This move is used to create space from your defender typically when you have momentum downhill. There are a couple different ways to execute a snatch move, most common being snatching on your outside leg (pulling the ball back to front). Snatching inside is not as common, but very useful. For this move to be executed correctly, you need to have your inside leg extended out in front, while pulling the ball back between that same leg (front to back). This will stop your momentum and create the space you need to get off a shot.
This is a great way to be aggressive and create space from your defender at the rim. The key is to dribble and bump at the same time, so you can use your bounce as energy. - Craig Luschenat
Using a late dribble at the rim helps to throw off a shot blockers timing and makes it hard for a defender to count your steps or time your ball pick up. - Craig Luschenat