If you haven`t sold SNAP here: nor bought the dip before the previous earnings:
Then analyzing the options chain and the chart patterns of SNAP prior to the earnings report this week, I would consider purchasing the 15usd strike price Puts with an expiration date of 2025-1-17, for a premium of approximately $2.62. If these options prove to be profitable prior to the earnings release, I would sell at least half of them.
Trade closed: target reached
SNAP traded at $10.93 after earnings, and the Puts went up from $2.62 (when I wrote this article) to $4.95 at the close today (a lot higher intraday), for about 90% gain!
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