Our Hot Money monitor triggered a bullish alert in Snowflake Inc. (SNOW).
We're seeing 44k calls traded vs. 7.7k puts and big positioning in the $275 calls expiring next week.
I'm going to buy more time with going out a few more weeks and using a spread.
Here's what I'm doing…
Buy-to-open the SNOW Aug 20th, 2021, $275/285 call spread
At last glance, this is trading at $2.40 per spread.
Let’s manage our risk before entry and I’ll keep you updated every step of the way.