I’ll be trading the close and hunting for earnings plays, LIVE at 3 p.m. ET TODAY! Join the room here and let’s have some fun!
Welcome aboard, Stonkamaniacs, and get ready to trade the close with me, LIVE at 3 p.m. ET TODAY, Aug. 7!
Just go here to join the room.
Until then, let’s take a look at some earnings plays that hit the News Flow Scanner. When it comes to the scanner, odd orders catch our attention, and we have a couple of “odd” orders today…
Literally!
First, we saw some puts in Monster (MNST), the company that makes the Monster Energy drinks that our pal Jeffry Turnmire is so fond of.
This stock does hit the scanner occasionally, especially during earnings season, so it’s not a big surprise. But here’s the intriguing part…
The puts are firmly in the money in the weekly $51 strike, with MNST trading right at $51 as of 1 p.m. ET. Puts are often downside hedges against long stock positions, and this could very well be that.
But we do like puts that hit the scanner that are in the money, and the premium is pretty hefty at $475K, and the buyer paid above ask. Market makers are expecting a move of $4.83 higher or lower, so these COULD pay nicely if correct.
If wrong… they will likely go to $0.
So what do we do?
We respect that risk and trade small — IF at all!
Aside from that, we got two “odd” orders in something called Oddity Tech (ODD), and Tapestry (TPR). Neither of these stocks hit frequently if ever, so that also catches our attention.
It’s also the second bullish order we’ve seen in ODD this week, both with sizable chunks of cash invested.
We’ll catch you all at 3 p.m. ET to Trade the Close!
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.
- MNST Aug24 9th Strike: 51 Puts premium: $475,104 ABOVE ASK BEARISH
Trade Date: August 7, 2024 Trade Time: 10:06 am - ODD Dec24 Strike: 45 Calls premium: $530,000 ASK BULLISH
Trade Date: August 7, 2024 Trade Time: 12:05 pm - TPR Aug24 9th Strike: 38 Puts premium: $405,974 ABOVE ASK BEARISH
Trade Date: August 7, 2024 Trade Time: 10:33 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. What Does THIS Chart Tell You About the S&P 500?
The S&P 500 hit extreme panic selling levels early this week. Just look at this chart…
This means we could be heading toward the “Mother of all Pullbacks.”
Especially with the Fed potentially cutting rates as early as this September.
And if history is any indicator…
That means we could actually be heading toward a MAJOR reversal…
Just like the 194% surge we saw hit the Nasdaq starting in August 1998.
Fortunately, Graham has done the heavy lifting…
Leading to three main predictions for this leg of the bull cycle, including his:
- Top ETF.
- Top sector.
- Top stock.
Along with exact price targets and probabilities.
Of course, there are never any guarantees in the market. We can’t win every trade or avoid losses, which are part of trading.
But if we look at what’s happened in similar market scenarios…
We could be mere days away from some parabolic moves up.
If you have a few minutes…
And you know how important it is to make moves BEFORE market inefficiencies hit the mainstream…
Get Graham’s 3 Big Predictions Here
