27% profits every 20 days?
This is what Nic Chahine averages with his options buys. Not selling covered calls or spreads... BUYING options. Most traders don't even have a winning percentage of 27% buying options. He has an 83% win rate. Here's how he does it.
Whales with a lot of money to spend have taken a noticeably bullish stance on Shopify.
Looking at options history for Shopify (NYSE:SHOP) we detected 22 trades.
If we consider the specifics of each trade, it is accurate to state that 54% of the investors opened trades with bullish expectations and 45% with bearish.
From the overall spotted trades, 4 are puts, for a total amount of $134,020 and 18, calls, for a total amount of $2,275,593.
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 $110.0 for Shopify over the recent three months.
Volume & Open Interest Development
Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.
This data can help you track the liquidity and interest for Shopify'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 Shopify's whale activity within a strike price range from $25.0 to $110.0 in the last 30 days.
Shopify Call and Put Volume: 30-Day Overview
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| SHOP | CALL | TRADE | BULLISH | 06/21/24 | $45.00 | $350.0K | 845 | 547 |
| SHOP | CALL | TRADE | BULLISH | 06/21/24 | $45.00 | $219.0K | 845 | 445 |
| SHOP | CALL | TRADE | BEARISH | 06/21/24 | $45.00 | $177.7K | 845 | 747 |
| SHOP | CALL | TRADE | BULLISH | 06/21/24 | $45.00 | $177.5K | 845 | 847 |
| SHOP | CALL | TRADE | BEARISH | 06/21/24 | $45.00 | $177.2K | 845 | 747 |
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.
Where Is Shopify Standing Right Now?
- Trading volume stands at 2,566,658, with SHOP's price up by 1.55%, positioned at $78.89.
- RSI indicators show the stock to be may be approaching overbought.
- Earnings announcement expected in 36 days.
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 Shopify options trades with real-time alerts from Benzinga Pro.
27% profits every 20 days?
This is what Nic Chahine averages with his options buys. Not selling covered calls or spreads... BUYING options. Most traders don't even have a winning percentage of 27% buying options. He has an 83% win rate. Here's how he does it.
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