Snap Inc. Class A (NYSE:SNAP)

Strategy Session December 11th, 2017

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SNAP Weekly Chart

Old Forum Content for SNAP

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  • traderbren: #SNAPtwit -- $SNAP seeing a bid.
  • ATX17: @traderbren $SNAP #SNAPtwit Looks to be done with a small rest..mid 11s to leg up 17s-20s..maybe a small add to start a position with a stop around 13.89
  • Bridget: #Notes: $EDU $SINA $WB - new highs, $YY $BITA also near highs $XLV - health care moving higher again. $GILD $CELG $BMY $AMGN $WYNN $MGM $LVS $MLCO - working $XLF $KBE financials banks down but $V and $MA higher $YELP $GRUB - both breaking out higher $FIT $GPRO $SNAP - dumpster diving $DIS - down big on warnings, taking $CMCSA $FOX $CBS $TWX down too Telecom not looking good $T $VZ $S $TTD - rally on good volume, near all time high $ORCL $CRM - working $ZTS - breakout on weekly $KO - about to breakout
  • DrScience: $SNAP falling away from the 50 DMA daily chart, money flow and momentum turning toward the bottom of the hill.
  • Bridget: $SNAP back above $15. Still lots of overhead resistance. If you trade this, set tight stops and take profits early.
  • DAN: $SNAP -- starting to test Thursday's high and above the 40 day MA. Volume over the past 3 days is declining a bit. This could go higher from here. Definitely worth watching. I have a small position...but only a small position.
  • audrina0904: @DAN $SNAP - Last night while prepping for Game of Thrones...$FB filter for GOT came up on my phone and solidified my mental block about owning $SNAP. Now $FB is a fully competing camera company!!! LOL
  • DAN: @audrina0904 $SNAP $FB Doesn't surprise me. Zuckerberg is creative...and not hesitant to copy technology. That's not a bad or illegal thing -- but it's what he does the best.
  • DAN: @rck89 $CTL Yep. Closed it out for a nice profit. (7.4%). Not bad for a 5 day trade. We're doing the same thing now with $SNAP...only with a short put position.
  • michaelH: @Bridget $DPZ Any thoughts on shorting $SNAP?
  • Bridget: @michaelH $DPZ $SNAP I look for topping patterns. This stock is not in a topping pattern. If anything, this is in a basing pattern.
  • Junior1: $SNAP Getting close to bearish engulfing (14.54 needed) and a break of the uptrend.
  • Junior1: $SNAP up 6% and no chatter?
  • Bridget: @Junior1 $SNAP I'm still long term bearish but playing a short term upward move as it looks like the shorts are getting squeezed.
  • Junior1: @Bridget $SNAP I see 71M short... only 2 days to cover with over 35M+ each of the last 7 trading sessions.
  • Vehid: $SNAP I won't touch it either short or long!
  • Detailsart: @Junior1 $SNAP FYI. If SNAP close above $14.06 it will have the first weekly bullish engulfing candle since its IPO. That would be technically very bullish. Could lead to $17 resistance level.
  • Junior1: @Detailsart $SNAP yes, I see that
  • Junior1: $SNAP You gotta love this stock. Yesterday it was bullish engulfing, today we get an evening star.
  • PhilHarmonic: @Junior1 $SNAP It's a Gamblers stock. Betting that it's made a bottom or the downtrend will continue. Flip a coin and place your bets.
  • Junior1: $SNAP sooo volatile! chopping up everybody... np
  • GOOSE: A TRADE: $SNAP STO 8/18/17 13.O CALLS @.31
  • Junior1: @GOOSE $SNAP Synthetic short: STO 15/9/17 13.0 Calls @ 0.80 BTO 15/9/17 12.0 Puts @ 0.60
  • Junior1: @GOOSE $SNAP Down 6% since the HOD, now testing dropping below the VWAP line on the intraday.
  • GOOSE: @Junior1 $SNAP Been reading some negative news on them on my computer lately, so I will continue to sell it for a while.
  • infocus: $SNAP BTC Aug 11 2017 15.5 Calls @.01
  • GOOSE: A TRADE: $SNAP STO 8/18/17 13.0 CALLS @.30 Close to the money.
