High-rolling investors have positioned themselves bearish on Snap SNAP, and it's important for retail traders to take note. \This activity came to our attention today through Benzinga's tracking of publicly available options data. The identities of these investors are uncertain, but such a significant move in SNAP often signals that someone has privileged information.
Today, Benzinga's options scanner spotted 10 options trades for Snap. This is not a typical pattern.
The sentiment among these major traders is split, with 40% bullish and 60% bearish. Among all the options we identified, there was one put, amounting to $44,165, and 9 calls, totaling $389,463.
Expected Price Movements
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $12.0 to $20.0 for Snap over the recent three months.
Analyzing Volume & Open Interest
Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Snap's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Snap's substantial trades, within a strike price spectrum from $12.0 to $20.0 over the preceding 30 days.
Snap 30-Day Option Volume & Interest Snapshot
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| SNAP | CALL | SWEEP | BEARISH | 03/21/25 | $20.00 | $79.6K | 155 | 246 |
| SNAP | CALL | SWEEP | BULLISH | 01/17/25 | $12.00 | $64.8K | 4.0K | 99 |
| SNAP | CALL | TRADE | BULLISH | 02/16/24 | $18.00 | $60.2K | 10.6K | 1.0K |
| SNAP | PUT | SWEEP | BEARISH | 04/19/24 | $19.00 | $44.1K | 630 | 121 |
| SNAP | CALL | SWEEP | BEARISH | 05/16/25 | $15.00 | $39.0K | 2.0K | 89 |
About Snap
Snap, which refers to itself as a camera company, has one of the most popular social networking apps, Snapchat, in developed regions such as North America and Europe. Snap generates nearly all its revenue from advertising with 70% coming from North America. The firm is headquartered in Venice, California.
After a thorough review of the options trading surrounding Snap, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Where Is Snap Standing Right Now?
- With a volume of 5,201,193, the price of SNAP is up 0.06% at $16.62.
- RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
- Next earnings are expected to be released in 14 days.
What Analysts Are Saying About Snap
A total of 3 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $17.666666666666668.
- In a cautious move, an analyst from BMO Capital downgraded its rating to Outperform, setting a price target of $22.
- Consistent in their evaluation, an analyst from Stifel keeps a Hold rating on Snap with a target price of $14.
- Consistent in their evaluation, an analyst from Piper Sandler keeps a Neutral rating on Snap with a target price of $17.
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.
If you want to stay updated on the latest options trades for Snap, Benzinga Pro gives you real-time options trades alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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