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 trades 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.
So how do we know what these investors just did?
Today, Benzinga's options scanner spotted 18 uncommon options trades for Shopify.
This isn't normal.
The overall sentiment of these big-money traders is split between 50% bullish and 50%, bearish.
Out of all of the special options we uncovered, 7 are puts, for a total amount of $286,464, and 11 are calls, for a total amount of $558,986.
Expected Price Movements
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $50.0 to $105.0 for Shopify during the past quarter.
Volume & Open Interest Development
Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Shopify's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Shopify's substantial trades, within a strike price spectrum from $50.0 to $105.0 over the preceding 30 days.
Shopify Option Activity Analysis: Last 30 Days
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| SHOP | CALL | TRADE | BULLISH | 02/02/24 | $80.00 | $88.0K | 550 | 13 |
| SHOP | CALL | SWEEP | BULLISH | 06/21/24 | $80.00 | $86.3K | 2.4K | 93 |
| SHOP | CALL | SWEEP | BULLISH | 05/17/24 | $85.00 | $80.9K | 87 | 26 |
| SHOP | PUT | SWEEP | BEARISH | 06/21/24 | $70.00 | $75.7K | 2.9K | 186 |
| SHOP | CALL | SWEEP | BULLISH | 01/19/24 | $55.00 | $68.9K | 3.5K | 34 |
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
Present Market Standing of Shopify
- With a trading volume of 3,052,408, the price of SHOP is down by -0.23%, reaching $81.11.
- Current RSI values indicate that the stock is may be approaching overbought.
- Next earnings report is scheduled for 33 days from now.
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 Shopify, 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.
