Whales with a lot of money to spend have taken a noticeably bearish stance on Reddit.
Looking at options history for Reddit RDDT we detected 8 trades.
If we consider the specifics of each trade, it is accurate to state that 0% of the investors opened trades with bullish expectations and 50% with bearish.
From the overall spotted trades, 2 are puts, for a total amount of $64,010 and 6, calls, for a total amount of $437,485.
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 $45.0 and $72.5 for Reddit, spanning the last three months.
Volume & Open Interest Development
In terms of liquidity and interest, the mean open interest for Reddit options trades today is 579.88 with a total volume of 632.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Reddit's big money trades within a strike price range of $45.0 to $72.5 over the last 30 days.
Reddit Call and Put Volume: 30-Day Overview
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| RDDT | CALL | TRADE | BEARISH | 01/17/25 | $7.3 | $6.0 | $6.0 | $65.00 | $129.6K | 1.4K | 216 |
| RDDT | CALL | TRADE | NEUTRAL | 04/17/25 | $11.45 | $10.65 | $11.0 | $60.00 | $107.8K | 69 | 98 |
| RDDT | CALL | SWEEP | BEARISH | 01/17/25 | $5.15 | $5.0 | $5.0 | $72.50 | $53.0K | 531 | 142 |
| RDDT | CALL | TRADE | BEARISH | 04/17/25 | $16.2 | $15.9 | $15.9 | $50.00 | $52.4K | 20 | 33 |
| RDDT | CALL | SWEEP | NEUTRAL | 10/18/24 | $15.0 | $14.75 | $14.89 | $45.00 | $52.1K | 153 | 35 |
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.
Present Market Standing of Reddit
- With a trading volume of 1,653,863, the price of RDDT is down by 0.0%, reaching $57.0.
- Current RSI values indicate that the stock is may be approaching overbought.
- Next earnings report is scheduled for 81 days from now.
Professional Analyst Ratings for Reddit
5 market experts have recently issued ratings for this stock, with a consensus target price of $66.0.
- Reflecting concerns, an analyst from Needham lowers its rating to Buy with a new price target of $75.
- Maintaining their stance, an analyst from B of A Securities continues to hold a Neutral rating for Reddit, targeting a price of $60.
- Consistent in their evaluation, an analyst from Piper Sandler keeps a Overweight rating on Reddit with a target price of $70.
- An analyst from Roth MKM has decided to maintain their Buy rating on Reddit, which currently sits at a price target of $66.
- An analyst from JP Morgan persists with their Neutral rating on Reddit, maintaining a target price of $59.
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.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
