Moderately bullish activity in Snap Inc. (SNAP), with shares down 8c near $7.12. Options volume relatively light with 37k contracts traded and calls leading puts for a put/call ratio of 0.29, compared to a typical level near 0.41. Implied volatility (IV30) is higher by 0.9 points near 44.84,in the lowest 10% of observations over the past year, suggesting an expected daily move of $0.20. Put-call skew flattened, suggesting a modestly bullish tone.
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