My Trade Details:

  • SNOW Oct 14 2022 180 Call near $7.50
  • Stop : Close below $160
  • Target : $185


SNOW – Your Bullseye Pick Of The Week (09-26) - Bullseye Pick of the Week

Over 200% move potential

Now, this week I am looking to buy calls on SNOW.  

This is a recent earnings winner and one of the few tech stocks still in an uptrend.  I think if the market does turn around soon, this will be one of the biggest movers.

The biggest problem I see right now is timing.  I don’t have a lot of faith that we will see a rally today, but we are likely close, and it could happen in the next few days.

I also don’t want to push all of my chips in on this trade at once.  I want to scale in over a few days, most likely.

If I am wrong, I will use a closing price below $160 as my stop.  That was the recent resistance level prior to the huge earnings win in August.

If things go my way, I am looking for a rally to the mid-$180’s as my upside target.

I got out of this one a bit early but it was still a nice trade for me.