By Dan Darrow
October 20, 2022
Intraday Update: PINS
We are going to follow through on the PINS hedge idea mentioned in yesterday's letter. The plan for PINS will be to open a short-term, lower debit Oct28 $22 -$20 put spread hedge. This will go through SNAP numbers this afternoon and PINS own report next week (10/27), as well as peers META and GOOGL. The spread (if maxed out) will recoup the net debit of the Nov18 call spread.
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