Whales with a lot of money to spend have taken a noticeably bullish stance on Block.
Looking at options history for Block SQ we detected 18 trades.
If we consider the specifics of each trade, it is accurate to state that 61% of the investors opened trades with bullish expectations and 27% with bearish.
From the overall spotted trades, 5 are puts, for a total amount of $175,133 and 13, calls, for a total amount of $534,581.
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 $60.0 and $130.0 for Block, spanning the last three months.
Analyzing Volume & Open Interest
Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for Block'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 Block's whale trades within a strike price range from $60.0 to $130.0 in the last 30 days.
Block Call and Put Volume: 30-Day Overview
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| SQ | CALL | SWEEP | BULLISH | 01/15/27 | $17.05 | $17.0 | $17.0 | $125.00 | $107.6K | 480 | 46 |
| SQ | CALL | TRADE | BULLISH | 12/20/24 | $1.99 | $1.93 | $1.97 | $100.00 | $55.1K | 10.8K | 508 |
| SQ | CALL | TRADE | BEARISH | 12/27/24 | $22.65 | $22.3 | $22.3 | $70.00 | $44.6K | 39 | 20 |
| SQ | CALL | SWEEP | BULLISH | 01/17/25 | $1.04 | $1.0 | $1.05 | $120.00 | $42.0K | 16.3K | 755 |
| SQ | PUT | TRADE | BULLISH | 02/21/25 | $35.1 | $34.3 | $34.3 | $125.00 | $41.1K | 0 | 45 |
About Block
Founded in 2009, Block provides payment services to merchants, along with related services. The company also launched Cash App, a person-to-person payment network. In 2023, Square's payment volume was a little over $200 million.
Having examined the options trading patterns of Block, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
Where Is Block Standing Right Now?
- With a volume of 3,058,853, the price of SQ is up 0.26% at $91.03.
- RSI indicators hint that the underlying stock may be overbought.
- Next earnings are expected to be released in 93 days.
Expert Opinions on Block
A total of 5 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $92.2.
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. * An analyst from RBC Capital has revised its rating downward to Outperform, adjusting the price target to $88. * An analyst from Canaccord Genuity persists with their Buy rating on Block, maintaining a target price of $120. * An analyst from Keefe, Bruyette & Woods has decided to maintain their Market Perform rating on Block, which currently sits at a price target of $80. * An analyst from Piper Sandler has revised its rating downward to Overweight, adjusting the price target to $83. * An analyst from Needham persists with their Buy rating on Block, maintaining a target price of $90.
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 Block 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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