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.
Financial giants have made a conspicuous bullish move on Shopify. Our analysis of options history for Shopify (NYSE:SHOP) revealed 34 unusual trades.
Delving into the details, we found 61% of traders were bullish, while 11% showed bearish tendencies. Out of all the trades we spotted, 8 were puts, with a value of $265,699, and 26 were calls, valued at $1,173,819.
Expected Price Movements
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $50.0 to $90.0 for Shopify over the last 3 months.
Volume & Open Interest Development
In today's trading context, the average open interest for options of Shopify stands at 1770.65, with a total volume reaching 7,749.00. 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 $50.0 to $90.0, throughout the last 30 days.
Shopify Option Activity Analysis: Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| SHOP | CALL | SWEEP | BEARISH | 05/17/24 | $1.46 | $1.37 | $1.37 | $85.00 | $123.5K | 5.3K | 385 |
| SHOP | CALL | SWEEP | BEARISH | 07/19/24 | $6.85 | $6.8 | $6.8 | $75.00 | $102.0K | 1.7K | 692 |
| SHOP | CALL | SWEEP | BULLISH | 01/17/25 | $7.6 | $7.45 | $7.59 | $90.00 | $79.7K | 4.5K | 307 |
| SHOP | CALL | TRADE | NEUTRAL | 05/17/24 | $2.74 | $2.61 | $2.68 | $80.00 | $67.0K | 5.4K | 287 |
| SHOP | CALL | TRADE | NEUTRAL | 01/17/25 | $7.7 | $7.5 | $7.61 | $90.00 | $64.6K | 4.5K | 222 |
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.
Following our analysis of the options activities associated with Shopify, we pivot to a closer look at the company's own performance.
Shopify's Current Market Status
- With a volume of 4,863,368, the price of SHOP is up 2.85% at $74.05.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 5 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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