A whale with a lot of money to spend has taken a noticeably bearish stance on Snap.
Looking at options history for Snap SNAP we detected 19 strange trades.
If we consider the specifics of each trade, it is accurate to state that 47% of the investors opened trades with bullish expectations and 52% with bearish.
From the overall spotted trades, 17 are puts, for a total amount of $1,177,005 and 2, calls, for a total amount of $116,809.
What's The Price Target?
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $9.0 to $22.0 for Snap over the last 3 months.
Volume & Open Interest Development
In terms of liquidity and interest, the mean open interest for Snap options trades today is 9934.77 with a total volume of 24,571.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Snap's big money trades within a strike price range of $9.0 to $22.0 over the last 30 days.
Snap Option Volume And Open Interest Over Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| SNAP | PUT | SWEEP | BULLISH | 04/14/23 | $11.00 | $162.2K | 1.0K | 4.8K |
| SNAP | PUT | SWEEP | BULLISH | 01/19/24 | $17.00 | $115.6K | 878 | 222 |
| SNAP | PUT | SWEEP | BEARISH | 09/15/23 | $10.00 | $112.0K | 4.8K | 774 |
| SNAP | PUT | SWEEP | BULLISH | 01/19/24 | $15.00 | $106.6K | 14.2K | 705 |
| SNAP | CALL | SWEEP | BULLISH | 04/21/23 | $12.00 | $91.4K | 16.8K | 3.2K |
Where Is Snap Standing Right Now?
- With a volume of 20,163,545, the price of SNAP is down -3.94% at $10.62.
- RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
- Next earnings are expected to be released in 42 days.
What The Experts Say On Snap:
- Rosenblatt downgraded its action to Neutral with a price target of $10
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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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