Shopify Options Trading: A Deep Dive into Market Sentiment

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 28 trades.

If we consider the specifics of each trade, it is accurate to state that 50% of the investors opened trades with bullish expectations and 46% with bearish.

From the overall spotted trades, 13 are puts, for a total amount of $938,152 and 15, calls, for a total amount of $632,166.

Predicted Price Range

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 $145.0 for Shopify, spanning the last three months.

Analyzing Volume & Open Interest

Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Shopify's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Shopify's substantial trades, within a strike price spectrum from $50.0 to $145.0 over the preceding 30 days.

Shopify Call and Put Volume: 30-Day Overview

Largest Options Trades Observed:

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.

In light of the recent options history for Shopify, it's now appropriate to focus on the company itself. We aim to explore its current performance.

Present Market Standing of Shopify

• Currently trading with a volume of 3,489,391, the SHOP's price is up by 2.05%, now at $113.22.
• RSI readings suggest the stock is currently is currently neutral between overbought and oversold.
• Anticipated earnings release is in 70 days.

What Analysts Are Saying About Shopify

5 market experts have recently issued ratings for this stock, with a consensus target price of $123.6.

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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. * Maintaining their stance, an analyst from JP Morgan continues to hold a Overweight rating for Shopify, targeting a price of $124. * Maintaining their stance, an analyst from Piper Sandler continues to hold a Neutral rating for Shopify, targeting a price of $104. * Consistent in their evaluation, an analyst from UBS keeps a Neutral rating on Shopify with a target price of $125. * Reflecting concerns, an analyst from Cantor Fitzgerald lowers its rating to Neutral with a new price target of $120. * An analyst from RBC Capital persists with their Outperform rating on Shopify, maintaining a target price of $145.

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.