Then analyzing the options chain of SNAP prior to the earnings report this week, I would consider purchasing the 10usd strike price Puts with an expiration date of 2024-1-19, for a premium of approximately $2.05. If these options prove to be profitable prior to the earnings release, I would sell at least half of them.
I am interested to hear your thoughts on this strategy.
Trade closed: target reached
SNAP trading at $8.41 after earnings. Puts trading at $2.70 from $2.05. About 35% gain so far.
Trade active
I think SNAP will reach 8 usd this week. Puts trading at $3.10, Up 50%
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.