Financial giants have made a conspicuous bullish move on Shopify. Our analysis of options history for Shopify SHOP revealed 10 unusual trades.
Delving into the details, we found 50% of traders were bullish, while 40% showed bearish tendencies. Out of all the trades we spotted, 3 were puts, with a value of $123,705, and 7 were calls, valued at $397,125.
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 $55.0 and $105.0 for Shopify, spanning the last three months.
Volume & Open Interest Development
In terms of liquidity and interest, the mean open interest for Shopify options trades today is 601.5 with a total volume of 634.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Shopify's big money trades within a strike price range of $55.0 to $105.0 over the last 30 days.
Shopify Option Activity Analysis: 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| SHOP | CALL | TRADE | BULLISH | 01/16/26 | $32.05 | $31.35 | $32.05 | $55.00 | $160.2K | 823 | 50 |
| SHOP | CALL | TRADE | BEARISH | 10/25/24 | $15.25 | $14.85 | $15.0 | $65.00 | $75.0K | 153 | 50 |
| SHOP | PUT | TRADE | BULLISH | 01/16/26 | $31.1 | $30.85 | $30.85 | $105.00 | $64.7K | 56 | 24 |
| SHOP | CALL | SWEEP | NEUTRAL | 09/27/24 | $11.5 | $11.45 | $11.45 | $68.00 | $38.9K | 156 | 90 |
| SHOP | CALL | TRADE | BEARISH | 09/27/24 | $10.75 | $9.85 | $9.85 | $70.00 | $33.4K | 354 | 107 |
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.
After a thorough review of the options trading surrounding Shopify, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Shopify's Current Market Status
- With a trading volume of 1,791,214, the price of SHOP is up by 1.05%, reaching $79.55.
- Current RSI values indicate that the stock is may be approaching overbought.
- Next earnings report is scheduled for 38 days from now.
Expert Opinions on Shopify
In the last month, 5 experts released ratings on this stock with an average target price of $81.2.
Unusual Options Activity Detected: Smart Money on the Move
Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. Click here for access. * Consistent in their evaluation, an analyst from Wells Fargo keeps a Overweight rating on Shopify with a target price of $90. * Maintaining their stance, an analyst from Piper Sandler continues to hold a Neutral rating for Shopify, targeting a price of $67. * In a positive move, an analyst from Redburn Atlantic has upgraded their rating to Buy and adjusted the price target to $99. * An analyst from JMP Securities has revised its rating downward to Market Outperform, adjusting the price target to $80. * An analyst from Cantor Fitzgerald has revised its rating downward to Neutral, adjusting the price target to $70.
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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