>>> THREE new weekend trades are dropping at 3 p.m. ET TODAY— and we’re offering a BIG discount! <<<
Just when earnings season was getting off the launchpad with some exciting moves…
It’s taking a big break with next to no one interesting reporting next week with the Fourth of July holiday on Thursday. U.S. stock markets will close at 1 p.m. ET on Wednesday, July 3, and be closed all day on Thursday before reopening Friday with regular hours.
This means volume is likely to be incredibly light, with only MSC Industrial (MSM), Radius Recycling (RDUS), SimulationsPlus (SLP) and Corona-maker Constellation Brands (STZ) on the earnings calendar for Tuesday and Wednesday.
Things have already lightened up a bit heading into the weekend, with stocks popping after the debate but then falling largely flat so far Friday. It’s a far cry from the fireworks we saw Chewy (CHWY)…
We held a live trading session for the open Friday, and I gave a watchlist of short-dated to keep an eye on for repeat orders heading into the weekend:
- Visa (V).
- Carvana (CVNA).
- Supermicro Computer (SMCI) — we got one of these 20 minutes before this newsletter went out (listed below)!
- GameStop (GME).
We also entered a trade Friday morning in the DraftKings (DKNG) September monthly expiration, $38 strike calls that could be one to keep an eye on for the near term.
They are a little pricey as of this afternoon, around $3.65 a contract as of 12:30 p.m. ET — they were around $3.25 when the order hit — with shares right at $38. They do, however, capture the company’s Aug. 1 earnings date, so I’m keeping the balance on for now after selling half during the session.
If it dips, this could be an interesting play heading into the weekend.
It’s a bit long-dated but the reason I like this play is because it just had a pullback, and because Penn Gaming (PENN) was having a big day, so maybe we can get some correlation from this cousin stock.
We also caught a very large bet in Affirm (AFRM) to the tune of $2.6 million. It was deep in the money and long-dated, expiring in December. In instances like this, you may want to go with a shorter play in AFRM that includes earnings in August, or could just buy shares of common stock and hold.
This stock has made some crazy moves in the past, so respect that risk!
And like we said, keep in mind that volume will be non-existent next week, so maybe take some time and get away from your screens, spend some time with friends and family, and celebrate the good ol’ U.S. of A.!
We have a few more educational trading videos coming early in the week, so keep your eyes peeled!
Top Flow:
- SMCI Jul24 5th Strike: 850 Calls premium: $762,078 ABOVE ASK BULLISH
Trade Date: June 28, 2024 Trade Time: 1:24 pm - DKNG Sep24 Strike: 38 Calls premium: $157,950 ASK BULLISH
Trade Date: June 28, 2024 Trade Time: 9:57 am
Note: If no date is listed after the month, it’s the monthly expiration (third Friday).
Lance Ippolito Trading Team
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 Order Flow Is on Fire, and Earnings Season Is Just Getting Started
I recently teamed up with Jack Carter to share some of the explosive earnings opportunities I believed would hit this week…
Specifically, we looked at the tickers reporting — including CCL, FDX, MU and NKE.
As a matter of fact, we’ve seen a TON of orders this week in earnings plays, and the stock of the week: Chewy (CHWY)! The order below hit right before the stock rocketed 30% higher Thursday!
The Chew insanity aside, earnings season is just getting started!
Obviously, we won’t just randomly take a gamble on these tickers.
Instead, we’ll be using a special tool, along with my earnings indicator, to figure out which direction these stocks might move.
While I cannot promise future returns or against losses, if you want to see how it all shakes out…
And how you can start applying this same tool to monitor order flows on your favorite stocks…
