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 27 trades.
If we consider the specifics of each trade, it is accurate to state that 55% of the investors opened trades with bullish expectations and 44% with bearish.
From the overall spotted trades, 7 are puts, for a total amount of $331,064 and 20, calls, for a total amount of $1,644,857.
What's The Price Target?
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $40.0 to $105.0 for Shopify over the last 3 months.
Volume & Open Interest Development
Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Shopify's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Shopify's significant trades, within a strike price range of $40.0 to $105.0, over the past month.
Shopify Call and Put Volume: 30-Day Overview
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| SHOP | CALL | TRADE | BULLISH | 03/15/24 | $75.00 | $404.2K | 1.4K | 760 |
| SHOP | CALL | SWEEP | BULLISH | 06/20/25 | $105.00 | $234.3K | 2.8K | 321 |
| SHOP | CALL | TRADE | BEARISH | 01/19/24 | $68.00 | $131.8K | 6.0K | 29 |
| SHOP | CALL | TRADE | BEARISH | 01/19/24 | $60.00 | $114.0K | 11.5K | 83 |
| SHOP | PUT | SWEEP | BEARISH | 06/20/25 | $45.00 | $100.3K | 853 | 339 |
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
Present Market Standing of Shopify
- Currently trading with a volume of 7,703,066, the SHOP's price is down by -1.82%, now at $72.45.
- RSI readings suggest the stock is currently may be overbought.
- Anticipated earnings release is in 78 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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