Reddit's Options Frenzy: What You Need to Know
Whales with a lot of money to spend have taken a noticeably bullish stance on Reddit.
Looking at options history for Reddit RDDT we detected 55 trades.
If we consider the specifics of each trade, it is accurate to state that 47% of the investors opened trades with bullish expectations and 32% with bearish.
From the overall spotted trades, 34 are puts, for a total amount of $2,097,702 and 21, calls, for a total amount of $3,901,823.
Projected Price Targets
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $70.0 to $230.0 for Reddit over the recent three months.
Volume & Open Interest Development
In terms of liquidity and interest, the mean open interest for Reddit options trades today is 256.69 with a total volume of 3,095.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Reddit’s big money trades within a strike price range of $70.0 to $230.0 over the last 30 days.
Reddit 30-Day Option Volume & Interest Snapshot
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| RDDT | CALL | TRADE | NEUTRAL | 01/15/27 | $56.5 | $51.5 | $54.3 | $145.00 | $2.7M | 47 | 500 |
| RDDT | PUT | SWEEP | NEUTRAL | 01/16/26 | $106.95 | $104.75 | $104.75 | $230.00 | $220.1K | 19 | 22 |
| RDDT | CALL | SWEEP | BULLISH | 01/16/26 | $75.75 | $74.85 | $75.75 | $72.50 | $189.2K | 41 | 32 |
| RDDT | PUT | SWEEP | BULLISH | 01/16/26 | $106.55 | $104.8 | $104.8 | $230.00 | $125.7K | 19 | 44 |
| RDDT | CALL | SWEEP | BULLISH | 12/06/24 | $6.8 | $6.6 | $6.8 | $135.00 | $111.5K | 602 | 501 |
About Reddit
Reddit Inc is engaged in providing internet content. The company provides online services that include gaming, sports, business, crypto, television and others.
Following our analysis of the options activities associated with Reddit, we pivot to a closer look at the company’s own performance.
Present Market Standing of Reddit
- Currently trading with a volume of 3,316,883, the RDDT’s price is up by 1.51%, now at $137.65.
- RSI readings suggest the stock is currently may be approaching overbought.
- Anticipated earnings release is in 118 days.
What The Experts Say On Reddit
In the last month, 5 experts released ratings on this stock with an average target price of $114.4.
Unusual Options Activity Detected: Smart Money on the Move
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* Reflecting concerns, an analyst from Piper Sandler lowers its rating to Overweight with a new price target of $115.
* Maintaining their stance, an analyst from Citigroup continues to hold a Buy rating for Reddit, targeting a price of $120.
* An analyst from B of A Securities persists with their Neutral rating on Reddit, maintaining a target price of $99.
* Consistent in their evaluation, an analyst from JMP Securities keeps a Market Outperform rating on Reddit with a target price of $118.
* An analyst from Loop Capital persists with their Buy rating on Reddit, maintaining a target price of $120.
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Reddit with Benzinga Pro for real-time alerts.
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