Shopify Unusual Options Activity
Investors with a lot of money to spend have taken a bullish stance on Shopify (NASDAQ:SHOP).
And retail traders should know.
We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.
Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with SHOP, it often means somebody knows something is about to happen.
So how do we know what these investors just did?
Today, Benzinga's options scanner spotted 23 uncommon options trades for Shopify.
This isn't normal.
The overall sentiment of these big-money traders is split between 47% bullish and 47%, bearish.
Out of all of the special options we uncovered, 7 are puts, for a total amount of $261,625, and 16 are calls, for a total amount of $1,019,801.
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 $115.0 to $140.0 for Shopify over the last 3 months.
Analyzing Volume & Open Interest
Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Shopify's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Shopify's significant trades, within a strike price range of $115.0 to $140.0, over the past month.
Shopify 30-Day Option Volume & Interest Snapshot
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| SHOP | CALL | TRADE | BEARISH | 09/19/25 | $10.55 | $10.45 | $10.45 | $125.00 | $209.0K | 3.4K | 8 |
| SHOP | CALL | SWEEP | BULLISH | 08/15/25 | $2.64 | $2.63 | $2.64 | $140.00 | $125.7K | 1.4K | 375 |
| SHOP | CALL | TRADE | BEARISH | 01/15/27 | $36.1 | $35.25 | $35.43 | $120.00 | $88.5K | 1.0K | 25 |
| SHOP | PUT | TRADE | BULLISH | 06/18/26 | $16.25 | $15.8 | $15.8 | $115.00 | $85.3K | 200 | 54 |
| SHOP | CALL | TRADE | BULLISH | 01/15/27 | $27.95 | $27.8 | $27.95 | $135.00 | $69.8K | 229 | 26 |
About Shopify
Shopify offers an e-commerce platform primarily to small and medium-size businesses. The firm has two segments. The subscription solutions segment allows Shopify merchants to conduct e-commerce on a variety of platforms, including the company's website, physical stores, pop-up stores, kiosks, social networks (Facebook), and Amazon. The merchant solutions segment offers add-on products for the platform that facilitate e-commerce and include Shopify Payments, Shopify Shipping, and Shopify Capital.
Following our analysis of the options activities associated with Shopify, we pivot to a closer look at the company's own performance.
Current Position of Shopify
- With a volume of 2,576,499, the price of SHOP is down -2.0% at $124.31.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 8 days.
Expert Opinions on Shopify
A total of 5 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $125.0.
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* In a cautious move, an analyst from Needham downgraded its rating to Buy, setting a price target of $135.
* Maintaining their stance, an analyst from Keybanc continues to hold a Overweight rating for Shopify, targeting a price of $145.
* Consistent in their evaluation, an analyst from Baird keeps a Outperform rating on Shopify with a target price of $120.
* Maintaining their stance, an analyst from Scotiabank continues to hold a Sector Perform rating for Shopify, targeting a price of $115.
* Maintaining their stance, an analyst from Stifel continues to hold a Hold rating for Shopify, targeting a price of $110.
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Shopify options trades with real-time alerts from Benzinga Pro.
