Decoding Block's Options Activity: What's the Big Picture?

Deep-pocketed investors have adopted a bearish approach towards Block XYZ, 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 XYZ usually suggests something big is about to happen.

We gleaned this information from our observations today when Benzinga's options scanner highlighted 16 extraordinary options activities for Block. This level of activity is out of the ordinary.

The general mood among these heavyweight investors is divided, with 31% leaning bullish and 56% bearish. Among these notable options, 3 are puts, totaling $174,424, and 13 are calls, amounting to $906,445.

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 $32.5 and $145.0 for Block, spanning the last three months.

Analyzing Volume & Open Interest

Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Block's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Block's substantial trades, within a strike price spectrum from $32.5 to $145.0 over the preceding 30 days.

Block Call and Put Volume: 30-Day Overview

Largest Options Trades Observed:

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 2024, Square's payment volume was almost USD 250 million.

In light of the recent options history for Block, it's now appropriate to focus on the company itself. We aim to explore its current performance.

Current Position of Block

• With a volume of 2,640,969, the price of XYZ is up 1.8% at $58.25.
• RSI indicators hint that the underlying stock may be oversold.
• Next earnings are expected to be released in 45 days.

Professional Analyst Ratings for 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 $98.2.

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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 Citigroup has decided to maintain their Buy rating on Block, which currently sits at a price target of $90. * An analyst from Needham downgraded its action to Buy with a price target of $90. * An analyst from Seaport Global has decided to maintain their Buy rating on Block, which currently sits at a price target of $101. * An analyst from Macquarie persists with their Outperform rating on Block, maintaining a target price of $110. * Maintaining their stance, an analyst from Canaccord Genuity continues to hold a Buy rating for Block, targeting a price of $100.

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 Block with Benzinga Pro for real-time alerts.