Whales with a lot of money to spend have taken a noticeably bearish stance on Shopify.
Looking at options history for Shopify SHOP we detected 19 trades.
If we consider the specifics of each trade, it is accurate to state that 36% of the investors opened trades with bullish expectations and 63% with bearish.
From the overall spotted trades, 8 are puts, for a total amount of $449,390 and 11, calls, for a total amount of $915,961.
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 $40.0 to $95.0 for Shopify during the past quarter.
Insights into Volume & Open Interest
In today's trading context, the average open interest for options of Shopify stands at 2445.23, with a total volume reaching 4,656.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Shopify, situated within the strike price corridor from $40.0 to $95.0, throughout the last 30 days.
Shopify Option Volume And Open Interest Over Last 30 Days
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| SHOP | CALL | TRADE | BEARISH | 01/19/24 | $68.00 | $192.3K | 6.5K | 1.8K |
| SHOP | CALL | SWEEP | BULLISH | 11/24/23 | $62.00 | $149.7K | 492 | 15 |
| SHOP | PUT | SWEEP | BEARISH | 02/16/24 | $80.00 | $129.0K | 9 | 0 |
| SHOP | CALL | SWEEP | BEARISH | 01/19/24 | $68.00 | $102.9K | 6.5K | 856 |
| SHOP | CALL | SWEEP | BULLISH | 12/01/23 | $70.00 | $90.7K | 955 | 104 |
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.
After a thorough review of the options trading surrounding Shopify, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Present Market Standing of Shopify
- With a volume of 4,039,620, the price of SHOP is down -1.02% at $68.8.
- RSI indicators hint that the underlying stock may be overbought.
- Next earnings are expected to be released in 85 days.
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 Shopify, Benzinga Pro gives you real-time options trades alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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