Looking At Block's Recent Whale Trades

Someone with a lot of money to spend has taken a bullish stance on Block SQ.

And retail traders should know.

We noticed this today when the big position showed up on publicly available options history that we track here at Benzinga.

Whether this is an institution or just a wealthy individual, we don't know. But when something this big happens with SQ, it often means somebody knows something is about to happen.

So how do we know what this whale just did?

Today, Benzinga's options scanner spotted 10 uncommon options trades for Block.

This isn't normal.

The overall sentiment of these big-money traders is split between 60% bullish and 40%, bearish.

Out of all of the special options we uncovered, 2 are puts, for a total amount of $65,788, and 8 are calls, for a total amount of $499,494.

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 $70.0 to $250.0 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 $70.0 to $250.0 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 CALL TRADE BULLISH 05/20/22 $70.00 $111.4K 900 84
SQ CALL SWEEP BULLISH 05/27/22 $96.00 $85.4K 383 1.0K
SQ CALL SWEEP BULLISH 01/19/24 $115.00 $80.5K 1.6K 54
SQ CALL SWEEP BEARISH 05/27/22 $96.00 $78.0K 383 2.0K
SQ CALL TRADE BEARISH 06/17/22 $70.00 $42.2K 379 36

Symbol PUT/CALL Trade Type Sentiment Exp. Date Strike Price Total Trade Price Open Interest Volume
SQ CALL TRADE BULLISH 05/20/22 $70.00 $111.4K 900 84
SQ CALL SWEEP BULLISH 05/27/22 $96.00 $85.4K 383 1.0K
SQ CALL SWEEP BULLISH 01/19/24 $115.00 $80.5K 1.6K 54
SQ CALL SWEEP BEARISH 05/27/22 $96.00 $78.0K 383 2.0K
SQ CALL TRADE BEARISH 06/17/22 $70.00 $42.2K 379 36

Where Is Block Standing Right Now?

  • With a volume of 4,317,153, the price of SQ is down -0.73% at $86.5.
  • RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
  • Next earnings are expected to be released in 73 days.

What The Experts Say On Block:

  • Credit Suisse has decided to maintain their Outperform rating on Block, which currently sits at a price target of $180.
  • Barclays has decided to maintain their Overweight rating on Block, which currently sits at a price target of $150.
  • Piper Sandler has decided to maintain their Neutral rating on Block, which currently sits at a price target of $105.
  • Morgan Stanley has decided to maintain their Equal-Weight rating on Block, which currently sits at a price target of $110.
  • Needham 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