  • GOOSE: @Bridget $SNAP Thank you again for your advice on this stock yesterday. I held half because you gave me a little more confidence. Have a great weekend. GOOSE
  • GOOSE: A TRADE: $SNAP STO 8/18/17 12.0 CALLS .44 ATM
  • GOOSE: OPTION EXPIRATION: 8/11/17 $SNAP 15.0 CALLS $SNAP 15.50 CALLS $TEVA 17.50 CALLS Have great and safe weekend everyone.
  • GOOSE: A TRADE: $SNAP BTC 8/11/17 11.50 PUTS @.29 Earnings ATB tonight. Had erroneous info, so loaded up yesterday with short puts & calls. $SNAP looks weak this morning, so I'm wondering, should i close the short calls before earnings tonight or not. I have a small profit in the calls, except one and loss so far is minimal.
  • Junior1: @GOOSE $SNAP I'm in the same boat. It likes like the short 15.0 and 15.5 calls should end up profitable even if $SNAP moves up the anticipated $2.00
  • GOOSE: @Junior1 $SNAP That's what I'm thinking too. I may get rid of the 14.5 calls, and keep the 15.0 & 15.5's. We'll see. ;>) I guess we could always roll 'em out if necessary. Edited
  • Junior1: @GOOSE $SNAP I've closed all positions... Not interested in getting creamed at the craps table. Again
  • GOOSE: $SNAP Seems to be selling off some going into the close. Maybe I'll hold my positions, short calls.
  • audrina0904: $SNAP had a qtr that needed a better was cute though!
  • optionswealth: $SNAP & Blue Apron I can't believe the amount of time that CNBC has spent on these two stocks You would think they were the make it or break it in some huge financial deal. Every day, day after day, since they came public,
  • GOOSE: TRADES: $SNAP Bought back half, ;>( , kept half of my short calls, ;>) , close to the bell, wimped out.
  • infocus: @GOOSE $SNAP Stuck it out and lucked out. Expect the short 15.5 calls to expire worthless tomorrow. Only bright spot to the day.
  • Junior1: @GOOSE $SNAP Interesting... The last 5 min candle before the close saw 4Million shares change hands and 2.19% jump in price. Go figure. I made nothing... and lost nothing! ;-)
  • GOOSE: TRADES: $SNAP is my new $UVXY. i get more bang for my buck, now that they increased the margin requirement on $UVXY. $SNAP STO 8/11/17 15.5 CALLS @.37 $SNAP STO 8/11/17 15.0 CALLS @.49
  • Junior1: @GOOSE $SNAP $UVXY Can I ask you... what is the advantage of "ladders"? I see a disadvantage of them: requiring more transactions (time and commissions)
  • infocus: @GOOSE $SNAP Earnings tomorrow.
  • Junior1: $SNAP Earnings today. Straddle is priced around $2.00, suggesting a move to $15.50 or $11.50. Keeping the short call positions. But took off half of the synthetic short.
  • infocus: @Junior1 $SNAP TOS show the earnings as tomorrow after close.
  • Junior1: @infocus $SNAP You're right! Thanks
  • GOOSE: @infocus $SNAP Thanks for this post. I just deleted my post. I was wondering why the IV and premiums were so high. I was STO Options today, guess I'll have to adjust them tomorrow, that is if the EA is after the bell.
  • GOOSE: A TRADE: $SNAP STO 8/11/17 14.5 CALLS @.50 Speculative. BTC bunch of $UVXY Short Calls to raise margin balance; $UVXY's Margin Requirement raised to 80%, wiping out my buying power. $50 credit, in that buy/sell transaction, upon reflection, not really worth it.
  • Junior1: $SNAP This is interesting... may move the stock on Monday: "Google will reportedly launch a Snapchat Discover competitor"
  • champ: @Junior1 $SNAP ---- #UpDate ---- Yes, it sure could move the stock on Monday, a little more.....but I just want to point out.... that this News was released on Thursday 8/3.... by Business Insider and then again by WSJ. I had a post on this stock... ...
  • GOOSE: $SNAP Going to BTC some Short calls. Don't like the way this is going.
  • singlemalt56: @GOOSE $SNAP Right behind you. First few minutes looked good, then, not.
