Decoding Block's Options Activity: What's the Big Picture?

Investors with a lot of money to spend have taken a bullish stance on Block XYZ.

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 XYZ, 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 15 uncommon options trades for Block.

This isn't normal.

The overall sentiment of these big-money traders is split between 53% bullish and 46%, bearish.

Out of all of the special options we uncovered, 4 are puts, for a total amount of $406,022, and 11 are calls, for a total amount of $628,344.

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What's The Price Target?

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $25.0 to $100.0 for Block over the last 3 months.

Analyzing Volume & Open Interest

In today's trading context, the average open interest for options of Block stands at 1209.77, with a total volume reaching 5,187.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Block, situated within the strike price corridor from $25.0 to $100.0, throughout the last 30 days.

Block Option Activity Analysis: Last 30 Days

Biggest Options Spotted:

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 2024, Square's payment volume was almost USD 250 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.

Current Position of Block

• With a volume of 2,162,644, the price of XYZ is up 0.85% at $64.4.
• RSI indicators hint that the underlying stock may be overbought.
• Next earnings are expected to be released in 56 days.

Professional Analyst Ratings for Block

5 market experts have recently issued ratings for this stock, with a consensus target price of $69.0.

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. * Consistent in their evaluation, an analyst from Jefferies keeps a Buy rating on Block with a target price of $70. * Consistent in their evaluation, an analyst from Raymond James keeps a Outperform rating on Block with a target price of $79. * Reflecting concerns, an analyst from Truist Securities lowers its rating to Sell with a new price target of $60. * An analyst from Truist Securities has decided to maintain their Sell rating on Block, which currently sits at a price target of $61. * An analyst from Evercore ISI Group has elevated its stance to Outperform, setting a new price target at $75.

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.