Spotlight on Reddit: Analyzing the Surge in Options Activity
Financial giants have made a conspicuous bullish move on Reddit. Our analysis of options history for Reddit RDDT revealed 16 unusual trades.
Delving into the details, we found 43% of traders were bullish, while 37% showed bearish tendencies. Out of all the trades we spotted, 2 were puts, with a value of $55,700, and 14 were calls, valued at $748,243.
What’s The Price Target?
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $60.0 to $170.0 for Reddit over the recent three months.
Analyzing 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 Reddit’s options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Reddit’s substantial trades, within a strike price spectrum from $60.0 to $170.0 over the preceding 30 days.
Reddit Option Volume And Open Interest Over Last 30 Days
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| RDDT | CALL | SWEEP | BULLISH | 04/17/25 | $23.6 | $21.15 | $23.0 | $135.00 | $230.0K | 334 | 100 |
| RDDT | CALL | SWEEP | BULLISH | 12/20/24 | $14.35 | $14.3 | $14.33 | $130.00 | $113.2K | 1.6K | 0 |
| RDDT | CALL | TRADE | BEARISH | 01/17/25 | $54.4 | $53.3 | $53.3 | $80.00 | $53.3K | 2.6K | 20 |
| RDDT | CALL | TRADE | BULLISH | 01/16/26 | $59.5 | $58.45 | $59.5 | $95.00 | $47.6K | 208 | 0 |
| RDDT | CALL | TRADE | BULLISH | 01/16/26 | $79.5 | $79.5 | $79.5 | $60.00 | $39.7K | 602 | 3 |
About Reddit
Reddit Inc is engaged in providing internet content. The company provides online services that include gaming, sports, business, crypto, television and others.
After a thorough review of the options trading surrounding Reddit, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Current Position of Reddit
- With a volume of 2,445,583, the price of RDDT is down -2.3% at $134.0.
- RSI indicators hint that the underlying stock may be overbought.
- Next earnings are expected to be released in 125 days.
Professional Analyst Ratings for Reddit
5 market experts have recently issued ratings for this stock, with a consensus target price of $106.0.
Turn $1000 into $1270 in just 20 days?
20-year pro options trader reveals his one-line chart technique that shows when to buy and sell. Copy his trades, which have had averaged a 27% profit every 20 days. Click here for access.
* Maintaining their stance, an analyst from Needham continues to hold a Buy rating for Reddit, targeting a price of $120.
* An analyst from Loop Capital persists with their Buy rating on Reddit, maintaining a target price of $120.
* An analyst from Roth MKM persists with their Buy rating on Reddit, maintaining a target price of $116.
* An analyst from Roth MKM has decided to maintain their Buy rating on Reddit, which currently sits at a price target of $89.
* An analyst from Bernstein persists with their Underperform rating on Reddit, maintaining a target price of $85.
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.
If you want to stay updated on the latest options trades for Reddit, Benzinga Pro gives you real-time options trades alerts.
Market News and Data brought to you by Benzinga APIs
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Leave a Reply