I’m revealing my No. 1 stock for the rest of June, LIVE at 1 p.m. ET on Friday — save your seat here!
You can apply Average True Range to basically any trading platform, and I use ATR to help me find the best stocks to target for day and swing trading — my bread and butter!
ATR measures the high to low range of a stock’s movement over the past 14 days, helping traders anticipate potential daily price movements.
Stocks with high ATR — high-fliers like Tesla, Nvidia, AMD, Netflix, Facebook, Google and Amazon — are attractive for day and swing trading options.
When ATR expands, there’s often a follow-through in stock price movement, creating trading opportunities.
A bigger move in ATR than expected can lead to increased implied volatility, causing market makers to adjust options prices, and traders can really make some good ROI.
Check out my video up top for the full rundown in just 5 minutes!
As for the top flow of the day, we did catch one earning play in Lululemon (LULU) that’s pretty far out of the money. Usually when I see a put that far OTM, I assume it’s a hedge against a long stock position in case it tanks on earnings… think of it as insurance.
2:30 p.m. ET update: We got another put order, this one much closer to the money, at 2:20 p.m. ET.
Market makers expect a move of about $31.15 higher or lower, and shares are trading above $304 today.
Cienna (CIEN) reports before the open Thursday and it’s another put with shares up over 3% today. This is a pretty hefty sum, however, and much closer to the money with market makers expecting a move of $4.83 higher or lower.
Finally, with Snow (SNOW) down 6% this morning, this trader is looking for a rebound…
Thursday’s Top Order Flow:
- LULU Jun24 7th Strike: 277.5 Puts premium: $107,910 ASK BEARISH
Trade Date: June 5, 2024 Trade Time: 9:47 am - LULU Jun24 7th Strike: 287.5 Puts premium: $163,000 ASK BEARISH
Trade Date: June 5, 2024 Trade Time: 2:20 pm - CIEN Jun24 Strike: 45 Puts premium: $472,205 ASK BEARISH
Trade Date: June 4, 2024 Trade Time: 10:10 am - SNOW Jul24 Strike: 130 Calls premium: $184,525 ABOVE ASK BULLISH
Trade Date: June 5, 2024 Trade Time: 10:48 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 and scammers.
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. 5 Stocks That Could Explode This Month
Graham Lindman and Roger Scott teamed up today for their BIGGEST blockbuster event of the summer!
If you missed out on Summer Wealth Windows… you can catch the jam-packed recording right here.
You’ll want to do it ASAP because they just gave away FIVE stocks with “Wealth Windows” hitting as soon as next week!
That means these five stocks could be gearing up for an explosive move to the upside, just like they have year after year in the past…
And That’s Based on DECADES of Data!
The profits and performance shown are not typical and you may lose money. The trades expressed are based on historical signals from the new Data Mining Software to demonstrate the potential of the trading tool. While we have been using the Data Mining Software with great success, we cannot guarantee any future results.
