Snap Unusual Options Activity

Financial giants have made a conspicuous bearish move on Snap. Our analysis of options history for Snap SNAP revealed 9 unusual trades.

Delving into the details, we found 44% of traders were bullish, while 55% showed bearish tendencies. Out of all the trades we spotted, 3 were puts, with a value of $246,163, and 6 were calls, valued at $321,510.

What's The Price Target?

After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $8.0 and $13.0 for Snap, spanning the last three months.

Insights into Volume & Open Interest

Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Snap's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Snap's significant trades, within a strike price range of $8.0 to $13.0, over the past month.

Snap Call and Put Volume: 30-Day Overview

Noteworthy Options Activity:

About Snap

Snap is a technology company best known for its marquis social media application Snapchat, a visual messaging application that has amassed hundreds of millions of users. The app was initially only used to communicate with family and friends through photographs and short videos (known as "Snaps"). Users can now enjoy augmented reality, or AR, lenses, content from famous creators and celebrities, updates about local events, and more. Although the app offers a paid subscription option with premium features, advertising sales produce most of the app's revenue. The firm also sells wearable devices called AR Spectacles, which can capture photos and videos overlayed with AR lenses, but these make up a small portion of Snap's overall sales.

In light of the recent options history for Snap, it's now appropriate to focus on the company itself. We aim to explore its current performance.

Snap's Current Market Status

• With a volume of 5,630,848, the price of SNAP is up 0.15% at $10.36.
• RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
• Next earnings are expected to be released in 59 days.

Expert Opinions on Snap

In the last month, 5 experts released ratings on this stock with an average target price of $12.9.

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20-year pro options trader reveals his one-line chart technique that shows when to buy and sell. Copy his trades, which have had averaged a 27% profit every 20 days. Click here for access. * An analyst from JP Morgan persists with their Underweight rating on Snap, maintaining a target price of $10. * An analyst from Susquehanna persists with their Neutral rating on Snap, maintaining a target price of $13. * In a cautious move, an analyst from JMP Securities downgraded its rating to Market Outperform, setting a price target of $16. * An analyst from Wells Fargo has revised its rating downward to Equal-Weight, adjusting the price target to $11. * An analyst from B of A Securities has decided to maintain their Neutral rating on Snap, which currently sits at a price target of $14.

Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Snap with Benzinga Pro for real-time alerts.