Whales with a lot of money to spend have taken a noticeably bearish stance on Block.
Looking at options history for Block SQ we detected 24 trades.
If we consider the specifics of each trade, it is accurate to state that 29% of the investors opened trades with bullish expectations and 70% with bearish.
From the overall spotted trades, 7 are puts, for a total amount of $493,638 and 17, calls, for a total amount of $878,049.
Projected Price Targets
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $45.0 to $100.0 for Block during the past quarter.
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 $45.0 to $100.0 over the preceding 30 days.
Block Call and Put Volume: 30-Day Overview
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| SQ | PUT | SWEEP | BEARISH | 07/19/24 | $77.50 | $168.2K | 309 | 2 |
| SQ | CALL | SWEEP | NEUTRAL | 09/20/24 | $82.50 | $117.3K | 178 | 178 |
| SQ | CALL | SWEEP | BULLISH | 03/22/24 | $80.00 | $104.5K | 1.7K | 151 |
| SQ | PUT | SWEEP | BULLISH | 01/17/25 | $65.00 | $98.7K | 1.1K | 3 |
| SQ | PUT | SWEEP | BEARISH | 01/16/26 | $45.00 | $83.9K | 873 | 0 |
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
Present Market Standing of Block
- Trading volume stands at 2,852,134, with SQ's price up by 0.29%, positioned at $80.4.
- RSI indicators show the stock to be may be approaching overbought.
- Earnings announcement expected in 45 days.
Expert Opinions on Block
A total of 5 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $88.8.
- An analyst from Piper Sandler has revised its rating downward to Overweight, adjusting the price target to $88.
- Consistent in their evaluation, an analyst from Truist Securities keeps a Buy rating on Block with a target price of $100.
- An analyst from Keefe, Bruyette & Woods has decided to maintain their Market Perform rating on Block, which currently sits at a price target of $78.
- Consistent in their evaluation, an analyst from RBC Capital keeps a Outperform rating on Block with a target price of $88.
- Reflecting concerns, an analyst from Wedbush lowers its rating to Outperform with a new price target of $90.
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.
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