Shopify's Options Frenzy: What You Need to Know
Portfolio Pulse from Benzinga Insights
Deep-pocketed investors are showing significant interest in Shopify (NYSE:SHOP) options, with a notable increase in both call and put activities. The sentiment is mixed but leans slightly bullish. The price range of interest is between $57.0 and $120.0. Shopify's stock is currently up 2.2% at $69.81, with RSI indicators suggesting it may be approaching overbought territory.
August 13, 2024 | 3:31 pm
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Significant options activity in Shopify (NYSE:SHOP) suggests potential price movements. The sentiment is mixed but leans slightly bullish. Current stock price is $69.81, up 2.2%.
The substantial increase in options activity, particularly with a higher number of calls compared to puts, indicates a bullish sentiment among investors. This is likely to drive the stock price up in the short term. However, the mixed sentiment and the RSI indicating overbought conditions suggest caution.
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