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. 

Let us show you how to find Unusual Options Activity

Everything you’ve ever wanted to know about Unusual Options Activity—in one convenient insider’s guide.

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.

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