SNAP

[ironchef]

I recalled the same after the FB IPO. FB was not profitable at IPO.

 

[Albert A. Sanchez]

Snap initiated by Piper Jaffray Companies at neutral.

 

[vanzandt]

$19 Calls for $1
Should work well this week.

$3.75 now 4 days later.
But Zzzz1 says this call doesn't count.
I didn't use a stop.

 

[vanzandt]

Short into the close.

 

[Jamie J.]

I thought it could not be. But SNAP looks valuable again. I can not wait to see what will happen tomorrow.

 

[Stymie]

$3.75 now 4 days later.
But Zzzz1 says this call doesn't count.
I didn't use a stop.

This is the beauty of going long options and the death of short premium sellers! There is no need for a stop due to limited loss of option so when SNAP dropped below 20, there is no squeeze for a loss and lost opportunity when it rebounds. This is why vols wont go to zero with all the short premium sellers cause others are making good money get long against them. Well done!

 

[FSU]

Great calls Vanzandt. I believe you got the top and bottom perfectly.

Even if you didn't know the direction SNAP was going like Vanzandt, just buying the straddle was a nice winner. Just amazed how cheap they priced the options on this one.

 

[Albert A. Sanchez]

media presenting a negative tone, but SNAP breaking out. those on the sidelines will now chase, fueling the next leg

 

[Lloyd W. Coutee]

with a majority here bearish. I bet it rips. Big money controlling this. Look at twtr and baba after ipo. double before it plummets

 

[Michael J. Fletcher]

Do you think SNAP is more innovative than FB?