Block's Options Frenzy: What You Need to Know

Investors with a lot of money to spend have taken a bullish stance on Block XYZ.

And retail traders should know.

We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.

Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with XYZ, it often means somebody knows something is about to happen.

So how do we know what these investors just did?

Today, Benzinga's options scanner spotted 18 uncommon options trades for Block.

This isn't normal.

The overall sentiment of these big-money traders is split between 61% bullish and 27%, bearish.

Out of all of the special options we uncovered, 10 are puts, for a total amount of $565,330, and 8 are calls, for a total amount of $377,470.

What's The Price Target?

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $55.0 to $80.0 for Block over the last 3 months.

Volume & Open Interest Trends

In terms of liquidity and interest, the mean open interest for Block options trades today is 1349.67 with a total volume of 3,529.00.

In the following chart, we are able to follow the development of volume and open interest of call and put options for Block's big money trades within a strike price range of $55.0 to $80.0 over the last 30 days.

Block Option Activity Analysis: Last 30 Days

Biggest Options Spotted:

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.

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?

• Currently trading with a volume of 3,877,731, the XYZ's price is down by -2.97%, now at $66.64.
• RSI readings suggest the stock is currently may be approaching overbought.
• Anticipated earnings release is in 23 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 $70.8.

Turn $1000 into $1270 in just 20 days?

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 Oppenheimer has decided to maintain their Outperform rating on Block, which currently sits at a price target of $71. * An analyst from Piper Sandler has revised its rating downward to Underweight, adjusting the price target to $50. * Consistent in their evaluation, an analyst from Keefe, Bruyette & Woods keeps a Outperform rating on Block with a target price of $80. * Reflecting concerns, an analyst from Compass Point lowers its rating to Buy with a new price target of $80. * An analyst from Morgan Stanley has decided to maintain their Overweight rating on Block, which currently sits at a price target of $73.

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.