Benzinga | Nov 19, 2021 12:02PM EST

Square Whale Trades Spotted

A whale with a lot of money to spend has taken a noticeably bearish stance on Square.

Looking at options history for Square (NYSE:SQ) we detected 20 strange trades.

If we consider the specifics of each trade, it is accurate to state that 20.0% of the investors opened trades with bullish expectations and 80.0% with bearish.

From the overall spotted trades, 14 are puts, for a total amount of $794,254.00 and 6, calls, for a total amount of $346,445.00.

What's The Price Target?

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $200.0 to $270.0 for Square over the last 3 months.

Volume & Open Interest Development

Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for Square's options for a given strike price. Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Square's whale trades within a strike price range from $200.0 to $270.0 in the last 30 days.

Square Option Volume And Open Interest Over Last 30 Days

Biggest Options Spotted:

Symbol PUT/ Trade Sentiment Exp. Strike Total Trade Open Volume CALL Type Date Price Price InterestSQ PUT SWEEP BEARISH 11/19/ $230.00 $201.5K 6.0K 1.0K 21SQ CALL TRADE BULLISH 12/17/ $230.00 $85.5K 5.5K 394 21SQ CALL SWEEP BEARISH 12/17/ $230.00 $84.0K 5.5K 294 21SQ PUT SWEEP BEARISH 11/19/ $230.00 $76.6K 6.0K 1.5K 21SQ CALL SWEEP BEARISH 03/18/ $270.00 $66.2K 2.2K 487 22

Where Is Square Standing Right Now?

* With a volume of 3,217,726.00, the price of SQ is down -0.17% at $229.96.

* RSI indicators hint that the underlying stock may be approaching oversold.

* Next earnings are expected to be released in 95 days.

What The Experts Say On Square:

* Tigress Financial has decided to maintain their Buy rating on Square, which currently sits at a price target of $310.0.

* UBS downgraded its action to Buy with a price target of $322.0

* SMBC Nikko downgraded its action to Outperform with a price target of $300.0

* BMO Capital has decided to maintain their Market Perform rating on Square, which currently sits at a price target of $253.0.

* Needham has decided to maintain their Buy rating on Square, which currently sits at a price target of $315.0.

Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.

If you are already an options trader or would like to get started, head on over to Benzinga Pro. Benzinga Pro gives you up-to-date news and analytics to empower your investing and trading strategy.