Deep-pocketed investors have adopted a bullish approach towards Shopify SHOP, 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 SHOP usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 121 extraordinary options activities for Shopify. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 44% leaning bullish and 42% bearish. Among these notable options, 50 are puts, totaling $2,359,943, and 71 are calls, amounting to $5,026,047.
Projected Price Targets
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $50.0 and $135.0 for Shopify, spanning the last three months.
Volume & Open Interest Trends
In terms of liquidity and interest, the mean open interest for Shopify options trades today is 2124.35 with a total volume of 112,583.00.
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 $50.0 to $135.0 over the last 30 days.
Shopify Option Volume And Open Interest Over 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 | SWEEP | BEARISH | 11/22/24 | $6.6 | $6.45 | $6.48 | $92.00 | $244.8K | 509 | 1.9K |
| SHOP | CALL | SWEEP | BULLISH | 11/15/24 | $6.2 | $6.0 | $6.15 | $92.00 | $232.3K | 3.2K | 2.8K |
| SHOP | PUT | SWEEP | BULLISH | 01/17/25 | $5.7 | $5.6 | $5.6 | $85.00 | $140.0K | 4.8K | 519 |
| SHOP | PUT | SWEEP | BULLISH | 11/15/24 | $10.45 | $10.35 | $10.35 | $97.00 | $80.7K | 0 | 366 |
| SHOP | PUT | TRADE | BULLISH | 12/27/24 | $4.15 | $4.0 | $4.0 | $83.00 | $80.0K | 0 | 200 |
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.
Where Is Shopify Standing Right Now?
- Trading volume stands at 13,725,216, with SHOP's price up by 3.33%, positioned at $90.02.
- RSI indicators show the stock to be may be overbought.
- Earnings announcement expected in 1 days.
Professional Analyst Ratings for Shopify
A total of 2 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $90.0.
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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. * Consistent in their evaluation, an analyst from RBC Capital keeps a Outperform rating on Shopify with a target price of $100. * Consistent in their evaluation, an analyst from Scotiabank keeps a Sector Perform rating on Shopify with a target price of $80.
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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