Looking At Shopify's Recent Unusual Options Activity
Portfolio Pulse from Benzinga Insights
A whale investor has taken a bullish stance on Shopify (NYSE:SHOP), with 50% of investors opening trades with bullish expectations and 50% with bearish. The total amount for puts is $559,343 and for calls is $229,315. Whales have been targeting a price range from $33.0 to $240.0 for Shopify over the last 3 months. JMP Securities downgraded its action to Market Outperform with a price target of $72.
October 11, 2023 | 7:46 pm
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Shopify has seen unusual options activity with a bullish stance from a whale investor. JMP Securities has downgraded its action to Market Outperform with a price target of $72.
The bullish stance from a whale investor and the high volume of options trades indicate a positive sentiment towards Shopify. However, the downgrade by JMP Securities might temper this bullishness, but their price target of $72 still indicates an upward potential.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100