Whales with a lot of money to spend have taken a noticeably bearish stance on Block.
Looking at options history for Block SQ we detected 21 trades.
If we consider the specifics of each trade, it is accurate to state that 42% of the investors opened trades with bullish expectations and 57% with bearish.
From the overall spotted trades, 5 are puts, for a total amount of $522,040 and 16, calls, for a total amount of $1,468,521.
Projected Price Targets
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $30.0 to $125.0 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 $30.0 to $125.0 in the last 30 days.
Block Option Activity Analysis: Last 30 Days
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| SQ | PUT | TRADE | BEARISH | 02/16/24 | $67.50 | $400.0K | 0 | 6 |
| SQ | CALL | SWEEP | BULLISH | 01/19/24 | $52.50 | $260.2K | 3.9K | 266 |
| SQ | CALL | SWEEP | BULLISH | 02/16/24 | $75.00 | $237.1K | 3.8K | 652 |
| SQ | CALL | SWEEP | BEARISH | 01/19/24 | $70.00 | $203.2K | 10.5K | 634 |
| SQ | CALL | TRADE | NEUTRAL | 01/19/24 | $72.50 | $120.8K | 7.9K | 9 |
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 2022, Square's payment volume was a little over $200 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
- Trading volume stands at 2,928,519, with SQ's price up by 0.15%, positioned at $69.28.
- RSI indicators show the stock to be may be overbought.
- Earnings announcement expected in 73 days.
What Analysts Are Saying About Block
In the last month, 2 experts released ratings on this stock with an average target price of $92.0.
- Reflecting concerns, an analyst from BMO Capital lowers its rating to Outperform with a new price target of $84.
- Consistent in their evaluation, an analyst from Barclays keeps a Overweight rating on Block with a target price of $100.
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Block with Benzinga Pro for real-time alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Date of Trade | ticker | Put/Call | Strike Price | DTE | Sentiment |
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