Earnings season is wrapping up before long, but we still have some big reports left, especially among retailers that begin reporting next week.
Earnings flow began trickling in Friday with the biggest name being in mega chain Target (TGT), which reports Tuesday before the open.
We’ll also see the likes of Ross (RST), Nordstrom (JWN), JD.com (JD), Foot Locker (FL), Big Lots (BIG), Costco (COST), BJ’s (BJ) and more on deck for the five trading days ahead.
TGT has had a rough couple of years following a massive run up after the pandemic, which saw it peak at $260 a share back in late 2021 before hitting a low just over $100 back in October 2023…
But things have been on the upswing since then and following a strong earnings beat in November, the stock has been steadily on the rise. In fact, since Nov. 13 into today, it’s up about 45%!
And a big-money trader stepped in to buy just over $100K worth of the March 28 expiration, $148 strike calls.
I always find some great opportunities to trade retailer earnings, so stay tuned!
Top Order Flow:
- TGT Mar24 28th Strike: 148 Calls premium: $101,520 ASK BULLISH Trade Date: March 1, 2024 Trade Time: 9:48 am
- CLS Mar24 Strike: 47.5 Calls premium: $123,840 ABOVE ASK BULLISH
Trade Date: March 1, 2024 Trade Time: 10:18 am - SE Mar24 Strike: 50 Puts premium: $202,400 ASK BEARISH
Trade Date: February 29, 2024 Trade Time: 2:05 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.
P.S. Platform X Says NVDA Is Still a Buy
It’s hard to dispute, but NVDA is clearly the king of the market these days…
In 2024 alone, the stock has rallied from under $500 to over $750.
But is it still a buy?
According to my Platform X trading system, it’s definitely still a buy. In fact…
A new buy signal was issued on Feb. 22. The last time I saw a signal was Jan. 8 — and the stock is up 60% since then.
Of course, a new signal doesn’t mean NVDA will rise another 60% because nothing is ever guaranteed on Wall Street.
But it certainly looks strong heading into March. There are also a handful of other stocks that just got buy signals.
And I’m going to share them at 2 p.m. ET On Tuesday!
Save Your Seat and Join the Action Here!
