Investors with a lot of money to spend have taken a bullish stance on Shopify SHOP.
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 SHOP, 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 15 uncommon options trades for Shopify.
This isn't normal.
The overall sentiment of these big-money traders is split between 53% bullish and 46%, bearish.
Out of all of the special options we uncovered, 6 are puts, for a total amount of $404,391, and 9 are calls, for a total amount of $553,888.
Expected Price Movements
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $45.0 to $85.0 for Shopify during the past quarter.
Analyzing Volume & Open Interest
In terms of liquidity and interest, the mean open interest for Shopify options trades today is 2138.4 with a total volume of 11,312.00.
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 $45.0 to $85.0 over the last 30 days.
Shopify Option Activity Analysis: Last 30 Days
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| SHOP | CALL | SWEEP | BEARISH | 02/02/24 | $82.00 | $307.4K | 4.3K | 2.6K |
| SHOP | PUT | TRADE | BEARISH | 03/15/24 | $65.00 | $152.6K | 11.1K | 1.4K |
| SHOP | PUT | SWEEP | BEARISH | 04/19/24 | $85.00 | $67.5K | 755 | 87 |
| SHOP | PUT | TRADE | BULLISH | 09/20/24 | $75.00 | $58.1K | 144 | 303 |
| SHOP | PUT | SWEEP | BULLISH | 09/20/24 | $75.00 | $55.7K | 144 | 177 |
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.
Having examined the options trading patterns of Shopify, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
Shopify's Current Market Status
- With a trading volume of 2,135,857, the price of SHOP is down by -1.28%, reaching $81.28.
- Current RSI values indicate that the stock is may be approaching overbought.
- Next earnings report is scheduled for 13 days from now.
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 Shopify with Benzinga Pro for real-time alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Date of Trade | ticker | Put/Call | Strike Price | DTE | Sentiment |
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