We’ve been banging out great trades in this newsletter, and I’d like to share a whale trade I’m hunting for this earnings season.
First, a disclaimer…
This is a high-risk, high-reward setup because it’s an earnings play. But I’m in a dice-rolling mood, and I think it could be the trade of the quarter…
I’ll probably end up having about $30K in this trade, and I’m looking to turn that into $100K.
Now, I can take this risk. That doesn’t mean that you can, especially if you have a small account.
Because this is an earnings play, so you have to know that this trade could easily go to $0 after the company reports.
I’m just sharing what I’m doing…
Any time this stock dips into expiration — say the market gaps down or the stock dips 1-2% — I’m going to add calls to my position…
This company reports earnings on Oct. 29, and I’m eyeing the Nov. 1 expiration, $11.50 strike calls…
And that company is Snapchat (SNAP).
I’m swinging for the fences on this one, and I think SNAP can rally 25-30% on earnings because it’s a big gapper and it has high short interest. So like I said, I’m loading up on these calls whenever it dips.
We had a big $264K position in this strike and expiration hit the News Flow Scanner last week, so I’m in the mood to roll the dice!
We also saw an earnings play in United Airlines (UAL) after the close today…
A trader snagged the Oct. 25, $63 calls with shares trading just under $64 at the open. Airlines are strong today — the US Global Jets ETF (JETS) is up about 1.5% at lunchtime, and we saw a bullish order in weekly Delta (DAL) calls as well.
Finally, we like when weird tickers show up on the scanner that you hardly if ever see. And we got one of those late Monday in the form of DigitalBridge Group (DBRG)…
This one could be worth a look for the Friday expiration!
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.
- SNAP Nov24 1st Strike: 11.5 Calls premium: $264,088 ASK BULLISH
Trade Date: October 11, 2024 Trade Time: 9:47 am - UAL Oct24 25th Strike: 63 Calls premium: $140,605 ASK BULLISH
Trade Date: October 15, 2024 Trade Time: 9:33 am
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.
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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. LIVE EVENT ALERT! Tesla’s New Bull Cycle
I’m heading into the live room for today’s call that starts at 1 p.m. ET SHARP!
That’s when I’ll share my TSLA price target and trading plan as we roll into the election on Nov. 5.
Just go here to join the room!
Obviously, I’m not in a position to guarantee gains or block financial losses because trading is predictably unpredictable.
But with the election less than a month away…
And momentum appearing to build in anticipation of a Trump presidency…
I believe the next few weeks — and beyond — will be explosive.
