Smart Money Is Betting Big In SHOP Options
Portfolio Pulse from Benzinga Insights
Smart money investors have shown significant interest in Shopify (NYSE:SHOP) options, with a nearly even split between bullish and bearish sentiments. Benzinga's options scanner revealed 33 unusual options trades, indicating a potential price target range for SHOP between $50.0 and $135.0. The analysis of volume and open interest trends for these options suggests active trading within this price range. Despite the mixed sentiment, the current market position of Shopify shows a slight decline in stock price, with expert opinions varying from underweight to outperform ratings.
April 15, 2024 | 8:16 pm
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NEUTRAL IMPACT
Significant options trading activity on Shopify indicates a mixed sentiment among smart money investors, with a price target range from $50 to $135. Current stock performance shows a minor decline, and expert ratings vary widely.
The detailed options trading activity, including both puts and calls with significant total trade prices, suggests that smart money investors are actively betting on Shopify's future price movement, albeit with a nearly even split between bullish and bearish sentiments. This, combined with the current slight decline in Shopify's stock price and the mixed expert opinions, indicates a highly uncertain short-term outlook for the stock. The relevance of this news to Shopify is direct, given the focus on its options trading activity and stock performance.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100