Snap Option Alert: Aug 18 $14 Calls Sweep (21) near the Ask: 723 @ $1.06 vs 78108 OI; Ref=$12.54
Portfolio Pulse from Charles Gross
A significant number of Snap Inc. (SNAP) call options for August 18 with a strike price of $14 were purchased near the ask price. The volume of these options was 723, compared to an open interest of 78,108. The reference price for SNAP was $12.54.
July 25, 2023 | 2:35 pm
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POSITIVE IMPACT
The purchase of a large volume of call options indicates bullish sentiment for Snap Inc. This could potentially drive the stock price up in the short term.
The purchase of call options is a bullish move, indicating that investors expect the price of SNAP to rise above $14 by August 18. This could potentially increase demand for SNAP shares, driving the price up in the short term.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 100