Looking At Shopify's Recent Unusual Options Activity
Portfolio Pulse from Benzinga Insights
A significant bullish stance on Shopify (NYSE:SHOP) has been observed through unusual options activity. The sentiment among these big-money traders is split between 60% bullish and 40% bearish. The price target for Shopify over the last 3 months, based on Volume and Open Interest, ranges from $60.0 to $80.0. Currently, the price of SHOP is up 5.17% at $69.35. JMP Securities has downgraded its action to Market Outperform with a price target of $70.
July 13, 2023 | 2:08 pm
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Shopify has seen unusual options activity with a significant bullish stance. The price target based on Volume and Open Interest ranges from $60.0 to $80.0. The current price of SHOP is up 5.17% at $69.35.
The unusual options activity indicates that there is a significant interest in Shopify's stock, which could potentially drive the price up. The bullish sentiment among big-money traders further supports this. The price target based on Volume and Open Interest suggests that the stock price could increase in the short term. The current price increase of 5.17% also indicates a positive trend.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100