>>>I just issued a brand-new Tesla trade alert at 2 p.m. ET TODAY — go here!<<<
We didn’t see much in the way of earnings flow for companies reporting this week, but we did catch some interesting flow in a name reporting next week…
First and foremost, let’s take a look at a monster order to the tune of $631K in Delta (DAL) calls.
Delta has had a pretty good 2024 so far, up about 20% year to date with a nice 3% bounce heading into this afternoon. The company reports earnings next Wednesday, April 10, before the open. DAL isn’t one of those stocks we see every day on the News Flow Scanner, but we do see it probably a couple of times a month, but rarely that much premium.
Shares are trading in the $47-$48 range Thursday, and market makers are expecting a move of $6.50 higher or lower by the June monthly expiration, which is in range of the big order this bull bought: the June monthly expiration, $52.50 strike calls.
This is a longer-dated play, so keep that in mind ahead of earnings. If wrong, it will at least give some time to recover, and the option is cheap, trading around $1.35 a contract as of 1:20 p.m. ET.
Could be worth a look if this fits a trader’s risk profile, or maybe even some shorter dated, in-the-money calls. Just remember that short-dated calls (like weeklies) can and will go to $0 fast if wrong!
We also saw some Generac (GNRC) a trader dropped darn near a million bucks on that I was too slow to get in on…
But I have my eye on them in case we see a dip! And finally, Micron (MU) saw three call buys after dipping 1.3% on the open — if a chip stock dips in this market, traders are all over them!
Thursday’s Top Order Flow:
- DAL Jun24 Strike: 52.5 Calls premium: $630,696 ASK BULLISH
Trade Date: April 4, 2024 Trade Time: 11:48 am - GNRC May24 Strike: 145 Calls premium: $991,400 ABOVE ASK BULLISH
Trade Date: April 4, 2024 Trade Time: 11:05 am - MU May24 3rd Strike: 131 Calls premium: $164,160 ASK BULLISH
Trade Date: April 4, 2024 Trade Time: 12:52 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. Trade Tesla on This Day of Each Week…
Navigating the stock market can feel like stepping into a world of peculiarities.
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Check Out My Tesla Briefing Here!
*The profits and performance shown are not typical, we make no future earnings claims, and you may lose money. The trades expressed are from historical data in order to demonstrate the potential of the system.
