Shopify Unusual Options Activity

Deep-pocketed investors have adopted a bearish 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 9 extraordinary options activities for Shopify. This level of activity is out of the ordinary.

The general mood among these heavyweight investors is divided, with 22% leaning bullish and 55% bearish. Among these notable options, 6 are puts, totaling $763,395, and 3 are calls, amounting to $99,480.

Predicted Price Range

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $65.0 to $114.0 for Shopify over the last 3 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 $65.0 to $114.0 over the preceding 30 days.

Shopify 30-Day Option Volume & Interest Snapshot

Significant Options Trades Detected:

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.

Following our analysis of the options activities associated with Shopify, we pivot to a closer look at the company's own performance.

Shopify's Current Market Status

• With a trading volume of 962,383, the price of SHOP is down by -1.96%, reaching $108.66.
• Current RSI values indicate that the stock is is currently neutral between overbought and oversold.
• Next earnings report is scheduled for 68 days from now.

What Analysts Are Saying About Shopify

5 market experts have recently issued ratings for this stock, with a consensus target price of $141.8.

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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. * An analyst from UBS has decided to maintain their Neutral rating on Shopify, which currently sits at a price target of $125. * An analyst from Morgan Stanley has decided to maintain their Overweight rating on Shopify, which currently sits at a price target of $144. * An analyst from Oppenheimer has decided to maintain their Outperform rating on Shopify, which currently sits at a price target of $150. * An analyst from Canaccord Genuity has decided to maintain their Buy rating on Shopify, which currently sits at a price target of $140. * Maintaining their stance, an analyst from Goldman Sachs continues to hold a Buy rating for Shopify, targeting a price of $150.

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 Shopify options trades with real-time alerts from Benzinga Pro.