Snap Option Alert: May 17 $15 Calls Sweep (40) near the Ask: 4378 @ $0.411 vs 170332 OI; Earnings 4/25 After Close [est] Ref=$11.275
Portfolio Pulse from Charles Gross
There was a significant option trading activity for Snap Inc. (SNAP), involving a sweep of 4,378 May 17 $15 call options at $0.411 each, compared to an open interest of 170,332. This activity occurred with SNAP's stock price at $11.275, ahead of their earnings announcement estimated for April 25 after the market closes.
April 01, 2024 | 7:01 pm
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POSITIVE IMPACT
Significant options activity detected for SNAP with a sweep of May 17 $15 calls, indicating potential investor anticipation of positive earnings or stock movement.
The purchase of a large number of call options at a strike price above the current stock price suggests that investors are anticipating a positive move in SNAP's stock price, potentially driven by favorable earnings results. The timing, just before the earnings announcement, and the volume of the trade, compared to the open interest, highlight the significance of this activity.
CONFIDENCE 75
IMPORTANCE 80
RELEVANCE 90