Whales with a lot of money to spend have taken a noticeably bearish stance on Block.
Looking at options history for Block SQ we detected 21 trades.
If we consider the specifics of each trade, it is accurate to state that 47% of the investors opened trades with bullish expectations and 52% with bearish.
From the overall spotted trades, 9 are puts, for a total amount of $476,628 and 12, calls, for a total amount of $488,844.
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 $42.5 and $100.0 for Block, spanning the last three months.
Volume & Open Interest Trends
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 $42.5 to $100.0 in the last 30 days.
Block 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 |
|---|---|---|---|---|---|---|---|---|
| SQ | PUT | SWEEP | NEUTRAL | 01/19/24 | $80.00 | $119.6K | 438 | 103 |
| SQ | CALL | SWEEP | NEUTRAL | 02/16/24 | $60.00 | $105.6K | 1.7K | 139 |
| SQ | PUT | SWEEP | BULLISH | 04/19/24 | $57.50 | $60.0K | 672 | 259 |
| SQ | CALL | TRADE | BEARISH | 01/17/25 | $42.50 | $60.0K | 256 | 0 |
| SQ | PUT | SWEEP | BULLISH | 02/16/24 | $70.00 | $58.2K | 2.9K | 245 |
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.
Following our analysis of the options activities associated with Block, we pivot to a closer look at the company's own performance.
Current Position of Block
- Currently trading with a volume of 5,342,670, the SQ's price is up by 1.18%, now at $67.75.
- RSI readings suggest the stock is currently is currently neutral between overbought and oversold.
- Anticipated earnings release is in 45 days.
Professional Analyst Ratings for Block
In the last month, 1 experts released ratings on this stock with an average target price of $99.0.
- An analyst from Mizuho persists with their Buy rating on Block, maintaining a target price of $99.
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.
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