Bullish flow in Snap Inc. with shares up 8.23%

Bullish flow in Snap Inc. (SNAP), with shares up 46c, or 8.23%, near $6.12. Options volume running well above average with 106k contracts traded and calls leading puts for a put/call ratio of 0.3, compared to a typical level near 0.2. Implied volatility (IV30) is higher by 2.8 points near 91.79, in the highest 10% of observations over the past year, suggesting an expected daily move of $0.35. Put-call skew flattened, suggesting a modestly bullish tone, following an upgrade to Buy at Rothschild & Co Redburn.Looking ahead: Snap Inc. (SNAP) will report earnings after the close on 2026-05-06.Option markets are pricing in a 50% probability of a move greater than 15.73% or $0.96.