Whales with a lot of money to spend have taken a noticeably bearish stance on Shopify.

Looking at options history for Shopify SHOP we detected 42 trades.

If we consider the specifics of each trade, it is accurate to state that 26% 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 $691,916 and 33, calls, for a total amount of $5,852,437.

Predicted Price Range

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $40.0 to $120.0 for Shopify over the last 3 months.

Insights into Volume & Open Interest

Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for Shopify’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 Shopify’s whale trades within a strike price range from $40.0 to $120.0 in the last 30 days.

Shopify 30-Day Option Volume & Interest Snapshot

Noteworthy Options Activity:

About Shopify

Shopify offers an e-commerce platform primarily to small and medium-size businesses. The firm has two segments. The subscription solutions segment allows Shopify merchants to conduct e-commerce on a variety of platforms, including the company’s website, physical stores, pop-up stores, kiosks, social networks (Facebook), and Amazon. The merchant solutions segment offers add-on products for the platform that facilitate e-commerce and include Shopify Payments, Shopify Shipping, and Shopify Capital.

In light of the recent options history for Shopify, it’s now appropriate to focus on the company itself. We aim to explore its current performance.

Where Is Shopify Standing Right Now?

• With a trading volume of 5,624,338, the price of SHOP is down by -4.56%, reaching $109.84.
• Current RSI values indicate that the stock is may be overbought.
• Next earnings report is scheduled for 89 days from now.

What Analysts Are Saying About Shopify

Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $112.4.

Unusual Options Activity Detected: Smart Money on the Move

Benzinga Edge’s Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. Click here for access.
* Consistent in their evaluation, an analyst from Keybanc keeps a Overweight rating on Shopify with a target price of $130.
* Maintaining their stance, an analyst from Barclays continues to hold a Equal-Weight rating for Shopify, targeting a price of $93.
* Consistent in their evaluation, an analyst from Piper Sandler keeps a Neutral rating on Shopify with a target price of $94.
* Consistent in their evaluation, an analyst from Canaccord Genuity keeps a Buy rating on Shopify with a target price of $125.
* Consistent in their evaluation, an analyst from JMP Securities keeps a Market Outperform rating on Shopify with a target price of $120.

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 Shopify options trades with real-time alerts from Benzinga Pro.