Earnings, earnings, earnings — what a wild week… and the best year of trading in some time!
Did you catch what happened with Lyft (LYFT) earnings late Tuesday? The company reported after the close and the stock was up 15%, in line with market maker expectations. But then all of a sudden it shot up over 60% — which just goes to show how dominant algo trading is!
The CEO then revealed a snafu in the report that said the company was forecasting a 500-basis point (5%) expansion of its adjusted earnings margin for 2024…
Not so fast!
It was a typo, and the number should have actually been 50 basis points (0.5%), so the stock quickly dropped back to about a 15% gain.
In today’s video up top, I want to explain how you can lock in those after-hours gains and take some of that money off the table!
Back to this amazing market…
Chips are still where it’s at right now and I also like some retailers, some select energy companies while keeping an eye on the Russell 2000 (IWM) to see if it can catch a bid.
Precious metals also look horrible right now, but there could be some long-term opportunities popping up in gold and miners.
I wouldn’t take any big, BIG positions right here. I’m almost exclusively trading cheap, short-dated or straight up weekly options. If you start getting too big for your britches, that’s when bad things happen…
What do we have on tap today? How about some Yeti, HubSpot and a MASSIVE order in Micron calls that capture earnings next month!
Wednesday’s Top Order Flow:
- YETI May24 Strike: 50 Calls premium: $210,120 ASK BULLISH Trade Date: February 14, 2024 Trade Time: 12:39 pm
- MU Apr24 Strike: 92.5 Calls premium: $1,116,030 ABOVE ASK BULLISH Trade Date: February 14, 2024 Trade Time: 10:22 am
- HUBS Feb24 Strike: 620 Calls premium: $354,483 ABOVE ASK BULLISH Trade Date: February 14, 2024 Trade Time: 11:34 am
- INFA Feb24 Strike: 25 Puts premium: $123,200 ABOVE ASK BEARISH Trade Date: February 14, 2024 Trade Time: 2:40 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. New Opportunities Are Popping Up in TSLA Every Week
If you are currently holding shares of TSLA…
Or it’s a stock you trade frequently…
I’m exploring a new opportunity inside shares of Tesla this very week…
I’ll be talking about a couple strategies to deploy for TSLA, and if it’s a stock worth trading right now.
If you’d like to hear what I have to say, I just posted an Emergency Tesla Briefing.
