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 15 trades.
If we consider the specifics of each trade, it is accurate to state that 66% of the investors opened trades with bullish expectations and 26% with bearish.
From the overall spotted trades, 11 are puts, for a total amount of $416,963 and 4, calls, for a total amount of $478,397.
Predicted Price Range
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $10.0 to $20.0 for Snap over the last 3 months.
Insights into Volume & Open Interest
Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Snap's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Snap's substantial trades, within a strike price spectrum from $10.0 to $20.0 over the preceding 30 days.
Snap Option Volume And Open Interest Over Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| SNAP | CALL | TRADE | BEARISH | 01/16/26 | $1.66 | $1.62 | $1.63 | $17.00 | $220.0K | 5.4K | 1.3K |
| SNAP | CALL | SWEEP | BULLISH | 12/20/24 | $0.94 | $0.93 | $0.93 | $12.00 | $176.3K | 3.6K | 240 |
| SNAP | PUT | SWEEP | BULLISH | 01/16/26 | $2.44 | $2.4 | $2.4 | $10.00 | $57.1K | 7.6K | 1.0K |
| SNAP | CALL | SWEEP | BULLISH | 12/20/24 | $0.68 | $0.66 | $0.67 | $13.00 | $56.1K | 1.7K | 849 |
| SNAP | PUT | SWEEP | BULLISH | 01/16/26 | $2.44 | $2.4 | $2.4 | $10.00 | $54.4K | 7.6K | 688 |
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.
In light of the recent options history for Snap, it's now appropriate to focus on the company itself. We aim to explore its current performance.
Current Position of Snap
- Currently trading with a volume of 17,685,615, the SNAP's price is up by 4.17%, now at $10.86.
- RSI readings suggest the stock is currently may be overbought.
- Anticipated earnings release is in 20 days.
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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.
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