Moderately bullish activity in Snap Inc. with shares down 0.74%

Moderately bullish activity in Snap Inc. (SNAP), with shares down 4c near $6.05. Options volume more than double the daily average with 111k contracts traded and calls leading puts for a put/call ratio of 0.33, compared to a typical level near 0.35. Implied volatility (IV30) is higher by 2.1 points near 86.63,and above the 52wk median, suggesting an expected daily move of $0.33. Put-call skew flattened, suggesting a modestly bullish tone.The company will report earnings after the close today. Option markets are pricing in a 50% probability of a move greater than 19.15% or $1.16.