I’ll be live with Graham at 1 p.m. ET on Tuesday to cover a number of things, including how we’re trading this sell-off — RSVP for the room here!
The market was an absolute bloodbath this morning, and let me tell you…
I was EXCITED.
You know why? Because there’s one thing I love more than just about anything else when it comes to trading…
CHEAP OPTIONS!
Which reminds me…
I’ll be with Graham at 1 p.m. ET on Tuesday to cover some crucial things during times like these. We’ll cover this pullback and discuss if it’s just a correction, or the beginning of something worse…
How to play the rebound, how to protect your portfolio and more!
This is of course a free session, so go here to join click here to join at 1 o’clock!
Now, back to why I was so excited about today’s massive move lower…
No doubt about it, I lost money this morning when trading opened, like pretty much everyone else who’s in the market.
This is the cost of playing the game. We can’t project things like this, so this is why we always preach respecting the risk and not overtrading and crushing your account when something like this comes out of the blue.
Only investing a small percentage of your account in each trade is always the way to go. So what am I doing now?
I’m BUYING MORE!
You have to look at days like today as an opportunity to go long the names you really love, especially in the cheap options market. I LOVE cheap options because they offer the best risk-reward.
I was down $6K Friday morning, but ended the day up $2K. How? I bought a bunch of CHEAP OPTIONS!
“Buy the dips, sell the rips,” is the motto!
And here’s what was getting bought up this morning…
Bank stocks, CrowdStrike (CRWD), Apple (AAPL) and Tesla (TSLA).
And here are some earnings plays we saw today — REMEMBER TO 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.
- UBER Feb25 Strike: 60 Calls premium: $376,745 ASK BULLISH
Trade Date: August 5, 2024 Trade Time: 12:35 pm - HOOD Feb25 Strike: 16 Puts premium: $305,000 ASK BEARISH
Trade Date: August 5, 2024 Trade Time: 11:38 am - CRWD Aug24 30th Strike: 220 Calls premium: $324,000 ASK BULLISH
Trade Date: August 5, 2024 Trade Time: 9:41 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.
