Shopify Unusual Options Activity For July 05
Portfolio Pulse from Benzinga Insights
A significant bullish stance on Shopify (NYSE:SHOP) has been observed through unusual options activity. The overall sentiment of these big-money traders is split between 56% bullish and 43% bearish. Whales have been targeting a price range from $30.0 to $85.0 for Shopify over the last 3 months. JMP Securities downgraded its action to Market Outperform with a price target of $70, while Jefferies maintained their Hold rating on Shopify, with a price target of $65.
July 05, 2023 | 8:46 pm
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Unusual options activity indicates a bullish stance on Shopify. The sentiment of big-money traders is split between 56% bullish and 43% bearish. Analysts have mixed opinions.
The unusual options activity indicates that big-money traders are taking a bullish stance on Shopify, which could potentially drive the stock price up in the short term. However, the sentiment is not entirely bullish, with 43% being bearish. This mixed sentiment, along with the mixed analyst ratings, adds some uncertainty to the potential impact on the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100