Whales with a lot of money to spend have taken a noticeably bullish stance on Block.
Looking at options history for Block SQ we detected 8 trades.
If we consider the specifics of each trade, it is accurate to state that 62% of the investors opened trades with bullish expectations and 37% with bearish.
From the overall spotted trades, 5 are puts, for a total amount of $354,255 and 3, calls, for a total amount of $82,960.
What's The Price Target?
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $55.0 and $100.0 for Block, spanning the last three months.
Volume & Open Interest Trends
Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Block's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Block's significant trades, within a strike price range of $55.0 to $100.0, over the past month.
Block Option Volume And Open Interest Over 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| SQ | PUT | SWEEP | BULLISH | 06/20/25 | $6.5 | $5.45 | $6.5 | $55.00 | $152.7K | 3.8K | 0 |
| SQ | PUT | SWEEP | BULLISH | 06/20/25 | $6.65 | $6.5 | $6.5 | $55.00 | $72.8K | 3.8K | 0 |
| SQ | PUT | TRADE | BEARISH | 01/16/26 | $16.55 | $16.3 | $16.45 | $70.00 | $57.5K | 1.3K | 1 |
| SQ | PUT | SWEEP | BULLISH | 06/20/25 | $6.65 | $6.5 | $6.5 | $55.00 | $45.5K | 3.8K | 0 |
| SQ | CALL | SWEEP | BULLISH | 01/16/26 | $15.7 | $15.4 | $15.7 | $67.50 | $29.8K | 509 | 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 2023, Square's payment volume was a little over $200 million.
Following our analysis of the options activities associated with Block, we pivot to a closer look at the company's own performance.
Block's Current Market Status
- Currently trading with a volume of 1,150,688, the SQ's price is up by 0.14%, now at $63.48.
- RSI readings suggest the stock is currently is currently neutral between overbought and oversold.
- Anticipated earnings release is in 34 days.
What Analysts Are Saying About Block
In the last month, 2 experts released ratings on this stock with an average target price of $90.0.
- An analyst from Goldman Sachs downgraded its action to Buy with a price target of $80.
- Maintaining their stance, an analyst from Susquehanna continues to hold a Positive rating for Block, targeting a price of $100.
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.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
