The biggest action in the options market this past week occurred in Snap (SNAP). The social media/video sharing company has become the best-in-class in the industry after posting outstanding growth and earnings numbers this past week.
The company is seeing big time ad dollars coming in, as users became increasingly active over the pandemic period of less in-person communication. It looks like a investor recently bought a significant amount of SNAP shares while hedging the purchase with January 2022 puts.
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