A whale with a lot of money to spend has taken a noticeably bearish stance on Shopify.
Looking at options history for Shopify (NYSE:SHOP) we detected 16 strange trades.
If we consider the specifics of each trade, it is accurate to state that 31% of the investors opened trades with bullish expectations and 68% with bearish.
From the overall spotted trades, 10 are puts, for a total amount of $2,158,756 and 6, calls, for a total amount of $371,153.
What's The Price Target?
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $270.0 to $1400.0 for Shopify over the last 3 months.
Volume & Open Interest Development
In terms of liquidity and interest, the mean open interest for Shopify options trades today is 244.38 with a total volume of 319.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Shopify's big money trades within a strike price range of $270.0 to $1400.0 over the last 30 days.
Shopify 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 |
|---|---|---|---|---|---|---|---|---|
| SHOP | PUT | SWEEP | BEARISH | 05/20/22 | $740.00 | $1.3M | 164 | 0 |
| SHOP | PUT | TRADE | BEARISH | 06/17/22 | $1300.00 | $417.6K | 177 | 6 |
| SHOP | CALL | TRADE | BEARISH | 01/20/23 | $270.00 | $175.5K | 1 | 5 |
| SHOP | PUT | TRADE | BEARISH | 06/17/22 | $1400.00 | $79.2K | 758 | 0 |
| SHOP | PUT | TRADE | BEARISH | 04/14/22 | $895.00 | $58.8K | 5 | 0 |
Where Is Shopify Standing Right Now?
- With a volume of 347,075, the price of SHOP is down -0.81% at $599.86.
- RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
- Next earnings are expected to be released in 13 days.
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.
