Unusual Options Activity: Snapchat (SNAP)

  • Free: 7 High Yield Dividend Stocks to Buy Now
  • Traders bet on rise in social media company.

  • Special: This Market is Growing at the Fastest Rate Since 2006
  • A bullish bet is being made that shares of Snapchat (SNAP) will continue to rally in the next few weeks.

    On Thursday, over 11,700 contracts of the July 12th $15.50 call options contracts had been traded, against an open interest of 106, representing a 110-fold surge in volume. This bet, with shares currently at $14.70, implies that shares will rally by at least 5.4 percent in the next month.

    • The Time to Invest in 5G Is NOW

      Happy Woman Holding Phone AT&T has just become the first carrier to offer 5G coverage.

      Sprint's 5G network is live in Phoenix, New York City, Washington, D.C., and Los Angeles.

      T-Mobile has flipped the 5G switch in six cities...

      And Verizon has launched its 5G network in 13 cities.

      Nearly a decade in the making, 5G is finally here...

      And just ONE stock is your No. 1 chance to profit from the 5G revolution.

      Details HERE...

    Shares of the social media giant have been rallying in recent weeks along with the rest of the market. Shares hit a 52-week high of $15 per share in trading on Thursday. Operationally, the company has struggled in the past year amidst a slowdown in user growth, but has been working on ways to increase user time on the Snap app.

    Action to take: With the contracts trading around $0.38, this is an inexpensive bet on Snapchat shares heading higher—and an inexpensive trade to bet on an overall market rally as well.

  • Special: FREE – The 11 EV Stocks You Need in Your Arsenal
  • It could easily double in price, although if shares of Snapchat fail to clear the strike price of $15.50, the option will go to zero. With only 22 days left to expiration, however, traders may want to pay a bit more to get a January 2020 or later option to follow this trade.