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 indicated by unusual options activity. The overall sentiment of these big-money traders is split between 36% bullish and 63% bearish. The whales have been targeting a price range from $30.0 to $80.0 for Shopify over the last 3 months. JMP Securities has downgraded its action to Market Outperform with a price target of $72.
October 02, 2023 | 4:16 pm
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Unusual options activity indicates a significant bearish stance on Shopify. The sentiment among big-money traders is more bearish than bullish. JMP Securities has downgraded its action to Market Outperform with a price target of $72.
The unusual options activity, with a significant bearish stance, indicates that large investors are expecting Shopify's stock price to decrease. This is further supported by JMP Securities' downgrade of the stock. These factors are likely to put downward pressure on Shopify's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100