SNAP BULLISH CALL UOA — $10 WEEKLY’S

Another week, another FREE UOA. Pretty good deal, right?

Today, we’re looking at SNAP. We’ve seen continuous bullish buying in the name. Here’s the latest activity:

These options were bought a minute and a half prior to close yesterday (AKA before NVDA broke through its all-time high and stole the show). 

SNAP isn’t an earnings play and for the most part it isn’t really an AI play either. This is just a classic, someone is buying up these weekly’s and we don’t know why yet type name. Sometimes it means someone knows something, sometimes it’s just a calculated bet by someone with money. In any case, with the options sitting at an average cost of $0.29, it’s not a particularly expensive one to make. 

As always, we like to live by two rules:

1% Rule — Don’t risk more than 1% of your account on any position. If the position is greater than 1% of your account, don’t buy more than one contract.

Half-or-Double Rule — If the position doubles, close it for a profit or roll it for some of the profit. That means a 100% gain. If the position gets cut in half, close it for a loss. That means losing 50% of it’s value.

Want more trades like this every week? Try UOA Essential today.