Deep-pocketed investors have adopted a bearish approach towards Shopify SHOP, and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in SHOP usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 26 extraordinary options activities for Shopify. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 38% leaning bullish and 57% bearish. Among these notable options, 7 are puts, totaling $298,235, and 19 are calls, amounting to $1,074,437.
Expected Price Movements
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 $85.0 for Shopify during the past quarter.
Volume & Open Interest Development
In today's trading context, the average open interest for options of Shopify stands at 2427.78, with a total volume reaching 9,029.00. 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 $45.0 to $85.0, 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 | TRADE | BEARISH | 03/21/25 | $6.6 | $6.3 | $6.4 | $80.00 | $317.4K | 916 | 563 |
| SHOP | CALL | TRADE | BULLISH | 01/17/25 | $11.65 | $11.55 | $11.65 | $60.00 | $116.5K | 4.4K | 100 |
| SHOP | PUT | SWEEP | BEARISH | 01/17/25 | $2.96 | $2.94 | $2.94 | $55.00 | $89.1K | 4.3K | 2.0K |
| SHOP | CALL | TRADE | BEARISH | 08/16/24 | $0.6 | $0.55 | $0.55 | $70.00 | $56.4K | 10.8K | 2.0K |
| SHOP | CALL | SWEEP | BULLISH | 09/20/24 | $22.5 | $22.35 | $22.5 | $45.00 | $56.2K | 280 | 30 |
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.
In light of the recent options history for Shopify, it's now appropriate to focus on the company itself. We aim to explore its current performance.
Where Is Shopify Standing Right Now?
- Trading volume stands at 15,068,570, with SHOP's price up by 7.28%, positioned at $68.54.
- RSI indicators show the stock to be may be approaching overbought.
- Earnings announcement expected in 84 days.
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.
If you want to stay updated on the latest options trades for Shopify, Benzinga Pro gives you real-time options trades alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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