What has already been an insane period for semiconductor stocks got even more explosive on Friday…
When it comes to the king of chip stocks, there are plenty of sexy names out there — get my top 9 chip stocks to watch in February at 2 p.m. ET on Monday!
But Nvidia stands atop the mountain. And with shares spiking over 5% Friday, NVDA orders lit up the News Flow Scanner like the Fourth of July.
One after another, all morning long, the bulls couldn’t get enough NVDA.
By 1 p.m. ET, we had already seen 32 orders, with 21 of them to the long side. Many of them were short-dated weekly plays, but we’ll throw a longer-dated one that catches earnings into the orders listed below.
Some of them weren’t so short-dated, stretching out as far as August with a couple of strikes topping $1,000 with NVDA in the $640 to $670 range today.
Don’t forget to tune in at 2 p.m. ET on Monday for a crucial chip stocks session — I’ll be joined by the great Jack Carter!
Chip stock frenzy aside, we’re also smackdab in the thick of earnings season, so what juicy earnings plays did we see heading into the weekend?
We saw two plays in companies reporting Monday before the open: Caterpillar and Estee Lauder. Both are in the money but also short-dated, so you know what to do…
Respect the risk involved because they could easily go to $0 if wrong!
Friday’s Top Order Flow:
- NVDA Feb24 23rd Strike: 695 Calls premium: $322,000 ASK BULLISH
Trade Date: February 2, 2024 Trade Time: 10:23 am - CAT Feb24 Strike: 315 Calls premium: $105,020 ASK BULLISH Trade Date: February 2, 2024 Trade Time: 10:13 am
- EL Feb24 Strike: 133 Calls premium: $176,150 ASK BULLISH Trade Date: February 2, 2024 Trade Time: 11:36 am
Note: If no date is listed after the month, it’s the monthly expiration (third Friday).
Lance Ippolito Trading Team
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*This is for informational and educational purposes only. There is inherent risk in trading, so trade at your own risk.
The great Jack Carter is joining me on Monday for one of our popular Overnight Options sessions.
And right now, our focus is on THE hottest corner of the market: semiconductor stocks…
And in particular, the ones that have upcoming earnings.
So far, semiconductors have been crushing their reports…
| Stock Ticker | Recent Earning’s Date | Earnings History |
| LRCX | 1/24/24 | BEAT |
| ASML | 1/24/24 | BEAT |
| INTC | 1/25/24 | BEAT |
| STM | 1/25/24 | Slight Beat |
| SMCI | 1/29/24 | BEAT |
And we expect the companies that announce next week to follow suit.
If you want to see how we plan to approach these stocks, please join us at 1 p.m. ET on Monday, Feb. 5.
Sign up at the link and my team will share NINE stocks we’re eyeing for next week.
