Deep-pocketed investors have adopted a bullish approach towards Shopify SHOP, and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in SHOP usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 36 extraordinary options activities for Shopify. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 50% leaning bullish and 33% bearish. Among these notable options, 5 are puts, totaling $296,377, and 31 are calls, amounting to $1,900,164.
Projected Price Targets
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $45.0 to $160.0 for Shopify over the last 3 months.
Volume & Open Interest Trends
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 $45.0 to $160.0 in the last 30 days.
Shopify Option Activity Analysis: 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 | TRADE | BEARISH | 01/16/26 | $30.25 | $29.5 | $29.76 | $105.00 | $297.6K | 3.8K | 103 |
| SHOP | CALL | TRADE | BULLISH | 01/16/26 | $27.8 | $27.0 | $27.6 | $110.00 | $276.0K | 2.3K | 149 |
| SHOP | CALL | TRADE | BEARISH | 01/16/26 | $36.7 | $34.1 | $35.1 | $95.00 | $105.3K | 7.1K | 35 |
| SHOP | CALL | SWEEP | BEARISH | 03/21/25 | $37.35 | $37.15 | $37.21 | $80.00 | $100.4K | 1.5K | 28 |
| SHOP | CALL | TRADE | BULLISH | 06/20/25 | $48.4 | $48.15 | $48.4 | $70.00 | $96.8K | 7.3K | 20 |
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.
Having examined the options trading patterns of Shopify, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
Where Is Shopify Standing Right Now?
- With a volume of 5,192,439, the price of SHOP is up 0.83% at $112.79.
- RSI indicators hint that the underlying stock may be overbought.
- Next earnings are expected to be released in 69 days.
Professional Analyst Ratings for Shopify
In the last month, 5 experts released ratings on this stock with an average target price of $118.8.
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 Wells Fargo has decided to maintain their Overweight rating on Shopify, which currently sits at a price target of $120. * Consistent in their evaluation, an analyst from RBC Capital keeps a Outperform rating on Shopify with a target price of $130. * An analyst from Keybanc has decided to maintain their Overweight rating on Shopify, which currently sits at a price target of $130. * Consistent in their evaluation, an analyst from Piper Sandler keeps a Neutral rating on Shopify with a target price of $94. * An analyst from JMP Securities persists with their Market Outperform rating on Shopify, maintaining a target price of $120.
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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