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 reports tomorrow after the close and the front week call options carry an insane implied volatility of 165%.
I definitely want to take this as an opportunity to collect option premium.
My suggestion today is to Sell to Open (1) May 4th - $14.50 call for every 100 shares you own.
The May 4th - $14.50 calls can be sold for $1.00 and that is what I suggest you do.
Based on a sale at $1.00, you will have collected $1.65 per share in call premium on this position.