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 holding just under the $15.50 strike price. So, I would like to use this as an opportunity to collect some more call premium.
My suggestion today is to Sell to Open (1) October 27th - $15.50 Call for every 100 shares you own.
The October 27th - $15.50 call can be sold for $.30 and that is what I suggest you do.
These calls expire this Friday.
If the calls are assigned, the return will be about 4% for nine days.
