Whales with a lot of money to spend have taken a noticeably bearish stance on Reddit.
Looking at options history for Reddit RDDT we detected 8 trades.
If we consider the specifics of each trade, it is accurate to state that 12% of the investors opened trades with bullish expectations and 87% with bearish.
From the overall spotted trades, 2 are puts, for a total amount of $77,200 and 6, calls, for a total amount of $416,132.
What's The Price Target?
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $25.0 to $70.0 for Reddit during the past quarter.
Analyzing 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 Reddit's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Reddit's substantial trades, within a strike price spectrum from $25.0 to $70.0 over the preceding 30 days.
Reddit Option Activity Analysis: Last 30 Days
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| RDDT | CALL | TRADE | BEARISH | 07/19/24 | $17.8 | $17.5 | $17.5 | $25.00 | $175.0K | 5 | 208 |
| RDDT | CALL | SWEEP | BEARISH | 05/31/24 | $2.95 | $2.75 | $2.75 | $50.00 | $85.8K | 3 | 201 |
| RDDT | CALL | TRADE | BEARISH | 05/31/24 | $3.4 | $2.95 | $2.95 | $50.00 | $59.2K | 3 | 201 |
| RDDT | PUT | TRADE | BEARISH | 05/31/24 | $3.5 | $3.2 | $3.4 | $37.50 | $51.0K | 1 | 150 |
| RDDT | CALL | SWEEP | BEARISH | 01/17/25 | $4.5 | $4.2 | $4.24 | $70.00 | $39.9K | 524 | 3 |
About Reddit
Reddit Inc is engaged in providing internet content. The company provides online services that include gaming, sports, business, crypto, television and others.
In light of the recent options history for Reddit, it's now appropriate to focus on the company itself. We aim to explore its current performance.
Where Is Reddit Standing Right Now?
- With a trading volume of 1,216,906, the price of RDDT is up by 3.13%, reaching $41.25.
- Current RSI values indicate that the stock is is currently neutral between overbought and oversold.
- Next earnings report is scheduled for 21 days from now.
What Analysts Are Saying About Reddit
In the last month, 5 experts released ratings on this stock with an average target price of $48.8.
- Reflecting concerns, an analyst from B of A Securities lowers its rating to Neutral with a new price target of $46.
- Reflecting concerns, an analyst from Loop Capital lowers its rating to Buy with a new price target of $55.
- Reflecting concerns, an analyst from Citigroup lowers its rating to Buy with a new price target of $53.
- In a cautious move, an analyst from Raymond James downgraded its rating to Strong Buy, setting a price target of $50.
- An analyst from Bernstein downgraded its action to Underperform with a price target of $40.
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 Reddit options trades with real-time alerts from Benzinga Pro.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Date of Trade | ticker | Put/Call | Strike Price | DTE | Sentiment |
|---|
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
