iBankCoin
The first hit is always on the house.
Joined Aug 2, 2009
1,784 Blog Posts

I DID IT. I BOUGHT $SNAP.

The propeller hat kids, aka “odd lot gang” are 70% bearish on this stock. Game.on.

I absolutely LOVE how its drifted lower. That to me suggests more of a lack of interest over the last couple weeks more than anything else.

I booked my $SNAP puts today as it broke through $20 and bet the farm on April and next week calls.

I like the break into the teens as a psychological negative. I love that it closed under $20.

I love that guys like Tepper and Cramer say they’ll buy this at IPO price. Those that are waiting will look at that number as a safety net. But what if it doesn’t get there?

This stock is ripe for a chase. Tomorrow’s a spot to get involved.

***UPDATE***

STOCKTWIT STEVE DIDN’T LIKE MY IDEA. THESE ARE FANTASTIC CONFIRMS.

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31 comments

  1. dragun

    had a feeling you would act today given the price action

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    • joyous__ending

      OA makes gutsy moves, likely pays off 10-15% in the stock.
      It’s too early for SNAP to die, it will die in 2018.

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  2. UncleBuccs

    There’s a particular stereotype that selects Mr. Eastwood for the avatar…

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  3. AFlow90

    I got a little over-aggressive and bought both April monthlies and March monthlies…. binary outcome for half that position tomorrow, but I like the odds.

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  4. Gene Minkin

    Does it effect your thinking at all that the volume today was MANY times open interest on many of the calls until April?

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  5. LP

    Followed long at close price. still think it goes to 14 but not before it goes bigger from here.

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  6. Rastgen

    DO U STILL LIKE MESSAGING WITH PICTURES BRO??

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  7. Kraut

    You should tell him you don’t have a mortgage. Boom, roasted. Also, do you no longer have to sign in to comment?

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  8. matt_bear

    I missed this trade today. I agree. I want in.

    So many retailers want $17 or lower. They get denied entry.

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  9. John

    If many on them wait to buy $17, not many buy till $17, means it is going to $17 to find enough buyers, then “sweep the leg” to even lower to flash ?? Interesting to observe.
    I will buy when it happens. If not I am happy to skip this one.

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    • Option Addict

      “If not I am happy to skip this one.”

      No way. I bet you’ll ask me if its cool to jump in when its in the 30’s.

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      • John

        Sounds like me, lol. Still, you do not think any chance it follows FB case, like started 45 went down down, then recovered to break even over one year later? Just wondering.

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        • Option Addict

          This is not at all like Facebook. Zero correlation. This is 100% like TWTR.

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          • John

            Thank you for clarification. You can count me as a typical joe who is bearish to SNAP. I might flip and buy tomorrow morning. Appreciate your thought as always.

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  10. purdy

    SNAP looks like it works its way lower — perhaps to the $15 area. While it looks similar to your awesome entry into BIDU a couple days ago, the rhythm of how it’s tapping the lows has me thinking lower.

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  11. dragun

    SNAP flushing out a bit more here. stalking the 21s for Apr 21

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  12. kamel

    Just bot some SNAP 20’s for today. yolo

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  13. dragun

    Mar 17 21s and Apr 21 21s .. I’m in lets go

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  14. doubleplus

    Love the idea, Jeff. Sold puts after the open, in for Apr 21s and 22s.

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  15. heckler

    Hey OA – did you sell your LVS yet?

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