Our Hot Money scanner spotted a new bullish alert in SNAP Inc. (SNAP).
Shares have rocketed higher after beating expectations. I'm seeing massive amounts of money purchase call options right now.
With Facebook losing ground, we likely see a rotation into shares of SNAP.
Here's what I'm doing…
Buy-to-open the SNAP Feb. 11, 2022, $43/50 call spread
At last glance, this is trading around $0.67 per spread.
That means with a max profit opportunity of $6.33 per spread if we soar to $50 per share in the coming days.
As always, I'm averaging into this position and managing risk before entry.
I’ll keep you updated every step of the way.