Benzinga | Sep 14, 2021 11:23AM EDT

Follow The Smart Money, Looking Into Snap's Biggest Options Trades For Today

Today, Benzinga's options scanner spotted 12 uncommon options trades for Snap (NYSE:SNAP). The overall sentiment shows 33.33% of the big-money traders are bullish on the stock and 66.67%, bearish. Out of all of the special options found by our algorithm, 8 are puts, for a total amount of $1,345,511 and 4, calls, for a total amount of $288,376.

What's The Price Target?

Taking into account the Volume and Open Interest on these contracts, it appears that the smart money is targeting a price range from $60.0 to $75.0 for Snap in the over the last 3 months.

Volume & Open Interest Development

In terms of liquidity and interest, the total open interest for Snap big money options trades today is 41,553 with a total volume of 12,387.

In the following chart, we are able to follow the development of volume and open interest of call and put options for Snap's big money trades within a strike price range of $60.0 to $75.0 over the last 30 days.

Snap Option Volume And Open Interest Over Last 30 Days

Biggest Options Spotted:



Symbol PUT/ Trade Sentiment Exp. Strike Total Trade Open Volume CALL Type Date Price Price InterestSNAP CALL SWEEP BEARISH 10/15/ $70.00 $122.0K 14.3K 373 21SNAP PUT SWEEP BEARISH 11/19/ $60.00 $54.7K 4.9K 1.1K 21SNAP PUT SWEEP BULLISH 04/14/ $70.00 $511.4K 1.3K 533 22SNAP CALL SWEEP BEARISH 09/17/ $75.00 $36.8K 17.5K 819 21SNAP PUT TRADE BULLISH 11/19/ $60.00 $55.0K 4.9K 600 21

Where Is Snap Standing Right Now?

* With a volume of 3,118,607, the price of SNAP is up 0.44% over the last 24 hours at $71.57.

* RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.

* Next earnings are expected to be released in 35 days.

What The Experts Say On Snap:

* Arete Research upgraded its action to Buy saying the stock has the potential to rally 15.97% to a target of $83.0

* Goldman Sachs downgraded its action to Buy saying the stock has the potential to tumble 25.75% to a target of $90.0

Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely. If you are already an options trader or would like to get started, head on over to Benzinga Pro. Benzinga Pro gives you up-to-date news and analytics to empower your investing and trading strategy.