Unpacking the Latest Options Trading Trends in Reddit

Financial giants have made a conspicuous bullish move on Reddit. Our analysis of options history for Reddit RDDT revealed 31 unusual trades.

Delving into the details, we found 64% of traders were bullish, while 25% showed bearish tendencies. Out of all the trades we spotted, 17 were puts, with a value of $1,181,755, and 14 were calls, valued at $841,520.

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 $35.0 to $135.0 for Reddit during the past quarter.

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 $35.0 to $135.0, over the past month.

Reddit 30-Day Option Volume & Interest Snapshot

Significant Options Trades Detected:

About Reddit

Reddit is a social media platform where users can engage in conversations, explore, and create communities centered around their interests. Founded in 2005 by Steve Huffman and Alexis Ohanian, Reddit has evolved into a vast network of user-generated content organized into specialized forums known as "subreddits." The platform's unique community-driven model relies on volunteer moderators to manage content and maintain subreddit guidelines. Reddit generates revenue through advertising, Premium Memberships, and data licensing agreements.

Present Market Standing of Reddit

• With a trading volume of 2,559,534, the price of RDDT is up by 3.68%, reaching $111.11.
• Current RSI values indicate that the stock is may be approaching overbought.
• Next earnings report is scheduled for 7 days from now.

Professional Analyst Ratings for Reddit

5 market experts have recently issued ratings for this stock, with a consensus target price of $138.0.

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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. * Consistent in their evaluation, an analyst from Citigroup keeps a Buy rating on Reddit with a target price of $150. * An analyst from Truist Securities downgraded its action to Buy with a price target of $150. * An analyst from Piper Sandler has decided to maintain their Overweight rating on Reddit, which currently sits at a price target of $140. * An analyst from Morgan Stanley has decided to maintain their Overweight rating on Reddit, which currently sits at a price target of $140. * Maintaining their stance, an analyst from JP Morgan continues to hold a Neutral rating for Reddit, targeting a price of $110.

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.