Whales with a lot of money to spend have taken a noticeably bullish stance on Snap.
Looking at options history for Snap SNAP we detected 16 trades.
If we consider the specifics of each trade, it is accurate to state that 50% of the investors opened trades with bullish expectations and 50% with bearish.
From the overall spotted trades, 4 are puts, for a total amount of $229,544 and 12, calls, for a total amount of $630,396.
Projected Price Targets
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $7.0 and $14.0 for Snap, spanning the last three months.
Volume & Open Interest Trends
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 $7.0 to $14.0, over the past month.
Snap 30-Day Option Volume & Interest Snapshot
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| SNAP | PUT | TRADE | BULLISH | 02/07/25 | $0.73 | $0.71 | $0.71 | $11.50 | $96.5K | 10.3K | 2.2K |
| SNAP | CALL | SWEEP | BEARISH | 06/18/26 | $3.6 | $3.5 | $3.5 | $10.00 | $76.3K | 1.7K | 415 |
| SNAP | CALL | SWEEP | BULLISH | 02/21/25 | $3.35 | $3.25 | $3.33 | $7.50 | $67.0K | 1 | 200 |
| SNAP | CALL | SWEEP | BULLISH | 02/21/25 | $3.25 | $3.2 | $3.25 | $7.50 | $65.0K | 1 | 600 |
| SNAP | CALL | SWEEP | BULLISH | 02/21/25 | $3.25 | $3.15 | $3.25 | $7.50 | $64.9K | 1 | 400 |
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.
Following our analysis of the options activities associated with Snap, we pivot to a closer look at the company's own performance.
Present Market Standing of Snap
- Trading volume stands at 5,270,501, with SNAP's price up by 0.7%, positioned at $10.77.
- RSI indicators show the stock to be may be approaching oversold.
- Earnings announcement expected in 76 days.
Professional Analyst Ratings for Snap
Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $12.7.
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 Wells Fargo downgraded its action to Equal-Weight with a price target of $11. * An analyst from Susquehanna has decided to maintain their Neutral rating on Snap, which currently sits at a price target of $13. * Consistent in their evaluation, an analyst from JP Morgan keeps a Underweight rating on Snap with a target price of $10. * In a cautious move, an analyst from JMP Securities downgraded its rating to Market Outperform, setting a price target of $16. * Consistent in their evaluation, an analyst from Citigroup keeps a Neutral rating on Snap with a target price of $13.
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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