Whales with a lot of money to spend have taken a noticeably bullish stance on Snap.
Looking at options history for Snap SNAP we detected 8 trades.
If we consider the specifics of each trade, it is accurate to state that 75% of the investors opened trades with bullish expectations and 25% with bearish.
From the overall spotted trades, 3 are puts, for a total amount of $205,258 and 5, calls, for a total amount of $137,239.
Expected Price Movements
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $10.0 to $22.0 for Snap during the past quarter.
Insights into Volume & Open Interest
In today's trading context, the average open interest for options of Snap stands at 2593.38, with a total volume reaching 648.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Snap, situated within the strike price corridor from $10.0 to $22.0, throughout the last 30 days.
Snap Call and Put Volume: 30-Day Overview
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| SNAP | PUT | SWEEP | BEARISH | 01/17/25 | $6.55 | $6.5 | $6.55 | $22.00 | $122.4K | 1.3K | 0 |
| SNAP | PUT | SWEEP | BULLISH | 09/20/24 | $2.75 | $2.74 | $2.74 | $18.00 | $43.2K | 451 | 0 |
| SNAP | PUT | SWEEP | BULLISH | 05/16/25 | $0.89 | $0.79 | $0.79 | $10.00 | $39.5K | 1.5K | 0 |
| SNAP | CALL | TRADE | BULLISH | 07/19/24 | $1.7 | $1.69 | $1.7 | $15.00 | $32.3K | 8.0K | 9 |
| SNAP | CALL | SWEEP | BULLISH | 09/20/24 | $1.54 | $1.51 | $1.54 | $18.00 | $27.5K | 1.9K | 9 |
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.
Where Is Snap Standing Right Now?
- With a trading volume of 4,639,239, the price of SNAP is down by -0.06%, reaching $16.7.
- Current RSI values indicate that the stock is may be approaching overbought.
- Next earnings report is scheduled for 27 days from now.
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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Date of Trade | ticker | Put/Call | Strike Price | DTE | Sentiment |
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