What the Options Market Tells Us About Snap
Portfolio Pulse from Benzinga Insights
The options market shows a bearish sentiment towards Snap (NYSE:SNAP), with 66% of big-money traders favoring puts over calls. The trading activity suggests a focus on a price range of $8.0 to $11.0. Snap's stock is currently trading at $9.27, with a slight increase of 0.38%.
August 19, 2024 | 4:15 pm
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The options market indicates a bearish sentiment towards Snap, with 66% of trades being puts. This suggests potential downward pressure on Snap's stock price in the short term.
The options market is showing a significant bearish sentiment with 66% of the trades being puts. This indicates that traders are expecting a decline in Snap's stock price. The focus on a price range of $8.0 to $11.0 suggests that traders are positioning for potential downward movement. The current trading price of $9.27, along with the RSI indicating oversold conditions, supports the possibility of a short-term price decline.
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