On CNBC’s "Options Action," Mike Khouw of Optimize Advisors said Snap traded at 1.7x average daily call volume.

Don’t forget to check out our premarket coverage here 

There was a buyer of 6,600 of the December 10 calls at an average price of $0.16 per contract, Khouw mentioned.

The trader is betting that Snap's stock will move back above the $10 mark by the end of the week.

Price Action: Shares of Snap dropped 0.5% to $9.41 in the regular trading session on Tuesday, but added 0.9% in after-hours trading. Pinterest and Meta shares jumped 11.9% and 4.7%, respectively, in the session.

Now Read: Why M&T Bank, Palomar Holdings And Other Oversold Majors In The Financial Sector Look Promising