On CNBC's "Options Action," Dan Nathan spoke about unusually high options activity in Snap Inc SNAP. He said the call options volume was five times the average daily volume and 3 times that of puts.
See Also: Analyst Optimism Pushes Snap Shares Higher
When the stock was trading around $11, Nathan noticed a purchase of 6,500 contracts of the October 11 calls for $1.85. The trade breaks even at $12.85 on October expiration or 13.92 percent higher from the closing price on Thursday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in