Deep-pocketed investors have adopted a bearish approach towards Block SQ, 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 SQ usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 13 extraordinary options activities for Block. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 30% leaning bullish and 61% bearish. Among these notable options, 5 are puts, totaling $217,016, and 8 are calls, amounting to $558,264.
Projected Price Targets
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $40.0 to $95.0 for Block over the recent 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 $40.0 to $95.0, over the past month.
Block Call and Put Volume: 30-Day Overview
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| SQ | CALL | SWEEP | BEARISH | 01/16/26 | $5.45 | $5.35 | $5.4 | $95.00 | $157.1K | 660 | 494 |
| SQ | CALL | SWEEP | BEARISH | 01/16/26 | $5.45 | $5.4 | $5.4 | $95.00 | $83.7K | 660 | 200 |
| SQ | PUT | SWEEP | BEARISH | 09/13/24 | $0.46 | $0.39 | $0.45 | $57.00 | $78.6K | 10.5K | 13.1K |
| SQ | CALL | SWEEP | BULLISH | 10/25/24 | $3.75 | $3.55 | $3.75 | $60.00 | $75.0K | 1 | 200 |
| SQ | CALL | TRADE | BULLISH | 01/16/26 | $13.2 | $11.2 | $13.0 | $65.00 | $65.0K | 715 | 55 |
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 trading volume of 2,690,608, the price of SQ is down by -2.02%, reaching $60.07.
- Current RSI values indicate that the stock is is currently neutral between overbought and oversold.
- Next earnings report is scheduled for 51 days from now.
What Analysts Are Saying About Block
In the last month, 2 experts released ratings on this stock with an average target price of $81.0.
- An analyst from UBS has decided to maintain their Buy rating on Block, which currently sits at a price target of $92.
- An analyst from New Street Research has revised its rating downward to Neutral, adjusting the price target to $70.
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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