We’re seeing some big bombs hit the tape despite the low trade volumes ahead of the Thanksgiving holiday and the big traders still sitting at their desks have been taking advantage!
Shares of farm equipment giant Deere & Co. (NYSE: DE) dropped around $15 at the open after this morning’s earnings release.
Company officials forecast guidance for 2024 that came in below Wall Street’s expectations sending as the weekly 365 puts we saw hit Tuesday’s scanner went into orbit!
And that’s not the only explosive action on the radar Wednesday — the bears were out in force, shelling out close to $1 million of put premium on our old friend Bank of America Corp. (NYSE: BAC). Those puts go all the way out into May, so lots of time here on a potential recession play for Q2 2024.
And the buffet doesn’t end there, if you’re looking to heap more trades on your plate, be sure to check out the video.
Wednesday’s Top Order Flow:
- BAC May24 Strike: 30 Puts premium: $938,952 ASK BEARISH Trade Date: November 22, 2023 Trade Time: 10:02 am
- IQ Mar24 Strike: 7.5 Puts premium: $126,000 ASK BEARISH Trade Date: November 22, 2023 Trade Time: 10:07 am
- XOM Dec23 Strike: 102 Puts premium: $106,560 ASK BEARISH Trade Date: November 22, 2023 Trade Time: 10:05 am
- AAL Mar24 Strike: 13 Calls premium: $556,465 ASK BULLISH Trade Date: November 22, 2023 Trade Time: 12:30 pm
Have a great weekend! Enjoy some time away from your screens and I’ll see you Monday!
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. For a Short Time ONLY — It’s Back!
Hey, trader! It’s your Unusual Options Professor… Lance Ippolito!
And I just wanted to tell you to get ready…
Because at 1 p.m. ET on Wednesday, Nov. 22, we’re bringing back my awesome “Unusual Options Secrets” training class.
The last time we hosted this particular training event was November of last year…
And no joke… it was one of the BEST events we had in 2022.
A ton of people showed up and walked away with so much value — I literally gave away all my best stuff.
I showed everyone…
- How to read and track unusual options activity using a free online scanner.
- How unusual options can give you the THREE most important elements of any trade.
- And I discussed the power of out-of-the-money options…
And since last November, you have been asking to do it again…
