Trade of the Week: SNAP

Trade of the Week

Snap (SNAP), parent company of popular social media app Snapchat, posted fairly brutal earnings last week. Concerns over future revenues sent the share price down 10% the following day. However, the options market showed that at least one trader had a differing opinion. A large block of 20,000 calls were purchased, which don’t expire until 2025. The trade appears to be very bullish and suggests SNAP may have a chance to turn things around in the coming months.

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