Financial giants have made a conspicuous bearish move on Block. Our analysis of options history for Block SQ revealed 18 unusual trades.
Delving into the details, we found 38% of traders were bullish, while 61% showed bearish tendencies. Out of all the trades we spotted, 4 were puts, with a value of $174,528, and 14 were calls, valued at $895,162.
Projected Price Targets
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $55.0 to $130.0 for Block during the past quarter.
Analyzing Volume & Open Interest
Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for Block'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 Block's whale trades within a strike price range from $55.0 to $130.0 in the last 30 days.
Block 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 |
|---|---|---|---|---|---|---|---|---|
| SQ | CALL | TRADE | NEUTRAL | 06/21/24 | $55.00 | $297.2K | 1.5K | 0 |
| SQ | CALL | SWEEP | BULLISH | 05/17/24 | $80.00 | $83.7K | 3.5K | 143 |
| SQ | PUT | SWEEP | BULLISH | 06/21/24 | $80.00 | $74.8K | 1.5K | 89 |
| SQ | CALL | TRADE | BEARISH | 06/20/25 | $100.00 | $61.2K | 874 | 57 |
| SQ | CALL | SWEEP | BEARISH | 03/15/24 | $81.00 | $60.7K | 807 | 510 |
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 2022, Square's payment volume was a little over $200 million.
After a thorough review of the options trading surrounding Block, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Current Position of Block
- With a volume of 2,738,794, the price of SQ is up 0.06% at $79.3.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 59 days.
What The Experts Say On Block
In the last month, 5 experts released ratings on this stock with an average target price of $91.0.
- Showing optimism, an analyst from Wells Fargo upgrades its rating to Overweight with a revised price target of $95.
- Consistent in their evaluation, an analyst from Citigroup keeps a Buy rating on Block with a target price of $86.
- Consistent in their evaluation, an analyst from Canaccord Genuity keeps a Buy rating on Block with a target price of $95.
- An analyst from Benchmark downgraded its action to Buy with a price target of $89.
- In a cautious move, an analyst from Wedbush downgraded its rating to Outperform, setting a price target of $90.
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.
© 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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