Only way to play this name is to sell OTM puts close to $21 or $20 dollars, as I explain this in the video. You can short straddle this by selling $27C and $23P as well for protection on both sides. If you sell $21P, you need $2,100 equity to be paid around $50 dollars credit, this is 1.6% return for 5 day hold (annualized this is 115%). Good returns, if you were to get assigned at this point, I would flip and sell calls against the exercised options.
If you sell the 7/31, $23.50P for $1.50 cents, you get $150 dollars $2,350 capital required to held for $150 return, 6% return for 10 days, (215% return annually) - obviously this is close to the money but higher return if your conviction is high for a flat to bullish ER.
I am NEITHER BULLISH nor BEARISH on $SNAP but if I was going to sell premium I would rather sell it on a limited downside risk with a PUT instead of a short squeeze potential with a naked call.