Mixed options sentiment in Snap Inc. (SNAP), with shares down 4c near $6.01. Options volume relatively light with 17k contracts traded and calls leading puts for a put/call ratio of 0.29, compared to a typical level near 0.2. Implied volatility (IV30) is higher by 1.3 points near 92.93, in the highest 10% of observations over the past year, suggesting an expected daily move of $0.35. Put-call skew steepened, indicating increased demand for downside protection, 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 15.18% or $0.91.
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