Looking At Shopify's Recent Unusual Options Activity
Portfolio Pulse from Benzinga Insights
A significant amount of unusual options activity has been observed for Shopify (NYSE:SHOP), with a majority of investors taking a bearish stance. Of the 12 strange trades detected, 75% were bearish and 25% bullish. The total amount for the 8 puts was $392,313 and for the 4 calls was $238,815. Whales have been targeting a price range from $60.0 to $240.0 for Shopify over the last 3 months. The price of SHOP is currently down -0.9% at $66.11. Analysts have mixed opinions, with some upgrading their action to Buy and others downgrading to Outperform or maintaining a Hold rating.
September 05, 2023 | 2:02 pm
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Shopify has seen unusual options activity, with a majority of investors taking a bearish stance. The current price is down -0.9% at $66.11. Analysts have mixed opinions on the stock.
The unusual options activity, with a majority being bearish, indicates that investors are expecting the price of Shopify to decrease. This, combined with the current price decrease and mixed analyst opinions, could lead to short-term downward pressure on the stock.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100