Deep-pocketed investors have adopted a bullish 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 15 extraordinary options activities for Snap. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 80% leaning bullish and 6% bearish. Among these notable options, 9 are puts, totaling $625,836, and 6 are calls, amounting to $201,390.
Expected Price Movements
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $11.0 to $19.0 for Snap over the last 3 months.
Insights into Volume & Open Interest
In today's trading context, the average open interest for options of Snap stands at 1924.78, with a total volume reaching 4,829.00. 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 $11.0 to $19.0, 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 | BULLISH | 12/20/24 | $6.15 | $6.1 | $6.1 | $19.00 | $168.3K | 14 | 414 |
| SNAP | PUT | SWEEP | BULLISH | 01/17/25 | $4.7 | $4.65 | $4.65 | $17.00 | $121.3K | 3.2K | 1 |
| SNAP | PUT | SWEEP | BULLISH | 12/20/24 | $6.2 | $6.1 | $6.1 | $19.00 | $84.2K | 14 | 0 |
| SNAP | PUT | SWEEP | BULLISH | 11/15/24 | $6.15 | $6.1 | $6.1 | $19.00 | $66.5K | 241 | 110 |
| SNAP | PUT | SWEEP | BULLISH | 08/02/24 | $0.92 | $0.9 | $0.9 | $12.50 | $52.3K | 1.2K | 655 |
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.
Current Position of Snap
- With a trading volume of 7,375,961, the price of SNAP is down by -0.45%, reaching $13.39.
- Current RSI values indicate that the stock is may be oversold.
- Next earnings report is scheduled for 6 days from now.
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 Snap 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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