The biggest action in the options market this past week occurred in Snap (SNAP). The social media/video sharing company has become the best-in-class in the industry after posting outstanding growth and earnings numbers this past week.
The company is seeing big-time ad dollars coming in, as users became increasingly active over the pandemic period of less in-person communication. It looks like an investor recently bought a significant amount of SNAP shares while hedging the purchase with January 2022 puts.
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