Financial giants have made a conspicuous bullish move on Reddit. Our analysis of options history for Reddit RDDT revealed 19 unusual trades.
Delving into the details, we found 47% of traders were bullish, while 42% showed bearish tendencies. Out of all the trades we spotted, 6 were puts, with a value of $435,250, and 13 were calls, valued at $1,046,676.
Projected Price Targets
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $30.0 to $105.0 for Reddit over the recent three months.
Volume & Open Interest Trends
In today’s trading context, the average open interest for options of Reddit stands at 497.86, with a total volume reaching 4,425.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Reddit, situated within the strike price corridor from $30.0 to $105.0, throughout the last 30 days.
Reddit Option Activity Analysis: Last 30 Days
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| RDDT | CALL | SWEEP | BULLISH | 10/25/24 | $4.25 | $4.1 | $4.1 | $75.00 | $203.4K | 1.0K | 502 |
| RDDT | CALL | TRADE | BEARISH | 01/17/25 | $8.35 | $7.85 | $7.9 | $80.00 | $201.4K | 1.8K | 284 |
| RDDT | PUT | SWEEP | BEARISH | 11/15/24 | $7.25 | $7.2 | $7.2 | $80.00 | $162.7K | 668 | 233 |
| RDDT | PUT | SWEEP | BEARISH | 11/15/24 | $7.2 | $7.05 | $7.2 | $80.00 | $144.0K | 668 | 433 |
| RDDT | CALL | SWEEP | BULLISH | 10/25/24 | $1.93 | $1.92 | $1.93 | $79.00 | $135.1K | 497 | 1.2K |
About Reddit
Reddit Inc is engaged in providing internet content. The company provides online services that include gaming, sports, business, crypto, television and others.
Having examined the options trading patterns of Reddit, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
Where Is Reddit Standing Right Now?
- Currently trading with a volume of 4,073,508, the RDDT’s price is down by -0.57%, now at $76.85.
- RSI readings suggest the stock is currently may be approaching overbought.
- Anticipated earnings release is in 6 days.
What The Experts Say On Reddit
5 market experts have recently issued ratings for this stock, with a consensus target price of $87.2.
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* Maintaining their stance, an analyst from JP Morgan continues to hold a Neutral rating for Reddit, targeting a price of $77.
* Consistent in their evaluation, an analyst from Jefferies keeps a Buy rating on Reddit with a target price of $100.
* Consistent in their evaluation, an analyst from Raymond James keeps a Strong Buy rating on Reddit with a target price of $80.
* Maintaining their stance, an analyst from Roth MKM continues to hold a Buy rating for Reddit, targeting a price of $89.
* In a cautious move, an analyst from Jefferies downgraded its rating to Buy, setting a price target of $90.
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 Reddit with Benzinga Pro for real-time alerts.
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