Looking At Shopify's Recent Unusual Options Activity

Investors with a lot of money to spend have taken a bearish 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 38 uncommon options trades for Shopify.

This isn't normal.

The overall sentiment of these big-money traders is split between 34% bullish and 52%, bearish.

Out of all of the special options we uncovered, 19 are puts, for a total amount of $3,229,375, and 19 are calls, for a total amount of $1,617,192.

Expected Price Movements

After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $45.0 and $115.0 for Shopify, spanning the last three months.

Analyzing Volume & Open Interest

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 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 trades within a strike price range from $45.0 to $115.0 in the last 30 days.

Shopify Option Activity Analysis: Last 30 Days

Biggest Options Spotted:

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.

After a thorough review of the options trading surrounding Shopify, we move to examine the company in more detail. This includes an assessment of its current market status and performance.

Where Is Shopify Standing Right Now?

• With a volume of 11,008,931, the price of SHOP is up 7.52% at $101.08.
• RSI indicators hint that the underlying stock may be approaching oversold.
• Next earnings are expected to be released in 49 days.

Expert Opinions on Shopify

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

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. * Consistent in their evaluation, an analyst from Jefferies keeps a Hold rating on Shopify with a target price of $130.

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.