High-rolling investors have positioned themselves bearish on Reddit RDDT, and it's important for retail traders to take note. \This activity came to our attention today through Benzinga's tracking of publicly available options data. The identities of these investors are uncertain, but such a significant move in RDDT often signals that someone has privileged information.
Today, Benzinga's options scanner spotted 10 options trades for Reddit. This is not a typical pattern.
The sentiment among these major traders is split, with 20% bullish and 70% bearish. Among all the options we identified, there was one put, amounting to $78,725, and 9 calls, totaling $830,679.
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 $80.0 to $135.0 for Reddit over the last 3 months.
Analyzing Volume & Open Interest
In terms of liquidity and interest, the mean open interest for Reddit options trades today is 334.67 with a total volume of 2,289.00.
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 $80.0 to $135.0 over the last 30 days.
Reddit Call and Put Volume: 30-Day Overview
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| RDDT | CALL | TRADE | BEARISH | 12/06/24 | $36.0 | $34.95 | $35.35 | $100.00 | $346.4K | 348 | 230 |
| RDDT | CALL | TRADE | BEARISH | 01/15/27 | $76.9 | $74.35 | $75.0 | $80.00 | $120.0K | 188 | 16 |
| RDDT | PUT | SWEEP | BEARISH | 11/22/24 | $6.25 | $5.65 | $6.3 | $135.00 | $78.7K | 41 | 137 |
| RDDT | CALL | SWEEP | BEARISH | 04/17/25 | $43.6 | $42.25 | $42.96 | $100.00 | $63.3K | 272 | 15 |
| RDDT | CALL | SWEEP | NEUTRAL | 11/15/24 | $6.05 | $5.7 | $5.76 | $131.00 | $59.4K | 785 | 537 |
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 volume of 782,612, the price of RDDT is up 0.17% at $135.03.
- RSI indicators hint that the underlying stock may be overbought.
- Next earnings are expected to be released in 134 days.
What The Experts Say On Reddit
In the last month, 5 experts released ratings on this stock with an average target price of $99.8.
Unusual Options Activity Detected: Smart Money on the Move
Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. Click here for access. * An analyst from B. Riley Securities has revised its rating downward to Buy, adjusting the price target to $112. * An analyst from Loop Capital persists with their Buy rating on Reddit, maintaining a target price of $120. * Consistent in their evaluation, an analyst from Jefferies keeps a Buy rating on Reddit with a target price of $100. * An analyst from Goldman Sachs persists with their Neutral rating on Reddit, maintaining a target price of $68. * Consistent in their evaluation, an analyst from B of A Securities keeps a Neutral rating on Reddit with a target price of $99.
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 Reddit, 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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