Whales with a lot of money to spend have taken a noticeably bearish stance on Shopify.
Looking at options history for Shopify SHOP we detected 26 trades.
If we consider the specifics of each trade, it is accurate to state that 34% of the investors opened trades with bullish expectations and 65% with bearish.
From the overall spotted trades, 11 are puts, for a total amount of $579,667 and 15, calls, for a total amount of $1,134,232.
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 $50.0 to $90.0 for Shopify over the last 3 months.
Volume & Open Interest Trends
In terms of liquidity and interest, the mean open interest for Shopify options trades today is 1994.64 with a total volume of 8,025.00.
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 $50.0 to $90.0 over the last 30 days.
Shopify Option Activity Analysis: Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| SHOP | CALL | TRADE | BULLISH | 01/16/26 | $50.00 | $311.2K | 341 | 81 |
| SHOP | CALL | SWEEP | BULLISH | 02/16/24 | $90.00 | $127.6K | 2.3K | 554 |
| SHOP | CALL | TRADE | BULLISH | 01/19/24 | $55.00 | $122.0K | 3.5K | 52 |
| SHOP | CALL | TRADE | BULLISH | 12/22/23 | $77.00 | $94.0K | 1.6K | 473 |
| SHOP | PUT | SWEEP | BEARISH | 01/17/25 | $65.00 | $92.3K | 2.1K | 138 |
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
- Currently trading with a volume of 3,229,993, the SHOP's price is up by 0.12%, now at $77.22.
- RSI readings suggest the stock is currently is currently neutral between overbought and oversold.
- Anticipated earnings release is in 57 days.
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Shopify with Benzinga Pro for real-time alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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