Looking At Shopify's Recent Unusual Options Activity
Portfolio Pulse from Benzinga Insights
A significant bearish stance has been taken on Shopify (NYSE:SHOP) as evidenced by unusual options activity. The overall sentiment of these big-money traders is split between 31% bullish and 68% bearish. Out of the special options, 14 are puts, for a total amount of $936,507, and 2 are calls, for a total amount of $67,080. Whales have been targeting a price range from $40.0 to $60.0 for Shopify over the last 3 months. Several experts have downgraded their ratings on Shopify.
October 24, 2023 | 4:45 pm
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Shopify has seen unusual options activity with a significant bearish sentiment. Several experts have downgraded their ratings on the company.
The unusual options activity, particularly the bearish sentiment, indicates that big-money traders are expecting Shopify's stock price to decrease. This is further supported by the downgrades from several experts.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100