Shopify Unusual Options Activity For August 29
Portfolio Pulse from Benzinga Insights
A significant amount of unusual options activity has been observed for Shopify (NYSE:SHOP), indicating a bullish stance by a large investor or institution. The sentiment among these big-money traders is split between 54% bullish and 45% bearish. The price target for Shopify over the last 3 months has been between $48.0 to $240.0. The current price of SHOP is up 4.03% at $58.58. Several financial institutions have maintained or downgraded their ratings on Shopify, with price targets ranging from $62 to $80.
August 29, 2023 | 3:46 pm
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Unusual options activity has been observed for Shopify, indicating a bullish stance by a large investor. The price target for Shopify over the last 3 months has been between $48.0 to $240.0. The current price of SHOP is up 4.03% at $58.58.
The unusual options activity indicates that a large investor or institution is taking a bullish stance on Shopify, which could potentially drive the stock price up in the short term. The price target range also suggests a potential upside. The current price increase and the ratings from financial institutions further support this bullish outlook.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100