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Deep-pocketed investors have adopted a bearish approach towards Snap (NYSE:SNAP), and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in SNAP usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 52 extraordinary options activities for Snap. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 26% leaning bullish and 69% bearish. Among these notable options, 12 are puts, totaling $532,279, and 40 are calls, amounting to $3,757,722.
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $8.5 to $30.0 for Snap over the recent three months.
Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Snap's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Snap's substantial trades, within a strike price spectrum from $8.5 to $30.0 over the preceding 30 days.
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| SNAP | CALL | SWEEP | BEARISH | 01/16/26 | $2.29 | $1.71 | $1.7 | $22.00 | $298.5K | 14.8K | 2.5K |
| SNAP | CALL | TRADE | NEUTRAL | 01/16/26 | $2.2 | $1.98 | $2.1 | $20.00 | $210.0K | 7.2K | 1.0K |
| SNAP | CALL | TRADE | BEARISH | 01/16/26 | $2.19 | $2.07 | $2.1 | $20.00 | $210.0K | 7.2K | 0 |
| SNAP | CALL | SWEEP | BEARISH | 01/16/26 | $2.3 | $2.06 | $2.06 | $20.00 | $205.8K | 7.2K | 3.0K |
| SNAP | CALL | SWEEP | BEARISH | 01/17/25 | $1.6 | $1.57 | $1.57 | $15.00 | $157.0K | 37.6K | 8.0K |
Snap owns one of the most popular social networking apps, Snapchat, claiming more than 400 million daily active users as of the end of 2023. Snap generates nearly all its revenue from advertising. While only about one quarter of users are in North America, the region accounts for about 65% of sales.
After a thorough review of the options trading surrounding Snap, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
In the last month, 3 experts released ratings on this stock with an average target price of $13.0.
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.
Posted In: SNAP
