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.
There was some negative news that came out this morning on SNAP and as a result, I am going to suggest you book your profit.
Sell your SNAP shares at the market, which is $17.45.
This will give you a gain of $2.25 per share.
You should have also collected $3.55 per share in call premium, bringing the total return to $5.80 per share or close to 40% return, including the premium collected.
