>> THREE trade alerts are dropping at 3 p.m. ET TODAY — check out this deal!<<<
First, I shared another educational video today that covers credit versus debit spreads, how and when to use them and more!
Be sure and check that out here — and if you like the content, please smash those Subscribe and like buttons on my YouTube page while you’re there! I also did a video this week showing everyone how to set up their Thinkorswim platform like mine so you can trade like a pro!
Now…
Some of the year’s biggest stocks like Dell (DELL) and Nvidia (NVDA) have been getting hammered the past couple of days…
I mentioned on Telegram that I wouldn’t be shocked to see a nice bounce coming for these names. And wouldn’t you know, not 30 minutes later, NVDA spiked 2.3%, while DELL was bouncing 3.5%.
The weekly NVDA $127 calls were an easy double after a $3 spike in the underlying — BANG!
We also saw a big-money bull pick up some Supermicro Computer (SMCI) calls expiring next week to the tune of $602K in premium.
With CarMax (KMX) rising slightly today on the heels of its latest earnings report, we saw a BIG $2 million short order in cousin stock Carvana (CVNA). These
Puts are often hedges against long stock positions should the underlying tank on earnings. I prefer to see the puts in the money, and these are about $16 out right now with market makers expecting a move of just $8.57 higher or lower by November.
Carvana is up 115% year to date. So while it’s a huge bet, it could still be a hedge fund protecting the gains it might have made this year on CVNA.
That, or they know something we don’t!
We also saw a big order in PDD, which is down about $18 off recent highs from a few weeks ago.
As always, be careful out there!
Order Flow:
- PDD Jul24 12th Strike: 148 Calls premium: $739,863 ABOVE ASK BULLISH Trade Date: June 21, 2024 Trade Time: 11:26 am
- CVNA Nov24 Strike: 95 Puts premium: $2,070,000 ASK BEARISH
Trade Date: June 21, 2024 Trade Time: 11:51 am - NVDA Jun24 28th Strike: 128 Calls premium: $360,000 ASK BULLISH
Trade Date: June 21, 2024 Trade Time: 12:34 pm
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.
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The profits and performance shown are not typical, we make no future earnings claims, and you may lose money. From 9/17/21 through 6/13/24 the average win rate is 70.3%. The average weighted rate of return on options trades was 11.7% over a 3 day average hold time.
