Shopify's Options: A Look at What the Big Money is Thinking

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 49 uncommon options trades for Shopify.

This isn't normal.

The overall sentiment of these big-money traders is split between 67% bullish and 22%, bearish.

Out of all of the special options we uncovered, 39 are puts, for a total amount of $3,155,786, and 10 are calls, for a total amount of $434,987.

What's The Price Target?

Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $70.0 to $160.0 for Shopify over the recent three months.

Volume & Open Interest Development

In today's trading context, the average open interest for options of Shopify stands at 2420.42, with a total volume reaching 18,748.00. 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 $70.0 to $160.0, throughout the last 30 days.

Shopify Option Volume And Open Interest Over Last 30 Days

Noteworthy Options Activity:

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.

Shopify's Current Market Status

• Currently trading with a volume of 7,731,808, the SHOP's price is up by 0.82%, now at $94.6.
• RSI readings suggest the stock is currently may be approaching overbought.
• Anticipated earnings release is in 1 days.

Expert Opinions on Shopify

Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $114.0.

Unusual Options Activity Detected: Smart Money on the Move

Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. Click here for access. * An analyst from Oppenheimer persists with their Outperform rating on Shopify, maintaining a target price of $125. * Maintaining their stance, an analyst from Loop Capital continues to hold a Buy rating for Shopify, targeting a price of $120. * Maintaining their stance, an analyst from DA Davidson continues to hold a Buy rating for Shopify, targeting a price of $115. * An analyst from Goldman Sachs persists with their Buy rating on Shopify, maintaining a target price of $130. * An analyst from Cantor Fitzgerald has decided to maintain their Neutral rating on Shopify, which currently sits at a price target of $80.

Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.

If you want to stay updated on the latest options trades for Shopify, Benzinga Pro gives you real-time options trades alerts.