Investors with a lot of money to spend have taken a bullish stance on Block SQ.
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 SQ, 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 21 uncommon options trades for Block.
This isn't normal.
The overall sentiment of these big-money traders is split between 57% bullish and 42%, bearish.
Out of all of the special options we uncovered, 8 are puts, for a total amount of $364,928, and 13 are calls, for a total amount of $812,808.
Expected Price Movements
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 $130.0 for Block over the last 3 months.
Insights into Volume & Open Interest
Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.
This data can help you track the liquidity and interest for Block's options for a given strike price.
Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Block's whale activity within a strike price range from $50.0 to $130.0 in the last 30 days.
Block Option Volume And Open Interest Over Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| SQ | CALL | TRADE | BULLISH | 06/21/24 | $90.00 | $245.0K | 2.4K | 18 |
| SQ | CALL | SWEEP | BULLISH | 07/19/24 | $85.00 | $93.5K | 17 | 92 |
| SQ | CALL | SWEEP | BULLISH | 06/20/25 | $130.00 | $90.3K | 29.1K | 18 |
| SQ | PUT | SWEEP | BEARISH | 02/16/24 | $69.00 | $69.3K | 0 | 324 |
| SQ | CALL | TRADE | BULLISH | 02/16/24 | $65.00 | $68.4K | 6.0K | 387 |
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.
In light of the recent options history for Block, it's now appropriate to focus on the company itself. We aim to explore its current performance.
Present Market Standing of Block
- With a volume of 5,269,452, the price of SQ is up 1.82% at $67.05.
- RSI indicators hint that the underlying stock may be approaching oversold.
- Next earnings are expected to be released in 31 days.
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 Block options trades with real-time alerts from Benzinga Pro.
© 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.
