TRADE THE CLOSE, PENNY OPTIONS SCANNER EDITION — LIVE AT 3 P.M. ET TODAY!
It’s been an incredible if stressful first few days with the Penny Options Scanner…
We had some tech issues but the team worked tirelessly to get things fixed up, and everything is firing on all cylinders to kick off the new trading week!
And because of that, we’re going to go LIVE at 3 p.m. ET for a special edition of Trade the Close,” so come join us and see what’s hitting!
As for what we’ve seen so far today… and the past few days for that matter…
We’ll look to Macy’s (M), which reports earnings after the close on Wednesday…
And we’ve seen several bullish orders in this ticker the past few days from both the Penny Options and News Flow scanners!
And what we’ve seen most is options expiring this week, next week and Aug. 30 in the $17 and $18 strikes, with shares trading just under $18 this afternoon. Market makers expect a move of $0.84 higher or lower.
We also saw a couple of orders in Palo Alto Networks (PANW), which reports after the close today. The orders were in the $340 and $332.50 strike puts expiring in September and this Friday, respectively.
Puts are often downside hedges in case the stock tanks on earnings and the buyer is long the underlying. We do sometimes like puts that are in the money, like the $340 strike. Market makers expect a move of $28.67 higher or lower following the report.
PANW also took a major dive following its report in February, falling from $366 a share all the way to $261 before rebounding and marching all the way back to $340…
As always, respect the risk! The plays expiring this week can and will go to $0 if wrong!
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.
- M Aug24 30th Strike: 17 Calls premium: $721,034 ABOVE ASK BULLISH
Trade Date: August 16, 2024 Trade Time: 11:27 am - M Aug24 30th Strike 18 Calls premium: $77,376 ABOVE ASK BULLISH
Trade Date: Aug. 19, 2024 Trade Time: 10:27 a.m. - PANW Sep24 Strike: 340 Puts premium: $247,285 ASK BEARISH
Trade Date: August 19, 2024 Trade Time: 12:22 pm - PANW Aug24 23rd Strike: 332.5 Puts premium: $176,670 ASK BEARISH
Trade Date: August 19, 2024 Trade Time: 10:26 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. Trade the Close — LIVE at 3 p.m. ET TODAY!
BOOM — more wins this morning thanks to the Penny Options Scanner…
If you’re ready for more FREE trades, then join me LIVE at 3 p.m. ET TODAY, Aug. 19, for “Trade the Close”!
We’ll pull up the Penny Options Scanner…
And see what $1.00 or less options orders are hitting…
Place some trades… and hope for the best!
Now, obviously, not all trades are winners…
But when looking at our recent track record over the past week…
