TLDR: Seems kind of obvious, the play is PINS should beat by similar margin and have similar stock price action, filling the gap to 36s, maybe higher. SNAP options usually has high premium and PINS likely to be in the same ball park. Earnings next week, 11/7 Th AH. Thinking to pick up 35C, still cheap about a hundo. Play the run up with premium and likely hold into earnings.
EDIT: picked up some 33c.
Update: Didn't get a chance to update post. Only had a small position, I ended up selling before ER for some decent gains. hopefully folks that were in sold before ER.
[SNAP earnings price gap filled](https://preview.redd.it/he746ujgc6yd1.png?width=1527&format=png&auto=webp&s=3febecfd927a2394e7c21f3c7155b14059e229a4)
[PINS earnings to fill gap as well?](https://preview.redd.it/9lqiwukkc6yd1.png?width=1417&format=png&auto=webp&s=6a5dbf49a054de133ed5ecece5bc38cc8303a840)
I noticed price correlation between these two social media companies, doesn't appear to be a coincidence that they go up and down together (since IPO), even though they operate slightly in different spaces and business model (one deletes its video content & other one keeps it, non-video & arts & craft content) and cater to different demographics (mostly gen Z vs mostly crafty women). SNAP just beat by good enough margin, mentioned improving AI tech for future outlook, investors liked it, and filled the gap, kept its gains.
[SNAP beat.](https://preview.redd.it/g4yezgslg6yd1.png?width=262&format=png&auto=webp&s=1fcaa56a26cf52fd1499833b02d6efeabcac1f0d)
In Q2 2024, SNAP met EPS and crashed, and PINS barely beat and crashed.
[PINS EPS info](https://preview.redd.it/7gm6zrnpg6yd1.png?width=278&format=png&auto=webp&s=5b6351b55cf57ea60fe93d7db81a1da5f43eb93f)
Thoughts?