Monday, December 30, 2024

What The Options Market Tells Us About Shopify - Shopify (NYSE:SHOP)

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If we consider the specifics of each trade, it is accurate to state that 28% of the investors opened trades with bullish expectations and 42% with bearish.

From the overall spotted trades, 5 are puts, for a total amount of $179,950 and 9, calls, for a total amount of $707,111.

After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $55.0 and $120.0 for Shopify, spanning the last three months.

In today's trading context, the average open interest for options of Shopify stands at 2545.89, with a total volume reaching 3,152.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Shopify, situated within the strike price corridor from $55.0 to $120.0, throughout the last 30 days.

Symbol PUT/CALL Trade Type Sentiment Exp. Date Ask Bid Price Strike Price Total Trade Price Open Interest Volume

Following our analysis of the options activities associated with Shopify, we pivot to a closer look at the company's own performance.

Over the past month, 3 industry analysts have shared their insights on this stock, proposing an average target price of $126.66666666666667.

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.

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