Benzinga | Aug 1, 2021 12:57PM EDT

Tony Zhang Weighs In On Snap

Tony Zhang of OptionsPlay answered a question on Snap Inc (NYSE:SNAP) from a viewer of CNBC's "Options Action" during the show on Friday.

He likes the stock as it is building a base above $75 and it has a strong relative strength. He feels the August $80/$85 call spread is a little bit too high in terms of strike prices in such a short period of time. He would instead look to buy the September or the October expiration and he would pick the $75/$80 call spread.