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 20 trades.
If we consider the specifics of each trade, it is accurate to state that 60% of the investors opened trades with bullish expectations and 30% with bearish.
From the overall spotted trades, 14 are puts, for a total amount of $1,020,115 and 6, calls, for a total amount of $526,551.
Expected Price Movements
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $5.0 and $15.0 for Snap, spanning the last three months.
Volume & Open Interest Trends
Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.
This data can help you track the liquidity and interest for Snap'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 Snap's whale activity within a strike price range from $5.0 to $15.0 in the last 30 days.
Snap Option Activity Analysis: Last 30 Days
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| SNAP | CALL | TRADE | BULLISH | 01/17/25 | $0.76 | $0.73 | $0.75 | $11.00 | $375.0K | 4.1K | 5.0K |
| SNAP | PUT | SWEEP | BEARISH | 12/20/24 | $3.5 | $3.4 | $3.5 | $12.00 | $175.0K | 1.5K | 500 |
| SNAP | PUT | SWEEP | BEARISH | 01/16/26 | $4.4 | $4.3 | $4.4 | $12.00 | $109.9K | 7.6K | 563 |
| SNAP | PUT | SWEEP | BEARISH | 01/16/26 | $4.4 | $4.3 | $4.36 | $12.00 | $109.0K | 7.6K | 450 |
| SNAP | PUT | SWEEP | BULLISH | 11/15/24 | $1.13 | $1.12 | $1.12 | $9.00 | $67.2K | 4.3K | 690 |
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.
Present Market Standing of Snap
- Trading volume stands at 17,394,641, with SNAP's price down by -0.69%, positioned at $8.8.
- RSI indicators show the stock to be may be approaching overbought.
- Earnings announcement expected in 48 days.
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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