Shopify Unusual Options Activity For May 03

Financial giants have made a conspicuous bullish move on Shopify. Our analysis of options history for Shopify 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.

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Posted In: OptionsMarketsBZI-UOA
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