Deep-pocketed investors have adopted a bearish approach towards Snap SNAP, and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in SNAP usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 52 extraordinary options activities for Snap. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 26% leaning bullish and 69% bearish. Among these notable options, 12 are puts, totaling $532,279, and 40 are calls, amounting to $3,757,722.
Projected Price Targets
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $8.5 to $30.0 for Snap over the recent three months.
Volume & Open Interest Development
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 $8.5 to $30.0 over the preceding 30 days.
Snap Option Volume And Open Interest Over Last 30 Days
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| SNAP | CALL | SWEEP | BEARISH | 01/16/26 | $2.29 | $1.71 | $1.7 | $22.00 | $298.5K | 14.8K | 2.5K |
| SNAP | CALL | TRADE | NEUTRAL | 01/16/26 | $2.2 | $1.98 | $2.1 | $20.00 | $210.0K | 7.2K | 1.0K |
| SNAP | CALL | TRADE | BEARISH | 01/16/26 | $2.19 | $2.07 | $2.1 | $20.00 | $210.0K | 7.2K | 0 |
| SNAP | CALL | SWEEP | BEARISH | 01/16/26 | $2.3 | $2.06 | $2.06 | $20.00 | $205.8K | 7.2K | 3.0K |
| SNAP | CALL | SWEEP | BEARISH | 01/17/25 | $1.6 | $1.57 | $1.57 | $15.00 | $157.0K | 37.6K | 8.0K |
About Snap
Snap owns one of the most popular social networking apps, Snapchat, claiming more than 400 million daily active users as of the end of 2023. Snap generates nearly all its revenue from advertising. While only about one quarter of users are in North America, the region accounts for about 65% of sales.
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.
Current Position of Snap
- With a volume of 28,078,307, the price of SNAP is down -2.46% at $11.11.
- RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
- Next earnings are expected to be released in 1 days.
Expert Opinions on Snap
In the last month, 3 experts released ratings on this stock with an average target price of $13.0.
- Reflecting concerns, an analyst from Roth MKM lowers its rating to Neutral with a new price target of $14.
- An analyst from UBS persists with their Neutral rating on Snap, maintaining a target price of $13.
- Maintaining their stance, an analyst from Stifel continues to hold a Hold rating for Snap, targeting a price of $12.
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Snap with Benzinga Pro for real-time alerts.
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