Options Traders Blast Shopify Stock After Pricing Announcement

Shopify will increase the pricing for each of its plans by about 33%

Deputy Editor
Jan 25, 2023 at 2:42 PM
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Shopify Inc (NYSE:SHOP) is surging today, up 9.4% to trade at $46.73 at last check, after the company announced plans to increase its prices. Each plan's price is set to increase by roughly 33%, and will take effect for existing customers in April. 

Options traders are targeting Shopify stock after the news. So far, 184,000 calls and 105,000 puts have been exchanged, with overall volume running at triple the intraday average. The weekly 1/27 46-strike call is the most popular, followed by the 45-strike call in the same weekly series. 

SHOP surged on the charts yesterday before settling lower after it was rejected by the $50 level -- a trendline that acted as pressure last spring. Still, the equity is already up 35% since the start of 2023. 

SHOP Jan25

Options bulls have been targeting the security over the last 10 weeks. At the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), SHOP's 50-day call/put volume ratio of 2.42 ranks higher than 96% of readings from the past year. 


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