Check Out What Whales Are Doing With Block

Someone with a lot of money to spend has taken a bearish stance on Block SQ.

And retail traders should know.

We noticed this today when the big position showed up on publicly available options history that we track here at Benzinga.

Whether this is an institution or just a wealthy individual, we don't know. But when something this big happens with SQ, it often means somebody knows something is about to happen.

Today, Benzinga's options scanner spotted 10 options trades for Block.

This isn't normal.

The overall sentiment of these big-money traders is split between 40% bullish and 60%, bearish.

Out of all of the options we uncovered, there was 1 put, for a total amount of $92,200, and 9, calls, for a total amount of $526,631.

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 $45.0 to $60.0 for Block over the last 3 months.

Analyzing Volume & Open Interest

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 $60.0 in the last 30 days.

Block Option Volume And Open Interest Over Last 30 Days

Significant Options Trades Detected:

Where Is Block Standing Right Now?

• Trading volume stands at 2,030,175, with SQ's price down -0.07%, positioned at $51.01. RSI indicators show the stock to be may be approaching overbought. Earnings announcement expected in 106 days.

Expert Opinions on Block:

• CLSA upgraded its action to Accumulate with a price target of $57.
• Piper Sandler has decided to maintain their Overweight rating on Block, which currently sits at a price target of $67.
• Canaccord Genuity persists with their Buy rating on Block, maintaining a target price of $80.
• Consistent in their evaluation, Truist Securities keeps a Buy rating on Block with a target price of $70.
• Goldman Sachs has decided to maintain their Buy rating on Block, which currently sits at a price target of $95.

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 Block, Benzinga Pro gives you real-time options trades alerts.