Investors with a lot of money to spend have taken a bearish stance on Snap (NYSE:SNAP).
And retail traders should know.
We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.
Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with SNAP, it often means somebody knows something is about to happen.
So how do we know what these investors just did?
Today, Benzinga's options scanner spotted 16 uncommon options trades for Snap.
This isn't normal.
The overall sentiment of these big-money traders is split between 25% bullish and 75%, bearish.
Out of all of the special options we uncovered, 9 are puts, for a total amount of $802,455, and 7 are calls, for a total amount of $858,999.
Predicted Price Range
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $8.0 to $12.0 for Snap over the recent three months.
Insights into Volume & Open Interest
Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Snap's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Snap's substantial trades, within a strike price spectrum from $8.0 to $12.0 over the preceding 30 days.
Snap Call and Put Volume: 30-Day Overview
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| SNAP | CALL | SWEEP | BULLISH | 09/19/25 | $0.81 | $0.8 | $0.8 | $11.00 | $396.0K | 8.1K | 5.0K |
| SNAP | PUT | SWEEP | BEARISH | 08/15/25 | $1.04 | $1.03 | $1.04 | $10.00 | $331.2K | 1.0K | 6.0K |
| SNAP | CALL | SWEEP | BULLISH | 09/19/25 | $0.54 | $0.52 | $0.54 | $12.00 | $216.0K | 16.7K | 13 |
| SNAP | PUT | SWEEP | BEARISH | 08/15/25 | $1.02 | $1.0 | $1.01 | $10.00 | $116.3K | 1.0K | 1.1K |
| SNAP | PUT | SWEEP | BEARISH | 08/15/25 | $1.04 | $1.02 | $1.03 | $10.00 | $85.1K | 1.0K | 2.8K |
About Snap
Snap is a technology company best known for its marquis social media application Snapchat, a visual messaging application that has amassed hundreds of millions of users. The app was initially only used to communicate with family and friends through photographs and short videos (known as "Snaps"). Users can now enjoy augmented reality, or AR, lenses, content from famous creators and celebrities, updates about local events, and more. Although the app offers a paid subscription option with premium features, advertising sales produce most of the app's revenue. The firm also sells wearable devices called AR Spectacles, which can capture photos and videos overlayed with AR lenses, but these make up a small portion of Snap's overall sales.
In light of the recent options history for Snap, it's now appropriate to focus on the company itself. We aim to explore its current performance.
Present Market Standing of Snap
- Currently trading with a volume of 12,157,926, the SNAP's price is up by 0.5%, now at $9.96.
- RSI readings suggest the stock is currently may be overbought.
- Anticipated earnings release is in 18 days.
Expert Opinions on Snap
Over the past month, 3 industry analysts have shared their insights on this stock, proposing an average target price of $10.33.
Unusual Options Activity Detected: Smart Money on the Move
Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. Click here for access. * An analyst from UBS has decided to maintain their Neutral rating on Snap, which currently sits at a price target of $10. * Consistent in their evaluation, an analyst from Wells Fargo keeps a Equal-Weight rating on Snap with a target price of $11. * Maintaining their stance, an analyst from TD Cowen continues to hold a Hold rating for Snap, targeting a price of $10.
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Snap with Benzinga Pro for real-time alerts.
Latest Ratings for SNAP
| Date | Firm | Action | From | To |
|---|---|---|---|---|
| Jul 2025 | UBS | Maintains | Neutral | Neutral |
| Jul 2025 | TD Cowen | Maintains | Hold | Hold |
| Jul 2025 | Wells Fargo | Maintains | Equal-Weight | Equal-Weight |
View More Analyst Ratings for SNAP
View the Latest Analyst Ratings
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
