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Options traders are betting on a continued surge in Snap Inc. shares, with Monday's trading volume for the stock's options exceeding four times the month-long average.
The activity follows a nearly 20% gain in Snap shares this month, as market attention shifts toward the artificial intelligence agent from social media rival Meta Platforms.
Data from Cboe LiveVol indicates that almost 140,000 Snap options traded on Monday. Of this total, approximately 64,000 call trades were likely initiated by buyers, compared to under 7,000 puts.
Sellers participated in more than 12,000 put trades and just over 34,000 call trades. Barchart reports that both the net trade sentiment and the net directional bias, measured by options deltas, were positive.
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