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Mike Khouw Sees Unusual Options Activity In Snap

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On CNBC's "Options Action," Mike Khouw spoke about unusually high options activity in Snap Inc (NYSE: SNAP). The company is going to report earnings on Tuesday after the market closes.

Khouw said options traders are betting the rally in Snap could continue as call options outnumbered puts 4 to 1 on Monday. He added that the stock moves quite sharply on earnings. It has averaged nearly 17% over the last eight quarters and this week it's implying a move of 14% in either direction.

One of the bullish bets during the session on Monday was a purchase of 1,365 contracts of the Aug. 15 calls for $0.84, said Khouw. The trade breaks even at $15.84 or 12% above the closing price on Monday.

Snap's stock traded higher by 1.8% to $14.40 at time of publication.

Related Links:

Stifel Upgrades Snap Ahead Of Earnings

Option Traders Betting Snap Strength Will Continue

Posted-In: CNBC Mike Khouw Options ActionOptions Markets Media

 

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