Β· degenerate gambling play Β· 1 min read

Degenerate Gambling Play

High Risk, High Reward Plays surrounding binary events.

High Risk, High Reward Plays surrounding binary events.

The vast majority of these plays are taken with 0.1% of the portfolio. Remember to risk only what you can afford to lose.

META Dog wags SNAP’s tail

Play:

  • SNAP 04/28 9.5/10 Strangle for $1.55 or less

Thesis

This is one of the few times that SNAP announces after META. This is important as if META has a poor earnings report, SNAP will likely gap hard before going into their own earnings report, without a material change in IV. Conversely, if META has a good earnings report, SNAP can potentially gap up before going into their own earnings.

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