Bearish flow noted in Reddit Inc with 4,089 puts trading, or 1.1x expected. Most active are 8/9 weekly 55 puts and 8/2 weekly 55 puts, with total volume in those strikes near 3,100 contracts. The Put/Call Ratio is 1.68, while ATM IV is up nearly 2 points on the day. Earnings are expected on August 6th.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on RDDT:
- Reddit price target raised to $67 from $61 at Roth MKM
- #SocialStocks: Trump comes out in support of TikTok, cites competition
- Reddit Inc put volume heavy and directionally bearish
- Reddit price target raised to $70 from $63 at Morgan Stanley
- Reddit (NYSE:RDDT) Surges amid New Deals with Sports Leagues