Moderately bullish activity in Snap Inc. (SNAP), with shares down 26c near $8.26. Options volume running well above average with 344k contracts traded and calls leading puts for a put/call ratio of 0.83, compared to a typical level near 0.24. Implied volatility (IV30) is higher by 2.0 points near 104.14, in the highest 10% of observations over the past year, suggesting an expected daily move of $0.54. Put-call skew flattened, suggesting a modestly bullish tone.
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