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 has rallied back to around $15 per share as I write this. Based on this, I would like to use this as an opportunity to collect some call premium.
My suggestion today is to Sell to Open (1) October 13th - $15.50 Call for every 100 shares you own.
The October 13th - $15.50 call can be sold for $.30 and that is what I suggest you do.
These calls expire in a week and one half.
If the calls are assigned, the return will be about 4% for nine days.