Snap Option Alert: Jul 28 $13.5 Calls Sweep (25) near the Ask: 483 @ $1.24 vs 2698 OI; Ref=$13.23
Portfolio Pulse from Charles Gross
There has been a significant options activity on Snap Inc. (SNAP) with a sweep of 483 calls at a strike price of $13.5 expiring on July 28. The volume of these calls is higher than the open interest of 2698. The reference price is $13.23.
July 18, 2023 | 7:30 pm
News sentiment analysis
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POSITIVE IMPACT
The high volume of calls at a strike price of $13.5 for SNAP indicates bullish sentiment among investors. This could potentially drive the stock price up in the short term.
The volume of calls purchased is significantly higher than the open interest, indicating a strong demand for SNAP shares at a price of $13.5. This suggests that investors are expecting the price to rise above this level before the expiry date, which could potentially drive the stock price up in the short term.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100