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 25 uncommon options trades for Block.
This isn't normal.
The overall sentiment of these big-money traders is split between 52% bullish and 44%, bearish.
Out of all of the special options we uncovered, 18 are puts, for a total amount of $1,215,983, and 7 are calls, for a total amount of $338,254.
Expected Price Movements
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $45.0 to $72.5 for Block over the recent three months.
Insights into Volume & Open Interest
In today's trading context, the average open interest for options of Block stands at 2135.86, with a total volume reaching 6,228.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Block, situated within the strike price corridor from $45.0 to $72.5, throughout the last 30 days.
Block Option Activity Analysis: Last 30 Days
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| SQ | PUT | TRADE | BEARISH | 12/20/24 | $3.15 | $3.0 | $3.1 | $50.00 | $310.0K | 392 | 1.0K |
| SQ | PUT | SWEEP | BULLISH | 08/16/24 | $9.15 | $9.1 | $9.1 | $69.00 | $112.8K | 52 | 124 |
| SQ | PUT | SWEEP | BULLISH | 12/20/24 | $6.9 | $6.85 | $6.85 | $60.00 | $102.7K | 1.4K | 106 |
| SQ | CALL | SWEEP | BULLISH | 08/16/24 | $1.98 | $1.87 | $1.98 | $67.50 | $97.6K | 1.5K | 493 |
| SQ | PUT | SWEEP | BEARISH | 08/16/24 | $3.1 | $3.0 | $3.1 | $59.00 | $75.9K | 62 | 245 |
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.
After a thorough review of the options trading surrounding Block, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Present Market Standing of Block
- With a volume of 4,277,219, the price of SQ is up 1.33% at $60.98.
- RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
- Next earnings are expected to be released in 3 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.
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