The Half-Million Bet Buried In SNAP's Options Tape

Markets reveal their hierarchy in strange places. Not in earnings calls. Not in analyst price targets. Not even in the headlines that pretend to explain why a stock moved three percent on a Tuesday afternoon.That hierarchy reveals itself in the options tape.Recently, buried among the routine skirmishes around SNAP, a trade appeared that deserves attention. Five thousand contracts of January 2028 ten-dollar calls traded for roughly $1.01.The math is simple. 5,000 contracts. 100 shares each. $1.01 per contrac ...