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Is SOUN the Market’s Next Big AI Stock or the Next Earnings Bust? 

by | Feb 29, 2024

While we are through the bulk of earnings season, there’s no sign of slowing down in the unusual options market…

And we have another unusual ticker that’s been tagging the News Flow Scanner all week: SoundHound (SOUN). 

SoundHound is the market’s latest red-hot AI darling. 

What was basically a penny stock on Monday with shares under $5 is now up 75% the past week, about 310% the past month and 220% year to date. 

As I discussed in Wednesday’s video, we’re seeing a lot of signs of a market top. And a stock bouncing over 300% in a month because it’s an AI company while AI is the buzzword of the year could be another one of those signs.

But there is something interesting about this stock’s options… they’re pretty cheap if you’re looking for an earnings dice roll!

Monday through this afternoon, we’ve seen 11 total orders hit the News Flow Scanner in SoundHound, nine of them calls, so the big money is bullish. 

Market makers expect a move around $2.15 higher or lower, and the stock is trading near $7.50 a share after today’s big pop, with the $8 calls being around $1.80 as of 1:30 p.m. ET Thursday. 

Those $6 puts listed below got hammered down quite a bit to $1.10 after that order was placed. 

As always, use proper risk management should you decide to trade this stock, because these options can and will likely go to $0 if wrong. 

We also saw some PlugPower (PLUG) calls for Friday morning, and a few bullish Zscaler (ZS) orders Thursday, which are listed below! 

Top Order Flow: 

  • SOUN Mar24 1st Strike: 8 Calls premium: $144,729 ABOVE ASK BULLISH
    Trade Date: February 27, 2024 Trade Time: 9:59 am
  • SOUN Mar24 28th Strike: 6 Puts premium: $174,300 ASK BEARISH
    Trade Date: February 29, 2024 Trade Time: 11:44 am
  • ZS Apr24 12th Strike: 245 Calls premium: $253,575 ASK BULLISH
    Trade Date: February 29, 2024 Trade Time: 10:18 am
  • PLUG Mar24 28th Strike: 3.5 Calls premium: $105,072 ASK BULLISH
    Trade Date: February 29, 2024 Trade Time: 1:26 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. Ready for Some Free Trade Ideas for March?  

Well, login now and I’ll show you the three tickers with the STRONGEST momentum according to Platform X…

But that’s not all!

I’ll also walk you through the Platform X system…

I’ll show you how everything works…

And if time permits, we could even run a few of YOUR favorite tickers through the system, too!

The webinar room is open now, and you can join the room right now if you want. 

Just Go Here and Join Me by 2 p.m. ET!

WRITTEN BY<br>Lance Ippolito

Lance Ippolito

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