Looking At Block's Recent Whale Trades

A whale with a lot of money to spend has taken a noticeably bearish stance on Block.

Looking at options history for Block SQ we detected 27 strange trades.

If we consider the specifics of each trade, it is accurate to state that 33% of the investors opened trades with bullish expectations and 66% with bearish.

From the overall spotted trades, 19 are puts, for a total amount of $2,207,834 and 8, calls, for a total amount of $525,684.

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 $55.0 to $270.0 for Block over the last 3 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 $55.0 to $270.0 in the last 30 days.

Block Option Volume And Open Interest Over Last 30 Days

Biggest Options Spotted:

Symbol PUT/CALL Trade Type Sentiment Exp. Date Strike Price Total Trade Price Open Interest Volume
SQ PUT TRADE BEARISH 06/17/22 $270.00 $928.5K 369 50
SQ PUT TRADE BEARISH 06/17/22 $250.00 $333.8K 658 20
SQ PUT SWEEP BEARISH 01/20/23 $65.00 $230.0K 4.2K 200
SQ CALL TRADE BULLISH 05/20/22 $77.00 $143.0K 53 216
SQ PUT SWEEP BEARISH 06/16/23 $75.00 $121.1K 735 72

Symbol PUT/CALL Trade Type Sentiment Exp. Date Strike Price Total Trade Price Open Interest Volume
SQ PUT TRADE BEARISH 06/17/22 $270.00 $928.5K 369 50
SQ PUT TRADE BEARISH 06/17/22 $250.00 $333.8K 658 20
SQ PUT SWEEP BEARISH 01/20/23 $65.00 $230.0K 4.2K 200
SQ CALL TRADE BULLISH 05/20/22 $77.00 $143.0K 53 216
SQ PUT SWEEP BEARISH 06/16/23 $75.00 $121.1K 735 72

Where Is Block Standing Right Now?

  • With a volume of 4,155,900, the price of SQ is up 1.66% at $81.02.
  • RSI indicators hint that the underlying stock may be approaching oversold.
  • Next earnings are expected to be released in 76 days.

What The Experts Say On Block:

  • Barclays has decided to maintain their Overweight rating on Block, which currently sits at a price target of $150.
  • Needham has decided to maintain their Buy rating on Block, which currently sits at a price target of $135.
  • Morgan Stanley has decided to maintain their Equal-Weight rating on Block, which currently sits at a price target of $118.
  • Oppenheimer downgraded its action to Outperform with a price target of $150
  • Mizuho has decided to maintain their Buy rating on Block, which currently sits at a price target of $135.

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 {d[company_name]}, Benzinga Progives you real-time options trades alerts.

Posted In: BZI-UOAOptionsMarkets