Deep-pocketed investors have adopted a bearish approach towards Reddit RDDT, 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 RDDT usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 15 extraordinary options activities for Reddit. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 20% leaning bullish and 53% bearish. Among these notable options, 3 are puts, totaling $247,950, and 12 are calls, amounting to $459,526.
Projected Price Targets
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $60.0 to $200.0 for Reddit during the past quarter.
Volume & Open Interest Trends
In terms of liquidity and interest, the mean open interest for Reddit options trades today is 521.67 with a total volume of 924.00.
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 $60.0 to $200.0 over the last 30 days.
Reddit 30-Day Option Volume & Interest Snapshot
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| RDDT | PUT | TRADE | NEUTRAL | 01/31/25 | $19.6 | $17.4 | $18.5 | $200.00 | $185.0K | 201 | 100 |
| RDDT | CALL | TRADE | NEUTRAL | 01/31/25 | $31.3 | $28.65 | $29.88 | $155.00 | $119.5K | 291 | 20 |
| RDDT | CALL | TRADE | BEARISH | 01/16/26 | $54.4 | $53.3 | $53.3 | $185.00 | $53.3K | 111 | 14 |
| RDDT | PUT | TRADE | BEARISH | 01/24/25 | $7.55 | $7.55 | $7.55 | $190.00 | $37.7K | 122 | 50 |
| RDDT | CALL | TRADE | NEUTRAL | 03/21/25 | $20.0 | $17.3 | $18.65 | $200.00 | $37.3K | 778 | 0 |
About Reddit
Reddit Inc is engaged in providing internet content. The company provides online services that include gaming, sports, business, crypto, television and others.
Where Is Reddit Standing Right Now?
- With a trading volume of 1,104,061, the price of RDDT is down by -1.5%, reaching $185.5.
- Current RSI values indicate that the stock is may be approaching overbought.
- Next earnings report is scheduled for 21 days from now.
What The Experts Say On Reddit
5 market experts have recently issued ratings for this stock, with a consensus target price of $187.0.
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20-year pro options trader reveals his one-line chart technique that shows when to buy and sell. Copy his trades, which have had averaged a 27% profit every 20 days. Click here for access. * Maintaining their stance, an analyst from Piper Sandler continues to hold a Overweight rating for Reddit, targeting a price of $197. * Maintaining their stance, an analyst from Goldman Sachs continues to hold a Neutral rating for Reddit, targeting a price of $176. * Consistent in their evaluation, an analyst from B. Riley Securities keeps a Buy rating on Reddit with a target price of $187. * Reflecting concerns, an analyst from Roth MKM lowers its rating to Neutral with a new price target of $195. * An analyst from B of A Securities has decided to maintain their Neutral rating on Reddit, which currently sits at a price target of $180.
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.
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