Shopify Unusual Options Activity
Portfolio Pulse from Benzinga Insights
A significant bearish stance has been taken on Shopify (NYSE:SHOP) by a large investor, as observed in the unusual options activity. The sentiment among these big-money traders is split between 33% bullish and 66% bearish. The price range targeted by these investors for Shopify over the last 3 months is from $40.0 to $210.0. The stock is currently up 2.43% at $64.54, with RSI indicators suggesting it may be approaching overbought. Analysts have mixed opinions, with Roth MKM and Canaccord Genuity upgrading their actions to Buy, while Wedbush downgraded its action to Outperform.
September 11, 2023 | 7:30 pm
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Shopify has seen unusual options activity with a significant bearish stance taken by a large investor. The stock is currently up 2.43% at $64.54, with RSI indicators suggesting it may be approaching overbought. Analysts have mixed opinions.
The unusual options activity indicates that a large investor is taking a bearish stance on Shopify, which could potentially drive the stock price down in the short term. The stock is currently up, but RSI indicators suggest it may be approaching overbought, which could lead to a price correction. Analysts have mixed opinions, adding to the uncertainty.
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