Could Shopify Inc See a Reversal After Today’s Strong Options Activity?

 Could Shopify Inc See a Reversal After Today's Strong Options Activity?

In today’s session Shopify Inc (SHOP) recorded an unusually high (309) contracts volume of put trades. Someone, most probably a professional was a very active buyer of the November, 2016 put, expecting serious SHOP decrease. With 309 contracts traded and 1094 open interest for the Nov, 16 contract, it seems this is a quite bearish bet. The option with symbol: SHOP161118P00035000 closed last at: $0.6 or 7.7% down. About 1.43M shares traded hands or 127.26% up from the average. Shopify Inc (NYSE:SHOP) has risen 53.15% since April 1, 2016 and is uptrending. It has outperformed by 51.93% the S&P500.

Shopify Inc (NYSE:SHOP) Ratings Coverage

Out of 18 analysts covering Shopify (NYSE:SHOP), 13 rate it a “Buy”, 0 “Sell”, while 5 “Hold”. This means 72% are positive. $50 is the highest target while $25 is the lowest. The $37.40 average target is -9.77% below today’s ($41.45) stock price. Shopify has been the topic of 24 analyst reports since July 31, 2015 according to StockzIntelligence Inc. The firm has “Sector Perform” rating by RBC Capital Markets given on Friday, July 31. Bank of America initiated Shopify Inc (NYSE:SHOP) on Friday, August 12 with “Neutral” rating. Piper Jaffray initiated the stock with “Overweight” rating in Tuesday, February 16 report. Wedbush maintained the stock with “Outperform” rating in Thursday, February 18 report. Morgan Stanley upgraded the shares of SHOP in a report on Tuesday, January 19 to “Overweight” rating. The stock of Shopify Inc (NYSE:SHOP) earned “Neutral” rating by Dundee Securities on Monday, October 17. As per Monday, May 2, the company rating was maintained by RBC Capital Markets. The rating was initiated by Wedbush with “Outperform” on Thursday, January 21. Credit Suisse maintained the stock with “Outperform” rating in Thursday, August 18 report. Raymond James upgraded Shopify Inc (NYSE:SHOP) on Wednesday, November 18 to “Outperform” rating.

According to Zacks Investment Research, “Shopify Inc. offers cloud-based commerce platform. The Company’s platform provides merchants to design, set up and manage their stores through Web, mobile, social media, brick-and-mortar locations and pop-up shops. Shopify Inc. is based in Ottawa, Canada.”

Shopify Inc. is a provider of cloud-based, multi-channel commerce platform designed for small and medium-sized businesses. The company has a market cap of $3.56 billion. The Company’s software is used by merchants to run their business across all of their sales channels, including Web and mobile storefronts, social media storefronts, such as Facebook, Twitter and Pinterest, and physical retail locations. It currently has negative earnings. The Company’s platform provides merchants with a single view of their business and clients across all of their sales channels and enables them to manage products and inventory, process orders and payments, ship orders, build customer relationships and leverage analytics and reporting all from one integrated back office.

More notable recent Shopify Inc (NYSE:SHOP) news were published by: which released: “Shopify Ticker Change on TSX to Take Effect Tuesday, November 1” on October 28, 2016, also with their article: “Shopify Inc. CFO Goes Public — With a Little Help From His Friends” published on October 04, 2016, published: “Shopify Inc: SHOP Stock Could Go into Orbit Based on THIS” on October 20, 2016. More interesting news about Shopify Inc (NYSE:SHOP) were released by: and their article: “Shopify Inc.: The Pros and Cons” published on October 31, 2016 as well as‘s news article titled: “Shopify Inc. Cl A” with publication date: November 02, 2016.

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