Susquehanna options strategists Alison Edwards notes continued put buying in Snap (NYSE: SNAP) ahead of the company's earnings announcement after the market close today, as investors bought ~6000 May12 20 Puts, as well as ~5000 May12 20.5 & 21 strike Puts, while opening investors also bought 7,000 May 20.5 Puts.

Options Trader Talk

Options Activity in Snap (SNAP) Targets $18 as Potential Near-Term Floor -SusquehannaMay 12, 2017 2:19 PM Drexel Hamilton Reiterates Buy Rating and $30 PT on Snap (SNAP) Following 1Q Report; 'Excellent Buying Opportunity' May 12, 2017 8:06 AM Snap Inc (SNAP) PT Lowered to $23 at Deutsche Bank on 1Q Report; 'DAU Upside Ghosted... Results Fail to Inspire'May 11, 2017 10:22 AM Snap (SNAP): Investor Expectations Edge Higher into Earnings, as Traders Look to Fade Any Move Higher Ahead of July 29th Lockup -Odeon May 10, 2017 2:56 PM Snap (SNAP) call put ratio 1.2 calls to 1 put into Q1 EPS and outlookMay 10, 2017 1:36 PM Stocks with increasing unusual option volume: EA SNAP TRIP YELP KAR NCLH NYRT PETS May 10, 2017 9:50 AM Snap's first earnings to shed light on battle with Facebook, TwitterMay 10, 2017 9:26 AM Snap (SNAP) option implied volatility increases into Q1 EPSMay 10, 2017 5:21 AM Stocks with Implied Volatility MovementMay 10, 2017 5:01 AM Investors Increase Downside Protection in Snap (SNAP) Ahead of 1st Earnings Report Tomorrow AMC -SusquehannaMay 9, 2017 2:25 PM Snap (SNAP) call put ratio 1 call to 2.1 puts into Q1 EPS and outlookMay 9, 2017 11:55 AM Stocks with Implied Volatility MovementMay 9, 2017 5:04 AM What’s trading: SNAP BABA KATE JCP MU IBM T MU JD VRX May 8, 2017 9:53 AM Stocks with Implied Volatility MovementMay 8, 2017 5:00 AM