Whales with a lot of money to spend have taken a noticeably bullish stance on Shopify.
Looking at options history for Shopify (NYSE:SHOP) we detected 10 trades.
If we consider the specifics of each trade, it is accurate to state that 60% of the investors opened trades with bullish expectations and 30% with bearish.
From the overall spotted trades, 4 are puts, for a total amount of $183,700 and 6, calls, for a total amount of $190,315.
Predicted Price Range
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $55.0 to $80.0 for Shopify over the last 3 months.
Analyzing Volume & Open Interest
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 Shopify'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 Shopify's whale trades within a strike price range from $55.0 to $80.0 in the last 30 days.
Shopify Option Volume And Open Interest Over Last 30 Days
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| SHOP | PUT | TRADE | BULLISH | 01/16/26 | $9.3 | $8.2 | $8.2 | $60.00 | $68.8K | 3.0K | 85 |
| SHOP | PUT | SWEEP | NEUTRAL | 01/17/25 | $8.4 | $8.2 | $8.3 | $75.00 | $44.8K | 2.9K | 182 |
| SHOP | PUT | TRADE | BULLISH | 12/20/24 | $8.0 | $7.9 | $7.88 | $75.00 | $39.4K | 1.3K | 50 |
| SHOP | CALL | TRADE | BULLISH | 10/11/24 | $3.85 | $3.75 | $3.82 | $72.00 | $38.2K | 42 | 124 |
| SHOP | CALL | SWEEP | BEARISH | 10/18/24 | $2.51 | $2.5 | $2.5 | $75.00 | $37.6K | 8.0K | 458 |
About Shopify
Shopify offers an e-commerce platform primarily to small and medium-size businesses. The firm has two segments. The subscription solutions segment allows Shopify merchants to conduct e-commerce on a variety of platforms, including the company's website, physical stores, pop-up stores, kiosks, social networks (Facebook), and Amazon. The merchant solutions segment offers add-on products for the platform that facilitate e-commerce and include Shopify Payments, Shopify Shipping, and Shopify Capital.
In light of the recent options history for Shopify, it's now appropriate to focus on the company itself. We aim to explore its current performance.
Current Position of Shopify
- Currently trading with a volume of 2,954,204, the SHOP's price is up by 1.54%, now at $73.56.
- RSI readings suggest the stock is currently is currently neutral between overbought and oversold.
- Anticipated earnings release is in 45 days.
Professional Analyst Ratings for Shopify
Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $76.6.
- An analyst from Cantor Fitzgerald has revised its rating downward to Neutral, adjusting the price target to $70.
- Consistent in their evaluation, an analyst from JP Morgan keeps a Overweight rating on Shopify with a target price of $76.
- An analyst from Wells Fargo persists with their Overweight rating on Shopify, maintaining a target price of $90.
- Reflecting concerns, an analyst from JMP Securities lowers its rating to Market Outperform with a new price target of $80.
- An analyst from Piper Sandler persists with their Neutral rating on Shopify, maintaining a target price of $67.
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.
