What the Options Market Tells Us About Snap
Portfolio Pulse from Benzinga Insights
Investors have shown a bullish stance on Snap Inc. (NYSE:SNAP) through significant options trading activity, with a sentiment split of 65% bullish and 29% bearish. The options market indicates an expected price window for SNAP between $9.0 to $35.0. The largest trades include both bullish and bearish positions, with a notable volume and open interest in options within the mentioned price range. Snap, known for its social networking app Snapchat, has over 400 million daily active users, with North America accounting for a significant portion of its sales. The stock is currently trading at $11.11, with an RSI indicating a neutral position and an earnings announcement expected in 3 days. Analysts have given SNAP an average target price of $12.5.
April 22, 2024 | 5:46 pm
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Significant options trading activity indicates a bullish sentiment among investors for Snap Inc., with an expected price range of $9 to $35. The company's strong user base and upcoming earnings announcement could influence stock price movements.
The bullish sentiment in the options market, combined with Snap's substantial daily active users and the anticipation of its earnings announcement, suggests a positive short-term impact on SNAP's stock price. The detailed options trading activity, including both bullish and bearish trades, reflects investor speculation on the company's future performance. However, the overall bullish sentiment, supported by analysts' target prices, indicates a potential increase in SNAP's stock price in the short term.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100