Reddit Options Traders Bet Big With $2.93M Call at $280 Strike as RDDT Slides Near 52-Week Lows

By TrendSpider Editor

Two unusual options contracts totaling $2,977,590 in premium have surfaced on Reddit, Inc. (RDDT), with the dominant trade being a massive $2,931,250 call targeting a $280 strike expiring in June 2028, suggesting at least one large player is positioning for a significant long-term recovery. RDDT is

Reddit Options Traders Bet Big With $2.93M Call at $280 Strike as RDDT Slides Near 52-Week Lows

Two unusual options contracts totaling $2,977,590 in premium have surfaced on Reddit, Inc. (RDDT), with the dominant trade being a massive $2,931,250 call targeting a $280 strike expiring in June 2028, suggesting at least one large player is positioning for a significant long-term recovery. RDDT is currently trading at $150.33, down 1.95% on the session, and sits closer to its 52-week low of $119.27 than its 52-week high of $263.50. The contrast between the stock's depressed price and the aggressive upside target embedded in the larger contract makes this options activity worth watching closely.

Key Drivers of the RDDT Stock Move

• Main Catalyst: Two unusual options contracts were flagged today with a combined premium of $2,977,590. The standout trade is a call at the $280 strike expiring June 16, 2028, with a size of 1,250 contracts and an open interest ratio of just 17%, indicating this is largely fresh positioning rather than a roll of existing exposure. A second call at the $147 strike expiring November 20, 2026 printed with a size of 28 contracts and an OI ratio of 1,000%, meaning volume dramatically exceeded existing open interest.
• Bull Case: The $2,931,250 call at $280 represents a bet on RDDT nearly doubling from current levels within roughly 20 months. The scale of the premium commitment signals conviction, and the in-the-money $147 call with a 1,000% OI ratio suggests unusual near-term urgency around a strike just below the current price of $150.33.
• Bear Case: RDDT is down 1.95% today and trades roughly 43% below its 52-week high of $263.50. The $280 call is deeply out of the money relative to the current price of $150.33, meaning this trade requires an extraordinary move to become profitable. Options activity alone does not reverse a downtrend, and the stock's proximity to its 52-week low of $119.27 reflects ongoing selling pressure.

The forward setup for RDDT is a tale of two timeframes. In the near term, the stock is under pressure and trading in the lower portion of its annual range, with the $119.27 52-week low acting as a critical support level to watch. Over the longer term, the June 2028 call at $280 implies that at least one institutional or well-capitalized player sees a path back toward the highs and beyond. Reddit continues to develop its advertising business and AI data licensing partnerships, themes that have driven previous rallies. Whether those catalysts are enough to close the roughly 86% gap between the current price and the $280 strike before mid-2028 remains the central question for bulls sizing up this trade.

RDDT Unusual Options Activity

• Contract 1: Call | Strike: $147 | Expiry: November 20, 2026 | Volume: 28 | Open Interest Ratio: 1,000% | Status: In the Money
• Contract 2: Call | Strike: $280 | Expiry: June 16, 2028 | Volume: 1,250 | Open Interest Ratio: 17% | Status: Out of the Money

Both contracts are calls, with zero puts flagged, reflecting a purely bullish directional lean in today's unusual flow. The total premium across both contracts is $2,977,590, with the $280 strike June 2028 call accounting for the overwhelming majority at $2,931,250.

RDDT Seasonality

Late October has historically been a transitional period for growth and social media stocks, often setting the tone for year-end positioning as investors digest third-quarter earnings results and reset expectations. A large long-dated call initiated in this window could reflect a strategic accumulation ahead of anticipated catalysts in the coming quarters.

RDDT Relative Performance

RDDT is down 1.95% today, underperforming on the session and trading at $150.33, which represents a significant discount of approximately 43% from its 52-week high of $263.50. With the 52-week low sitting at $119.27, the stock has roughly $31 of downside to its annual floor versus over $113 of upside to its annual peak, a risk/reward profile that likely underpins the bullish options positioning seen today.