Snap Option Alert: Jan 17 $17 Calls Sweep (24) near the Ask: 413 @ $1.24 vs 13121 OI; Earnings 4/25 After Close Ref=$11.25
Portfolio Pulse from Charles Gross
A significant option trade was made on Snap Inc. (SNAP) involving a sweep of 413 calls for January 17 at $17, priced at $1.24 each, with the trade occurring near the ask price. This activity comes ahead of Snap's earnings report scheduled for April 25, after the market closes. The stock's reference price at the time of the trade was $11.25.
April 09, 2024 | 4:30 pm
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The significant option trade on Snap Inc. (SNAP) indicates increased investor interest and speculative activity ahead of its upcoming earnings report.
The purchase of calls at a strike price significantly higher than the current stock price suggests that investors are speculating on a positive earnings report from Snap Inc. that could drive the stock price up. The timing and nature of the trade, being a sweep near the ask price, further indicate a bullish outlook from the investors involved.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 90