If you’re using the Penny Options Scanner, we have great news…
We’re still tinkering with the filters behind the scenes, and we pushed an update last night that extended the expiration date out to 30 days to see if we can get even more orders hitting.
And already through 1:30 p.m. today, we’ve seen nine orders that we would not have seen.
We’ll keep a close eye on it and if it’s too many, we may scale back a few days, so stay tuned!
If you haven’t gotten the Penny Options Scanner yet — we’re offering three free months to everyone who signs up for a year! — just go here!
Today, let’s take a look at a stock we saw hit both the News Flow and Penny Options scanner, Bill Holdings (BILL), which reports after the close today…
It is interesting that it hit both scanners, but there’s something weird about these orders…
BILL is trading just above $51 a share today, and these orders were in the $64 and $65 strikes expiring tomorrow, so they’re way out of the money. And that makes them suspect…
Of course, this trader(s) could easily know something we don’t, like there could be a merger or some big news coming…
But if we really liked this as an earnings play, we’d go in the money, or at least inside the market maker’s expected move of $7.06 higher or lower.
Stay tuned… We’ll update this article on the website if we see more orders in BILL, which could push confidence higher!
We also saw a short bet in Cava (CAVA) for earnings after the close today, but they are on the expensive side for a put that’s out of the money.
Puts are often downside protection for a long stock position in case it falls on earnings, and we generally like puts that are in or one strike out of the money.
The further you get from where the stock is trading, the lower the probability the trade will work out. This trade is, however, well within the market maker’s expected move of $10.30 higher or lower.
CAVA is up BIG this year, about 144% ($61 a share), so this could easily be a downside hedge…
As always, respect the risk and trade small on earnings events — don’t blow up your account with one bad trade!
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.
- BILL Aug24 23rd Strike: 64 Calls premium: $181,543 ABOVE ASK BULLISH
Trade Date: August 22, 2024 Trade Time: 10:13 am - BILL Aug24 23rd Strike: 65 Calls premium: $52,965 ABOVE ASK BULLISH
Trade Date: August 22, 2024 Trade Time: 11:12 am - CAVA Aug24 23rd Strike: 100 Puts premium: $195,000 ASK BEARISH
Trade Date: August 22, 2024 Trade Time: 9:46 am
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.
You can only find him on his personal YouTube Channel — smash that Subscribe button! https://www.youtube.com/@LanceIppolito
And in his private Telegram channel: https://t.me/+-gVwEIwGJhplMTgx
*This is for informational and educational purposes only. There is inherent risk in trading, so trade at your own risk.
P.S. The Options Market Is Undergoing a MASSIVE Shift
There’s been a subtle shift in the way the top options traders approach the market.
While everyone focuses on whale orders over $100K…
A new opportunity exists by tracking options flow on total premium under $100K and contracts priced under $1.00… as you can see below.
These are short-dated and fast-moving plays — day and swing trades you may hold no more than a couple of hours up to just a few days.
This is how I’ve been able to spot a bunch of winners like…
- TDOC, with a nice 7% gain.
- LYFT, which hit a 20% move.
- WBD, which enjoyed a 62% surge.
Of course, some wins were smaller and we’ve had a couple losses — and we cannot promise future returns or against losses…
But these “penny options” are becoming more and more popular with smart traders who like to get in and get out of trades quickly.
we make no future earnings claims, and you may lose money. From 5/13/24 through 7/24/24, the average win rate on live published trade alerts are 90%. The average rate of return on options trades was 53% over a 1.3 day average hold time.
