Deep-pocketed investors have adopted a bullish 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 22 extraordinary options activities for Reddit. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 45% leaning bullish and 40% bearish. Among these notable options, 11 are puts, totaling $748,079, and 11 are calls, amounting to $752,926.
Projected Price Targets
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $60.0 to $195.0 for Reddit over the recent 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 Reddit's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Reddit's significant trades, within a strike price range of $60.0 to $195.0, over the past month.
Reddit Call and Put Volume: 30-Day Overview
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| RDDT | CALL | SWEEP | BULLISH | 01/16/26 | $103.0 | $102.8 | $103.0 | $60.00 | $205.8K | 594 | 22 |
| RDDT | PUT | SWEEP | NEUTRAL | 02/28/25 | $37.8 | $35.55 | $36.77 | $195.00 | $117.5K | 241 | 33 |
| RDDT | PUT | SWEEP | NEUTRAL | 02/28/25 | $37.75 | $35.8 | $36.7 | $195.00 | $106.2K | 241 | 138 |
| RDDT | PUT | SWEEP | BEARISH | 02/28/25 | $37.8 | $35.55 | $36.96 | $195.00 | $96.3K | 241 | 99 |
| RDDT | CALL | SWEEP | BEARISH | 04/17/25 | $20.8 | $18.6 | $18.6 | $150.00 | $91.1K | 568 | 49 |
About Reddit
Reddit Inc is engaged in providing internet content. The company provides online human connections to communities, endless conversation, sports, business, crypto, television, and others. It generates a majority of revenue through the sale of advertising on mobile applications and websites. Other revenue consists of revenue from content licensing, Reddit Premium subscriptions, and products within the user economy.
Reddit's Current Market Status
- Currently trading with a volume of 830,296, the RDDT's price is down by -1.3%, now at $157.71.
- RSI readings suggest the stock is currently may be approaching oversold.
- Anticipated earnings release is in 86 days.
Expert Opinions on Reddit
5 market experts have recently issued ratings for this stock, with a consensus target price of $201.0.
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. * Consistent in their evaluation, an analyst from JMP Securities keeps a Market Outperform rating on Reddit with a target price of $200. * Consistent in their evaluation, an analyst from B of A Securities keeps a Neutral rating on Reddit with a target price of $190. * An analyst from Baird persists with their Neutral rating on Reddit, maintaining a target price of $185. * An analyst from Needham persists with their Buy rating on Reddit, maintaining a target price of $220. * An analyst from Morgan Stanley has decided to maintain their Overweight rating on Reddit, which currently sits at a price target of $210.
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 Reddit with Benzinga Pro for real-time alerts.
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