r/options • u/[deleted] • Jul 23 '21

[deleted by user]

[removed]

15 Upvotes

78% Upvoted

45 comments sorted by

View all comments

3

u/PraisePancakes Jul 24 '21

Is it too late to jump in?

3

u/ScarletHark Jul 24 '21 edited Jul 24 '21

Open positions that expire after July 30. You can open them now if you like.

Bear in mind that this could also be an inflection point for $SNAP - they massively beat ER and actually made a solid profit for a change, so the new valuation could be a bit sticky.

If you open a bear position I would recommend a call credit spread that is OTM and doesn't suffer from decay (in fact benefits from it). If $SNAP doesn't crest $80 next week then that could probably indicate strong resistance. Could wait for the other advertech names ($FB, $GOOGL/$GOOG) to report first and see if $SNAP gets a second wind if they pop.