On CNBC's
"Options Action," Dan Nathan spoke about unusually high options activity in Snap Inc (NYSE: SNAP). He said the call options volume was five times the average
daily volume and 3 times that of puts.
See Also: Analyst Optimism
Pushes Snap Shares Higher
When the stock was trading around $11, Nathan noticed a purchase of 6,500 contracts of the October 11 calls for $1.85. The trade
breaks even at $12.85 on October expiration or 13.92 percent higher from the closing price on Thursday.
© 2019 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.