Investors with a lot of money to spend have taken a bullish stance on Shopify SHOP.
And retail traders should know.
We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.
Whether these are institutions or just wealthy individuals, 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 these investors just did?
Today, Benzinga's options scanner spotted 23 uncommon options trades for Shopify.
This isn't normal.
The overall sentiment of these big-money traders is split between 69% bullish and 30%, bearish.
Out of all of the special options we uncovered, 5 are puts, for a total amount of $269,810, and 18 are calls, for a total amount of $2,636,459.
Projected Price Targets
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $35.0 to $81.0 for Shopify over the recent three months.
Analyzing Volume & Open Interest
In terms of liquidity and interest, the mean open interest for Shopify options trades today is 2691.86 with a total volume of 7,113.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Shopify's big money trades within a strike price range of $35.0 to $81.0 over the last 30 days.
Shopify Call and Put Volume: 30-Day Overview
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| SHOP | CALL | TRADE | NEUTRAL | 01/19/24 | $35.00 | $340.7K | 2.1K | 0 |
| SHOP | CALL | TRADE | BULLISH | 06/21/24 | $50.00 | $255.4K | 1.9K | 299 |
| SHOP | CALL | SWEEP | BULLISH | 06/21/24 | $50.00 | $246.4K | 1.9K | 796 |
| SHOP | CALL | SWEEP | BULLISH | 06/21/24 | $50.00 | $246.2K | 1.9K | 696 |
| SHOP | CALL | TRADE | BULLISH | 06/21/24 | $50.00 | $246.2K | 1.9K | 596 |
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 trading volume of 2,952,868, the price of SHOP is down by -1.82%, reaching $72.48.
- Current RSI values indicate that the stock is is currently neutral between overbought and oversold.
- Next earnings report is scheduled for 42 days from now.
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.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
