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Dan Nathan Sees Unusual Options Activity In Snap

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On CNBC's "Options Action", Dan Nathan spoke about unusually high options activity in Snap Inc (NYSE: SNAP), ahead of earnings. The company is going to report earnings on Tuesday and the options market is implying a 13 percent move in either direction.

Related Link: Snap's Bears And Bulls Heading Into Q3 Earnings

The options volume was 1.5 times the average daily options volume and Nathan noticed some buying of the November 20/21 call spread. Around 6,500 contracts were traded and Nathan believes that this trade is like a lottery ticket. He added that $17 is a significant resistance for the stock, while its September low of $13 should be a significant support.

Posted-In: CNBC Dan Nathan Options ActionOptions Markets Media

 

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