Call Trading Picks Up During SHOP Stock's Sprint to New Highs

Shopify stock has jumped to record highs, extending its huge 2019

Jun 19, 2019 at 2:29 PM
facebook X logo linkedin

Shopify Inc (NYSE:SHOP) is hosting its investor day today, and the event has sparked a roughly 5% move in the shares, which have hit an all-time high of $320.68. The e-commerce solutions provider unveiled new products, and its stock now sports a year-to-date lead of more than 131%. This price action has been met with accelerated call trading from options players.

The top position is the July 300 put, but signs are pointing to closing activity here, especially since the strike was home to heavy open interest coming into today. Meanwhile, new positions are opening at the June 315, 317.50, and 320 calls, with some potentially betting on more upside from SHOP shares through this Friday's close, when the contracts expire.

Outside the options pits, there's still a surprising amount of pessimism around the shares, given their amazing technical performance. While a majority of those in coverage have "buy" or "strong buy" recommendations, there are still eight "hold" or "sell" ratings on the books. What's more, the equity has soared past its consensus price target from this group, sitting down at $261.92. As such, the door is open for a round of price-target hikes and/or upgrades.




How to collect 1 dividend check every day for LIFE

Did you know you could collect 1 dividend check every day the market is open? You could also do it starting with just $605! For me, I'm collecting 70 dividend checks every quarter…which averages around 1.1 dividend checks every business day. There's no trading behind this... no penny stocks or high-risk investments. All you do is buy and hold and you're set. There's no set up required either. If you start buying the dividend stocks I show you today... you could collect 1 dividend per day starting as early as this week. Click here for all the details.