Jim Strugger's Bullish Snap Trade

Jim Strugger of MKM Holdings suggested on Bloomberg Markets that traders should consider a bullish options strategy in Snap Inc SNAP.

He explained that the internet stocks bottomed a week after the lock-up expiration and he believes that could be a case for Snap, too. To make a bullish bet, Strugger wants to buy the September 15 call and sell the September 11/9 put spread to partially finance the purchase of the call.