High-rolling investors have positioned themselves bullish on Block SQ, and it's important for retail traders to take note. \This activity came to our attention today through Benzinga's tracking of publicly available options data. The identities of these investors are uncertain, but such a significant move in SQ often signals that someone has privileged information.
Today, Benzinga's options scanner spotted 9 options trades for Block. This is not a typical pattern.
The sentiment among these major traders is split, with 77% bullish and 11% bearish. Among all the options we identified, there was one put, amounting to $99,800, and 8 calls, totaling $513,980.
What's The Price Target?
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $75.0 to $130.0 for Block over the recent three 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 Block'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 Block's whale trades within a strike price range from $75.0 to $130.0 in the last 30 days.
Block 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| SQ | CALL | SWEEP | BULLISH | 02/21/25 | $6.5 | $6.1 | $6.35 | $90.00 | $158.1K | 1.7K | 254 |
| SQ | CALL | SWEEP | BULLISH | 02/21/25 | $4.8 | $4.7 | $4.79 | $95.00 | $119.9K | 12.0K | 255 |
| SQ | PUT | TRADE | BULLISH | 12/18/26 | $50.45 | $49.9 | $49.9 | $130.00 | $99.8K | 40 | 20 |
| SQ | CALL | SWEEP | NEUTRAL | 12/20/24 | $12.5 | $10.5 | $11.51 | $75.00 | $57.5K | 3.3K | 0 |
| SQ | CALL | SWEEP | BULLISH | 02/21/25 | $3.25 | $2.96 | $3.25 | $100.00 | $49.4K | 4.6K | 273 |
About Block
Founded in 2009, Block provides payment services to merchants, along with related services. The company also launched Cash App, a person-to-person payment network. In 2023, Square's payment volume was a little over $200 million.
Following our analysis of the options activities associated with Block, we pivot to a closer look at the company's own performance.
Present Market Standing of Block
- Currently trading with a volume of 371,828, the SQ's price is down by -1.37%, now at $86.44.
- RSI readings suggest the stock is currently is currently neutral between overbought and oversold.
- Anticipated earnings release is in 62 days.
Expert Opinions on Block
Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $102.4.
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. * Showing optimism, an analyst from Oppenheimer upgrades its rating to Outperform with a revised price target of $115. * An analyst from BMO Capital has revised its rating downward to Market Perform, adjusting the price target to $100. * An analyst from Barclays has decided to maintain their Overweight rating on Block, which currently sits at a price target of $112. * An analyst from Morgan Stanley has decided to maintain their Underweight rating on Block, which currently sits at a price target of $65. * Maintaining their stance, an analyst from Bernstein continues to hold a Outperform rating for Block, targeting a price of $120.
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Block options trades with real-time alerts from Benzinga Pro.
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