Trade Alert 7/19/2023 #2

This is our 2nd newsletter today. We are closing 1/2 of our position in Snowflake (SNOW). Ideally, we will be able to repurchase those shares on downside price action in the coming weeks/months ahead. Sold: 100 shares of our SNOW position at 190.60 Buy to close: SNOW Aug 18th (monthly) 200.00 strike call Debit: 7.70 We then added a 1×2 put spread in SNOW, this could require the repurchase of those 100 shares Buy to open: SNOW Aug 18th (monthly) 180.00 strike put (ratio of 1) Sell to open: SNOW Aug 18th (monthly) 160.00 strike put (ratio of 2) Debit: 2.70 Risk = 2.70 or $270.00 per spread if SNOW is above 180/share Max risk = owning 100 shares at a 142.70 cost basis Max reward = 17.30 or $1,730.00 per spread