Behind the Scenes of Shopify's Latest Options Trends
Portfolio Pulse from Benzinga Insights
Shopify (NYSE:SHOP) has seen a mix of bullish and bearish options trading, with a slight lean towards bearish sentiment. Analysis of 21 trades shows 47% bullish and 52% bearish positions, with significant activity in calls over puts. The price target range for SHOP is between $25.0 and $100.0. Recent trading volume and RSI indicators suggest the stock may be approaching oversold territory. Analyst ratings in the last 30 days have set an average price target of $80.6, with varying opinions from major financial institutions.
March 06, 2024 | 8:15 pm
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NEUTRAL IMPACT
Shopify's options trading shows a bearish tilt despite bullish positions. Analysts' average price target is $80.6, with SHOP's current price at $73.91 and potential oversold status.
The bearish sentiment in options trading, combined with the current trading volume and RSI indicators, suggests a cautious outlook for SHOP. However, the average analyst price target and the range of opinions from financial institutions indicate potential for growth, leading to a neutral short-term impact score.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100