Block Unusual Options Activity
Portfolio Pulse from Benzinga Insights
A significant bearish stance has been taken on Block (NYSE:SQ) as indicated by unusual options activity. The overall sentiment of these big-money traders is split between 46% bullish and 53% bearish. The whales have been targeting a price range from $47.5 to $115.0 for Block over the last 3 months. The price of SQ is up 3.39% at $66.57, with RSI indicators hinting at an overbought situation.
June 30, 2023 | 8:16 pm
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Unusual options activity indicates a significant bearish stance on Block (NYSE:SQ). The sentiment of big-money traders is split, with a slight lean towards bearish. The stock price is currently up, but RSI indicators suggest it may be overbought.
The unusual options activity, with a significant bearish stance, suggests that there may be a downward pressure on the stock price in the short term. The current rise in stock price, coupled with RSI indicators suggesting an overbought situation, further supports this prediction.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100