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SNAP Options

Communication Services International/Growth Live Data Updated 2025-12-30

SNAP Options

Snap Inc. Options Chain, Implied Volatility & Greeks

Comprehensive options market data for Snap Inc. (SNAP). Explore implied volatility patterns, options chain liquidity, gamma exposure levels for the Snapchat social media platform.

Dashboard SNAP GEX Levels IV Analytics Options Flow

SNAP Options at a Glance

Daily Volume: 150K+ contracts

Bid-Ask Spread: $0.01 - $0.03 ATM

Open Interest: 2M+ contracts

IV Range: 45% - 120%

Expirations: Weekly, Monthly, LEAPS

Next Earnings: February 2025

What's Covered in This Guide

1 Company & Market Overview 2 Options Market Data 3 Volatility Profile 4 Common Strategies

Daily Volume

150K+ contracts

Open Interest

2M+

ATM Spread

$0.01-0.03

IV Range

45-120%

Earnings Move

15-25% typical

Focus

Ad Revenue/User Growth

1 About Snap Inc. (SNAP)

Snap Inc. operates Snapchat, a visual messaging app popular with younger demographics. The company generates revenue primarily through digital advertising and is known for AR innovation. Snap has faced challenges competing with Meta's Instagram and TikTok.

Company Profile

Sector Communication Services

Industry Internet Content

Market Cap $20B+ (highly variable)

Exchange NYSE

Key Dates

Next Earnings February 2025

Earnings Frequency Quarterly

Dividend Schedule None

Fiscal Year End December

Snapchat maintains strong engagement with Gen Z users but struggles with profitability and competition from Instagram and TikTok.

2 SNAP Options Market Overview

SNAP options are highly liquid with strong retail interest. Volume spikes around earnings as ad revenue guidance creates large moves.

Average Daily Volume 150K+ contracts

Total Open Interest 2M+ contracts

Put/Call Ratio 0.60 - 0.95 typical

Typical ATM Spread $0.01 - $0.03 ATM

Weekly Options Available

LEAPS Available Yes

Liquidity Assessment: Excellent

SNAP options are very liquid. Low stock price makes them accessible to retail.

3 SNAP Volatility Profile

SNAP implied volatility is elevated due to ad revenue volatility and competitive pressures. Earnings can move the stock 20%+ in either direction.

Low IV Environment

45% - 60%

Below average volatility

Typical IV Range

60% - 80%

Normal conditions

Elevated IV

80% - 120%

Above average volatility

Earnings Impact

IV surges before earnings. Ad revenue guidance and user metrics create massive post-earnings moves.

Historical Volatility vs IV

IV justified by realized volatility - SNAP regularly makes outsized moves.

Term Structure

Steep into earnings expirations. Significant term structure kinks.

View SNAP IV Analytics

SNAP Gamma Exposure (GEX)

Gamma Exposure analysis for SNAP shows retail-dominated positioning with earnings focus.

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Typical GEX Profile: SNAP gamma swings dramatically around earnings as traders position for moves.

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Key Levels: Dollar strikes attract heavy retail positioning.

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Dealer Hedging: Dealer hedging is active given earnings volatility and retail interest.

View Live SNAP GEX

4 Common SNAP Options Strategies

These are strategies commonly used by traders on SNAP options, based on typical market characteristics. This is not investment advice.

Earnings Straddles Volatility

SNAP earnings create massive moves. Straddles capture directional uncertainty.

Vertical Spreads Directional

Define risk on earnings bets. Essential for managing high IV costs.

Iron Condors Neutral

Post-earnings IV crush plays. Collect premium after big moves.

LEAPS Calls Long-Term

Long-term bet on SNAP turnaround and AR innovation.

Cash-Secured Puts Income

Collect elevated premium. Low stock price means manageable assignment.

Explore All Options Strategies

Key Considerations for SNAP Options

SNAP earnings are extremely volatile - 20%+ moves are common
Ad revenue is highly sensitive to digital advertising market
Competition from TikTok and Instagram is intense
AR (augmented reality) innovation is a long-term differentiator
Younger demographic focus limits addressable market
Profitability has been elusive - path to positive cash flow uncertain

Frequently Asked Questions: SNAP Options

How liquid are SNAP options?

SNAP options are very liquid with average daily volume exceeding 150,000 contracts and penny-wide spreads.

What is SNAP's typical implied volatility?

SNAP implied volatility typically ranges from 45% to 120%. Normal conditions see IV between 60-80%, with significant spikes before earnings.

How much does SNAP move on earnings?

SNAP is known for large earnings moves, typically 15-25%. The stock has moved 30%+ on particularly surprising results.

What drives SNAP stock price?

Ad revenue guidance, daily active users, and ARPU (average revenue per user) are the key drivers. Competition with TikTok and Instagram also impacts sentiment.

When does SNAP report earnings?

SNAP reports quarterly in February, May, August, and November.

What is the best time to trade SNAP options?

The most liquid trading hours for SNAP options are typically during regular market hours (9:30 AM - 4:00 PM ET), with highest volume around market open and close.

How do I calculate SNAP option Greeks?

Use our free Options Calculator or Greeks Heatmap tool to calculate delta, gamma, theta, vega and other Greeks for SNAP options across all strikes and expirations.

What happens to SNAP options at expiration?

In-the-money SNAP options are typically auto-exercised at expiration. Out-of-the-money options expire worthless. Consider closing positions before expiration to avoid assignment risk.