Want to live trade the close with me today? Of course you do! Join me at 3 p.m. ET and let’s cover some great trade ideas during the last hour!
Before we get into today’s massive trade, I’m going to do an open house and live trade the last hour today, and everyone’s invited! Just hit that link above this section and I’ll see you at 3 o’clock!
As for today’s monster trade… it’s a familiar name for 2024…
Supermicro Computer (SMCI).
This beast of a stock has been on an absolute tear this year, up over 220% — which is about 50% more than Nvidia (NVDA), by the way…
And with shares popping nearly 6% this morning, the big-money traders were back at it in this stock!
Seconds after 10 a.m. ET, this BIG $570K order hit in the weekly $950 strike calls… And moments after that, shares popped from just under $913 all the way to $937 — BANG!
This has to be the best reaction to big option flow of the day — what an unbelievable move…
We also caught some interesting flow in elf Beauty (ELF), which we’ve seen hit the scanner a couple of times in the past week…
With shares already up just over 8%, pushing shares above $211, we saw a bullish trader make a move on the November $270 strike calls.
Just last week, traders were hitting the September $210 and $185 calls, and shares have popped over 15% since then — and that’s how you trade order flow!
We included the SMCI and ELF calls, as well as a downside play on SMCI. If the stock keeps running, I’ll catch some FOMO…
But chip and AI stocks look overextended in the near term, so be careful out there.
That’s all for today — be sure and join me at 3 p.m. ET for some good old fashioned live trading, and let’s see what’s hitting the scanner the last hour before the markets close until Thursday.
Tuesday’s Top Order Flow:
- SMCI Jun24 Strike: 950 Calls premium: $569,737 ABOVE ASK BULLISH
Trade Date: June 18, 2024 Trade Time: 10:01 am - SMCI Jun24 28th Strike: 855 Puts premium: $490,000 ASK BEARISH
Trade Date: June 18, 2024 Trade Time: 11:17 am - ELF Nov24 Strike: 270 Calls premium: $345,000 ASK BULLISH
Trade Date: June 18, 2024 Trade Time: 12:13 pm
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. We Saw This With AMD, UAL and CHWY…
If you’ve been with me past month, you know we’ve been tracking down the “smart money” rotations.
Basically, I keep a close eye on which industry groups are seeing big piles of cash flowing in from institutional investors.
Because when an industry group gets flooded with cash, it can trigger some exciting momentum moves in the strongest stocks…
Just like we saw two months ago in the semiconductor industry, with a 19% gain on AMD in just two days…
Same thing happened last month in the travel industry, where we saw a 28% pop in United Airlines…
Again just a few days ago, we saw the same rotation into the retail industry, and quickly took a 30% gain on Chewy in two days.
Granted, there were smaller returns and trades that did not work out..
But, I’m noticing it happening again this week.
Check This Out and See What I Mean
Past performance is not indicative of any future results. Trade at your own risk. From 4/2/24 – 6/11/24 on live trades the win rate is 68%, the average return is 6.05% on the options over a 2 day average hold time.
