Bearish flow noted in Reddit Inc with 5,502 puts trading, or 2x expected. Most active are 11/1 weekly 75 puts and Oct-24 80 calls, with total volume in those strikes near 3,800 contracts. The Put/Call Ratio is 1.69, while ATM IV is up over 3 points on the day. Earnings are expected on October 29th.
Don't Miss our Black Friday Offers:
- Unlock your investing potential with TipRanks Premium - Now At 40% OFF!
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on RDDT:
- StockTok: Judge rules Meta must face attorneys general lawsuit
- UK study finds teenage social media usage linked to anxiety, depression, FT says
- Reddit price target raised to $68 from $60 at Goldman Sachs
- Buy/Sell: Wall Street’s top 10 stock calls this week
- Reddit price target raised to $80 from $70 at Raymond James