Call Options on SNAP on 5/3/2021

Snap Inc. (SNAP) operates as a camera company in the United States and internationally.

The company offers Snapchat, a camera application with functionalities, such as Camera, Communication, Snap Map, Stories, and Spotlight that enable people to communicate through short videos and images. It also provides Spectacles, an eyewear product that connects with Snapchat and captures video from a human perspective; and advertising products, including AR and Snap ads.

The company was formerly known as Snapchat, Inc. and changed its name to Snap Inc. in September 2016. Snap Inc. was founded in 2010 and is headquartered in Santa Monica, California.

Snap Inc. reported a 1st Quarter March 2021 loss of $0.03 per share on revenue of $769.6 million. The consensus estimate was a loss of $0.05 per share on revenue of $742.0 million. Revenue grew 66.4% on a year-over-year basis.

The company said it expects second quarter revenue of $820.0 million to $840.0 million. The current consensus revenue estimate is $821.01 million for the quarter ending June 30, 2021.

Despite missing on its earning report last week, the stock's chart has recently formed an "upward trading channel" formation, signaling shares should be moving higher.

We will be trading May 21st Call Options

Entry Point: $61.82

Trading Range: $16.42 - $73.59

Trade Buy 1 May $61.00 Call at $3.55 For a net debit of $3.55 Profit/Loss Analysis Breakeven at $64.55 Maximum profit is unbounded Maximum loss is ($355.00) at strike of $61.00 Closing Summary Sold 1 May $61.00 Call at $0.00

Position closed on 5/21/2021 at price of $0.00 with a -100.00% loss in 18 days.

Updates

5/21/2021 10:50:33 AM

SNAP $61 Call closed at 0.0

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