Oct. 3 at 10:37 PM
What’s going on with
$SNAP today
Ripped 3.9 percent but saw around 28k ask-side sweeps in 10/10
$8 puts
Looks like hedging into strength so watch for pullback risk around
$8
Plus a new lawsuit hit about an ad platform error
More headline risk could mean sharp swings
Even with today's put flow, over the past 5 days calls are still leading
Seeing big upside buys into November and December like 12/19
$10C and 11/21
$8C
Stay defined risk until things settle