We also bought a bull call spread in SNAP. The company reports earnings next week.
Buy to open: SNAP Dec 20th (monthly) 12.00 strike call
Sell to open: SNAP Dec 20th (monthly) 15.00 strike call
Debit: 0.53
Max risk = 0.53 or $53.00 per spread
Max reward = 2.47 or $247.00 per spread
We already own a 1×2 call spread against our stock position in December. This spread will increase our bullishness in the stock further.