Too late! (What I mean is, I am already in the (m)nq long, so no worries. Work it Dest, make the monies!)
Lots of juice in those SNAP options. The earnings report is Thursday PM. I'm gonna say a respectable bottom line beat, but a huge top line yoy beat. Its interesting though, the open interest across all the strikes is pretty low in comparison to their previous earnings reports. They usually stay within the straddle. I wonder if this time will be different, to the upside. Yesterday had the top at $80. 52 week high is $83. I think their time has come. $90?
Busted that straddle though didn't it? I'll tell ya what, if SNAP can't meet their own revenue estimates, AND blame it on the friggin' supply chain... watch what happens when the rest of these high-flyers with no earnings that trade at 25X sales and beyond report. Did you buy any of that Trump stock D?
Supply chain? they couldn’t get enough electrons from China? The office had a tough time sourcing staplers so productivity of their programmers fell?
lol.... yeah I know. It was still a great report, but of course CNBC will sensationalize whatever they want to cherry-pick out of it. Solid growth, the numbers looked good. I'd buy the dip on this one. See if you can steal some below $55 if it drops out of the gate.