Benzinga | Dec 13, 2021 01:24PM EST

Block Whale Trades Spotted

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

Looking at options history for Block (NYSE:SQ) we detected 21 strange trades.

If we consider the specifics of each trade, it is accurate to state that 42.86% of the investors opened trades with bullish expectations and 57.14% with bearish.

From the overall spotted trades, 13 are puts, for a total amount of $656,729.00 and 8, calls, for a total amount of $533,575.00.

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 $150.0 to $300.0 for Block over the last 3 months.

Volume & Open Interest Development

Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.

This data can help you track the liquidity and interest for Block'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 Block's whale activity within a strike price range from $150.0 to $300.0 in the last 30 days.

Block 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 CALL TRADE NEUTRAL 01/21/ $155.00 $140.1K 265 101 22SQ PUT TRADE NEUTRAL 01/20/ $190.00 $120.6K 10.1K 558 23SQ CALL TRADE BULLISH 01/07/ $185.00 $120.0K 496 202 22SQ CALL TRADE NEUTRAL 01/21/ $160.00 $117.5K 326 209 22SQ PUT TRADE NEUTRAL 01/20/ $190.00 $86.8K 10.1K 327 23

Where Is Block Standing Right Now?

* With a volume of 5,970,041.00, the price of SQ is down -3.58% at $174.83.

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

* Next earnings are expected to be released in 71 days.

What The Experts Say On Block:

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

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

* B of A Securities upgraded its action to Neutral with a price target of $221.0

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.