Shopify's Options: A Look at What the Big Money is Thinking

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 positions 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.

Today, Benzinga's options scanner spotted 9 options trades for Shopify.

This isn't normal.

The overall sentiment of these big-money traders is split between 77% bullish and 22%, bearish.

Out of all of the options we uncovered, there was 1 put, for a total amount of $39,480, and 8, calls, for a total amount of $1,094,410.

Expected Price Movements

Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $12.5 to $80.0 for Shopify over the recent three months.

Insights into Volume & Open Interest

In today's trading context, the average open interest for options of Shopify stands at 3580.78, with a total volume reaching 3,052.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Shopify, situated within the strike price corridor from $12.5 to $80.0, throughout the last 30 days.

Shopify Call and Put Volume: 30-Day Overview

Noteworthy Options Activity:

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.

Shopify's Current Market Status

• With a trading volume of 1,582,952, the price of SHOP is up by 2.43%, reaching $75.65.
• Current RSI values indicate that the stock is may be overbought.
• Next earnings report is scheduled for 62 days from now.

Expert Opinions on Shopify

In the last month, 5 experts released ratings on this stock with an average target price of $74.8.

• An analyst from Piper Sandler has revised its rating downward to Underweight, adjusting the price target to $56.
• An analyst from RBC Capital persists with their Outperform rating on Shopify, maintaining a target price of $100.
• Reflecting concerns, an analyst from DZ Bank lowers its rating to Sell with a new price target of $65.
• Maintaining their stance, an analyst from Deutsche Bank continues to hold a Buy rating for Shopify, targeting a price of $85.
• An analyst from Wedbush has revised its rating downward to Neutral, adjusting the price target to $68.

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 Shopify options trades with real-time alerts from Benzinga Pro.