Deep-pocketed investors have adopted a bullish approach towards Snap SNAP, and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in SNAP usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 15 extraordinary options activities for Snap. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 53% leaning bullish and 46% bearish. Among these notable options, 3 are puts, totaling $571,315, and 12 are calls, amounting to $1,019,657.
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 $7.0 to $12.0 for Snap over the last 3 months.
Analyzing Volume & Open Interest
In terms of liquidity and interest, the mean open interest for Snap options trades today is 4280.14 with a total volume of 45,299.00.
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 $7.0 to $12.0 over the last 30 days.
Snap Call and Put Volume: 30-Day Overview
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| SNAP | CALL | SWEEP | BEARISH | 01/17/25 | $1.31 | $1.19 | $1.2 | $11.00 | $233.1K | 9.6K | 4.0K |
| SNAP | PUT | SWEEP | BULLISH | 03/21/25 | $1.75 | $1.7 | $1.7 | $10.00 | $216.7K | 3.8K | 1.2K |
| SNAP | PUT | SWEEP | BULLISH | 03/21/25 | $1.7 | $1.68 | $1.7 | $10.00 | $214.4K | 3.8K | 1.2K |
| SNAP | PUT | TRADE | BEARISH | 03/21/25 | $1.68 | $1.67 | $1.68 | $10.00 | $140.1K | 3.8K | 3.7K |
| SNAP | CALL | SWEEP | BEARISH | 01/17/25 | $1.21 | $1.19 | $1.19 | $11.00 | $121.6K | 9.6K | 1.1K |
About Snap
Snap owns one of the most popular social networking apps, Snapchat, claiming more than 400 million daily active users as of the end of 2023. Snap generates nearly all its revenue from advertising. While only about one quarter of users are in North America, the region accounts for about 65% of sales.
Having examined the options trading patterns of Snap, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
Where Is Snap Standing Right Now?
- With a trading volume of 5,954,519, the price of SNAP is up by 4.5%, reaching $10.11.
- Current RSI values indicate that the stock is may be approaching overbought.
- Next earnings report is scheduled for 33 days from now.
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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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