A massive trade just happened in surging shares of Snap — SkimNews
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- Snap shares climbed almost 20% this month, recovering from a low of $3.81 in April after a collapse from over $80 at the stock's 2021 high, and have traded under $10 since July 2025.
- Options traders drove roughly 140,000 Snap contracts to trade on Monday — four times the month-long average — with about 64,000 of those being call trades likely initiated by buyers, per Cboe LiveVol data.
- Call options dominated activity, capturing $5 million of the $5.5 million in premium exchanged, and the most popular contract — the 8-strike December 18 call — traded 26,000 times at roughly 37 cents per share.
- Blue Duck Capital issued an open letter to Snap's board last week urging the company to raise dedicated capital for its AR "Specs" glasses, arguing the move could lift shares to $12–$14.
- Meta Platforms' AI agent momentum is cited as the catalyst behind Monday's Snap options rush, as traders bet the social media rally spills over from the sector leader.
Why it matters: The most-traded 8-strike December 18 call needs Snap to rally 30% before expiry to break even, putting the contract's profit zone near the stock's February high. Blue Duck Capital's $12–$14 target — nearly double Snap's current sub-$10 price — hinges on the company funding its AR "Specs" glasses, giving options traders a concrete upside scenario rather than pure momentum-chasing.
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