Block Unusual Options Activity For August 21
Portfolio Pulse from Benzinga Insights
A significant amount of unusual options activity has been detected for Block (NYSE:SQ), with a majority of investors taking a bearish stance. The trades range from $50.0 to $130.0, with more puts than calls. The price of SQ is currently down -1.12% at $56.24, and RSI indicators suggest the stock may be oversold. Several financial institutions have downgraded their ratings on Block, but maintain price targets ranging from $85 to $100.
August 21, 2023 | 5:16 pm
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NEGATIVE IMPACT
Block (NYSE:SQ) has seen unusual options activity, with a bearish sentiment prevailing. The stock price is down, and it may be oversold according to RSI indicators. Despite downgrades, price targets from financial institutions range from $85 to $100.
The bearish sentiment in the unusual options activity, combined with the current downtrend in the stock price and the oversold indication from RSI, suggest a negative short-term impact. However, the maintained price targets post-downgrade indicate some level of confidence in the stock's potential.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100