Earnings season may be winding down, but there’s still plenty of action hitting the ol’ News Flow Scanner!
And a stock hit today that we’ve traded before but haven’t seen in quite some time is On Holding (ON), an athletic apparel company that makes those fancy running shoes.
And this stock is right up my alley — it’s fairly cheap, and these calls are in the money!
With ON set to report Tuesday before the open, a big-money trader stepped in to snag the weekly expiration, $34 strike calls with shares trading right around the $34 mark.
Now, does this mean this trade will be a winner? Heck no! There’s no such things as guarantees in trading. That’s why we always stress risk management around here.
But here’s why this order could be worth a look…
Like I said, it’s cheap, and it’s in the money. Market makers are implying a $1.87 move higher or lower, so it ticks off a lot of boxes to be among an order worth considering.
We also just got a buy signal on the Master Indicator’s daily chart, which looks bullish so far in 2024.
Just remember that this weekly option can and will go to $0 if wrong — so respect that risk!
We also saw a buyer step in with a bearish bet on Boeing, and a massive $3 million order in CrowdStrike — fellow cybersecurity names SentinelOne (S) reports on Wednesday, which we covered here last week!
Monday’s Top Order Flow:
- ONON Mar24 Strike: 34 Calls premium: $129,528 ASK BULLISH
Trade Date: March 11, 2024 Trade Time: 1:20 pm - BA Mar24 Strike: 192.5 Puts premium: $105,920 ABOVE ASK BEARISH
Trade Date: March 11, 2024 Trade Time: 12:49 pm - CRWD May24 Strike: 310 Calls premium: $3,050,919 ABOVE ASK BULLISH
Trade Date: March 11, 2024 Trade Time: 11:30 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.
P.S. Cheat Code Indicator Tells When to Buy and Sell
Hey Trader, Lance here.
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