Before we get to today’s interesting order flow, there’s a new guy around here, and he’s on to something very interesting…
His name is Chris Pulver, and he’s running something called a $100 Challenge, a strategy that targets $100 each trading day in extra cash.
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Now, for today’s interesting order, which just so happens to be in a boring old stock… International Business Machines (IBM).
Well, as it turns out, IBM has not been so boring of late! Actually, it’s made some pretty big moves to both the up- and downsides over the past two years after several years of moving sideways.
In fact, since early June, it’s risen from about $170 a share to nearly $212 today — not bad — and it’s up about 30% year to date.
Could this old Dow stock continue its resurgence this year? Well, we’ve seen a couple of orders in the past couple of days, including a sizable $258K invested today in the October monthly expiration, $225 strike calls.
Now, these are about $13.50 out of the money…
So the stock would need about a 7% move higher over the next 26 trading days, which is doable if its current momentum continues.
Market makers expect a move of about $13.29 higher or lower by October monthly expiration, so the math adds up here.
Now, that certainly doesn’t mean this will come to pass because as we know, anything can happen in trading and there’s no such thing as a guarantee.
This contract is also relatively cheap at $1.46 apiece, so not too expensive… and we love CHEAP options around here!
Also of note, we saw a smaller order on Wednesday, about $112K in premium in the IBM January 2025, $250 calls, so we’ve seen more than one bullish bet in this boring old ticker.
We also saw a sizable bet in some Walmart (WMT) calls for November that expire just days before its next earnings report, and two more bullish WMT bets for early October that hit the Penny Options Scanner today (and two more on Wednesday that expire later this month)!
So we’ve seen an abnormal amount of bullish activity in good ol’ Walmart.
As always, respect that 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.
- IBM Oct24 Strike: 225 Calls premium: $257,945 ABOVE ASK BULLISH
Trade Date: September 12, 2024 Trade Time: 12:36 pm - WMT Nov24 Strike: 82.5 Calls premium: $179,835 ABOVE ASK BULLISH
Trade Date: September 12, 2024 Trade Time: 11:48 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.
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.
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The profits and performance shown are not typical. We make no future earnings claims, and you may lose money. These trades expressed are from historical backtested data in order to demonstrate the potential of the system.
