Behind the Scenes of Shopify's Latest Options Trends

Whales with a lot of money to spend have taken a noticeably bearish stance on Shopify.

Looking at options history for Shopify SHOP we detected 21 trades.

If we consider the specifics of each trade, it is accurate to state that 47% of the investors opened trades with bullish expectations and 52% with bearish.

From the overall spotted trades, 4 are puts, for a total amount of $353,115 and 17, calls, for a total amount of $1,938,406.

Projected Price Targets

After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $25.0 and $100.0 for Shopify, spanning the last three months.

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 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 trades within a strike price range from $25.0 to $100.0 in the last 30 days.

Shopify 30-Day Option Volume & Interest Snapshot

Biggest Options Spotted:

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.

Present Market Standing of Shopify

• Trading volume stands at 4,340,579, with SHOP's price up by 0.6%, positioned at $73.91.
• RSI indicators show the stock to be may be approaching oversold.
• Earnings announcement expected in 57 days.

Professional Analyst Ratings for Shopify

A total of 5 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $80.6.

• An analyst from Goldman Sachs has decided to maintain their Neutral rating on Shopify, which currently sits at a price target of $75.
• Reflecting concerns, an analyst from RBC Capital lowers its rating to Outperform with a new price target of $100.
• An analyst from Mizuho has decided to maintain their Neutral rating on Shopify, which currently sits at a price target of $75.
• Consistent in their evaluation, an analyst from Wells Fargo keeps a Overweight rating on Shopify with a target price of $85.
• An analyst from Barclays persists with their Equal-Weight rating on Shopify, maintaining a target price of $68.

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.