Block Unusual Options Activity

Investors with a lot of money to spend have taken a bearish stance on Block SQ.

And retail traders should know.

We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.

Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with SQ, it often means somebody knows something is about to happen.

So how do we know what these investors just did?

Today, Benzinga's options scanner spotted 23 uncommon options trades for Block.

This isn't normal.

The overall sentiment of these big-money traders is split between 30% bullish and 52%, bearish.

Out of all of the special options we uncovered, 5 are puts, for a total amount of $258,905, and 18 are calls, for a total amount of $1,168,835.

What's The Price Target?

After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $60.0 and $125.0 for Block, spanning the last three months.

Volume & Open Interest Development

Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Block's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Block's significant trades, within a strike price range of $60.0 to $125.0, over the past month.

Block Option Activity Analysis: Last 30 Days

Significant Options Trades Detected:

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.

Having examined the options trading patterns of Block, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance

Present Market Standing of Block

• With a trading volume of 2,191,611, the price of SQ is up by 2.01%, reaching $91.08.
• Current RSI values indicate that the stock is may be approaching overbought.
• Next earnings report is scheduled for 58 days from now.

Professional Analyst Ratings for Block

5 market experts have recently issued ratings for this stock, with a consensus target price of $96.4.

Turn $1000 into $1270 in just 20 days?

20-year pro options trader reveals his one-line chart technique that shows when to buy and sell. Copy his trades, which have had averaged a 27% profit every 20 days. Click here for access. * An analyst from Keefe, Bruyette & Woods has decided to maintain their Market Perform rating on Block, which currently sits at a price target of $105. * An analyst from Morgan Stanley persists with their Underweight rating on Block, maintaining a target price of $65. * Reflecting concerns, an analyst from BMO Capital lowers its rating to Market Perform with a new price target of $100. * An analyst from Goldman Sachs has decided to maintain their Buy rating on Block, which currently sits at a price target of $102. * An analyst from Macquarie has decided to maintain their Outperform rating on Block, which currently sits at a price target of $110.

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 Block with Benzinga Pro for real-time alerts.