A whale with a lot of money to spend has taken a noticeably bearish stance on Block.
Looking at options history for Block (NYSE:SQ) we detected 35 strange trades.
If we consider the specifics of each trade, it is accurate to state that 45% of the investors opened trades with bullish expectations and 54% with bearish.
From the overall spotted trades, 20 are puts, for a total amount of $1,230,598 and 15, calls, for a total amount of $2,416,407.
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 $65.0 to $220.0 for Block over the last 3 months.
Volume & Open Interest Development
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 $65.0 to $220.0 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 | CALL | SWEEP | BULLISH | 04/14/22 | $100.00 | $1.2M | 633 | 814 |
| SQ | CALL | SWEEP | BULLISH | 04/14/22 | $110.00 | $435.7K | 969 | 1.0K |
| SQ | PUT | SWEEP | BEARISH | 04/14/22 | $105.00 | $398.8K | 10.8K | 51 |
| SQ | CALL | TRADE | BULLISH | 04/14/22 | $100.00 | $221.8K | 633 | 1.0K |
| SQ | CALL | SWEEP | BEARISH | 04/14/22 | $110.00 | $144.3K | 969 | 1.4K |
Where Is Block Standing Right Now?
- With a volume of 8,416,029, the price of SQ is down -4.91% at $106.42.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 56 days.
What The Experts Say On Block:
- DA Davidson has decided to maintain their Buy rating on Block, which currently sits at a price target of $175.
- Deutsche Bank has decided to maintain their Buy rating on Block, which currently sits at a price target of $180.
- B of A Securities upgraded its action to Buy with a price target of $185
- Needham has decided to maintain their Buy rating on Block, which currently sits at a price target of $175.
- BMO Capital upgraded its action to Outperform with a price target of $159
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.
If you are already an options trader or would like to get started, head on over to Benzinga Pro. Benzinga Pro gives you up-to-date news and analytics to empower your investing and trading strategy.
