A Closer Look at Shopify's Options Market Dynamics

Whales with a lot of money to spend have taken a noticeably bullish stance on Shopify.

Looking at options history for Shopify SHOP we detected 8 trades.

If we consider the specifics of each trade, it is accurate to state that 62% of the investors opened trades with bullish expectations and 25% with bearish.

From the overall spotted trades, 3 are puts, for a total amount of $97,521 and 5, calls, for a total amount of $295,670.

What's The Price Target?

Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $65.0 to $120.0 for Shopify during the past quarter.

Volume & Open Interest Development

In terms of liquidity and interest, the mean open interest for Shopify options trades today is 5355.67 with a total volume of 309.00.

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 $65.0 to $120.0 over the last 30 days.

Shopify 30-Day Option Volume & Interest Snapshot

Significant Options Trades Detected:

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.

Current Position of Shopify

• With a volume of 1,024,442, the price of SHOP is down -1.54% at $81.16.
• RSI indicators hint that the underlying stock may be overbought.
• Next earnings are expected to be released in 24 days.

Professional Analyst Ratings for Shopify

Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $88.4.

Turn $1000 into $1270 in just 20 days?

20-year pro options trader reveals his one-line chart technique that shows when to buy and sell. Copy his trades, which have had averaged a 27% profit every 20 days. Click here for access. * Reflecting concerns, an analyst from JMP Securities lowers its rating to Market Outperform with a new price target of $80. * An analyst from Redburn Atlantic has elevated its stance to Buy, setting a new price target at $99. * An analyst from Barclays has decided to maintain their Equal-Weight rating on Shopify, which currently sits at a price target of $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 persists with their Buy rating on Shopify, maintaining a target price of $103.

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.