Tesla’s historic rally is just getting started — see how I’m trading it at 3 p.m. ET!
Through just the first 1 ½ hours of trading Thursday, we saw some major fireworks, particularly in Palantir (PLTR)…
PLTR exploded as much as 7% higher as shorts were getting their booties squeezed. All market makers short the $100 strike calls had to buy back the stock in pure panic mode with shares shooting straight up!
And I just so happened to have shared this trade idea in my public Telegram channel…
And with PLTR blasting off, I sent another message to say I was taking profits — 37% in just 20 minutes.
And that’s how you trade breakouts!
I’ve been closing out winners all morning — all from the News Flow Scanner — so let’s take a peek at what’s hitting today!
Amazon (AMZN) is of course the biggest beast reporting after the close… But those babies cost a fortune — in-the-money weekly calls are extremely risky and going for about $7.55 a contract this afternoon — and we like to keep things cheap around here.
Because if wrong or AMZN doesn’t move enough, you just flushed $755 down the drain. Of course, everyone clicks their own mouse and if that’s what you want to trade, more power to you.
But we’ll keep things as cheap as we can here as we help educate the masses on how to trade options!
And let’s start today with Pinterest (PINS), which reports after the close.
We saw a pretty darn big order in the PINS Feb. 7 expiration, $32 strike puts — about $669k in premium with shares trading right around $33.50 this afternoon.
Market makers expect a move of $4.33 higher or lower on the announcement, so these are well within that range.
However, keep in mind that we’ve seen big orders go bad because big PINS orders have missed before. I’m going with a 2-lot in the $34 weekly puts. Why just a 2-lot? Because I fully expect the stock to go up and these to go to $0 — but we love rolling the dice around here!
Next up, this stock isn’t reporting earnings but it’s not been easy to find cheap earnings plays for tomorrow, so we’ll go with SoFi (SOFI), which has the bulls looking to mount a comeback after the stock dropped as much as 4.5% today.
We saw three straight bullish orders in the Feb. 28 $15 calls in a span of about 15 minutes.
With SOFI making a sizable dip today, this could be a good rebound play and contracts are going for around $0.75.
We had to get this out early today so there weren’t a ton of juicy orders in low-priced tickers, but how about this cheap lotto ticket…
Back on Jan. 24, we spotted an order in the Newell Brands (NWL) February $11 strike calls. Market makers expect a move of $1.28 higher or lower and shares are trading at $9.80 this afternoon. Shares were around $10.40 when this order was bought.
There’s almost 3,100 contracts sitting in open interest, and the $11 strike is going for about $0.25 a contract this afternoon, so it could be worth a flier — the $10 strike is about $0.60 a contract, so also pretty cheap if you like rolling the dice…
As I said, we LOVE to do that around here — but we also respect the risk and know these can and will go to $0 in a flash if wrong or if the stock doesn’t move enough!
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.
Note: If no date is listed after the month, it’s the monthly expiration (third Friday).
The team at Lance Ippolito Trading
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
Important Note: No one from The TradingPub team or any of its associated brands will ever contact you directly on Telegram.
*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 Out on Tesla’s Historic Rally
I’m in the live room, notes in hand, ready to show you why we’re likely in for a historic rally on Tesla!
It’s not just because we’re at a major support zone…
There’s a bigger game at play here to trigger Tesla’s next leg up, which could run until the end of the year.
Although it’s impossible to guarantee future returns…
If you join me live now, not only will I reveal this larger game at play…
You’ll also see my first — of many — trades to take advantage of this potentially historic rally.
PLUS, you’ll get a chance to take the trade with me TODAY.
Quickly head on over here now to join me live.
