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 15 uncommon options trades for Block.
This isn't normal.
The overall sentiment of these big-money traders is split between 53% bullish and 40%, bearish.
Out of all of the special options we uncovered, 7 are puts, for a total amount of $453,272, and 8 are calls, for a total amount of $466,787.
Projected Price Targets
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 $72.5 for Block, spanning the last three months.
Insights into Volume & Open Interest
In terms of liquidity and interest, the mean open interest for Block options trades today is 2641.77 with a total volume of 2,319.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Block's big money trades within a strike price range of $55.0 to $72.5 over the last 30 days.
Block Option Volume And Open Interest Over Last 30 Days
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| SQ | PUT | TRADE | BEARISH | 09/20/24 | $1.72 | $1.67 | $1.7 | $55.00 | $170.0K | 11.2K | 47 |
| SQ | CALL | TRADE | NEUTRAL | 07/05/24 | $0.19 | $0.15 | $0.17 | $65.00 | $90.7K | 8.2K | 1.1K |
| SQ | PUT | SWEEP | BULLISH | 09/20/24 | $4.3 | $4.2 | $4.2 | $62.50 | $73.9K | 6.1K | 56 |
| SQ | CALL | SWEEP | BULLISH | 08/16/24 | $7.35 | $7.25 | $7.34 | $60.00 | $73.4K | 657 | 7 |
| SQ | CALL | TRADE | BULLISH | 08/02/24 | $2.8 | $2.8 | $2.8 | $68.00 | $70.0K | 913 | 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.
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.
Block's Current Market Status
- With a volume of 1,903,027, the price of SQ is down -0.2% at $64.31.
- RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
- Next earnings are expected to be released in 27 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 Susquehanna has decided to maintain their Positive rating on Block, which currently sits at a price target of $100.
- An analyst from Goldman Sachs downgraded its action to Buy with a price target of $80.
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.
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Date of Trade | ticker | Put/Call | Strike Price | DTE | Sentiment |
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