SNAP yolo?

Submitted by Bhalskar t3_10q8q9z in wallstreetbets

I am gonna yolo on snap cause I wanna catch that movement, but I am not sure if I should do calls or puts. My gut says puts because I don't see how they could possibly beat earnings, especially with some of the piss poor numbers and literal sideways movement on how much they made in a year, but I also see the bull case of how much lower can they go [I'd argue very lower, specially considering the juicy drop from last earnings, 10.60 to 7.30 (estimate)]

Dataroma doesn't yield anything crazy buy or sell, a few people inside the company unloaded around 30ish mil last earnings, but only activity this month is 67k, so not a substantial indicator for bad earnings. Could mean that they expect to beat earnings, or at least not see much movement after.

What do you guys think? Calls or puts?

Edit: Puts have been the way to go so far, but the 14 cents per share beat has me worried. Think it will rally before open tomorrow? Or will the crash continue? Obviously I'm praying the drill continues however am concerned about the possible rally due to that

Tldr: Snap should fail earnings but im not sure, anyone got a case for either side? So far puts are treating me nice, think this drop will continue despite the .14 cents per share dub?

7

Comments

You must log in or register to comment.

VisualMod t1_j6oi4te wrote

>I believe that Snap will indeed fail to meet earnings expectations. The company has been underperforming for some time now, and I do not see that changing in the near future. Put options would be a wise choice here.

10

DYTTIGAF t1_j6ojczv wrote

SNAP earning down 400% last reporting period according to Yahoo Finance.

"The trend is your friend...Don't fight the Federal Reserve". Two good pieces of truth to live and trade by in my experience.

9

Bhalskar OP t1_j6okaxp wrote

I like that, appreciate it. Signs definitely point to another fail, puts are probably the play. Saw that someone got some yolo calls, RIP to that poor soul.

2

Local-Rip2131 t1_j6ojsn5 wrote

It's going down!!! You'll see it tank minutes before the earning call

8

ehren123 t1_j6ovdut wrote

This man is a fortune teller

5

Bhalskar OP t1_j6oxhwt wrote

Literally lmaoo, however what do you think about the potential rebound considering the .14 eps beat?

2

ehren123 t1_j6oxl12 wrote

You assume the stock market is rational.

3

Bhalskar OP t1_j6oxvwd wrote

Fair enough, I have seen enough earnings this past week to notice that sometimes the market reacts to earnings the opposite way they logically should. That drop from 11.50 to 10 got me absolutely chubbed out XD

2

ehren123 t1_j6oy28g wrote

Premiums for everything are outrageous this week. Barely got in some good spy pricing. I missed this boat

2

Bhalskar OP t1_j6oybck wrote

Damn, sorry man. Maybe you'll hop aboard for some gains after JPow speaks tomorrow?

2

ehren123 t1_j6p0sx7 wrote

I played calls and puts. I don't care which way it goes as ling is it is volatile haha

2

Bhalskar OP t1_j6p14ak wrote

Lol If I had the capital to do that I would, however I am on WSB therefore I am a regarded ape descendent who would rather have his entire portfolio go tits up just to see some extra gains

2

ehren123 t1_j6p1b3p wrote

I am only playing with 1k. It was 250 at the beginning of the month haha.

2

Bhalskar OP t1_j6p1o9t wrote

Working with 350 right now, have a 500 dollar deposit waiting to go through. Maybe I do have the capital... Oh well tits up or big gains XD the true regard way

2

ehren123 t1_j6p232o wrote

Just have to get lucky with further OTM plays. Or blow it up. One of the 2 will happen lol

1

TheKareemofWheat t1_j6ougt2 wrote

Please tell me you got puts

7

Bhalskar OP t1_j6oxl7n wrote

Yes sir, however the .14 cents eps beat has me worried it will rebound before opening tomorrow

2

caseygroovy t1_j6onke6 wrote

Hopefully puts print, I just got wrecked on UPS puts

4

Bhalskar OP t1_j6onsqi wrote

I hope so, I decided on puts. Not gonna destroy me if I'm wrong but based on the last couple earnings I'm hoping we see that kinda movement, preferably in the negative lol

3

Draiko t1_j6oulto wrote

GUH

3

Bhalskar OP t1_j6oy0ul wrote

Puts have treated me well, no GUH in store for me today, sorry control, I own the narrative now img

1

Draiko t1_j6oybv2 wrote

Oh thank god you did puts!

2

Bhalskar OP t1_j6oyvwz wrote

Praise be my gut and VirtualMods endless wisdom...

3

Putmilk404 t1_j6pdvq5 wrote

Do one with AMZN O-wise one please.

Best, Fellow Regard.

2

Bhalskar OP t1_j6pejgh wrote

I will work on it, however I must say I am no advisor, and as a fellow regard, I understand my chance of 2 strikes in a row as astronomically low XD idk you think AMZN or META moves more? My money was on meta tbh

2

Bhalskar OP t1_j6pfg2e wrote

Regard moment, AMZN is on Thurs META Wed. Guess I can do both lol, why the fuck not full regard train in motion img

2

Putmilk404 t1_j6pgvb5 wrote

No pressure, I will only be betting all of my money. It’ll be in your hands if my kids go to college or not

2

pw7090 t1_j6pi04l wrote

Astronomically low? As in 25%?

1

VisualMod t1_j6oi438 wrote

User Report
Total Submissions 0 First Seen In WSB 6 days ago
Total Comments 8 Previous Best DD
Account Age 2 years [^scan ^comment ](https://www.reddit.com/message/compose/?to=VisualMod&subject=scan_comment&message=Replace%20this%20text%20with%20a%20comment%20ID%20(which%20looks%20like%20h26cq3k)%20to%20have%20the%20bot%20scan%20your%20comment%20and%20correct%20your%20first%20seen%20date.) [^scan ^submission ](https://www.reddit.com/message/compose/?to=VisualMod&subject=scan_submission&message=Replace%20this%20text%20with%20a%20submission%20ID%20(which%20looks%20like%20h26cq3k)%20to%20have%20the%20bot%20scan%20your%20submission%20and%20correct%20your%20first%20seen%20date.)

^^Discord ^^BanBets ^^VoteBot ^^FAQ ^^Leaderboard ^^- ^^Keep_VM_Alive

1

Zero2Hero2MarginCall t1_j6onvwl wrote

Kids are back in school now that Covid lockdowns are done, this can only mean user engagement is increasing exponentially due to swapping nude selfies. That’s what SNAP is right? Yep.

−2