Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
A whale with a lot of money to spend has taken a noticeably bullish stance on Shopify.
Looking at options history for Shopify (NYSE:SHOP) we detected 11 strange trades.
ENTER TO WIN $500 IN STOCK OR CRYPTO
Enter your email and you'll also get Benzinga's ultimate morning update AND a free $30 gift card and more!
If we consider the specifics of each trade, it is accurate to state that 63% of the investors opened trades with bullish expectations and 36% with bearish.
From the overall spotted trades, 6 are puts, for a total amount of $1,490,534 and 5, calls, for a total amount of $178,161.
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 $29.5 to $100.0 for Shopify over the last 3 months.
Volume & Open Interest Development
In terms of liquidity and interest, the mean open interest for Shopify options trades today is 1084.7 with a total volume of 1,832.00.
Want Private Access to Benzinga Analyst?
Check out the latest strategies our team of experts are using every week so that you can always adapt to the market like the pros!—Get FULL Access to This Week's Webinar Here.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Shopify's big money trades within a strike price range of $29.5 to $100.0 over the last 30 days.
Shopify Option Volume And Open Interest Over Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| SHOP | PUT | TRADE | BULLISH | 01/20/23 | $86.00 | $683.7K | 590 | 125 |
| SHOP | PUT | TRADE | BULLISH | 11/18/22 | $62.00 | $524.4K | 25 | 170 |
| SHOP | PUT | SWEEP | BULLISH | 01/19/24 | $60.00 | $141.9K | 2.3K | 46 |
| SHOP | PUT | TRADE | BEARISH | 03/17/23 | $79.00 | $58.3K | 45 | 12 |
| SHOP | CALL | TRADE | BEARISH | 03/17/23 | $36.00 | $49.0K | 415 | 99 |
Where Is Shopify Standing Right Now?
- With a volume of 3,536,564, the price of SHOP is down -0.97% at $30.68.
- RSI indicators hint that the underlying stock may be oversold.
- Next earnings are expected to be released in 49 days.
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.
If you want to stay updated on the latest options trades for Shopify, Benzinga Pro gives you real-time options trades alerts.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.