While the Diary of a Mad Hedge Fund Trader focuses on investment over a one week to six-month time frame, Mad Day Trader, provided by Bill Davis, will exploit money-making opportunities over a brief ten minute to three day window. It is ideally suited for day traders, but can also be used by long-term investors to improve market timing for entry and exit points.
SNAP is trading around $15.88 as I write this. I would like to suggest you collect some more call premium on the stock.
My suggestion is to Sell to Open (1) December 22nd - $16 call for every one hundred shares you own.
This the expiration in 10 days and not this Friday.
The December 22nd - $16 can be sold for $.45.
Based on a sale at $.45, it will mean you should have collected $3.24 per share in call premium.
Also, if the calls are assigned, the return will be another $.80 per share.
