Block Options Traders Betting On Stock Dropping This Much By March Expiration

Block Inc SQ is scheduled to release quarterly earnings after the closing bell on Feb. 23, 2023.

Analysts expect the company to post quarterly earnings at $0.30 per share with revenue of $4.6 billion.

Block is implying a move of +/-10%, while the stock has moved around 8% on average over the past two years post-earnings, according to Dan Nathan of RiskReversal.

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There were buyers of 3,000 of the March 72.5-puts at an average price of $5 per contract, Nathan mentioned on CNBC’s "Options Action."

The traders expect Block’s stock to drop at least 7% by March expiration.

Price Action: Block’s shares gained 1.4% to close at $72.94 on Wednesday.

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