Benzinga | Dec 21, 2021 11:50AM EST

Looking At Block's Recent Whale Trades

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 13 strange trades.

If we consider the specifics of each trade, it is accurate to state that 46% of the investors opened trades with bullish expectations and 53% with bearish.

From the overall spotted trades, 10 are puts, for a total amount of $399,111 and 3, calls, for a total amount of $115,790.

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 $145.0 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 $145.0 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 PUT TRADE BULLISH 06/17/ $150.00 $82.5K 11.4K 50 22SQ PUT SWEEP BULLISH 01/21/ $145.00 $55.3K 2.9K 147 22SQ CALL TRADE BULLISH 01/20/ $160.00 $50.6K 225 43 23SQ PUT TRADE BEARISH 12/31/ $190.00 $40.3K 429 41 21SQ PUT TRADE BEARISH 03/18/ $210.00 $39.0K 3.7K 45 22

Where Is Block Standing Right Now?

* With a volume of 3,206,563, the price of SQ is up 3.94% at $164.53.

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

* Next earnings are expected to be released in 63 days.

What The Experts Say On Block:

* B of A Securities upgraded its action to Neutral with a price target of $221

* Wedbush has decided to maintain their Neutral rating on Block, which currently sits at a price target of $190.

* Mizuho has decided to maintain their Buy rating on Block, which currently sits at a price target of $285.

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.