Moderately bullish activity in Snap Inc. (SNAP), with shares up 16c, or 2.2%, near $7.21. Options volume roughly in line with average with 103k contracts traded and calls leading puts for a put/call ratio of 0.32, compared to a typical level near 0.41. Implied volatility (IV30) dropped 3.16 near 43.93,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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