Financial giants have made a conspicuous bullish move on Snap. Our analysis of options history for Snap SNAP revealed 20 unusual trades.
Delving into the details, we found 55% of traders were bullish, while 40% showed bearish tendencies. Out of all the trades we spotted, 9 were puts, with a value of $636,125, and 11 were calls, valued at $756,602.
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 $8.0 to $15.0 for Snap over the last 3 months.
Insights into Volume & Open Interest
Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Snap's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Snap's significant trades, within a strike price range of $8.0 to $15.0, over the past month.
Snap Option Activity Analysis: 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 | PUT | SWEEP | BULLISH | 01/17/25 | $1.61 | $1.58 | $1.59 | $11.00 | $277.6K | 4.8K | 1.7K |
| SNAP | CALL | SWEEP | BULLISH | 12/20/24 | $0.69 | $0.68 | $0.69 | $13.00 | $276.0K | 2.7K | 4.3K |
| SNAP | PUT | TRADE | NEUTRAL | 01/17/25 | $0.4 | $0.38 | $0.39 | $8.00 | $97.5K | 29.6K | 2.5K |
| SNAP | CALL | SWEEP | BULLISH | 12/20/24 | $1.81 | $1.78 | $1.81 | $10.00 | $88.8K | 3.4K | 1.0K |
| SNAP | CALL | SWEEP | BULLISH | 11/15/24 | $0.98 | $0.94 | $0.98 | $11.50 | $73.5K | 1.6K | 1.2K |
About Snap
Snap is a technology company best known for its marquis social media application Snapchat, a visual messaging application that has amassed hundreds of millions of users. The app was initially only used to communicate with family and friends through photographs and short videos (known as "Snaps"). Users can now enjoy augmented reality, or AR, lenses, content from famous creators and celebrities, updates about local events, and more. Although the app offers a paid subscription option with premium features, advertising sales produce most of the app's revenue. The firm also sells wearable devices called AR Spectacles, which can capture photos and videos overlayed with AR lenses, but these make up a small portion of Snap's overall 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.
Where Is Snap Standing Right Now?
- Currently trading with a volume of 15,439,354, the SNAP's price is up by 2.68%, now at $10.73.
- RSI readings suggest the stock is currently may be approaching overbought.
- Anticipated earnings release is in 1 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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