Block Options Point To Further Downside Ahead - Block (NYSE:SQ)

On CNBC’s “Options Action,” Michael Khouw of Optimize Advisors said that Block Inc. SQ traded at 1.8 times the average daily put volume on Thursday.

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There was a seller of 7,000 of the November 57.5 puts at an average price of $8 per contract, Khouw mentioned. The trader bought 7,000 of the November 50 puts at an average price of $4.50 per contract, he added. The trader expects Block to decline by 19% by November expiration, Khouw further mentioned.

SQ Price Action: The stocks of Block declined by 5.92% to settle at $55.93 on Thursday.

Photo courtesy of Block. 

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