Investors with a lot of money to spend have taken a bullish stance on Block (NYSE:SQ).
And retail traders should know.
We noticed this today when the positions showed up on publicly available options history that we track here at Benzinga.
Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with SQ, it often means somebody knows something is about to happen.
Today, Benzinga's options scanner spotted 8 options trades for Block.
This isn't normal.
The overall sentiment of these big-money traders is split between 50% bullish and 25%, bearish.
Out of all of the options we uncovered, there was 1 put, for a total amount of $42,900, and 7, calls, for a total amount of $240,743.
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 $67.5 and $130.0 for Block, spanning the last three months.
Volume & Open Interest Trends
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 $67.5 to $130.0 over the preceding 30 days.
Block 30-Day Option Volume & Interest Snapshot
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| SQ | CALL | TRADE | BULLISH | 01/16/26 | $8.8 | $8.05 | $8.77 | $130.00 | $51.7K | 265 | 241 |
| SQ | CALL | TRADE | BULLISH | 12/20/24 | $6.6 | $6.4 | $6.55 | $85.00 | $44.5K | 8.0K | 77 |
| SQ | PUT | TRADE | NEUTRAL | 12/27/24 | $4.4 | $4.15 | $4.29 | $90.00 | $42.9K | 169 | 101 |
| SQ | CALL | TRADE | BEARISH | 12/20/24 | $3.55 | $3.5 | $3.5 | $90.00 | $35.0K | 4.7K | 441 |
| SQ | CALL | SWEEP | BULLISH | 12/20/24 | $1.1 | $1.04 | $1.01 | $100.00 | $28.5K | 14.2K | 857 |
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.
Present Market Standing of Block
- Trading volume stands at 2,955,823, with SQ's price down by -0.79%, positioned at $88.31.
- RSI indicators show the stock to be may be approaching overbought.
- Earnings announcement expected in 85 days.
Expert Opinions on Block
In the last month, 5 experts released ratings on this stock with an average target price of $92.2.
Turn $1000 into $1270 in just 20 days?
20-year pro options trader reveals his one-line chart technique that shows when to buy and sell. Copy his trades, which have had averaged a 27% profit every 20 days. Click here for access. * Consistent in their evaluation, an analyst from Keefe, Bruyette & Woods keeps a Market Perform rating on Block with a target price of $80. * In a cautious move, an analyst from Exane BNP Paribas downgraded its rating to Neutral, setting 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. * An analyst from Needham persists with their Buy rating on Block, maintaining a target price of $90. * In a cautious move, an analyst from Piper Sandler downgraded its rating to Overweight, setting a price target of $83.
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.
