Smart Money Is Betting Big In SHOP Options
Portfolio Pulse from Benzinga Insights
Smart money investors have shown a significant bullish interest in Shopify (NYSE:SHOP) options, with a notable volume of trades indicating a price target range of $65.0 to $120.0 over the next three months. The analysis of 26 unusual options trades revealed a 65% bullish and 34% bearish sentiment among big-money traders, with a total call option value of $1,372,842 compared to $118,371 in puts. The most significant options trades were bullish call sweeps with expiration dates ranging from 2024 to 2025 and strike prices around $95.00 and $65.00. Shopify's current stock price is up 2.42% at $90.0, with an anticipated earnings release in 4 days, suggesting potential short-term volatility.
February 09, 2024 | 3:46 pm
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Shopify has seen significant bullish interest from smart money investors, with a focus on options indicating a potential price target range of $65.0 to $120.0. The stock is currently up 2.42% at $90.0, with an earnings release anticipated in 4 days, suggesting potential for short-term volatility.
The significant bullish interest in Shopify's options by smart money investors, combined with the upcoming earnings release, suggests a positive outlook for the stock in the short term. However, the anticipation of the earnings report adds a layer of uncertainty, which could lead to volatility in the stock price.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100