Snap Options Volume Surges as $8 Call Requires 30% Rally
Photo: TokenPost
Snap options activity climbed sharply Monday as traders concentrated on call contracts, including an $8 call expiring Dec. 18 that would need the stock to rally about 30% before expiration to pay off. By 2:37 p.m. ET (18:37 UTC) Monday, options volume had risen to more than four times its monthly average. Nearly 140,000 Snap options changed hands, including about 64,000 calls likely initiated by buyers and fewer than 7,000 puts. Traders sold more than 12,000 puts and slightly more than 34,000 calls. Calls made up nine of the 10 top trades by volume.
Source: TokenPost
