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 10 uncommon options trades for Block.
This isn't normal.
The overall sentiment of these big-money traders is split between 50% bullish and 40%, bearish.
Out of all of the special options we uncovered, 5 are puts, for a total amount of $189,877, and 5 are calls, for a total amount of $314,373.
Expected Price Movements
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $65.0 and $95.0 for Block, spanning the last three months.
Volume & Open Interest Development
In today's trading context, the average open interest for options of Block stands at 896.88, with a total volume reaching 646.00. 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 $65.0 to $95.0, throughout the last 30 days.
Block Call and Put Volume: 30-Day Overview
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| SQ | CALL | TRADE | BULLISH | 12/18/26 | $20.0 | $20.0 | $20.0 | $70.00 | $92.0K | 83 | 0 |
| SQ | CALL | SWEEP | BULLISH | 03/21/25 | $7.75 | $7.6 | $7.7 | $70.00 | $76.9K | 514 | 100 |
| SQ | CALL | SWEEP | BEARISH | 03/21/25 | $7.75 | $7.7 | $7.7 | $70.00 | $60.0K | 514 | 178 |
| SQ | PUT | TRADE | BULLISH | 10/18/24 | $3.8 | $3.75 | $3.75 | $65.00 | $58.8K | 1.1K | 163 |
| SQ | CALL | TRADE | NEUTRAL | 09/19/25 | $12.3 | $11.05 | $11.68 | $70.00 | $53.7K | 0 | 46 |
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.
Having examined the options trading patterns of Block, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
Present Market Standing of Block
- With a volume of 1,332,456, the price of SQ is down -1.07% at $65.38.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 58 days.
What Analysts Are Saying About Block
A total of 2 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $86.0.
- Maintaining their stance, an analyst from Needham continues to hold a Buy rating for Block, targeting a price of $80.
- An analyst from UBS has decided to maintain their Buy rating on Block, which currently sits at a price target of $92.
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 Block, 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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