Block Unusual Options Activity
Portfolio Pulse from Benzinga Insights
A significant bearish stance has been taken on Block (NYSE:SQ) as indicated by unusual options activity. The overall sentiment of these big-money traders is 80% bearish and 20% bullish. The price of SQ is down -0.5% at $55.76. JP Morgan maintains an Overweight rating on Block with a price target of $75, while RBC Capital, Wedbush, and UBS have downgraded their actions with price targets of $90, $70, and $65 respectively.
September 08, 2023 | 1:46 pm
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Unusual options activity indicates a bearish stance on Block (NYSE:SQ). The price of SQ is down -0.5% at $55.76. Analysts have mixed ratings with JP Morgan maintaining an Overweight rating and others downgrading their actions.
The unusual options activity, which is heavily bearish, indicates that traders expect the price of SQ to decrease. This, combined with the current price decrease and the mixed analyst ratings, suggests a negative short-term impact on the stock.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100