A whale with a lot of money to spend has taken a noticeably bearish stance on Snap.
Looking at options history for Snap (NYSE:SNAP) we detected 15 strange trades.
If we consider the specifics of each trade, it is accurate to state that 46% of the investors opened trades with bullish expectations and 53% with bearish.
From the overall spotted trades, 12 are puts, for a total amount of $667,947 and 3, calls, for a total amount of $292,527.
What's The Price Target?
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $18.0 to $41.0 for Snap over the last 3 months.
Volume & Open Interest Development
In terms of liquidity and interest, the mean open interest for Snap options trades today is 2583.18 with a total volume of 17,158.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Snap's big money trades within a strike price range of $18.0 to $41.0 over the last 30 days.
Snap Option Volume And Open Interest Over Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| SNAP | PUT | TRADE | BEARISH | 06/17/22 | $18.00 | $231.0K | 712 | 7.0K |
| SNAP | CALL | TRADE | BEARISH | 05/27/22 | $25.00 | $156.0K | 1.7K | 2.0K |
| SNAP | CALL | SWEEP | BULLISH | 09/16/22 | $41.00 | $98.0K | 1.5K | 1.7K |
| SNAP | PUT | SWEEP | BEARISH | 06/17/22 | $36.00 | $71.6K | 5.3K | 76 |
| SNAP | PUT | SWEEP | NEUTRAL | 09/16/22 | $28.00 | $58.4K | 3.6K | 204 |
Where Is Snap Standing Right Now?
- With a volume of 10,527,018, the price of SNAP is down -3.79% at $23.61.
- RSI indicators hint that the underlying stock may be approaching oversold.
- Next earnings are expected to be released in 64 days.
What The Experts Say On Snap:
- Susquehanna has decided to maintain their Neutral rating on Snap, which currently sits at a price target of $34.
- Benchmark has decided to maintain their Buy rating on Snap, which currently sits at a price target of $40.
- Wells Fargo has decided to maintain their Overweight rating on Snap, which currently sits at a price target of $48.
- RBC Capital has decided to maintain their Sector Perform rating on Snap, which currently sits at a price target of $35.
- Stifel has decided to maintain their Buy rating on Snap, which currently sits at a price target of $45.
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.
If you want to stay updated on the latest options trades for {d[company_name]}, Benzinga Progives you real-time options trades alerts.
