Snap Inc. (SNAP) is a garbage stock, in my view. I think eventually it gets taken out at a price lower than the current one by an Alphabet (GOOGL) or Twitter (TWTR) type of company.
However, with the departure of its chief strategy officer, there is some chance that the stock gets some near-term excitement. I believe we could see SNAP make a run higher potentially toward $10.50 before traders realize that even though they have a new team, this is Snap and its business model is flawed.
The October $10 calls are about $0.50; I think you'll get to sell them at $0.75-$0.80.
Trade: Buy to open 1 SNAP Oct19 $10 call for $0.52.
At the time of publication, Sebastian had no positions in the securities mentioned.