Decoding Snap's Options Activity: What's the Big Picture?

Financial giants have made a conspicuous bullish move on Snap. Our analysis of options history for Snap SNAP revealed 15 unusual trades.

Delving into the details, we found 53% of traders were bullish, while 20% showed bearish tendencies. Out of all the trades we spotted, 6 were puts, with a value of $202,496, and 9 were calls, valued at $426,462.

What’s The Price Target?

After evaluating the trading volumes and Open Interest, it’s evident that the major market movers are focusing on a price band between $5.0 and $15.0 for Snap, spanning the last three months.

Analyzing Volume & Open Interest

Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Snap’s options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Snap’s significant trades, within a strike price range of $5.0 to $15.0, over the past month.

Snap Call and Put Volume: 30-Day Overview

Largest Options Trades Observed:

About Snap

Snap is a technology company best known for its marquis social media application Snapchat, a visual messaging application that has amassed hundreds of millions of users. The app was initially only used to communicate with family and friends through photographs and short videos (known as “Snaps”). Users can now enjoy augmented reality, or AR, lenses, content from famous creators and celebrities, updates about local events, and more. Although the app offers a paid subscription option with premium features, advertising sales produce most of the app’s revenue. The firm also sells wearable devices called AR Spectacles, which can capture photos and videos overlayed with AR lenses, but these make up a small portion of Snap’s overall 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.

Where Is Snap Standing Right Now?

• With a volume of 24,314,598, the price of SNAP is up 2.53% at $8.93.
• RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
• Next earnings are expected to be released in 23 days.

Professional Analyst Ratings for Snap

2 market experts have recently issued ratings for this stock, with a consensus target price of $11.5.

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* Maintaining their stance, an analyst from Wells Fargo continues to hold a Equal-Weight rating for Snap, targeting a price of $9.
* Consistent in their evaluation, an analyst from Citizens Capital Markets keeps a Market Outperform rating on Snap with a target price of $14.

Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Snap options trades with real-time alerts from Benzinga Pro.