Shopify's Options: A Look at What the Big Money is Thinking

Investors with a lot of money to spend have taken a bullish stance on Shopify SHOP.

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 SHOP, 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 25 uncommon options trades for Shopify.

This isn't normal.

The overall sentiment of these big-money traders is split between 48% bullish and 40%, bearish.

Out of all of the special options we uncovered, 13 are puts, for a total amount of $942,793, and 12 are calls, for a total amount of $560,752.

Expected Price Movements

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 $175.0 for Shopify over the last 3 months.

Analyzing Volume & Open Interest

Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.

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 activity within a strike price range from $65.0 to $175.0 in the last 30 days.

Shopify 30-Day Option Volume & Interest Snapshot

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.

Where Is Shopify Standing Right Now?

• With a volume of 6,063,476, the price of SHOP is up 4.34% at $94.52.
• RSI indicators hint that the underlying stock may be oversold.
• Next earnings are expected to be released in 54 days.

Expert Opinions on Shopify

In the last month, 1 experts released ratings on this stock with an average target price of $130.0.

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 Jefferies has decided to maintain their Hold rating on Shopify, which currently sits at a price target of $130.

Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.

If you want to stay updated on the latest options trades for Shopify, Benzinga Pro gives you real-time options trades alerts.