We’re seeing a nice rally on the heels of Thursday’s tech dump, which just goes to show…
Forget what the so-called “experts” are saying.
Tesla (TSLA), Match (MTCH) and Chewy (CHWY) are still rising, making the “Bond King” Bill Gross look like a fool missing out on all the action after claiming these “meme stocks” have zero fundamentals…
Well guess what, Bill… It doesn’t matter!
If you want to downgrade and try to short these stocks, have fun! Because you’re going to get squeezed, which is exactly what we’re seeing in some of these names after Thursday’s dump…
Not only that, but earnings season is underway, and we’ve already smacked some home runs with the order flow we’ve shared in this newsletter and during the live Trade the Close event on Wednesday — we’re doing it again at 3 p.m. ET next Wednesday, so stay tuned!
As for what’s hitting the scanner heading into the weekend…
We saw a monster $1.3 million bearish bet in Taiwan Semiconductor (TSM), but it could easily be a hedge against a long stock position heading into the company’s July 18 report.
TSM is up 85% year to date, and the order is over $6 out of the money. It could very well be a hedge fund protecting some of its gains this year, so this one’s a bit risky.
It is, however, well within the market maker’s expected move of about $17.26 by expiration.
With Northern Trust (NTRS) surging over 2.7% above $89 a share and reporting before the open on July 17, we saw an order hit in the October monthly expiration, $90 strike calls.
And for a longer-dated play that captures earnings next week, we saw some December $17 strike calls with shares bouncing about 1.5% today.
Things are just now beginning to pick up with a massive slate of earnings on deck for next week, so stay tuned!
Order Flow:
*This is for informational and educational purposes only. These are not official alerts issued by Lance, but rather some interesting orders picked by the team at Lance Ippolito Trading.
There is inherent risk in trading. Trade at your own risk.
- NTRS Oct24 Strike: 90 Calls premium: $123,580 ASK BULLISH
Trade Date: July 12, 2024 Trade Time: 11:00 am - TSM Jul24 26th Strike: 182.5 Puts premium: $1,294,210 ABOVE ASK BEARISH
Trade Date: July 12, 2024 Trade Time: 10:39 am - KEY Dec24 Strike: 17 Calls premium: $120,000 ASK BULLISH
Trade Date: July 11, 2024 Trade Time: 2:04 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. Tesla Is Ripping Again Today…
Aside from Thursday’s swift fall on news that Tesla is postponing its Robotaxi unveiling to October, this stock has been on an absolute TEAR…
Soaring past $200 and up to $270 Thursday before the news broke like a speed bump — and hopefully not a roadblock…
We’re back up to $250 this afternoon, and, we’re seeing a boatload of six-figure, bullish orders come through the News Flow Scanner…
Which indicates even more extreme price action could be on the horizon.
That’s why I pumped to show you how I’m approaching this Tesla trade.
As you’ll soon see, I’m using the same setup that’s delivered wins like 40.35%, 29.19%, even 23.23%… in as little as a single day!
Granted, everyone knows that we’ll have winners and losers, which is a fact of life in trading.
But based on my analysis, this TSLA setup could have some serious legs.
Go Here and See How I’m Approaching TSLA
Past performance is not indicative of any future results. Trade at your own risk. From 7/20/23 – 7/9/24 on live trades the win rate is 68.4%, the average return is 7.31% on the options over a 4 day average hold time.
