Financial giants have made a conspicuous bullish move on Shopify. Our analysis of options history for Shopify SHOP revealed 34 unusual trades.
Delving into the details, we found 61% of traders were bullish, while 11% showed bearish tendencies. Out of all the trades we spotted, 8 were puts, with a value of $265,699, and 26 were calls, valued at $1,173,819.
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 $90.0 for Shopify over the last 3 months.
Volume & Open Interest Development
In today's trading context, the average open interest for options of Shopify stands at 1770.65, with a total volume reaching 7,749.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Shopify, situated within the strike price corridor from $50.0 to $90.0, throughout the last 30 days.
Shopify Option Activity Analysis: Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| SHOP | CALL | SWEEP | BEARISH | 05/17/24 | $1.46 | $1.37 | $1.37 | $85.00 | $123.5K | 5.3K | 385 |
| SHOP | CALL | SWEEP | BEARISH | 07/19/24 | $6.85 | $6.8 | $6.8 | $75.00 | $102.0K | 1.7K | 692 |
| SHOP | CALL | SWEEP | BULLISH | 01/17/25 | $7.6 | $7.45 | $7.59 | $90.00 | $79.7K | 4.5K | 307 |
| SHOP | CALL | TRADE | NEUTRAL | 05/17/24 | $2.74 | $2.61 | $2.68 | $80.00 | $67.0K | 5.4K | 287 |
| SHOP | CALL | TRADE | NEUTRAL | 01/17/25 | $7.7 | $7.5 | $7.61 | $90.00 | $64.6K | 4.5K | 222 |
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.
Following our analysis of the options activities associated with Shopify, we pivot to a closer look at the company's own performance.
Shopify's Current Market Status
- With a volume of 4,863,368, the price of SHOP is up 2.85% at $74.05.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 5 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 Shopify 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.
