I’m on a ship sailing for the beautiful Florida Keys, so the internet is spotty… BUT, just for you guys, I woke up extra early to film a video to share some thoughts with all of you.
And the team will tack on some interesting plays hitting the scanner as we head into the last of the super juicy reports of this earnings season…
We were planning to cover four Rivian (RIVN) orders today that hit the Penny Options Scanner at the exact same time late Wednesday, which always piques our interest when we see this many orders.
That was until that play already blew up, ripping from about $0.65 a contract to more than $1.00 during a two-hour stretch from 10:50 a.m. to 12:50 p.m. today…
And what’s one thing we don’t do in options trading?
We don’t chase!
Once a stock has already moved darn near 5% in such a short span with the option bouncing 50%, that would be chasing. Sure, there could be more upside ahead, but more often than not, you’ll see a pullback.
We included the four orders from Wednesday below in case there’s a good pullback this afternoon and the stock starts picking up steam again.
The BIG company reporting earnings today is Broadcom (AVGO), which could make or break the sinking chip stock sector, largely on Nvidia’s (NVDA) 10% decline the past several days.
AVGO has fallen over 5% the past couple of days, and we saw two bearish orders hit the scanner today. But here’s the bad news…
One order is deep in the money, and one contract costs about $1,300 — no thanks! The second order is much, much cheaper, and just inside the market maker’s expected move of $9.44 higher or lower on the announcement.
However, it is a weekly option that can and will go to $0 if the stock rises or doesn’t fall enough. If you’re the dice rolling type, maybe you like that sort of stuff.
Finally, let’s end with a stock I discussed in today’s video up top… AST SpaceMobile (ASTS)!
What moves this thing’s been making!
This stock was just over $18 a share exactly one month ago, it topped $38.50 on Aug. 21 before falling back to $28, and then it exploded above $36 again on Wednesday before selling off today…
But that didn’t stop the bulls looking for a little dip buy!
In all, we saw about $930K invested in calls between four different orders… One of these expires tomorrow and one expires next week…
So what’s one thing we always do in options trading?
Respect that risk!
Even more so than usual because this is lotto ticket, meme stock gambling right here… which can be fun, but it can also wreck your account — and no one wants to see that.
Be careful out there and check out my video up top for my breakdown!
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.
- AVGO Sep24 6th Strike: 145 Puts premium: $157,589 ABOVE ASK BEARISH
Trade Date: September 5, 2024 Trade Time: 12:19 pm - ASTS Sep24 6th Strike: 25 Calls premium: $330,461 ABOVE ASK BULLISH
Trade Date: September 5, 2024 Trade Time: 11:37 am - ASTS Sep24 13th Strike: 30.5 Calls premium: $280,000 ASK BULLISH
Trade Date: September 5, 2024 Trade Time: 10:57 am - ASTS Oct24 Strike: 20 Calls premium: $204,000 ASK BULLISH
Trade Date: September 5, 2024 Trade Time: 10:36 am - ASTS Sep24 Strike: 28 Calls premium: $117,500 ASK BULLISH
Trade Date: September 5, 2024 Trade Time: 9:30 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. Looking for a New Opportunity in the Options Market?
Smart traders are placing smaller orders in cheaper options more frequently because they know they’re less likely to be tracked…
So as soon as I realized the smart money was focusing more and more on orders under $100K and options priced under $1.00 per contract…
I started building a new scanner to go “deep sea fishing” for these kinds of opportunities.
That’s what led me to:
- TDOC: 7% gain.
- LYFT: 20% gain.
- WBD: 62% gain.
Of course, there were smaller wins and those that did not work out… And I can’t guarantee you’ll ride every trade to new highs or avoid losses — which is impossible in trading.
But I’m guessing it’s only a matter of time until everyone finds out about this subtle shift in the options market…
The profits and performance shown are not typical, we make no future earnings claims, and you may lose money. From 5/13/24 through 7/31/24, the average win rate on live published trade alerts is 90%. The average rate of return on options trades was 53% over a 1.3 day average hold time.
