Buying SNOW put contracts.

Snowflake Inc. (SNOW) is a cloud company that stores data and makes the information available for companies to research and analyze.

While the technology is very helpful, SNOW is only marginally profitable.

The company is expected to earn $0.43 per share next year. Which means the stock is trading for roughly 330 times next year’s expected profits.

In today’s market, high-valuation growth stocks like SNOW are being punished. And the recent bear market rally sets up a good risk / reward scenario for us to roll out a new bearish position for SNOW.

We’ve got plenty of bullish exposure in our model. The new SNOW position will help to add balance to our investments and prepare for a possible end to the bear market rally.

• Buy (to open) 4 SNOW December 16th $175 Puts
• Limit $35.00 or less
• The new position will represent roughly 9.8% of our Spec Model capital
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• 11:11 Executed
• Bot 4 SNOW Dec 16th $175 Puts @ $33.20