Snap Options Volume Jumps Fourfold as Traders Position for Further Equity Rebound

Options trading in Snap Inc. surged on Monday to more than four times the month-long daily average, driven by heavy buying of bullish call contracts following a nearly 20% rise in the company's stock price this month, according to a report from CNBC Business (https://www.cnbc.com/2026/10/12/a-massive-trade-just-happens-in-surging-shares-of-snap.html).

The influx of derivative bets comes after an extended downturn for the Snapchat parent company. Snap shares have remained below $10 since July 2025, falling from an all-time peak above $80 in 2021 to a low of $3.81 in April. Market interest in social platform equities has recently picked up alongside industry excitement surrounding Meta Platforms' AI agent.

Data from Cboe LiveVol shows that nearly 140,000 options contracts changed hands on Monday. That volume included approximately 64,000 call trades likely initiated by buyers, compared to fewer than 7,000 puts. Traders also sold more than 34,000 calls and over 12,000 puts. Analytics provider Barchart reported that net trade sentiment and net directional bias based on options deltas were positive.

SpotGamma data indicated that of the $5.5 million in total options premium exchanged during the session, $5 million went into call contracts, with nine of the top 10 trades by volume being calls. The most actively traded contract was the 8-strike call expiring December 18, which traded 26,000 times. Priced at roughly 37 cents, the contract requires Snap shares to rise 30% before expiration to become profitable—a level that would mark the stock's highest price since February.

The trading surge also follows corporate pressure from shareholder Blue Duck Capital, which sent an open letter to Snap's board of directors last week. The firm urged Snap to raise dedicated capital to support its augmented-reality "Specs" glasses, asserting that targeted investment in the hardware line could push the stock to between $12 and $14 per share.