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Dope Names Make for Amazing Day Trades in Both Directions

by | Sep 12, 2023

I don’t know about you guys, but I’ve been having a blast day trading the dope names — the pot stocks! — this week…

Pot stocks have been totally out of favor for years, but if you’re looking at market internals, this market sucks right now. The S&P 500 and Nasdaq aren’t really moving much at all…

But names like Canopy Growth Corp. (Nasdaq: CGC) on Monday, and then Aurora Cannabis Inc. (Nasdaq: ACB) on Tuesday  have been making some insane moves to both the up- and downsides. 

Check out CGC over the past two days. 

It was up 55% at one point on Monday, so I bought some calls, and then it was up 80%. Then on Tuesday, the stock was down 15%… then rallied 19% to be up 4% on the day… and then it was down over 20% on the day less than two hours later…

CGC stock chart

And now ACB: 

ACB stock chart

So the penny-wide options for day trades like this are perfect for quick moves — just don’t get married to any of these positions and always respect the risk!

We also saw some calls in movie chain AMZ, and an earnings bet hit today on Nike, which doesn’t report until the day before the option expires on Sept. 29.

Tuesday’s Top Order Flow: 

  • AMC Entertainment Holdings Inc. (NYSE: AMC): Sept. 29, $11 CALL.   
  • Macy’s Inc. (NYSE: M): October $12 CALL. 
  • Nike Inc. (NYSE: NKE): Sept. 29, $98 CALL. 
  • And more!

P.S. Glued to Your Charts All Day? Read This…

I’m showing folks how to FLIP some of Wall Street’s biggest transactions…

And turn them into trades that target an extra $500 in cash or more based on a $2,500 starting stake.

This new way to “flip” some of Wall Street’s BIGGEST transactions into what could be extra cash is all thanks to a phenomenon happening all across Wall Street…

You see, early last year, there was a monumental shift in the markets…

One that made it nearly impossible for the average Joe to have any sort of edge…

But this shift opened up a new door for regular folks to grab their slice of the millions, sometimes even billions of dollars going into specific stocks each day.

All Thanks to the ‘Knockout Line’

From 5/19/22 through 9/7/23 on closed trade signals, the average win rate is 75%. The average return per position (winners and losers) is 9.72% and over a 31.73%.average winner with a six-day average hold time. Past results are no guarantee of future results and you can lose money.

WRITTEN BY<br>Lance Ippolito

Lance Ippolito

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