Option Strategies: SNOW

Selling For Premium
11-22

Hello everyone! Today i want to share some option strategies with you!

So, here's the plan on our $Snowflake(SNOW)$ 150CC.

1. Gonna watch the price action to see how SNOW plays out the rest of this week. If it holds above 150 but looks like it will close the week in the 150-155 range, then we are just gonna let our shares get called away at 150 and will sell a cash-secured put to get back in.

2. If SNOW closes the week at 155+, then we will roll our CCs to a higher strike (to capture more upside), expiration tbd based on how high a strike we want to go while getting net credit for the trade. We will probs target a strike at 160 or higher.

There is resistance at the 155-160 volume bar with add-on volume bar resistance up to 170. So, what we would be looking for is price action to be held under 155 to close this week ... or ... if S/R gets flipped, to then see price action be held within the 160-170 range. If buyers eat through that overhead resistance, then SNOW could fly higher (would be awesome to see it fill that upside gap over 200). If that happens, then we might have to roll up-and-out to a way far out expiration date in order to get a call strike as high as possible. We shall see.

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