Deep-pocketed investors have adopted a bearish approach towards Block SQ, and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in SQ usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 12 extraordinary options activities for Block. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 8% leaning bullish and 83% bearish. Among these notable options, 7 are puts, totaling $414,261, and 5 are calls, amounting to $421,848.
Predicted Price Range
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $57.5 to $110.0 for Block over the recent three months.
Volume & Open Interest Development
Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.
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 activity within a strike price range from $57.5 to $110.0 in the last 30 days.
Block 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| SQ | PUT | TRADE | BEARISH | 12/20/24 | $25.8 | $25.3 | $25.6 | $90.00 | $192.0K | 212 | 75 |
| SQ | CALL | SWEEP | BEARISH | 09/20/24 | $12.05 | $11.9 | $11.9 | $57.50 | $168.9K | 188 | 143 |
| SQ | CALL | SWEEP | BEARISH | 09/20/24 | $12.05 | $11.9 | $11.9 | $57.50 | $127.3K | 188 | 250 |
| SQ | CALL | SWEEP | BEARISH | 06/20/25 | $3.95 | $3.35 | $3.4 | $110.00 | $51.0K | 1.3K | 23 |
| SQ | PUT | SWEEP | NEUTRAL | 05/31/24 | $0.86 | $0.84 | $0.84 | $65.00 | $50.4K | 7.4K | 903 |
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 2023, Square's payment volume was a little over $200 million.
In light of the recent options history for Block, it's now appropriate to focus on the company itself. We aim to explore its current performance.
Present Market Standing of Block
- Currently trading with a volume of 1,690,930, the SQ's price is down by -1.24%, now at $65.26.
- RSI readings suggest the stock is currently is currently neutral between overbought and oversold.
- Anticipated earnings release is in 64 days.
Professional Analyst Ratings for Block
In the last month, 5 experts released ratings on this stock with an average target price of $93.4.
- Maintaining their stance, an analyst from Citigroup continues to hold a Buy rating for Block, targeting a price of $90.
- Consistent in their evaluation, an analyst from Baird keeps a Outperform rating on Block with a target price of $100.
- An analyst from Canaccord Genuity has decided to maintain their Buy rating on Block, which currently sits at a price target of $95.
- An analyst from TD Cowen has decided to maintain their Buy rating on Block, which currently sits at a price target of $92.
- An analyst from Wedbush has revised its rating downward to Outperform, adjusting the price target to $90.
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 Block options trades with real-time alerts from Benzinga Pro.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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