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 34 trades.
If we consider the specifics of each trade, it is accurate to state that 44% of the investors opened trades with bullish expectations and 55% with bearish.
From the overall spotted trades, 9 are puts, for a total amount of $696,134 and 25, calls, for a total amount of $1,186,960.
Predicted Price Range
After evaluating the trading volumes and Open Interest, it’s evident that the major market movers are focusing on a price band between $30.0 and $105.0 for Block, spanning the last three months.
Volume & Open Interest Trends
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 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 trades within a strike price range from $30.0 to $105.0 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 | PUT | TRADE | BEARISH | 01/17/25 | $47.50 | $218.4K | 1.4K | 800 |
| SQ | PUT | TRADE | BULLISH | 06/21/24 | $72.50 | $168.9K | 4.4K | 0 |
| SQ | CALL | TRADE | BULLISH | 02/16/24 | $60.00 | $99.7K | 1.6K | 14 |
| SQ | CALL | SWEEP | BULLISH | 02/16/24 | $80.00 | $90.9K | 6.0K | 107 |
| SQ | CALL | SWEEP | BEARISH | 12/29/23 | $77.00 | $84.0K | 2.4K | 1.0K |
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.
Present Market Standing of Block
- Currently trading with a volume of 3,714,028, the SQ’s price is down by -0.51%, now at $77.78.
- RSI readings suggest the stock is currently may be overbought.
- Anticipated earnings release is in 57 days.
What Analysts Are Saying About Block
Over the past month, 3 industry analysts have shared their insights on this stock, proposing an average target price of $94.33333333333333.
- Consistent in their evaluation, an analyst from Mizuho keeps a Buy rating on Block with a target price of $99.
- Maintaining their stance, an analyst from Barclays continues to hold a Overweight rating for Block, targeting a price of $100.
- An analyst from BMO Capital has revised its rating downward to Outperform, adjusting the price target to $84.
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.
