Block Options Trading: A Deep Dive into Market Sentiment

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

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 XYZ, 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 10 uncommon options trades for Block.

This isn't normal.

The overall sentiment of these big-money traders is split between 40% bullish and 50%, bearish.

Out of all of the special options we uncovered, 4 are puts, for a total amount of $306,300, and 6 are calls, for a total amount of $362,638.

Projected Price Targets

Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $55.0 to $95.0 for Block over the recent three months.

Volume & Open Interest Development

In terms of liquidity and interest, the mean open interest for Block options trades today is 1356.75 with a total volume of 2,743.00.

In the following chart, we are able to follow the development of volume and open interest of call and put options for Block's big money trades within a strike price range of $55.0 to $95.0 over the last 30 days.

Block 30-Day Option Volume & Interest Snapshot

Biggest Options Spotted:

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 2024, Square's payment volume was almost USD 250 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 volume of 2,104,309, the price of XYZ is up 2.16% at $62.43.
• RSI indicators hint that the underlying stock may be approaching overbought.
• Next earnings are expected to be released in 38 days.

What The Experts Say On Block

5 market experts have recently issued ratings for this stock, with a consensus target price of $94.2.

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. * An analyst from Keybanc has decided to maintain their Overweight rating on Block, which currently sits at a price target of $85. * In a positive move, an analyst from BMO Capital has upgraded their rating to Outperform and adjusted the price target to $89. * An analyst from Macquarie has decided to maintain their Outperform rating on Block, which currently sits at a price target of $110. * Consistent in their evaluation, an analyst from Citigroup keeps a Buy rating on Block with a target price of $90. * An analyst from Barclays persists with their Overweight rating on Block, maintaining a target price of $97.

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 Block, Benzinga Pro gives you real-time options trades alerts.