A Closer Look at Block's Options Market Dynamics

Deep-pocketed investors have adopted a bearish approach towards Block XYZ, and it’s something market players shouldn’t ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in XYZ usually suggests something big is about to happen.

We gleaned this information from our observations today when Benzinga’s options scanner highlighted 13 extraordinary options activities for Block. This level of activity is out of the ordinary.

The general mood among these heavyweight investors is divided, with 30% leaning bullish and 69% bearish. Among these notable options, 7 are puts, totaling $525,725, and 6 are calls, amounting to $232,744.

Expected Price Movements

Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $42.5 to $115.0 for Block during the past quarter.

Volume & Open Interest Trends

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 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 trades within a strike price range from $42.5 to $115.0 in the last 30 days.

Block 30-Day Option Volume & Interest Snapshot

Significant Options Trades Detected:

About Block

Founded in 2009, Block provides payment services to merchants, along with related services. The company also launched Cash App, a person-to-person payment network. In 2024, Square’s payment volume was almost USD 250 million.

Where Is Block Standing Right Now?

• With a volume of 4,205,526, the price of XYZ is down -3.21% at $52.17.
• RSI indicators hint that the underlying stock may be approaching oversold.
• Next earnings are expected to be released in 10 days.

What The Experts Say On Block

Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $68.6.

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* An analyst from B of A Securities has decided to maintain their Buy rating on Block, which currently sits at a price target of $80.
* An analyst from Evercore ISI Group has revised its rating downward to In-Line, adjusting the price target to $52.
* Consistent in their evaluation, an analyst from Goldman Sachs keeps a Buy rating on Block with a target price of $74.
* Consistent in their evaluation, an analyst from Barclays keeps a Overweight rating on Block with a target price of $70.
* An analyst from Morgan Stanley has elevated its stance to Overweight, setting a new price target at $67.

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 want to stay updated on the latest options trades for Block, Benzinga Pro gives you real-time options trades alerts.