Deep-pocketed investors have adopted a bearish approach towards Block SQ, and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in SQ usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 32 extraordinary options activities for Block. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 46% leaning bullish and 53% bearish. Among these notable options, 4 are puts, totaling $184,011, and 28 are calls, amounting to $1,944,397.
Projected Price Targets
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $45.0 and $130.0 for Block, spanning the last three months.
Volume & Open Interest Development
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 $45.0 to $130.0 in the last 30 days.
Block 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 |
|---|---|---|---|---|---|---|---|---|
| SQ | CALL | TRADE | BULLISH | 01/17/25 | $60.00 | $288.6K | 2.3K | 1 |
| SQ | CALL | SWEEP | BULLISH | 04/19/24 | $65.00 | $149.4K | 1.9K | 31 |
| SQ | CALL | SWEEP | BULLISH | 06/21/24 | $82.50 | $132.5K | 941 | 0 |
| SQ | CALL | SWEEP | BULLISH | 01/19/24 | $52.50 | $125.6K | 4.0K | 2 |
| SQ | CALL | SWEEP | BULLISH | 03/15/24 | $60.00 | $122.5K | 5.9K | 435 |
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 2022, Square's payment volume was a little over $200 million.
Where Is Block Standing Right Now?
- Currently trading with a volume of 4,000,355, the SQ's price is up by 1.33%, now at $65.75.
- RSI readings suggest the stock is currently may be overbought.
- Anticipated earnings release is in 78 days.
Professional Analyst Ratings for Block
In the last month, 2 experts released ratings on this stock with an average target price of $92.0.
- An analyst from BMO Capital has revised its rating downward to Outperform, adjusting the price target to $84.
- An analyst from Barclays persists with their Overweight rating on Block, maintaining a target price of $100.
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 Block 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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