I’m heading off for a few days of R&R, but I posted a video this morning breaking down everything I see going on in the market right now, which is a lot!
The team will also throw a couple of scanner plays for you at the end, so read on!
Today’s video covers:
📈 Meme stocks back in play: It’s looking like meme stocks like AMC (AMC), GameStop (GME) and AST SpaceMobile (ASTS) might offer opportunities for day traders seeking a thrill.
📉 Intel’s earnings pop fizzles: Intel (INTC) experienced a significant sell-off after its earnings report, so let’s dive in!
📊 Volatility as a factor: Volatility in options trading is crucial if you want to see nice moves, particularly around earnings events.
⚠️ Be proactive, not reactive: Don’t chase!
🛡️ Stick with safety or go full junkie: If you’re a gambler… look at meme stocks. Or if you’re a safe trader, focus on “boring” but stable stocks like Coca-Cola.
As for earnings flow hitting this week, we saw a couple of back-to-back orders in Nio (NIO) this morning, coming just one minute apart and both in the same strike ($5) and expiration (September monthly).
Nio is trading around $4.25 this afternoon and reports after the close Thursday.
These are deeper in the money, which means a trader could cut the cost of entry down by going for the $4.50 or even the $4 strike — if they believe Nio is in fact going down on earnings.
The $4.50 strike doesn’t have nearly the open interest of the $4 and $5 strikes, but still has a pretty tight spread at just 3 cents as of Wednesday afternoon.
We also saw a couple of orders in the aforementioned ASTS, with shares seeing a meme-stonk bounce over 22% this morning, so we included the orders that hit the scanners today.
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.
- NIO Sep24 Strike: $5 Puts premium: $86,000 ASK BEARISH
Trade Date: September 4, 2024 Trade Time: 10:13 am - NIO Sep24 Strike: $5 Puts premium: $85,000 ASK BEARISH
Trade Date: September 4, 2024 Trade Time: 10:12 am - ASTS Sept24 6th Strike: $40 premium $56.650 ABOVE ASK BULLISH
Trade Date: September 4, 2024 Trade Time: 11:35 - ASTS Sep24 6th Strike: 30.5 Calls premium: $110,000 ASK BULLISH
Trade Date: September 4, 2024 Trade Time: 12:24 pm
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.
P.S. Looking for a New Opportunity in the Options Market?
Smart traders are placing smaller orders in cheaper options more frequently because they know they’re less likely to be tracked…
So as soon as I realized the smart money was focusing more and more on orders under $100K and options priced under $1.00 per contract…
I started building a new scanner to go “deep sea fishing” for these kinds of opportunities.
That’s what led me to:
- TDOC: 7% gain.
- LYFT: 20% gain.
- WBD,: 62% gain.
Of course, there were smaller wins and those that did not work out… And I can’t guarantee you’ll ride every trade to new highs or avoid losses — which is impossible in trading.
But I’m guessing it’s only a matter of time until everyone finds out about this subtle shift in the options market…
The profits and performance shown are not typical, we make no future earnings claims, and you may lose money. From 5/13/24 through 7/31/24, the average win rate on live published trade alerts is 90%. The average rate of return on options trades was 53% over a 1.3 day average hold time.
