Whales with a lot of money to spend have taken a noticeably bullish stance on Shopify.
Looking at options history for Shopify SHOP we detected 12 trades.
If we consider the specifics of each trade, it is accurate to state that 50% of the investors opened trades with bullish expectations and 50% with bearish.
From the overall spotted trades, 5 are puts, for a total amount of $186,138 and 7, calls, for a total amount of $884,223.
What's The Price Target?
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $43.0 to $80.0 for Shopify over the recent three 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 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 $43.0 to $80.0 in the last 30 days.
Shopify 30-Day Option Volume & Interest Snapshot
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| SHOP | CALL | TRADE | BEARISH | 11/17/23 | $55.00 | $432.1K | 6.4K | 1.0K |
| SHOP | CALL | TRADE | BEARISH | 11/17/23 | $60.00 | $156.3K | 6.4K | 772 |
| SHOP | CALL | SWEEP | BEARISH | 01/17/25 | $80.00 | $137.9K | 5.5K | 159 |
| SHOP | PUT | SWEEP | BULLISH | 06/21/24 | $60.00 | $73.9K | 3.7K | 1 |
| SHOP | CALL | SWEEP | BULLISH | 11/17/23 | $50.00 | $67.8K | 1.4K | 61 |
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.
Having examined the options trading patterns of Shopify, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
Shopify's Current Market Status
- With a volume of 6,488,837, the price of SHOP is up 1.3% at $62.14.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 93 days.
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 Shopify with Benzinga Pro for real-time alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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