Another day, more wins from the Penny Options Scanner! We covered plays in PayPal (PYPL), Palantir (PLTR) and Lumen Technologies (LUMN) during Monday’s Trade the Close Session, and all three were up nicely today…
This morning, we saw a play hit in Intuitive Machines (LUNR) in the weekly expiration, $5 strike calls at 10:35 a.m., when the stock was up nearly 17% on the day.
By lunchtime on the East Coast, the stock was up a staggering 40%, and those calls absolutely RIPPED!
That’s great and all, but those moves are behind us, so what do we have in store for what could be ahead?
Well… TJX Cos. (TJX) and Macy’s (M) both report earnings this week. We’ve covered M calls already, and today, we saw a play in cousin stock Kohls (KSS) — which could be used as a play on TJX and M earnings at a much cheaper price!
TJX is trading around $113 a share while M is under $18 a share, a couple bucks shy of KSS’s sub-$20 share price.
But KSS doesn’t report this week — it reports next week — so its options are much cheaper. And a trader grabbed the weekly $20 calls just before lunchtime on the East Coast.
Now, that certainly doesn’t mean this play will take off like TJX or M IF their earnings reports are strong. But it could move in rhythm with them, and contracts are around $0.40, offering a strong risk-reward if things play out.
We also saw a sizable short bet in TeraWulf (WULF), a ticker we rarely if ever see hit the scanner, and two straight big bets in JPMorgan (JPM) spanning November and December.
They’re a little long-dated for our taste, but they are interesting orders that capture the bank’s October earnings report. So they could be worth putting on a watchlist for now and revisiting later.
Order Flow:
*This is for informational and educational purposes only. These are not official alerts issued by Lance, but rather some interesting orders picked by the team at Lance Ippolito Trading.
There is inherent risk in trading. Trade at your own risk.
- KSS Aug24 23rd Strike: 20 Calls Premium: $56,496 ABOVE ASK BULLISH
Trade Date: Aug. 20, 2024 Trade Time: 11:20 am - TJX Aug24 23rd Strike: 120 Calls Premium: $51,224 ABOVE ASK BULLISH
Trade Date: Aug. 20, 2024 Trade Time: 2:06 pm - WULF Sep24 Strike: 5.5 Calls premium: $410,630 ABOVE ASK BULLISH
Trade Date: August 20, 2024 Trade Time: 10:01 am - JPM Dec24 Strike: 200 Puts premium: $237,120 ASK BEARISH
Trade Date: August 20, 2024 Trade Time: 1:43 pm - JPM Nov24 Strike: 205 Puts premium: $524,678 ASK BEARISH
Trade Date: August 20, 2024 Trade Time: 1:41 pm
Note: If no date is listed after the month, it’s the monthly expiration (third Friday).
The team at Lance Ippolito Trading
Lance doesn’t want the CCP spying on him, so you’ll never find him on TikTok. Same goes for other social media sites, which are filled with impersonators, scammers and crypto bros.
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*This is for informational and educational purposes only. There is inherent risk in trading, so trade at your own risk.
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Hope you had a blast at Monday’s Penny Options Scanner session…
We saw another big move in a signal we covered during the session!
That baby surged even higher as the day went on today, and we also saw nice moves in PYPL after an upgrade, and PLTR!
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