Whales with a lot of money to spend have taken a noticeably bullish stance on Shopify.
Looking at options history for Shopify SHOP we detected 44 trades.
If we consider the specifics of each trade, it is accurate to state that 52% of the investors opened trades with bullish expectations and 36% with bearish.
From the overall spotted trades, 3 are puts, for a total amount of $115,045 and 41, calls, for a total amount of $2,892,774.
Projected Price Targets
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $50.0 and $155.0 for Shopify, spanning the last three months.
Analyzing Volume & Open Interest
Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for Shopify's options for a given strike price. Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Shopify's whale trades within a strike price range from $50.0 to $155.0 in the last 30 days.
Shopify Option Volume And Open Interest Over Last 30 Days
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| SHOP | CALL | SWEEP | BULLISH | 01/16/26 | $26.7 | $26.5 | $26.7 | $105.00 | $667.5K | 3.4K | 410 |
| SHOP | CALL | TRADE | BULLISH | 03/21/25 | $24.5 | $23.9 | $24.5 | $90.00 | $210.7K | 2.0K | 211 |
| SHOP | CALL | SWEEP | NEUTRAL | 12/06/24 | $3.45 | $3.3 | $3.35 | $110.00 | $173.6K | 1.5K | 1.7K |
| SHOP | CALL | TRADE | BULLISH | 01/17/25 | $3.0 | $2.95 | $3.0 | $120.00 | $150.0K | 6.1K | 838 |
| SHOP | CALL | SWEEP | NEUTRAL | 12/18/26 | $43.9 | $43.25 | $43.55 | $90.00 | $130.6K | 459 | 30 |
About Shopify
Shopify offers an e-commerce platform primarily to small and medium-size businesses. The firm has two segments. The subscription solutions segment allows Shopify merchants to conduct e-commerce on a variety of platforms, including the company's website, physical stores, pop-up stores, kiosks, social networks (Facebook), and Amazon. The merchant solutions segment offers add-on products for the platform that facilitate e-commerce and include Shopify Payments, Shopify Shipping, and Shopify Capital.
After a thorough review of the options trading surrounding Shopify, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Where Is Shopify Standing Right Now?
- With a trading volume of 4,884,812, the price of SHOP is up by 3.17%, reaching $110.35.
- Current RSI values indicate that the stock is may be overbought.
- Next earnings report is scheduled for 78 days from now.
Professional Analyst Ratings for Shopify
A total of 5 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $126.0.
Unusual Options Activity Detected: Smart Money on the Move
Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. Click here for access. * An analyst from Mizuho has decided to maintain their Neutral rating on Shopify, which currently sits at a price target of $105. * An analyst from RBC Capital has decided to maintain their Outperform rating on Shopify, which currently sits at a price target of $130. * An analyst from Oppenheimer has decided to maintain their Outperform rating on Shopify, which currently sits at a price target of $130. * Consistent in their evaluation, an analyst from Goldman Sachs keeps a Buy rating on Shopify with a target price of $135. * An analyst from Keybanc persists with their Overweight rating on Shopify, maintaining a target price of $130.
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Shopify with Benzinga Pro for real-time alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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