Investors with a lot of money to spend have taken a bullish stance on Shopify SHOP.
And retail traders should know.
We noticed this today when the positions 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 SHOP, it often means somebody knows something is about to happen.
Today, Benzinga's options scanner spotted 9 options trades for Shopify.
This isn't normal.
The overall sentiment of these big-money traders is split between 44% bullish and 44%, bearish.
Out of all of the options we uncovered, there was 1 put, for a total amount of $31,100, and 8, calls, for a total amount of $516,921.
Projected Price Targets
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $40.0 to $100.0 for Shopify over the last 3 months.
Volume & Open Interest Development
Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.
This data can help you track the liquidity and interest for Shopify's options for a given strike price.
Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Shopify's whale activity within a strike price range from $40.0 to $100.0 in the last 30 days.
Shopify Option Volume And Open Interest Over Last 30 Days
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| SHOP | CALL | SWEEP | BEARISH | 01/16/26 | $22.8 | $22.3 | $22.3 | $70.00 | $131.5K | 2.2K | 12 |
| SHOP | CALL | SWEEP | BULLISH | 12/20/24 | $6.7 | $6.65 | $6.7 | $80.00 | $111.2K | 4.1K | 220 |
| SHOP | CALL | SWEEP | BEARISH | 01/16/26 | $22.8 | $22.3 | $22.3 | $70.00 | $60.2K | 2.2K | 98 |
| SHOP | CALL | SWEEP | NEUTRAL | 09/19/25 | $41.45 | $40.95 | $41.17 | $40.00 | $57.6K | 63 | 14 |
| SHOP | CALL | SWEEP | BULLISH | 01/17/25 | $29.45 | $29.35 | $29.45 | $50.00 | $50.0K | 5.5K | 2 |
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.
Shopify's Current Market Status
- Trading volume stands at 1,981,895, with SHOP's price down by -0.37%, positioned at $79.84.
- RSI indicators show the stock to be may be approaching overbought.
- Earnings announcement expected in 30 days.
What The Experts Say On Shopify
A total of 5 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $86.4.
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. * An analyst from Cantor Fitzgerald downgraded its action to Neutral with a price target of $70. * An analyst from Cantor Fitzgerald has revised its rating downward to Neutral, adjusting the price target to $70. * An analyst from Wells Fargo has decided to maintain their Overweight rating on Shopify, which currently sits at a price target of $90. * An analyst from Citigroup has decided to maintain their Buy rating on Shopify, which currently sits at a price target of $103. * An analyst from Redburn Atlantic upgraded its action to Buy with a price target of $99.
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 Shopify 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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