Investors with a lot of money to spend have taken a bearish stance on Snap SNAP.
And retail traders should know.
We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.
Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with SNAP, it often means somebody knows something is about to happen.
So how do we know what these investors just did?
Today, Benzinga's options scanner spotted 23 uncommon options trades for Snap.
This isn't normal.
The overall sentiment of these big-money traders is split between 47% bullish and 52%, bearish.
Out of all of the special options we uncovered, 6 are puts, for a total amount of $399,703, and 17 are calls, for a total amount of $745,732.
Expected Price Movements
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $10.0 to $17.0 for Snap over the recent three months.
Volume & Open Interest Trends
In terms of liquidity and interest, the mean open interest for Snap options trades today is 15057.5 with a total volume of 35,907.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Snap's big money trades within a strike price range of $10.0 to $17.0 over the last 30 days.
Snap Option Volume And Open Interest Over Last 30 Days
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| SNAP | PUT | SWEEP | BULLISH | 03/21/25 | $4.95 | $4.85 | $4.85 | $17.00 | $99.9K | 1.1K | 551 |
| SNAP | PUT | SWEEP | BULLISH | 03/21/25 | $4.75 | $4.7 | $4.7 | $17.00 | $98.2K | 1.1K | 345 |
| SNAP | CALL | TRADE | BULLISH | 05/16/25 | $3.6 | $3.55 | $3.6 | $10.00 | $81.0K | 3.8K | 640 |
| SNAP | PUT | SWEEP | BEARISH | 01/17/25 | $0.46 | $0.45 | $0.46 | $12.00 | $71.3K | 16.9K | 738 |
| SNAP | CALL | SWEEP | BEARISH | 05/16/25 | $3.9 | $3.8 | $3.8 | $10.00 | $68.4K | 3.8K | 180 |
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.
Where Is Snap Standing Right Now?
- With a volume of 14,013,372, the price of SNAP is up 0.04% at $12.57.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 28 days.
What Analysts Are Saying About Snap
A total of 1 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $16.0.
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 JMP Securities has revised its rating downward to Market Outperform, adjusting the price target to $16.
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.
© 2025 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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