Shopify Unusual Options Activity

Deep-pocketed investors have adopted a bearish 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 15 extraordinary options activities for Shopify. This level of activity is out of the ordinary.

The general mood among these heavyweight investors is divided, with 33% leaning bullish and 40% bearish. Among these notable options, 2 are puts, totaling $53,320, and 13 are calls, amounting to $494,750.

Predicted Price Range

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $50.0 to $170.0 for Shopify over the last 3 months.

Volume & Open Interest Trends

In today's trading context, the average open interest for options of Shopify stands at 2029.36, with a total volume reaching 1,909.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Shopify, situated within the strike price corridor from $50.0 to $170.0, throughout 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.

Following our analysis of the options activities associated with Shopify, we pivot to a closer look at the company's own performance.

Shopify's Current Market Status

• Trading volume stands at 1,515,768, with SHOP's price down by -1.3%, positioned at $107.08.
• RSI indicators show the stock to be may be overbought.
• Earnings announcement expected in 85 days.

What Analysts Are Saying About Shopify

In the last month, 5 experts released ratings on this stock with an average target price of $124.2.

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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. * An analyst from Wells Fargo persists with their Overweight rating on Shopify, maintaining a target price of $120. * Maintaining their stance, an analyst from Keybanc continues to hold a Overweight rating for Shopify, targeting a price of $130. * Maintaining their stance, an analyst from Baird continues to hold a Outperform rating for Shopify, targeting a price of $126. * Maintaining their stance, an analyst from Goldman Sachs continues to hold a Buy rating for Shopify, targeting a price of $135. * Consistent in their evaluation, an analyst from Truist Securities keeps a Hold rating on Shopify with a target price of $110.

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