Shares of Snap Inc SNAP have added around 16% over the last two days.
On CNBC's "Options Action," Michael Khouw of Optimize Advisors said that Snap was the sixth most active single stock option on Thursday. “We saw calls outpacing puts,” he added.
Check out other stocks making moves in the premarket.
There was an institutional buyer of 5,000 of the November weekly 12 calls at an average price of $2.10 per contract, Khouw mentioned. The trader expects shares of Snap to rise by at least 13% by November, he added.
SNAP Price Action: Shares of Snap gained 9.34% to settle at $12.53 on Thursday.
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