Someone with a lot of money to spend (and maybe some insider knowledge) took an unusually bullish stance on (Snap: SNAP).
And retail traders should know.
Looking at the options activity for Break (NYSE: SNAP) we detected 42 unusual transactions. If we consider the specifics of each trade, it is correct to state that 57.14% of investors opened trades with bullish expectations and 42.86% with bearish expectations. Out of all the transactions identified, 5 are put options, for a total amount of $ 771,420 and 37, calls, for a total amount of $ 2,808,922.
What is the target price?
Considering the volume and open interest on these contracts, it looks like smart money is aiming for a price range of $ 50 to $ 82.0 for Snap over the past 3 months.
Development of volume and open interest
In terms of liquidity and interest, the total open interest for Snap big money options trades today is 95,524 with a total volume of 165,388.
In the following chart, we are able to track the evolution of the volume and open interest of call and put options for large Snap trades within a strike price range of $ 50.0 to $ 82.0 in the last 30 days.
Volume of instant options and open interest during the last 30 days
The biggest options spotted:
|symbol||PLACE / CALL||Type of business||Feeling||Exp. Dated||Strike price||Total trade price||Open interest||Volume|
|BREAK||CALL||TO SWEEP UP||BULLISH||10/15/21||$ 80.00||$ 63.6K||24.6K||7.7K|
|BREAK||CALL||TO SWEEP UP||BULLISH||09/24/21||$ 75.00||$ 200.3K||6.8K||11.0K|
|BREAK||CALL||TRADE||NEUTRAL||09/24/21||$ 75.00||$ 182.9K||6.8K||10.0K|
|BREAK||CALL||TRADE||NEUTRAL||10/15/21||$ 80.00||$ 76.4K||24.6K||4.7K|
|BREAK||CALL||TRADE||BULLISH||10/15/21||$ 80.00||$ 42.4K||24.6K||7.4K|
Where is Snap now?
- With a volume of 8,952,672, the price of SNAP is up 5.35% in the last 24 hours to $ 75.57.
- RSI indicators suggest that the underlying stock could be close to overbought.
- The next results should be published in 28 days.
What the experts say about Snap:
- Arete Research improved its action to buy with a price target of $ 83.0
- Goldman Sachs lowered its buy stock with a price target of $ 90.0
Options are a riskier asset compared to just trading stocks, but they have a higher profit potential. Serious options traders manage this risk by educating themselves daily, increasing and decreasing trades, following more than one indicator and closely following the markets. If you’re already an options trader or want to get started, head over to Benzinga Pro. Benzinga Pro gives you up-to-date news and analysis to strengthen your investing and trading strategy.