Benzinga | Dec 28, 2021 12:13PM EST

What Are Whales Doing With Shopify

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

Looking at options history for Shopify (NYSE:SHOP) we detected 32 strange trades.

If we consider the specifics of each trade, it is accurate to state that 40% of the investors opened trades with bullish expectations and 59% with bearish.

From the overall spotted trades, 13 are puts, for a total amount of $674,158 and 19, calls, for a total amount of $791,403.

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 $800.0 to $1560.0 for Shopify 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 Shopify'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 Shopify's whale activity within a strike price range from $800.0 to $1560.0 in the last 30 days.

Shopify 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 InterestSHOP PUT TRADE NEUTRAL 07/15/ $1360.00 $159.3K 46 10 22SHOP CALL SWEEP BEARISH 02/04/ $1450.00 $113.4K 72 52 22SHOP PUT TRADE BEARISH 01/28/ $1400.00 $105.0K 86 20 22SHOP PUT TRADE BULLISH 12/31/ $1500.00 $64.8K 281 6 21SHOP CALL TRADE NEUTRAL 01/07/ $1350.00 $59.6K 32 11 22

Where Is Shopify Standing Right Now?

* With a volume of 277,299, the price of SHOP is down -1.31% at $1382.26.

* RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.

* Next earnings are expected to be released in 50 days.

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.