  • GOOSE: A TRADE: $SNAP BTC 8/11/17 13.0 CALLS @1.10 Will BTC the rest if it breaks today's high. Edited
  • champ: $SNAP @ $13.35 ---- Many took swing trades yesterday off of that low of $11.90...the stock dropped 50% from the IPO price...going into earning on 8/10after....I'm new Spec swing long yesterday with trailing stops.
  • Bridget: $SNAP confirmation of the hammer yesterday. I'm buying some here for a short term move into earnings.
  • infocus: @GOOSE $SNAP Just back from lunch. Stopped out on the $SNAP short calls. Happy to be rid of it, particularly after I saw today's action. Could have been ugly but was just a mosquito bite. TRADES: $SNAP BTC Aug 11 2017 13.50 Calls @.76 (STO @.43) $UVXY BTC Aug 4 2017 37 Calls @ .01 Trading account making another high for the year today while taking lots of risk off the table. Hope you're doing well, GOOSIE
  • infocus: $SNAP New low at the open - 12.25
  • Sphinx: @infocus $SNAP Is there a bottom to this stock? Zero?
  • rck89: @Sphinx $SNAP No...just a hat size!
  • infocus: @rck89 $SNAP LMAO
  • infocus: @Sphinx $SNAP We'll know when Dan says, "Stick a fork in it, it's done".
  • GOOSE: TRADES: $UVXY BTC 8/4/17 35.0 CALLS @.08 To raise some $ for another trade. See below. $SNAP STO 8/11/17 13.0 CALLS @.50 Has a terrible Daily chart, and a worser, ;>), Weekly chart. On the weekly, it looks like water coming out of a hose, off the lower BB.
  • GOOSE: $SNAP Alert. Stock moving up. Could be all the people who are short taking profits. Almost 33 million shares today.
  • infocus: @GOOSE $SNAP What happened to all the shareholders whose shares were "unlocked?! 6 more trading days left for my short calls... Take small loss now, or roll next week?
  • GOOSE: @infocus $SNAP 6 more days for me too. Haven't made up my mind yet to BTC or roll out.
  • GOOSE: @infocus $SNAP Also, as @Lou, & @Forexpro suggested last week. These guys have a special mechanism, like shorting the stock to lock in a price, and delivering the stock afterwards when the lockup expires.
  • infocus: @GOOSE $SNAP It's still a lower high and a lower low...rationalization?
  • singlemalt56: $snap watch. I'm closely watching yesterday's open @13.25. If it doesn't breach to the upside today, staying short.
  • GOOSE: @singlemalt56 $snap So far I'm with you. ;>)
  • infocus: @singlemalt56 $snap Me too.
  • GOOSE: A TRADE: I am a roving gambler, I've gambled all around, whenever I meet with a deck of cards, errr, short calls, I lay my money down. $SNAP STO 8/11/17 13.0 CALLS @.68
  • DAN: $SNAP $APRN --- man, I am really hoping that Uber goes public soon. I can hardly wait to buy the next big thing. (Well, maybe I'll sell first, and then buy after that. And Marissa Mayer as CEO.? That would be a twofer. Never gonna happen (Meg Whitman would be a better choice. She is actually a good CEO)...but hope springs eternal. Ok...gimme your estimates on SNAP. How long do you think it will be before SNAP goes to single digits? August? September? Later? Never? Who is gonna step up and make the correct prediction?
  • GOOSE: @DAN $SNAP $APRN Hey @DAN, Its almost like you are talking to me. I'm no prognosticator, but, I will stick my neck out and say, it will be in single digits by 9/12/17. I think it will pick up velocity the lower it goes. ;>)
  • DAN: @GOOSE $SNAP $APRN OK. That's your date. I'm gonna be a bit more conservative and guess....9/18/17 -- the Monday after your date. Anybody else? No snap chatters who think the stock is undervalued?? C'mon! Someone's gotta take the other side of the trade or there is no market. 8:/
  • infocus: @DAN $SNAP $APRN My favorite game - I say that it hits 9.98 or lower by 9/1/17. Of course, I'm short calls ;->
  • Junior1: @DAN $SNAP $APRN 13 More sessions... August 22nd! I'm long Puts/short Calls.
  • infocus: @DAN $SNAP $APRN $SNAP Earnings next Thursday. Catalyst for a "dump" ? (you should excuse the expression)
  • GOOSE: @Junior1 $SNAP $APRN Hey, I thought you closed out after that Bull Engulfing candle. ;>) EDITED: BULL NOT BEAR
  • dcphinney: @DAN $SNAP $APRN I want a laugh button to click on.
