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?

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VisualMod t1_j6oi438 wrote

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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.

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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.

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Local-Rip2131 t1_j6ojsn5 wrote

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

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caseygroovy t1_j6onke6 wrote

Hopefully puts print, I just got wrecked on UPS puts

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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.

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Mikexixixi t1_j6owgaw wrote

Snap has been short we need to buy more support snap!

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Bhalskar OP t1_j6oxvwd wrote

Replying to ehren123 (#1,683,443)

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

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Bhalskar OP t1_j6p14ak wrote

Replying to ehren123 (#1,684,640)

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

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Putmilk404 t1_j6pdvq5 wrote

Do one with AMZN O-wise one please.

Best, Fellow Regard.

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Bhalskar OP t1_j6pejgh wrote

Replying to Putmilk404 (#1,690,494)

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

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