High-rolling investors have positioned themselves bearish on Block SQ, and it's important for retail traders to take note. \This activity came to our attention today through Benzinga's tracking of publicly available options data. The identities of these investors are uncertain, but such a significant move in SQ often signals that someone has privileged information.
Today, Benzinga's options scanner spotted 9 options trades for Block. This is not a typical pattern.
The sentiment among these major traders is split, with 44% bullish and 55% bearish. Among all the options we identified, there was one put, amounting to $25,560, and 8 calls, totaling $650,940.
Predicted Price Range
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $70.0 to $90.0 for Block over the recent three months.
Insights into Volume & Open Interest
Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Block's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Block's substantial trades, within a strike price spectrum from $70.0 to $90.0 over the preceding 30 days.
Block 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 |
|---|---|---|---|---|---|---|---|---|
| SQ | CALL | SWEEP | BEARISH | 01/17/25 | $87.50 | $323.7K | 663 | 0 |
| SQ | CALL | TRADE | BULLISH | 01/17/25 | $70.00 | $104.0K | 796 | 0 |
| SQ | CALL | SWEEP | BEARISH | 04/19/24 | $80.00 | $52.0K | 1.6K | 6 |
| SQ | CALL | SWEEP | BEARISH | 12/29/23 | $80.00 | $42.0K | 2.3K | 755 |
| SQ | CALL | SWEEP | BULLISH | 12/29/23 | $77.00 | $38.6K | 1.0K | 20 |
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.
Having examined the options trading patterns of Block, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
Block's Current Market Status
- Trading volume stands at 973,007, with SQ's price up by 0.97%, positioned at $76.85.
- RSI indicators show the stock to be may be overbought.
- Earnings announcement expected in 63 days.
What The Experts Say On Block
In the last month, 3 experts released ratings on this stock with an average target price of $94.33333333333333.
- In a cautious move, an analyst from BMO Capital downgraded its rating to Outperform, setting a price target of $84.
- An analyst from Barclays has decided to maintain their Overweight rating on Block, which currently sits at a price target of $100.
- Maintaining their stance, an analyst from Mizuho continues to hold a Buy rating for Block, targeting a price of $99.
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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
