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Is Roaring Kitty About to Set Off ANOTHER GameStop Squeeze?

by | Jun 13, 2024


We have a BIG Tesla event at 2 p.m. ET… But aside from Tesla, let’s have a quick chat about what the bulls and bears are buying in bulk…

Adobe (ADBE) reports after the close today… if you want to take out a second mortgage to trade these pricey options.

I don’t — though, I should have done just that to trade Supermicro Computer (SMCI) earlier today!

As for Thursday’s top order flow…

Affirm (AFRM) is seeing more bullish activity after taking a dive today. It was announced earlier this week that the buy now, pay later service is coming to Apple Pay later this year, so there could be a long-term opportunity here. 

But what about the GameStop drama? Well, we have plenty of analysis on that, too…

Is Another Squeeze on the Horizon?

It appears 58,145 of the June 21 expiration, $20 strike calls — about half of Roaring Kitty’s position — were closed Thursday. In my opinion, his account or E-Trade would not take a 12-million-share position at expiration, about $312 million worth of GME stock. 

It will be interesting to see if he closes the rest of the calls today, or keeps them on with the intention of letting them expire next week to take a stock position.

If he holds, I would not be shocked to see GME squeeze into later next week. Implied volatility will probably drop drastically in the options today, so they could become more reasonable to trade. For example, market makers are implying a $9.78 move up or down in GME stock for next week’s expiration.

The big question on everyone’s mind is whether Mr. Kitty will continue to hold, or if he’s preparing for an exit. His moves have always been a catalyst for massive market reactions, and this time is no different. 

As we keep a close eye on his positions, the potential for another short squeeze is there.

If you’re trading GME, watch the implied volatility and be ready for some serious action. This story is far from over, and there could be significant moves in the coming days. Check out what GME orders are hitting today down below!

Just remember that this is risky business. The potential is there to make a lot of money… or go broke if you oversize and don’t respect the risk. 

Top Order Flow: 

  • GME Jun24 Strike: 38 Puts premium: $170,800 ASK BEARISH
    Trade Date: June 13, 2024 Trade Time: 11:32 am
  • GME Jun24 14th Strike: 27 Calls premium: $112,800 ASK BULLISH
    Trade Date: June 13, 2024 Trade Time: 10:47 am
  • GME Jun24 Strike: 34.5 Calls premium: $226,800 ASK BULLISH
    Trade Date: June 13, 2024 Trade Time: 10:09 am
  • AFRM Nov24 Strike: 50 Calls premium: $554,415 ASK BULLISH
    Trade Date: June 13, 2024 Trade Time: 9:47 am
  • ADBE Jun24 14th Strike: 440 Puts premium: $154,380 ASK BEARISH
    Trade Date: June 12, 2024 Trade Time: 1:41 pm
  • ADBE Jun24 14th Strike: 470 Calls premium: $176,320 ABOVE ASK BULLISH
    Trade Date: June 10, 2024 Trade Time: 11:29 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, 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. Urgent Tesla Briefing Starting NOW!

With the huge Elon Musk news and swing in shares of Tesla today… 

I HAD to host a one-time briefing — go here to attend today’s 2 p.m. ET event!

I’ve been waiting months for this opportunity… 

And it’s FINALLY here! 

Join me LIVE right now as I show everyone the No. 1 way to trade Tesla TODAY!

See You In a Few Minutes

WRITTEN BY<br>Lance Ippolito

Lance Ippolito

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