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Bulls Target Macy’s After Monster Retail Earnings

by | Nov 15, 2023

Retail giant Target sent a strong signal to markets during its earnings report Wednesday morning: The U.S. consumer is still strong. 

Target surged almost 20% Wednesday after reporting a double beat, which could have helped entire traders to jump on the retail train…

One thing that Target said was a particularly big seller last quarter? Beauty products — consumer discretionary products. 

You know what’s been strong lately? The Consumer Discretionary sector… Which brings us to Macy’s… 

A big-money trader stepped in and scooped up about $300K worth of the November monthly expiration, $14 strike call options with the stock trading in the $12.50ish range. 

Macy’s is set to report before the open Thursday, so as always, respect the risk in this earnings dice roll!

It could easily go to $0 if Macy’s misses or doesn’t impress enough. 

What else do we have in store for today? How about a sinking airline stock and resurgent EV-maker… 

Check out the day’s top flow below!

Wednesday’s Top Order Flow: 

  • M Nov23 Strike: 14 Calls premium: $300,240 ASK BULLISH
    Trade Date: November 15, 2023 Trade Time: 10:30 am
  • UAL Dec23 22nd Strike: 39 Puts premium: $152,207 ASK BEARISH
    Trade Date: November 15, 2023 Trade Time: 11:38 am
  • NIO Dec23 Strike: 6 Calls premium: $160,888 ABOVE ASK BULLISH
    Trade Date: November 15, 2023 Trade Time: 11:20 am

Note: If no date is listed after the month, it’s the monthly expiration (third Friday). 

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 and scammers. 

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. Miss Us Today? Don’t Worry… Tom Is LIVE Again Tonight! 

I joined trading legend Tom Busby this afternoon as he revealed the stock market’s best-kept secret — LIVE! 

And tonight, he’s doing it all over again! 

I won’t be there this time, but if you missed the worldwide debut this afternoon, you cannot miss this! 

Not only will Tom share his midweek market update at 8 p.m. ET TODAY, Nov. 15…

But he’ll also reveal the premarket candlestick buy signal he has relied on for THREE DECADES! 

This pattern reveals what could be the day’s strongest stocks before the market even opens…

So Join Tom at 8 p.m. ET TONIGHT

WRITTEN BY<br>Lance Ippolito

Lance Ippolito

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