Financial giants have made a conspicuous bearish move on Block. Our analysis of options history for Block SQ revealed 17 unusual trades.
Delving into the details, we found 41% of traders were bullish, while 58% showed bearish tendencies. Out of all the trades we spotted, 10 were puts, with a value of $666,396, and 7 were calls, valued at $685,510.
Predicted Price Range
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $42.5 and $100.0 for Block, spanning the last three months.
Volume & Open Interest Development
In terms of liquidity and interest, the mean open interest for Block options trades today is 1630.56 with a total volume of 8,211.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Block's big money trades within a strike price range of $42.5 to $100.0 over the last 30 days.
Block Call and Put Volume: 30-Day Overview
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| SQ | CALL | TRADE | BEARISH | 02/16/24 | $80.00 | $281.4K | 8.3K | 2.3K |
| SQ | PUT | SWEEP | BULLISH | 01/05/24 | $73.00 | $233.9K | 1.1K | 0 |
| SQ | CALL | TRADE | BEARISH | 01/17/25 | $42.50 | $203.7K | 326 | 70 |
| SQ | CALL | SWEEP | BULLISH | 03/15/24 | $67.50 | $77.4K | 2.8K | 122 |
| SQ | PUT | SWEEP | NEUTRAL | 01/05/24 | $69.00 | $77.1K | 1.4K | 100 |
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.
After a thorough review of the options trading surrounding Block, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Present Market Standing of Block
- With a volume of 4,511,844, the price of SQ is down -0.06% at $68.59.
- RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
- Next earnings are expected to be released in 49 days.
Expert Opinions on Block
In the last month, 1 experts released ratings on this stock with an average target price of $99.0.
- Maintaining their stance, an analyst from Mizuho continues to hold a Buy rating for Block, targeting a price of $99.
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 Block with Benzinga Pro for real-time alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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