A Closer Look at Shopify's Options Market Dynamics

Financial giants have made a conspicuous bearish move on Shopify. Our analysis of options history for Shopify SHOP revealed 17 unusual trades.

Delving into the details, we found 47% of traders were bullish, while 52% showed bearish tendencies. Out of all the trades we spotted, 6 were puts, with a value of $361,777, and 11 were calls, valued at $487,185.

Predicted Price Range

Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $25.0 to $140.0 for Shopify over the recent three months.

Volume & Open Interest Development

In today's trading context, the average open interest for options of Shopify stands at 1873.0, with a total volume reaching 1,028.00. 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 $25.0 to $140.0, throughout the last 30 days.

Shopify Option Volume And Open Interest Over Last 30 Days

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.

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.

Present Market Standing of Shopify

• With a trading volume of 5,413,612, the price of SHOP is down by -7.49%, reaching $92.63.
• Current RSI values indicate that the stock is may be oversold.
• Next earnings report is scheduled for 58 days from now.

What Analysts Are Saying About Shopify

5 market experts have recently issued ratings for this stock, with a consensus target price of $135.0.

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 Truist Securities persists with their Hold rating on Shopify, maintaining a target price of $120. * Maintaining their stance, an analyst from Scotiabank continues to hold a Sector Perform rating for Shopify, targeting a price of $120. * An analyst from Goldman Sachs has decided to maintain their Buy rating on Shopify, which currently sits at a price target of $150. * Maintaining their stance, an analyst from RBC Capital continues to hold a Outperform rating for Shopify, targeting a price of $145. * An analyst from Canaccord Genuity persists with their Buy rating on Shopify, maintaining a target price of $140.

Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Shopify with Benzinga Pro for real-time alerts.