Shopify's Options Frenzy: What You Need to Know

Financial giants have made a conspicuous bullish move on Shopify. Our analysis of options history for Shopify SHOP revealed 28 unusual trades.

Delving into the details, we found 60% of traders were bullish, while 25% showed bearish tendencies. Out of all the trades we spotted, 16 were puts, with a value of $2,815,885, and 12 were calls, valued at $1,303,764.

What's The Price Target?

Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $75.0 to $100.0 for Shopify during the past quarter.

Volume & Open Interest Trends

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 $75.0 to $100.0 over the preceding 30 days.

Shopify 30-Day Option Volume & Interest Snapshot

Noteworthy Options Activity:

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?

• Trading volume stands at 5,575,999, with SHOP's price up by 4.08%, positioned at $84.97.
• RSI indicators show the stock to be may be approaching oversold.
• Earnings announcement expected in 16 days.

What The Experts Say On Shopify

5 market experts have recently issued ratings for this stock, with a consensus target price of $103.2.

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 Mizuho has decided to maintain their Neutral rating on Shopify, which currently sits at a price target of $85. * Consistent in their evaluation, an analyst from Morgan Stanley keeps a Overweight rating on Shopify with a target price of $106. * An analyst from Loop Capital persists with their Buy rating on Shopify, maintaining a target price of $120. * An analyst from Cantor Fitzgerald persists with their Neutral rating on Shopify, maintaining a target price of $80. * Maintaining their stance, an analyst from RBC Capital continues to hold a Outperform rating for Shopify, targeting a price of $125.

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.