Following up on a play from Wednesday’s edition of this newsletter, we saw more bullish activity in Pinterest (PINS) ahead of its earnings report after the close today. The Nov. 8 expiration, $34.50 strike calls we highlighted are sitting pretty today, up over 30% as of 2:50 p.m. ET.
This has played out as the ideal scenario so far…
When trading ahead of earnings on a play you really like, it’s always great when you can load up, then sell those rips as the day(s) go on. That way you can take profits off the table before the report, and maybe leave on a runner for a potential home run IF things go your way when the report hits the market — just always remember there are NO guarantees in trading!
The order that hit the Penny Options Scanner today is in the weekly $38 calls, about $3.50 out of the money with market makers implying a move of $4.47 higher or lower…
As always, this short-dated play can and will go to $0 if wrong, or if the stock doesn’t move enough! See what else we had to say about this play on Wednesday.
As for what we’re seeing in other names today…
AST SpaceMobile (ASTS) is down big, over 8% at lunchtime, and a trader is looking to catch a rebound either ahead of or for earnings on Nov. 14.
We’ve had some fun trading this name — which was up 560% year to date at one point in August — over the several months.
But since peaking over $38 a share in August, it’s down to $21 today…
Could it see a BIG earnings pop? It can certainly make huge moves in short amounts of time, and market makers are implying a move of $5.15 higher or lower by this monthly expiration.
Finally, DraftKings is also on deck for earnings after the close, with market makers implying a move of $4.28 higher or lower as shares trade right at $39, up about 2.1% on the day.
We saw an order in the weekly $42.50 calls, worth about $119K in premium.
Something to keep in mind, along with this being a volatile weekly play that will go to $0 if wrong, is that we also saw a huge $702K order Wednesday in the December monthly $40 puts.
Now, puts are often downside hedges in case a stock tanks on earnings. But these are in the money, which should give traders some pause…
As always, you know what to do…
Respect the risk involved here and only trade what you can afford to lose, or paper trade while you get your feet wet and learn the ropes!
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.
- ASTS Nov24 Strike: 23 Calls premium: $274,668 ASK BULLISH
Trade Date: November 7, 2024 Trade Time: 12:12 pm - DKNG Nov24 8th Strike: 42.5 Calls premium: $119,439 ASK BULLISH
Trade Date: November 7, 2024 Trade Time: 11:27 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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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. The ‘Secret’ to Catching Tesla’s Bullish Waves
Back in January 2023, shares of Tesla had dumped to around $200…
A lot of traders panicked…
But thanks to a special indicator I like to use, I knew we were on the verge of a new bullish cycle.
How? Simple.
It flipped from red to green…
Had you opened a basic trade while the indicator was green, you could’ve seen an 89% ROI in just three trading days…
That would’ve been enough to turn $5,000 into $9,450…
But here’s the thing…
This bull cycle KEPT GOING…
Which led to a total of four winners in four weeks!
Of course, it doesn’t always work out this way. There were smaller wins and those that didn’t work out. Plus, I can’t guarantee future wins or prevent losses…
However…
This is the beauty of the indicator.
When it’s green you know with 100% confidence it’s the PERFECT time to target Tesla.
And a New Tesla Bull Run Just Has Begun!
The profits and performance shown are not typical, we make no future earnings claims, and you may lose money. From 11/02/2023 – 11/4/2024, on live issued trades, the result is a 75.4% win rate with an average return of 30.06% — including winners and losers — over a 4-day hold period.