A Closer Look at Snap's Options Market Dynamics

Financial giants have made a conspicuous bearish move on Snap. Our analysis of options history for Snap SNAP revealed 34 unusual trades.

Delving into the details, we found 35% of traders were bullish, while 64% showed bearish tendencies. Out of all the trades we spotted, 3 were puts, with a value of $120,066, and 31 were calls, valued at $1,591,801.

Expected Price Movements

Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $5.0 to $22.0 for Snap during the past quarter.

Analyzing Volume & Open Interest

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 $5.0 to $22.0 in the last 30 days.

Snap Option Activity Analysis: 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.

After a thorough review of the options trading surrounding Snap, we move to examine the company in more detail. This includes an assessment of its current market status and performance.

Current Position of Snap

• With a volume of 23,466,200, the price of SNAP is down -1.52% at $16.18.
• RSI indicators hint that the underlying stock may be approaching oversold.
• Next earnings are expected to be released in 21 days.

What Analysts Are Saying About Snap

A total of 3 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $19.666666666666668.

• An analyst from Stifel has decided to maintain their Hold rating on Snap, which currently sits at a price target of $14.
• Showing optimism, an analyst from Guggenheim upgrades its rating to Buy with a revised 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 trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Snap options trades with real-time alerts from Benzinga Pro.