Spotlight on Block: Analyzing the Surge in Options Activity

Whales with a lot of money to spend have taken a noticeably bullish stance on Block.

Looking at options history for Block XYZ we detected 24 trades.

If we consider the specifics of each trade, it is accurate to state that 54% of the investors opened trades with bullish expectations and 29% with bearish.

From the overall spotted trades, 11 are puts, for a total amount of $511,840 and 13, calls, for a total amount of $704,204.

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 $30.0 to $95.0 for Block 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 Block'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 Block's whale activity within a strike price range from $30.0 to $95.0 in the last 30 days.

Block 30-Day Option Volume & Interest Snapshot

Noteworthy Options Activity:

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

• Currently trading with a volume of 4,975,971, the XYZ's price is up by 2.76%, now at $55.83.
• RSI readings suggest the stock is currently is currently neutral between overbought and oversold.
• Anticipated earnings release is in 8 days.

What Analysts Are Saying About Block

Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $74.2.

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 Baird has decided to maintain their Outperform rating on Block, which currently sits at a price target of $80. * Showing optimism, an analyst from Morgan Stanley upgrades its rating to Overweight with a revised price target of $67. * An analyst from Goldman Sachs persists with their Buy rating on Block, maintaining a target price of $74. * Consistent in their evaluation, an analyst from Barclays keeps a Overweight rating on Block with a target price of $70. * Consistent in their evaluation, an analyst from B of A Securities keeps a Buy rating on Block with a target price of $80.

Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Block with Benzinga Pro for real-time alerts.