On the heels of Monday’s newsletter where we discussed Marathon Digital Holdings (MARA), BANG — we saw a major pop Tuesday morning in the two orders covered…
Thursday’s newsletter hit your inbox around 3 p.m. ET, and it was posted it in my Telegram channel at 3:30 p.m., when the $29 and $32 calls above were both trading for $2.18, coincidentally.
Tuesday morning, they topped out at $4.28 and $3.88, respectively…
The crypto miners sold off sharply after the open, so you have to move fast to lock in those moves on the pop, especially in short-dated options!
But what about what’s hitting the ol’ News Flow Scanner today?
Well, Netflix (NFLX) is seeing aggressive buys in the weekly and April monthly expiration, $600 and $610 strike calls, respectively.
I’m itching to buy these but there’s only one problem…
NFLX options are like the mansion for sale on the water — I want to buy, I just can’t afford it!
The weekly option is going for about $7.50 at the moment this is being written. Not too crazy, but if you’re wrong, that $7.50 could be wiped out in no time since the expiration is just a couple of days away.
The April monthlies cost about $3K per contract, so these babies are out of my typical price range.
While the profit potential could be massive, with shares of Netflix trading right at $600 right now, I will respect the risk and stick with the girl I brought to the dance…
Short-dated, cheap options!
Earnings flow was fairly slow through Tuesday afternoon, but a short order hit in MARA, and a short order hit in CAVA on Monday that I included.
Remember, shorts are often insurance bets against long stock positions in case they tank on earnings.
Top Order Flow:
- NFLX Apr24 Strike: 610 Calls premium: $625,809 ABOVE ASK BULLISH Trade Date: February 27, 2024 Trade Time: 12:12 pm
- NFLX Mar24 1st Strike: 600 Calls premium: $295,915 ABOVE ASK BULLISH Trade Date: February 27, 2024 Trade Time: 10:24 am
- MARA Mar24 1st Strike: 29 Puts premium: $162,423 ABOVE ASK BEARISH Trade Date: February 27, 2024 Trade Time: 10:47 am
- CAVA Mar24 Strike: 49 Puts premium: $106,855 ASK BEARISH
Trade Date: February 26, 2024 Trade Time: 10:41 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.
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