Financial giants have made a conspicuous bullish move on Reddit. Our analysis of options history for Reddit RDDT revealed 32 unusual trades.
Delving into the details, we found 46% of traders were bullish, while 31% showed bearish tendencies. Out of all the trades we spotted, 4 were puts, with a value of $184,545, and 28 were calls, valued at $1,624,369.
Projected Price Targets
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $115.0 and $260.0 for Reddit, 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 Reddit'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 Reddit's whale activity within a strike price range from $115.0 to $260.0 in the last 30 days.
Reddit Option Volume And Open Interest Over Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| RDDT | CALL | TRADE | BEARISH | 04/17/25 | $30.7 | $29.75 | $30.0 | $180.00 | $300.0K | 657 | 101 |
| RDDT | CALL | TRADE | BULLISH | 04/17/25 | $25.6 | $24.55 | $25.6 | $185.00 | $256.0K | 39 | 100 |
| RDDT | CALL | TRADE | BULLISH | 04/17/25 | $22.75 | $22.45 | $22.75 | $200.00 | $138.7K | 259 | 66 |
| RDDT | PUT | SWEEP | BEARISH | 01/17/25 | $13.0 | $12.6 | $12.88 | $180.00 | $65.0K | 92 | 67 |
| RDDT | CALL | TRADE | NEUTRAL | 01/17/25 | $15.8 | $15.15 | $15.47 | $170.00 | $58.7K | 5.4K | 159 |
About Reddit
Reddit Inc is engaged in providing internet content. The company provides online services that include gaming, sports, business, crypto, television and others.
Following our analysis of the options activities associated with Reddit, we pivot to a closer look at the company's own performance.
Present Market Standing of Reddit
- With a trading volume of 2,074,253, the price of RDDT is up by 5.39%, reaching $177.7.
- Current RSI values indicate that the stock is may be overbought.
- Next earnings report is scheduled for 91 days from now.
Professional Analyst Ratings for Reddit
5 market experts have recently issued ratings for this stock, with a consensus target price of $179.0.
Unusual Options Activity Detected: Smart Money on the Move
Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. Click here for access. * Consistent in their evaluation, an analyst from Needham keeps a Buy rating on Reddit with a target price of $190. * An analyst from Jefferies persists with their Buy rating on Reddit, maintaining a target price of $175. * An analyst from Guggenheim downgraded its action to Buy with a price target of $210. * An analyst from Baird has decided to maintain their Neutral rating on Reddit, which currently sits at a price target of $160. * Consistent in their evaluation, an analyst from JMP Securities keeps a Market Outperform rating on Reddit with a target price of $160.
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 Reddit, Benzinga Pro gives you real-time options trades alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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