Market Whales and Their Recent Bets on SHOP Options

Financial giants have made a conspicuous bullish move on Shopify. Our analysis of options history for Shopify SHOP revealed 29 unusual trades.

Delving into the details, we found 51% of traders were bullish, while 34% showed bearish tendencies. Out of all the trades we spotted, 8 were puts, with a value of $561,625, and 21 were calls, valued at $1,026,308.

Latest Startup Investment Opportunities:

What's The Price Target?

Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $55.0 to $190.0 for Shopify over the recent three months.

Volume & Open Interest Trends

In terms of liquidity and interest, the mean open interest for Shopify options trades today is 1649.52 with a total volume of 6,361.00.

In the following chart, we are able to follow the development of volume and open interest of call and put options for Shopify's big money trades within a strike price range of $55.0 to $190.0 over the last 30 days.

Shopify Call and Put Volume: 30-Day Overview

Largest Options Trades Observed:

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.

Having examined the options trading patterns of Shopify, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance

Where Is Shopify Standing Right Now?

• With a trading volume of 4,706,835, the price of SHOP is up by 5.73%, reaching $111.04.
• Current RSI values indicate that the stock is may be overbought.
• Next earnings report is scheduled for 61 days from now.

Expert Opinions on Shopify

5 market experts have recently issued ratings for this stock, with a consensus target price of $111.2.

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. * Maintaining their stance, an analyst from Morgan Stanley continues to hold a Overweight rating for Shopify, targeting a price of $112. * Consistent in their evaluation, an analyst from UBS keeps a Neutral rating on Shopify with a target price of $110. * An analyst from Barclays persists with their Equal-Weight rating on Shopify, maintaining a target price of $94. * Consistent in their evaluation, an analyst from Wells Fargo keeps a Overweight rating on Shopify with a target price of $125. * An analyst from JP Morgan has decided to maintain their Overweight rating on Shopify, which currently sits at a price target of $115.

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.