Benzinga | Dec 9, 2021 09:37PM EST

Check Out What Whales Are Doing With SNAP

A whale with a lot of money to spend has taken a noticeably bearish stance on Snap.

Looking at options history for Snap (NYSE:SNAP) we detected 23 strange trades.

If we consider the specifics of each trade, it is accurate to state that 43.48% of the investors opened trades with bullish expectations and 56.52% with bearish.

From the overall spotted trades, 2 are puts, for a total amount of $117,655.00 and 21, calls, for a total amount of $781,041.00.

What's The Price Target?

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $25.0 to $105.0 for Snap over the last 3 months.

Volume & Open Interest Development

In terms of liquidity and interest, the mean open interest for Snap options trades today is 7792.21 with a total volume of 55,917.00.

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 $25.0 to $105.0 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 PUT TRADE BEARISH 01/21/ $70.00 $90.7K 9.8K 266 22SNAP CALL SWEEP BULLISH 12/17/ $56.00 $75.7K 1.3K 2.8K 21SNAP CALL SWEEP BEARISH 12/10/ $52.00 $62.0K 17.8K 11.1K 21SNAP CALL TRADE BEARISH 12/10/ $49.00 $48.6K 1.6K 361 21SNAP CALL SWEEP BULLISH 01/21/ $55.00 $47.3K 27.1K 3.3K 22

Where Is Snap Standing Right Now?

* With a volume of 18,457,065.00, the price of SNAP is up 8.44% at $54.66.

* RSI indicators hint that the underlying stock may be approaching overbought.

* Next earnings are expected to be released in 57 days.

What The Experts Say On Snap:

* Morgan Stanley has decided to maintain their Overweight rating on Snap, which currently sits at a price target of $65.0.

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.