Whales with a lot of money to spend have taken a noticeably bearish stance on Snap.
Looking at options history for Snap SNAP we detected 27 trades.
If we consider the specifics of each trade, it is accurate to state that 48% of the investors opened trades with bullish expectations and 51% with bearish.
From the overall spotted trades, 16 are puts, for a total amount of $1,158,636 and 11, calls, for a total amount of $490,036.
Projected Price Targets
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $13.0 to $32.0 for Snap during the past quarter.
Insights into Volume & Open Interest
Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Snap's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Snap's substantial trades, within a strike price spectrum from $13.0 to $32.0 over the preceding 30 days.
Snap Option Activity Analysis: Last 30 Days
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| SNAP | PUT | SWEEP | BEARISH | 08/16/24 | $14.00 | $222.7K | 67 | 2.4K |
| SNAP | PUT | SWEEP | BEARISH | 08/16/24 | $13.00 | $206.9K | 901 | 488 |
| SNAP | PUT | SWEEP | BEARISH | 08/16/24 | $14.00 | $151.9K | 67 | 1.1K |
| SNAP | PUT | SWEEP | BEARISH | 08/16/24 | $13.00 | $123.4K | 901 | 2.4K |
| SNAP | CALL | SWEEP | BULLISH | 02/02/24 | $16.00 | $104.0K | 2.8K | 2.4K |
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.
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.
Where Is Snap Standing Right Now?
- With a volume of 8,303,400, the price of SNAP is up 2.83% at $16.71.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 8 days.
Expert Opinions on Snap
In the last month, 5 experts released ratings on this stock with an average target price of $17.2.
- An analyst from Piper Sandler has decided to maintain their Neutral rating on Snap, which currently sits at a price target of $17.
- An analyst from Roth MKM persists with their Neutral rating on Snap, maintaining a target price of $14.
- An analyst from BMO Capital has revised its rating downward to Outperform, adjusting the price target to $22.
- An analyst from Stifel persists with their Hold rating on Snap, maintaining a target price of $14.
- In a positive move, an analyst from Deutsche Bank has upgraded their rating to Buy and adjusted the price target to $19.
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 Snap, Benzinga Pro gives you real-time options trades alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Date of Trade | ticker | Put/Call | Strike Price | DTE | Sentiment |
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