Trade of the Week - SNOW - Monday (Jan 22, 2024)

From our trading desk to yours: Each Monday we pick one stock to highlight - from our unique perspective - and share with clients how we analyze & trade it using primarily options.

This week, Archna (our advanced options contributor), offered up Snowflake (a cloud-computing mid-cap tech play), as a bullish breakout play. All of us happened to agree.

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Samantha LaDuc is the founder of LaDucTrading, and can be found discussing macro-to-micro market-moving news, sector rotation & trades in her live trading room & in her client slack workspace, while making her chase, swing & trend portfolios & custom trade support available for CLUB/EDGE clients.

Samantha is bullish:

Swing Timeframe:

SNOW on breakout above 202 area. Gap fill on weekly of 193.14 and daily at 192.66 (white boxes), needs to hold. Bigger "protect to area": is 190 on daily and 181 on wkly depending on timeframe: swing/trend. Price target above 205.66 is 222 to start. Will update then.

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Archna is a live trading room moderator for CLUB & EDGE clients in the morning, then takes to the live stage in discord for our COMMUNITY clients actively teaching and trading advanced options.

Archna is bullish:

Chase Timeframe:

I have Feb 2nd 210C. If we get to 205 then I will sell 212.5C for Jan 26th so as to take some risk down and hold it overnight. With a potential to make it a free 210/220 Call Debit Spread.

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Rithika is a live trading room moderator for CLUB & EDGE clients in the morning, while managing Samantha's Chase trades, then takes to the live stage in discord for our COMMUNITY clients contributing education and swing trade set ups using her Elliott Wave analysis.

Rithika is bullish:

Swing Timeframe:

201.99 is currently resistance and SNOW is trading currently above the psychological 200 level. If it wants to break out to 220, it must defend 200. There is a lot of empty space above and has currently broken out of a symmetrical triangle.

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Tiffany manages Samantha's Swing Portfolio for CLUB & EDGE clients, does thematic research/analysis on Samantha's Trend Portfolio names, and contributes her options gamma analysis & trades for all clients.

Tiffany is bullish:

Chase Timeframe:

SNOW is in a chop zone between 190 and 200. It needs to close over 200 on the daily to move to 210 which is the weekly one standard deviation move and a call wall for this week.

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