Whales with a lot of money to spend have taken a noticeably bearish stance on Snap.
Looking at options history for Snap SNAP we detected 11 trades.
If we consider the specifics of each trade, it is accurate to state that 45% of the investors opened trades with bullish expectations and 54% with bearish.
From the overall spotted trades, 3 are puts, for a total amount of $134,600 and 8, calls, for a total amount of $317,051.
Expected Price Movements
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $12.0 and $17.0 for Snap, spanning the last three months.
Volume & Open Interest Development
Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.
This data can help you track the liquidity and interest for Snap's options for a given strike price.
Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Snap's whale activity within a strike price range from $12.0 to $17.0 in the last 30 days.
Snap Option Activity Analysis: Last 30 Days
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| SNAP | CALL | SWEEP | BEARISH | 01/19/24 | $12.00 | $64.2K | 39.5K | 1.0K |
| SNAP | CALL | TRADE | BEARISH | 01/19/24 | $12.00 | $64.2K | 39.5K | 624 |
| SNAP | PUT | SWEEP | BULLISH | 06/21/24 | $15.00 | $45.0K | 1.2K | 210 |
| SNAP | PUT | SWEEP | BULLISH | 06/21/24 | $15.00 | $44.8K | 1.2K | 610 |
| SNAP | PUT | SWEEP | BULLISH | 06/21/24 | $15.00 | $44.8K | 1.2K | 10 |
About Snap
Snap, which refers to itself as a camera company, has one of the most popular social networking apps, Snapchat, in developed regions such as North America and Europe. Snap generates nearly all its revenue from advertising with 70% coming from North America. The firm is headquartered in Venice, California.
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
- With a trading volume of 6,598,970, the price of SNAP is up by 2.26%, reaching $14.93.
- Current RSI values indicate that the stock is may be overbought.
- Next earnings report is scheduled for 55 days from now.
What Analysts Are Saying About Snap
Over the past month, 1 industry analysts have shared their insights on this stock, proposing an average target price of $16.0.
- An analyst from Jefferies upgraded its action to Buy with a price target of $16.
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 Snap with Benzinga Pro for real-time alerts.
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