Flipped straddles in ISRG and PPG on Friday, ISRG was a nice rip while PPG went nowhere and ate my ISRG profits and then some. I went dumpster diving and traded the SNAP September 1x2x1x2 put spread buying the 10 puts, selling 2x of the 9 puts, selling 1x of the 8 puts and buying 2x of the 7 puts for a .24 avg credit. Sees losses with SNAP lower than 7.88 by Sep opex. I foresee activist stake/rumors etc pumping this thing back up over 10 between now and Sep.
I won't be around much this week, making the most of summer and hitting the road again #YOLO
Yesterday AMC:
Today BMO: NEM
Other News: MTZ to buy IEA with cash and stock in $1.1b deal;
Follow through names to watch: SNAP
GAINERS:
IEA: +26% at 13.13;
SIGA: +19% at 14.50 on monkeypox WHO designation;
LOSERS:
MTZ: -12% at 63.59 on deal and lowered guidance;
SNAP: -4% at 9.56;
Follow through watch:
Day before Y'day AMC: COF, ISRG, MAT, PPG, SNAP, STX
Yesterday BMO: AXP, CLF, SLB, TWTR, VZ
Y'day Other News:
2 days ago AMC: AA, CSX, DFS, KMI, LVS, TSLA, UAL
2 days ago BMO: AAL, BX, DHI, DHR, DOW, DPZ, FCX, NOK, NUE, PM, T, TSCO, UNP
2 days ago Other News: ONEM: +66% at 16.93 after AMZN agrees to buy co. for $3.9b, traded 7500 of the Sep 12.5 calls for .60 to .75 last week....; CCL: -12% at 9.72 on secondary offering; TDOC: -8% on ONEM reverse sympathy;
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