Whales with a lot of money to spend have taken a noticeably bearish stance on Block.
Looking at options history for Block (NYSE:SQ) we detected 21 trades.
If we consider the specifics of each trade, it is accurate to state that 47% of the investors opened trades with bullish expectations and 52% with bearish.
From the overall spotted trades, 9 are puts, for a total amount of $476,628 and 12, calls, for a total amount of $488,844.
Projected Price Targets
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $42.5 and $100.0 for Block, spanning the last three months.
Volume & Open Interest Trends
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 $42.5 to $100.0 in the last 30 days.
Block Option Volume And Open Interest Over Last 30 Days
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| SQ | PUT | SWEEP | NEUTRAL | 01/19/24 | $80.00 | $119.6K | 438 | 103 |
| SQ | CALL | SWEEP | NEUTRAL | 02/16/24 | $60.00 | $105.6K | 1.7K | 139 |
| SQ | PUT | SWEEP | BULLISH | 04/19/24 | $57.50 | $60.0K | 672 | 259 |
| SQ | CALL | TRADE | BEARISH | 01/17/25 | $42.50 | $60.0K | 256 | 0 |
| SQ | PUT | SWEEP | BULLISH | 02/16/24 | $70.00 | $58.2K | 2.9K | 245 |
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.
Following our analysis of the options activities associated with Block, we pivot to a closer look at the company's own performance.
Current Position of Block
- Currently trading with a volume of 5,342,670, the SQ's price is up by 1.18%, now at $67.75.
- RSI readings suggest the stock is currently is currently neutral between overbought and oversold.
- Anticipated earnings release is in 45 days.
Professional Analyst Ratings for Block
In the last month, 1 experts released ratings on this stock with an average target price of $99.0.
- An analyst from Mizuho persists with their Buy rating on Block, maintaining a target price of $99.
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.
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