Monday, September 5, 2022 7:35 AM EDT
Snap (SNAP) is a popular social media company that has struggled in recent months. The company recently announced it would be cutting 20% of its workforce, which sent the share price up about 9% at the time.

Unsplash
A strategist used the opportunity to place what looks like a long-term covered call. It was a 5,000-lot trade, with options not expiring until June 2023.
More By This Author:
The Secret To My 95% Win Rate RevealedTrade Of The Week: SPYTrade of the Week: GLD
Disclaimer: Information contained in this email and websites maintained by Investors Alley Corp. ("Investors Alley") are provided for educational purposes only and are neither an offer ...
more
Disclaimer: Information contained in this email and websites maintained by Investors Alley Corp. ("Investors Alley") are provided for educational purposes only and are neither an offer nor a recommendation to buy or sell any security, options on equities, or cryptocurrency. Investors Alley and its affiliates may hold a position in any of the companies mentioned. Investors Alley is neither a registered investment adviser nor a broker-dealer and does not provide customized or personalized recommendations. Any one-on-one coaching or similar products or services offered by or through Investors Alley does not provide or constitute personal advice, does not take into consideration and is not based on the unique or specific needs, objectives or financial circumstances of any person, and is intended for educational purposes only. Past performance is not necessarily indicative of future results. No trading strategy is risk free. Trading and investing involve substantial risk, and you may lose the entire amount of your principal investment or more. You should trade or invest only "risk capital" - money you can afford to lose. Trading and investing is not appropriate for everyone. We urge you to conduct your own research and due diligence and obtain professional advice from your personal financial adviser or investment broker before making any investment decision.
less
How did you like this article? Let us know so we can better customize your reading experience.