Check Out What Whales Are Doing With SNAP

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 13 trades.

If we consider the specifics of each trade, it is accurate to state that 23% of the investors opened trades with bullish expectations and 76% with bearish.

From the overall spotted trades, 3 are puts, for a total amount of $229,011 and 10, calls, for a total amount of $536,021.

Expected Price Movements

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $14.0 to $30.0 for Snap over the last 3 months.

Insights into Volume & Open Interest

In terms of liquidity and interest, the mean open interest for Snap options trades today is 8006.38 with a total volume of 19,745.00.

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 $14.0 to $30.0 over the last 30 days.

Snap Option Volume And Open Interest Over Last 30 Days

Biggest Options Spotted:

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.

Snap's Current Market Status

• With a volume of 12,289,834, the price of SNAP is up 1.91% at $17.38.
• RSI indicators hint that the underlying stock may be approaching overbought.
• Next earnings are expected to be released in 27 days.

What The Experts Say On Snap

3 market experts have recently issued ratings for this stock, with a consensus target price of $19.666666666666668.

• Consistent in their evaluation, an analyst from Stifel keeps a Hold rating on Snap with a target price of $14.
• An analyst from Guggenheim upgraded its action to Buy with a price target of $23.
• In a cautious move, an analyst from BMO Capital downgraded its rating to Outperform, setting a price target of $22.

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.