  • Junior1: @GOOSE $SNAP $APRN Re-entered this morning after yesterday's Bear Engulfing. Though, not early enough!
  • DAN: @DAN $SNAP $APRN Wow. You guys are really aggressive! OK. All dates duly noted. (And nobody is going to defend snaptwit. Hmmm.
  • infocus: @DAN $SNAP $APRN Is that a "contrary indicator"?
  • DAN: @infocus $SNAP $APRN Might be. When everybody is leaning the same way...the boat tips over.
  • ROSEY: @DAN $SNAP $APRN $AAPL $MSFT FORGIVE ME, Dan, if i am misunderstanding the comparison aspect, after the lol, could i ask to enter these two in the game?
  • GOOSE: A TRADE: $SNAP STO 8/11/17 14.50 CALLS @.40 Riskier than I like.
  • GOOSE: A TRADE: A reluctant trade. Hate to do Short Puts. No margin use though against a multitude of Short Calls. $SNAP STO 8/11/17 11.5 PUTS @.35 Delta .22 Over a point under its all time low. Keeping an eye on it.
  • GOOSE: $SNAP seems to be pretty resilient this morning. Watching. Short calls. Options don't seem to move much.
  • GOOSE: $SNAP It's as if the stock didn't care that 400 million new shares are coming into the market Monday or Tuesday.
  • Lou: @GOOSE $SNAP - Could it be that some of the sales we've been seeing were short sales by the insiders in anticipation of being able to deliver the lock-up shares next week? No position.
  • Lou: @Forexpro $SNAP $GS - thanks for the info. I've seen many a massive lock-up end without even a hiccup in the stock price. Your explanation of the process certainly puts flesh on the bone. Cheers!
  • Forexpro: @Lou $SNAP Good Thought, Lou, Not by the individual holders; at most firms, selling the home stock short is frowned upon, if not forbidden. However, the senior people - the ones with massive quantities of shares to go - often have an arrangement with the underwriter or some other bank ($GS is frequently involved) that will guarantee them a floor price for all or some portion of their holdings. So, at one remove, you get the same sort of phenomenon, as the agent operating on behalf of the senior insiders might well have been doing some early hedging/selling. No way to tell for certain, of course, but your surmise strikes me as highly plausible. Thanks, and have a great weekend!
  • GOOSE: @Forexpro @Lou $SNAP $GS Well two of the members I highly respect answered this silly GOOSE. Thanks to both of you for your wisdom. Have a great and safe weekend. Your amigo GOOSE
  • Junior1: $VRX $SNAP $USO @GOOSE @TRICIA et al. You'all are trying to use logic/research. The charts don't lie.
  • GOOSE: @Junior1 $VRX $SNAP $USO Valid, valid. Thanks for giving me a little more courage. :>) Have a great weekend.
  • GOOSE: @Lou $SNAP A late thought, if there were so much selling, I would think the it would have lost more value????? by now.
  • DAN: Good morning. Futures are up this morning, with the Nasdaq slated to open about 45 points higher. Facebook (FB) hit a grand slam with its earnings report last night, beating analysts' estimates for revenue, ad revenue, user growth and earnings. Th ...
  • Junior1: $SNAP Bullish engulfing rhrn on daily. Closed out short position. One of my most profitable trades this year!
  • infocus: @Junior1 $SNAP Nice trade! I'm sweating out my short 14.5 Calls for next week and short 15 Calls for the following week. Several options: can always turn it into covered calls, or roll out and up. Very wide spreads on the options.
  • GOOSE: @infocus $SNAP Why sweat? Monday the IPO lockup ends, and, as @DAN mentioned this morning, 400 million restricted shares come on the market Monday. I don't think buyers are standing and holding their breath to buy. But as @Forexpro mentions once in a while, I'm sometimes wrong. ;>)
  • Junior1: @GOOSE $SNAP $SNAP was unfazed by the spike today. up 4.5% as i type this. Something is awry
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Stock Price $USD 16.22
Change 7.63%
Volume 34,863,500

Snap Inc is a camera application developer. Its main product is Snapchat, a camera application created to help people communicate through short videos and images. It also offers Spectacles, which are camera-enabled sunglasses.

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