MomentumOptions.com Trade Alert (SNAP) for 9/26/2023

3:25pm (EST)

We have a Trade Alert today so let’s get check the details.

Trade Alert!

Snap (SNAP, $8.30, down $0.30)

SNAP October 9 puts (SNAP231020P00009000, $0.92, up $0.21)

Entry Price: $0.65 (9/19/2023)
Exit Target: $1.30
Return: 41%
Stop Target: 75 cents (Stop Limit)

Action: Set an initial Stop Limit at 75 cents to start protecting profits and to avoid a loss. We still think shares will trade with a $7 handle over the near-term but RSI is signaling oversold levels at 28.

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