Financial giants have made a conspicuous bullish move on Block. Our analysis of options history for Block (NYSE:SQ) revealed 23 unusual trades.
Delving into the details, we found 47% of traders were bullish, while 43% showed bearish tendencies. Out of all the trades we spotted, 13 were puts, with a value of $776,916, and 10 were calls, valued at $585,340.
Expected Price Movements
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $35.0 to $130.0 for Block over the last 3 months.
Volume & Open Interest Trends
In today's trading context, the average open interest for options of Block stands at 3964.83, with a total volume reaching 3,924.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Block, situated within the strike price corridor from $35.0 to $130.0, throughout the last 30 days.
Block 30-Day Option Volume & Interest Snapshot
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| SQ | PUT | TRADE | BULLISH | 09/20/24 | $7.1 | $6.95 | $6.95 | $70.00 | $236.3K | 3.1K | 361 |
| SQ | CALL | SWEEP | BEARISH | 01/16/26 | $17.25 | $17.0 | $17.0 | $80.00 | $170.0K | 4.2K | 100 |
| SQ | CALL | SWEEP | BEARISH | 01/17/25 | $3.15 | $3.05 | $3.05 | $105.00 | $66.5K | 2.6K | 218 |
| SQ | PUT | TRADE | BULLISH | 06/21/24 | $6.5 | $6.45 | $6.45 | $75.00 | $64.5K | 3.4K | 12 |
| SQ | CALL | SWEEP | BEARISH | 01/17/25 | $8.95 | $8.9 | $8.9 | $80.00 | $61.4K | 3.6K | 210 |
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.
Current Position of Block
- Currently trading with a volume of 5,207,013, the SQ's price is up by 0.97%, now at $72.0.
- RSI readings suggest the stock is currently is currently neutral between overbought and oversold.
- Anticipated earnings release is in 80 days.
What Analysts Are Saying About Block
A total of 5 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $98.8.
- An analyst from Needham has decided to maintain their Buy rating on Block, which currently sits at a price target of $105.
- Consistent in their evaluation, an analyst from Baird keeps a Outperform rating on Block with a target price of $98.
- Reflecting concerns, an analyst from Benchmark lowers its rating to Buy with a new price target of $99.
- An analyst from TD Cowen has decided to maintain their Buy rating on Block, which currently sits at a price target of $92.
- Consistent in their evaluation, an analyst from Baird keeps a Outperform rating on Block with a target price of $100.
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.