### Comment:
Okay thanks for that really useful insight. The reason I am confused is because before Q2 ER, I bought SNAP calls and, after it mooned, my calls went up by some 1000% in value! So, I cannot understand how these calls would not 'moon' if the shares increased once again by a similar percentage....?

### REPLY:
Because they were likely OTM calls and snap beat the 13.25% implied move when it went up 18.70%. ITM calls more chance of being ITM after earnings and relatively safer while OTM calls more risk but more lucrative if you are right.

### END.