Someone with a lot of money to spend has taken a bearish stance on Shopify SHOP.
And retail traders should know.
We noticed this today when the big position showed up on publicly available options history that we track here at Benzinga.
Whether this is an institution or just a wealthy individual, 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 this whale just did?
Today, Benzinga's options scanner spotted 10 uncommon options trades for Shopify.
This isn't normal.
The overall sentiment of these big-money traders is split between 30% bullish and 70%, bearish.
Out of all of the special options we uncovered, 2 are puts, for a total amount of $76,980, and 8 are calls, for a total amount of $515,436.
Projected Price Targets
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $50.0 to $70.0 for Shopify over the last 3 months.
Insights into 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 $50.0 to $70.0 in the last 30 days.
Shopify 30-Day Option Volume & Interest Snapshot
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| SHOP | CALL | TRADE | BEARISH | 02/16/24 | $60.00 | $117.1K | 4.4K | 175 |
| SHOP | CALL | SWEEP | BEARISH | 01/17/25 | $55.00 | $95.1K | 2.6K | 57 |
| SHOP | CALL | TRADE | BEARISH | 06/20/25 | $60.00 | $90.5K | 2.3K | 0 |
| SHOP | CALL | TRADE | BEARISH | 06/20/25 | $65.00 | $80.7K | 1.6K | 1 |
| SHOP | CALL | SWEEP | BEARISH | 11/10/23 | $62.00 | $45.2K | 2.1K | 205 |
Where Is Shopify Standing Right Now?
- Currently trading with a volume of 5,646,259, the SHOP's price has up by 0.63%, now at $62.08. RSI readings suggest the stock is currently may be approaching overbought. Anticipated earnings release is in 98 days.
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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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