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- Apr 4, 2008
Honestly there’s not enough volatility in snap for a short term play. It’s gonna chop around here unless they have a dreadful earnings. I could see it maybe tanking to 8 or 7 but it’ll hover around 10 for the most part.
I’m tempted to do a little risk reversal in snap eventually. Sell the Jan 21 7-5 Put spread to buy the jan 21 10 call. Would cost 200. I have to do the math on how much credit you’d get from the put spread to figure out the overall risk. Might be a cheaper option than buying the call outright but if the risk is greater than 300 it’s not worth it.
I’m tempted to do a little risk reversal in snap eventually. Sell the Jan 21 7-5 Put spread to buy the jan 21 10 call. Would cost 200. I have to do the math on how much credit you’d get from the put spread to figure out the overall risk. Might be a cheaper option than buying the call outright but if the risk is greater than 300 it’s not worth it.