It’s almost Wednesday, and hopefully you know what that means…
We’re still testing the new Penny Options Scanner, but boy oh boy… I like what we’re seeing so far…
We had a barrage of orders in Starbucks (SBUX) hit on Monday morning…
And wouldn’t you know, news broke Tuesday morning that the CEO of Chipotle (CMG) was leaving for Starbucks, and the stock exploded over 20% above $90 a share this morning, sending these short-dated options to the moon!
We are still testing the scanner to make sure everything is working as it should, so stay tuned!
On the heels of SBUX’s big spike, we saw a lot of put buying hit the News Flow Scanner, with traders looking for it to come back down a bit. Premium isn’t particularly big on any orders, but we included the most recent one below.
Order flow was slow ahead of Wednesday’s CPI, but we did see a few hefty orders in Nvidia (NVDA).
But to be perfectly honest…
I have my eyes on a hefty NVDA short — join me at 3 p.m. ET on Wednesday, Aug. 14, for Trade the Close!
Until then, stay safe out there…
2:30 p.m. UPDATE: We saw some late, interesting flow in DraftKings (DKNG), posted below!
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.
- DKNG Aug24 Strike: 32 Calls premium: $144,046 ABOVE ASK BULLISH
Trade Date: August 13, 2024 Trade Time: 2:19 pm - SBUX Sep24 Strike: 95 Puts premium: $163,520 ASK BEARISH
Trade Date: August 13, 2024 Trade Time: 12:36 pm - NVDA Sep24 6th Strike: 111 Calls premium: $872,000 ASK BULLISH
Trade Date: August 13, 2024 Trade Time: 1:16 pm - NVDA Sep24 27th Strike: 115 Calls premium: $797,970 ASK BULLISH
Trade Date: August 13, 2024 Trade Time: 12:45 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. Is the VIX Signaling a Market Bottom?
You know the VIX, right? The market’s so-called “Fear Gauge”?
Well, it just did something that’s only happened twice in the last 15 years.
It spiked above 40.
Now, most folks see this and think “sell everything!”
But Graham Lindman thinks they’re all missing something much more important…
The last time this happened? It marked the bottom before a massive rally.
That’s in March 2020, the VIX hit 82 and S&P 500 surged over 100% over the next two years.
See the pattern?
Extreme fear often signals we’re on the cusp of a major reversal.
And right now? We’re seeing extreme fear across the board.
CNN’s Fear & Greed Index is deep in “Extreme Fear” territory…
And unemployment is at the highest level since January 2022.
It’s like the market’s winding a giant spring. And when it uncoils…
We could see a move that makes the post-COVID rally look tame.
