The holiday-shortened week, with nary an earnings play to speak of, is nearly behind us. And things are about to pick up next week…
Things start slowly the first couple of days, but we have PepsiCo (PEP) and Delta (DAL) reporting earnings on Thursday, and then the big banks going Friday before the open.
That’s when JPMorgan (JPM), Wells Fargo (WFC), Citi (C ) will be up with their second-quarter reports.
Trading bank stocks is generally pretty boring because they don’t normally move that much, and we haven’t seen much in the way of these tickers hitting just yet aside from a C call that hit Tuesday.
It does capture earnings and is right smack in the money with shares trading around $64 Friday.
We’re seeing a lot of tech stocks hit today, including multiple, sizable orders in Facebook parent Meta Platforms (META), and Advanced Micro Devices (AMD) with the stock up about $18 a share since Monday.
None of the orders are particularly big as far as premium for a stock like this, but we did see nine different orders by lunchtime, eight of them calls. We included the biggest order below, but keep in mind that it is short-dated, expiring next week.
Respect that risk because it can and will move fast!
Top Order Flow:
- C Jul24 26th Strike: 64 Calls premium: $210,878 ABOVE ASK BULLISH
Trade Date: July 2, 2024 Trade Time: 1:33 pm - META Aug24 2nd Strike: 540 Calls premium: $615,600 ASK BULLISH
Trade Date: July 5, 2024 Trade Time: 11:30 am - META Aug24 2nd Strike: 535 Calls premium: $554,405 ABOVE ASK BULLISH
Trade Date: July 5, 2024 Trade Time: 11:15 am - AMD Jul24 12th Strike: 175 Calls premium: $205,433 ABOVE ASK BULLISH
Trade Date: July 5, 2024 Trade Time: 10:36 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.
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Disclaimer: The profits and performance shown are not typical and you may lose money. From 4/17/24 – 6/19/24 the result for trade alerts issued in real time was a 77% win rate on 234 trade alerts, with an average return of about 2% on the underlying stock including winners and losers with an average hold time of 3 days. When hypothetical options were applied to trade alerts, the average return was 22.3% over a 3-day hold time. Performance is not indicative of future results. Trade at your own risk and never risk more than you can afford to lose.