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It’s the final five trading days before the Christmas holiday, but the week got off to a hot start with orders peppering the News Flow Scanner the minute the bell rang…
One of the early orders of note came in the form of weekly call options in FedEx, which reports earnings after the close on Tuesday…
FedEx was trading in the $281-$284 range most of the day Monday, so these $300 calls are a bit too far out of the money for my taste…
But, market makers are implying a move up or down of about $14.50, so it’s not crazy out of the money.
If you like an earnings lotto dice roll, these may be worth a look — but as always, you must respect the risk!
Another ticker that hit the News Flow Scanner seemingly nonstop Monday was our old friend Snap, the parent company of Snapchat, which has been on quite a tear the past few months.
Shares of SNAP are up 88% the past three months. Looking year to date, it’s only up 86%, so all of the gains have come basically since mid-September.
And the bears could be looking for a pullback, peppering the Jan. 24, February and March puts in teh $17, $19 and $15 strike puts, respectively, after shares started pulling back from a 5% bounce this morning.
We also saw a long bet in Amazon, and another short bet in Coupang, so be sure to check out the day’s top flow below!
Monday’s Top Order Flow:
- FDX Dec23 22nd Strike: 300 Calls premium: $162,830 ASK BULLISH
Trade Date: December 18, 2023 Trade Time: 10:05 am - SNAP Jan24 Strike: 17 Puts premium: $192,956 ABOVE ASK BEARISH
- Trade Date: December 18, 2023 Trade Time: 12:53 pm
- CPNG Jan24 Strike: 17 Puts premium: $186,395 ABOVE ASK BEARISH
- Trade Date: December 18, 2023 Trade Time: 12:45 pm
- AMZN Dec23 22nd Strike: 152.5 Calls premium: $158,714 ABOVE ASK BULLISH
Trade Date: December 18, 2023 Trade Time: 9:36 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.
P.S. Don’t Miss Today’s Event!
Just sending you a quick reminder about the live event at 4 p.m. ET TODAY, Monday Dec. 18!
We’re heading into one of the most profitable times of the year for the market, so I’m jacked up and ready to go!
Santa Claus is almost inbound, and I want to show you my No. 1 way to target extra cash from what we hope will be a nice Santa rally.
The room is open now…
