Snap Inc. shares are up almost 20% this month and have traded under $10 since July 2025, after falling from over $80 in 2021 to a low of $3.81 in April. Amid excitement over Meta Platforms' AI agent, options volume on Monday rose to more than four times the month-long average, with almost 140,000 contracts traded, including about 64,000 calls likely initiated by buyers versus under 7,000 puts. The most-traded contract was the 8-strike call expiring Dec. 18, which costs about 37 cents and needs a 30% rally before expiry to pay off. Shareholder Blue Duck Capital urged Snap's board in an open letter to raise dedicated capital for its Specs AR glasses, a move it said could lead to a $12-$14 share price.
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