In times like this when the markets are so bid and overbought, you have to be even more picky than usual when it comes to options plays.
We saw a lot of chop Friday with very little directional bias into the late afternoon, but we still managed to spot a few juicy tickers hit the ol’ News Flow Scanner…
One such ticker still seeing a lot of action is Citigroup Inc. (NYSE: C), which I talked about in Thursday’s edition of this very newsletter.
After seeing three different orders totaling about $1.5 MILLION in premium, the bulls were back after C, which spent the entire day underwater, down about 1.5% to $49.50 a share at 1:30 p.m. ET…
This time, the bulls went after one of the same orders from Thursday, the February monthly expiration, $50 strike calls, and two others…
Namely the February $55 calls and the April $55 calls. It could very well be the same trader(s) buying the dip, but somebody sure expects C to catch a bid higher at some point.
Here are all of the C orders from the past two days for comparison.
Friday’s Top Order Flow:
- C Feb24 Strike: 50 Calls premium: $109,000 ASK BULLISH
Trade Date: December 15, 2023 Trade Time: 11:00 am - C Feb24 Strike: 55 Calls premium: $197,594 ASK BULLISH
Trade Date: December 15, 2023 Trade Time: 10:24 am - C Apr24 Strike: 55 Calls premium: $144,420 ASK BULLISH
Trade Date: December 15, 2023 Trade Time: 9:54 am - MARA Jan24 Strike: 22.5 Calls premium: $385,993 ASK BULLISH
Trade Date: December 15, 2023 Trade Time: 11:18 am - SYF Jan24 Strike: 35 Puts premium: $373,494 ABOVE ASK BEARISH
Trade Date: December 15, 2023 Trade Time: 10:19 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. Did You See My Session With Jack? It’s NOT Too Late to Get in on His Next ‘Unstoppable Income Trade’!
Hey, trader!
I sat down with Jack Carter this week and picked his brain on why his “Unstoppable Income Trade” has been so successful.
I know the story behind this trade and trust me, you’ll want to see exactly how it works.
Especially because he’s been rocking an 81% win rate over the past several months with this strategy.
And with Jack’s focus on income trading…
This is exactly the kind of setup you want to have in your arsenal entering the new year.
The profits and performance shown are not typical, we make no future earnings claims, and you may lose money. From 9/25/23 to 11/29/23 on live trades the win rate is 81%, the average return of winners and losers is 14% with an average hold time of 5 days.
