Decoding Block's Options Activity: What's the Big Picture?
Financial giants have made a conspicuous bearish move on Block. Our analysis of options history for Block SQ revealed 15 unusual trades.
Delving into the details, we found 40% of traders were bullish, while 46% showed bearish tendencies. Out of all the trades we spotted, 3 were puts, with a value of $92,180, and 12 were calls, valued at $1,227,460.
Expected Price Movements
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 $125.0 for Block over the last 3 months.
Volume & Open Interest Development
Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Block’s options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Block’s substantial trades, within a strike price spectrum from $70.0 to $125.0 over the preceding 30 days.
Block Option Activity Analysis: Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| SQ | CALL | TRADE | BEARISH | 01/17/25 | $13.65 | $13.45 | $13.45 | $72.50 | $402.1K | 2.3K | 306 |
| SQ | CALL | SWEEP | BEARISH | 12/20/24 | $2.36 | $2.25 | $2.36 | $90.00 | $202.4K | 3.7K | 1.1K |
| SQ | CALL | TRADE | NEUTRAL | 11/22/24 | $0.27 | $0.23 | $0.25 | $93.00 | $160.6K | 7.3K | 6.7K |
| SQ | CALL | SWEEP | BULLISH | 01/15/27 | $13.55 | $13.45 | $13.55 | $125.00 | $135.5K | 341 | 111 |
| SQ | CALL | SWEEP | BEARISH | 12/20/24 | $15.5 | $15.25 | $15.35 | $70.00 | $75.1K | 2.7K | 51 |
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 2023, 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.
Block’s Current Market Status
- Currently trading with a volume of 5,295,109, the SQ’s price is down by -2.13%, now at $83.99.
- RSI readings suggest the stock is currently may be approaching overbought.
- Anticipated earnings release is in 98 days.
Professional Analyst Ratings for Block
Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $92.2.
Unusual Options Activity Detected: Smart Money on the Move
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* Consistent in their evaluation, an analyst from Needham keeps a Buy rating on Block with a target price of $90.
* An analyst from RBC Capital downgraded its action to Outperform with a price target of $88.
* Maintaining their stance, an analyst from Canaccord Genuity continues to hold a Buy rating for Block, targeting a price of $120.
* In a cautious move, an analyst from Piper Sandler downgraded its rating to Overweight, setting a price target of $83.
* An analyst from Keefe, Bruyette & Woods has decided to maintain their Market Perform rating on Block, which currently sits at a price target of $80.
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.
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