SNAP is going down

١٧ أبريل ٢٠٢١

Potential expanded flat Elliott correction wave bear flag formation on SNAP. Resistance at the 0.618 level. Earnings in 5 days I expect SNAP to drop further as we approach the announcement date. I'm not buying puts due to IV crush. Bear call spread (call credit spread) is more suitable for this pattern. Let me know what you think.

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