Trade of the Week: SNAP

Options, Social Media, Videos

We saw some unusually heavy option volume in Snap (SNAP) last week, with nearly 2x the average amount trading on a big up day in the stock. SNAP is the owner of Snapchat, a very popular social media platform. Some negative news on Facebook sent that social media stock down, and SNAP may have been the beneficiary of some of those exiting. A massive 20,000 in-the-money call trade in SNAP could be a sign that a large player is very bullish on the stock. The January call purchase cost $28 million in premiums.

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