Mixed options sentiment in Snap Inc. (SNAP), with shares up 16c, or 2.13%, near $7.91. Options volume relatively light with 58k contracts traded and calls leading puts for a put/call ratio of 0.21, compared to a typical level near 0.34. Implied volatility (IV30) dropped 0.73 near 90.84,in the top quartile of the past year, suggesting an expected daily move of $0.45. Put-call skew steepened, indicating increased demand for downside protection, following a downgrade to Neutral at New Street.Looking ahead: Snap Inc. (SNAP) will report earnings after the close on 2025-11-05.Option markets are pricing in a 50% probability of a move greater than 17.33% or $1.37.
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