Here's what I'm looking to do.
A $19 May put only costs .75 right now.
$26 May call costs .95 BUT I can sell the $30 May call for .40 making my best reward $4.00
I don't want to limit my downside, because I'm 89.54% confident SNAP gaps down on earnings. They are around the corner and right now, this stock is QUITE sideways.
Total debit for this 'stangle' would be $1.30 ish not including commissions. Just something to consider. Always evaluate risk. I'll likely do less calls (than puts)
A $19 May put only costs .75 right now.
$26 May call costs .95 BUT I can sell the $30 May call for .40 making my best reward $4.00
I don't want to limit my downside, because I'm 89.54% confident SNAP gaps down on earnings. They are around the corner and right now, this stock is QUITE sideways.
Total debit for this 'stangle' would be $1.30 ish not including commissions. Just something to consider. Always evaluate risk. I'll likely do less calls (than puts)
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