Benzinga's options scanner has just identified more than 16 option transactions on Snap SNAP, with a cumulative value of $874,025. Concurrently, our algorithms picked up 3 puts, worth a total of 173,001.
Predicted Price Range
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $15.0 to $115.0 for Snap during the past quarter.
Analyzing Volume & Open Interest
In terms of liquidity and interest, the mean open interest for Snap options trades today is 5538.38 with a total volume of 11,889.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Snap's big money trades within a strike price range of $15.0 to $115.0 over the last 30 days.
Snap Option Activity Analysis: Last 30 Days
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| SNAP | CALL | SWEEP | BULLISH | 02/16/24 | $18.00 | $115.2K | 12.0K | 3.1K |
| SNAP | PUT | SWEEP | BEARISH | 02/16/24 | $16.00 | $108.4K | 3.1K | 915 |
| SNAP | CALL | SWEEP | BULLISH | 03/15/24 | $18.00 | $80.5K | 6.8K | 518 |
| SNAP | CALL | SWEEP | BULLISH | 01/17/25 | $17.00 | $80.2K | 10.2K | 191 |
| SNAP | CALL | SWEEP | BULLISH | 04/19/24 | $19.00 | $76.5K | 4.8K | 1.1K |
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.
Present Market Standing of Snap
- Trading volume stands at 2,803,054, with SNAP's price down by -0.47%, positioned at $17.01.
- RSI indicators show the stock to be is currently neutral between overbought and oversold.
- Earnings announcement expected in 25 days.
What Analysts Are Saying About Snap
A total of 3 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $19.666666666666668.
- In a positive move, an analyst from Guggenheim has upgraded their rating to Buy and adjusted the price target to $23.
- Reflecting concerns, an analyst from BMO Capital lowers its rating to Outperform with a new price target of $22.
- An analyst from Stifel persists with their Hold rating on Snap, maintaining a target price 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.
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Date of Trade | ticker | Put/Call | Strike Price | DTE | Sentiment |
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