Unpacking the Latest Options Trading Trends in Block
Portfolio Pulse from Benzinga Insights
Recent options trading trends indicate a bearish stance on Block (NYSE:SQ), with 80% of the big-money trades being puts. The trading volume and open interest suggest a price target between $62.5 and $85.0. Despite this, Block's stock is slightly up, with analysts from BTIG and Wedbush upgrading their ratings to Buy and Outperform, respectively, with price targets of $85 and $90. This mixed sentiment could lead to short-term volatility in SQ's stock price.
February 06, 2024 | 3:32 pm
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Block (SQ) sees bearish options trading but receives analyst upgrades, indicating mixed market sentiment and potential short-term volatility.
The bearish options trading suggests market participants are preparing for a potential decline in SQ's stock price. However, recent analyst upgrades and price targets above the current trading price indicate a belief in the company's potential upside. This conflicting information could lead to increased volatility in the short term as the market digests these differing perspectives.
CONFIDENCE 80
IMPORTANCE 90
RELEVANCE 100