Deep-pocketed investors have adopted a bearish approach towards Snap SNAP, and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in SNAP usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 8 extraordinary options activities for Snap. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 37% leaning bullish and 62% bearish. Among these notable options, 2 are puts, totaling $54,125, and 6 are calls, amounting to $282,434.
Predicted Price Range
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $5.0 to $14.0 for Snap during the past quarter.
Analyzing 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 $5.0 to $14.0, over the past month.
Snap 30-Day Option Volume & Interest Snapshot
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| SNAP | CALL | SWEEP | BULLISH | 01/17/25 | $7.2 | $7.15 | $7.2 | $5.00 | $72.0K | 4.3K | 451 |
| SNAP | CALL | SWEEP | BEARISH | 05/16/25 | $3.75 | $3.7 | $3.7 | $9.00 | $65.1K | 1.2K | 199 |
| SNAP | CALL | SWEEP | BULLISH | 01/17/25 | $0.2 | $0.2 | $0.2 | $12.50 | $45.5K | 10.4K | 172 |
| SNAP | CALL | SWEEP | BEARISH | 03/21/25 | $4.35 | $4.3 | $4.3 | $8.00 | $43.0K | 578 | 100 |
| SNAP | PUT | SWEEP | BEARISH | 01/31/25 | $0.33 | $0.29 | $0.33 | $11.00 | $28.8K | 575 | 896 |
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.
Having examined the options trading patterns of Snap, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
Present Market Standing of Snap
- Trading volume stands at 8,779,125, with SNAP's price up by 8.16%, positioned at $12.27.
- RSI indicators show the stock to be may be approaching overbought.
- Earnings announcement expected in 20 days.
What The Experts Say On Snap
In the last month, 2 experts released ratings on this stock with an average target price of $15.5.
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. * Reflecting concerns, an analyst from JMP Securities lowers its rating to Market Outperform with a new price target of $16. * An analyst from Wells Fargo has decided to maintain their Overweight rating on Snap, which currently sits at a price target of $15.
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 Snap, Benzinga Pro gives you real-time options trades alerts.
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