A quick note about another excellent trade that hit the News Flow Scanner on Monday…
- GLW Oct24 25th Strike: 46.5 Calls premium: $173,250 ASK BULLISH
Trade Date: October 21, 2024 Trade Time: 10:05 am
We entered this trade Monday, then closed one leg Tuesday for a 30.23% gain, and then exited the second leg this morning for a 39.53% gain on the second leg, taking profits near the highs of the day. This is why we always trim and trail on pops!
I’m hosting a live scanner session at 11:15 a.m. ET on Thursday if you want more info on the amazing News Flow Scanner! Then later tomorrow, I’m hosting a live session with members!
Go here for the 11:15 a.m. earnings prep session!
I’ve mentioned many times before that some of the best orders hit the scanners in both the opening and final minutes of the trading day, and we got a whale bet minutes before the close Tuesday…
A trader grabbed the Alphabet Class C (GOOG) November monthly expiration, $160 calls with over $1.4 million in premium, which you love to see…
GOOG was trading just pennies under $167 a share at the close, so this play is deep in the money with a 0.69 delta, making these already expensive options even pricier ($10.70 per contract at the close, though, it’s cheaper now with GOOG down about 1.7% today).
The Market Maker Move by expiration is $13.18 higher or lower (as of Wednesday afternoon), so one could reasonably move a few bucks out of the money if they so choose to help cut the cost a bit.
The $170 strike is $4.00 as of Wednesday afternoon, so much less than half what this trader paid.
As always, this is an earnings play, and earnings plays are often a coin flip that can quickly turn against you if wrong or if the stock doesn’t move enough.
We also saw a trader looking to potentially ride the Tesla (TSLA) earnings wave after the close today with a sizable bet in Carvana (CVNA) in the weekly expiration, $200 strike calls.
And finally, we saw a potential lotto earnings play in Newmont (NEM) that hit the Penny Options Scanner on Tuesday, with a trader going long the November $64 calls.
This miner stock is up 40% year to date and over 20% the past three months, and market makers expect a move of about $4.80 higher or lower by November expiration — the Market Maker Move for today’s earnings event is $2.60 higher or lower.
That makes these calls a bit of a stretch, especially for a quick trade, but they are quite cheap — hence “lotto play”!
If a trader feels strongly about a good report from Newmont today, one could move a couple bucks closer to the money and still pay under $1.00 per contract as of Wednesday afternoon!
As always, respect that earnings risk!
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.
- GOOG Nov24 Strike: 160 Calls premium: $1,422,840 ASK BULLISH
Trade Date: October 22, 2024 Trade Time: 3:56 pm - CVNA Oct24 25th Strike: 200 Calls premium: $342,238 ASK BULLISH
Trade Date: October 23, 2024 Trade Time: 11:53 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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*Since the program’s inception on Feb. 21, 2020, the overall record is 448 wins and 188 losers. The average winner is 44.52%, the average return including winners and losers is 12.3%, and the average hold time is five days!
P.S. We’re About to Hit the Super Bowl of Trading Weeks
There are certain kinds of events that we only get to see a few times a year…
But when they happen, they tend to spark a boatload of opportunities.
And next week kicks off one of them…
If all goes well, the entire stock market could trend upward, which is what makes this week and next so special.
If you know me, you know I won’t be looking the other way.
Especially when it involves big names like Apple, Google, Microsoft and even Meta.
That said, given the weight of opportunity involved… being on the wrong side could be detrimental…
But thanks to my special earnings strategy…
We’ll have a good idea as to which names will thrive and which ones will suffer.
As you’ll see, I’m going to use a style of trading that doesn’t have anything to do with candlesticks, pullbacks, momentum or technical analysis.
