Market Whales and Their Recent Bets on SNAP Options

Snap -4.49%

Snap

SNAP

10.85

-4.49%

Whales with a lot of money to spend have taken a noticeably bullish stance on Snap.

Looking at options history for Snap (NYSE:SNAP) we detected 10 trades.

If we consider the specifics of each trade, it is accurate to state that 50% of the investors opened trades with bullish expectations and 50% with bearish.

From the overall spotted trades, 3 are puts, for a total amount of $223,974 and 7, calls, for a total amount of $656,814.

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 $10.0 to $35.0 for Snap over the last 3 months.

Analyzing Volume & Open Interest

Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for Snap's options for a given strike price. Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Snap's whale trades within a strike price range from $10.0 to $35.0 in the last 30 days.

Snap Option Volume And Open Interest Over Last 30 Days

Options Call Chart

Biggest Options Spotted:

Symbol PUT/CALL Trade Type Sentiment Exp. Date Strike Price Total Trade Price Open Interest Volume
SNAP CALL TRADE BEARISH 01/16/26 $35.00 $408.0K 1.4K 2.0K
SNAP CALL TRADE BEARISH 01/17/25 $15.00 $105.2K 20.6K 211
SNAP PUT SWEEP BULLISH 03/15/24 $15.00 $95.8K 22.3K 1.4K
SNAP PUT SWEEP BULLISH 03/15/24 $15.00 $82.1K 22.3K 2.5K
SNAP PUT SWEEP BULLISH 03/15/24 $15.00 $45.9K 22.3K 15

About Snap

Snap, which refers to itself as a camera company, has one of the most popular social networking apps, Snapchat, in developed regions such as North America and Europe. Snap generates nearly all its revenue from advertising with 70% coming from North America. The firm is headquartered in Venice, California.

Where Is Snap Standing Right Now?

  • With a volume of 5,045,471, the price of SNAP is down -0.12% at $17.03.
  • RSI indicators hint that the underlying stock may be overbought.
  • Next earnings are expected to be released in 32 days.

Professional Analyst Ratings for Snap

3 market experts have recently issued ratings for this stock, with a consensus target price of $20.333333333333332.

  • Showing optimism, an analyst from Jefferies upgrades its rating to Buy with a revised price target of $16.
  • An analyst from Guggenheim upgraded its action to Buy with a price target of $23.
  • In a positive move, an analyst from Wells Fargo has upgraded their rating to Overweight and adjusted the price target to $22.

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.

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