Whales with a lot of money to spend have taken a noticeably bullish stance on Reddit.
Looking at options history for Reddit RDDT we detected 19 trades.
If we consider the specifics of each trade, it is accurate to state that 36% of the investors opened trades with bullish expectations and 36% with bearish.
From the overall spotted trades, 4 are puts, for a total amount of $247,990 and 15, calls, for a total amount of $787,120.
Projected Price Targets
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $55.0 to $100.0 for Reddit over the recent three months.
Analyzing Volume & Open Interest
Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for Reddit's options for a given strike price. Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Reddit's whale trades within a strike price range from $55.0 to $100.0 in the last 30 days.
Reddit 30-Day Option Volume & Interest Snapshot
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| RDDT | CALL | SWEEP | BULLISH | 08/16/24 | $7.1 | $6.7 | $7.1 | $75.00 | $142.0K | 1.9K | 200 |
| RDDT | CALL | TRADE | BEARISH | 08/16/24 | $3.2 | $2.88 | $3.0 | $100.00 | $96.3K | 425 | 362 |
| RDDT | PUT | TRADE | BEARISH | 10/18/24 | $16.1 | $14.45 | $15.78 | $80.00 | $86.7K | 12 | 51 |
| RDDT | CALL | TRADE | NEUTRAL | 08/09/24 | $9.0 | $7.8 | $8.5 | $70.00 | $85.0K | 121 | 1 |
| RDDT | PUT | TRADE | BULLISH | 10/18/24 | $16.25 | $15.6 | $15.79 | $80.00 | $78.9K | 12 | 0 |
About Reddit
Reddit Inc is engaged in providing internet content. The company provides online services that include gaming, sports, business, crypto, television and others.
In light of the recent options history for Reddit, it's now appropriate to focus on the company itself. We aim to explore its current performance.
Where Is Reddit Standing Right Now?
- Trading volume stands at 1,812,099, with RDDT's price up by 7.7%, positioned at $75.7.
- RSI indicators show the stock to be may be overbought.
- Earnings announcement expected in 25 days.
Expert Opinions on Reddit
2 market experts have recently issued ratings for this stock, with a consensus target price of $75.0.
- An analyst from Loop Capital has decided to maintain their Buy rating on Reddit, which currently sits at a price target of $75.
- Consistent in their evaluation, an analyst from Needham keeps a Buy rating on Reddit with a target price of $75.
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Reddit options trades with real-time alerts from Benzinga Pro.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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