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Benzinga
Benzinga
Business
Benzinga Insights

This Is What Whales Are Betting On Shopify

A whale with a lot of money to spend has taken a noticeably bullish stance on Shopify.

Looking at options history for Shopify (NYSE:SHOP) we detected 10 strange trades.

If we consider the specifics of each trade, it is accurate to state that 50% of the investors opened trades with bullish expectations and 50% with bearish.

From the overall spotted trades, 6 are puts, for a total amount of $207,151 and 4, calls, for a total amount of $215,666.

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 $22.5 to $40.0 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 1746.7 with a total volume of 786.00.

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 $22.5 to $40.0 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 CALL SWEEP BULLISH 12/16/22 $28.00 $96.8K 548 311
SHOP PUT SWEEP BEARISH 04/21/23 $30.00 $52.0K 1.5K 69
SHOP CALL SWEEP BEARISH 09/15/23 $30.00 $46.6K 120 70
SHOP CALL SWEEP BULLISH 11/18/22 $26.50 $37.3K 135 135
SHOP CALL SWEEP BULLISH 09/15/23 $25.00 $34.8K 16 70

Where Is Shopify Standing Right Now?

  • With a volume of 4,367,876, the price of SHOP is down -2.98% at $26.4.
  • RSI indicators hint that the underlying stock may be approaching oversold.
  • Next earnings are expected to be released in 17 days.

What The Experts Say On Shopify:

  • Morgan Stanley has decided to maintain their Equal-Weight rating on Shopify, which currently sits at a price target of $40.

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 want to stay updated on the latest options trades for Shopify, Benzinga Pro gives you real-time options trades alerts.

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