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Not to sound like a broken record… but the Intel (INTC) order flow we’ve been discussing the past couple of trading days has been on FIRE!
We first started pointing out INTC calls on Thursday of last week, when we saw an avalanche of flow, particularly in short-dated contracts hitting the Penny Options Dashboard.
We also gave a caveat: Don’t chase — buy dips and sell rips.
And then Friday morning, we the opening rip followed by a BIG dip — about a 9% swing down from the highs. Then it mostly chopped around, rising slightly into the end of the day…
Which was the perfect time to load up again… buying the dip.
This morning after the market was closed for Presidents Day on Monday? Intel RIPPED, up almost 10% by 10 a.m. ET, and the Feb. 21 expiration, $23.50 strike calls I bought Friday for $0.87 went as high as $2.74 this morning.
Just a picture-perfect setup and text book way to trade a stock like this…
- Step 1: Don’t chase!
- Step 2: Buy dips.
- Step 3: Sell rips.
And that brings us to today…
Much like Intel (INTC), we’re seeing a return of flow into Unity Software (U) that we also discussed last week with the video game-maker reporting earnings before the open Thursday.
The $21 calls we highlighted last week are already up 50%, but we saw new buyers in the Feb. 28 $23.50 and $24.50 strike calls with market makers expecting a move of $2.78 higher or lower and shares trading at $21.50 this afternoon.
We’re also seeing a lot of flow into a stock that makes us nervous… a China ADR, Alibaba (BABA), one of the hottest stocks of the entire year, up 50% YTD.
BABA was up big this morning and is still chugging along, up 1.8% this afternoon, and we’ve seen a flood of bullish flow in this name ahead of its report Thursday.
As is always the case, China ADRs can be risky… you just never know what the CCP is going to do to either prop these stocks up, or send them tumbling…
Shares are trading just under $127 today with market makers expecting a move of $8.92 higher or lower.
As always, respect the risk — and extra risk that comes with ADRs!
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.
Note: If no date is listed after the month, it’s the monthly expiration (third Friday).
The team at Lance Ippolito Trading
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*This is for informational and educational purposes only. There is inherent risk in trading, so trade at your own risk.
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