Financial giants have made a conspicuous bullish move on Block. Our analysis of options history for Block (NYSE:SQ) revealed 16 unusual trades.
Delving into the details, we found 62% of traders were bullish, while 37% showed bearish tendencies. Out of all the trades we spotted, 6 were puts, with a value of $294,142, and 10 were calls, valued at $533,520.
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 $30.0 to $80.0 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 1541.06, with a total volume reaching 2,962.00. 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 $30.0 to $80.0, throughout the last 30 days.
Block 30-Day Option Volume & Interest Snapshot
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| SQ | CALL | TRADE | BULLISH | 12/18/26 | $38.85 | $37.3 | $38.33 | $32.50 | $95.8K | 36 | 0 |
| SQ | CALL | SWEEP | BULLISH | 12/20/24 | $9.75 | $9.65 | $9.75 | $60.00 | $87.7K | 601 | 113 |
| SQ | CALL | TRADE | BULLISH | 01/17/25 | $36.4 | $34.95 | $36.4 | $30.00 | $80.0K | 363 | 0 |
| SQ | PUT | SWEEP | BEARISH | 01/17/25 | $3.5 | $3.45 | $3.5 | $57.50 | $65.4K | 2.4K | 397 |
| SQ | PUT | TRADE | BEARISH | 10/04/24 | $1.98 | $1.73 | $1.9 | $66.00 | $64.4K | 1.8K | 878 |
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.
After a thorough review of the options trading surrounding Block, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Where Is Block Standing Right Now?
- Trading volume stands at 2,008,015, with SQ's price down by -3.29%, positioned at $64.92.
- RSI indicators show the stock to be is currently neutral between overbought and oversold.
- Earnings announcement expected in 30 days.
Turn $1000 into $1270 in just 20 days?
20-year pro options trader reveals his one-line chart technique that shows when to buy and sell. Copy his trades, which have had averaged a 27% profit every 20 days. Click here for access.
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.
