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Triple_Barrel_Capital

$SNAP Further Decline Expected - $10M Bearish Options Bet

Short
Snap Inc. (NYSE:SNAP)  
Triple_Barrel_Capital  
NYSE:SNAP   Snap Inc.
Trend Analysis Chart Patterns snap Bearish Patterns
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trendanalysis chartpattern snap bearish
$SNAP Snap Inc chart showing no signs of strength with heavy selling over the last month. We saw a large bearish options bet hit today, with $10M worth of April'19 deep in-the-money puts traded. With earnings coming up next week, this could be a sign of more disappointing results upcoming.

Monitor for a break down through $6.50 support level to fresh lows. Targeting $5.50 in the medium term.




Note: Informational analysis, not investment advice.
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