>>>NEW $25K PROJECT!<<<
SAVE THE DATE: 1 P.M. ET ON MONDAY, APRIL 29!
Earnings flow slowed a bit Friday, but the original meme stock… is… BACK!
After falling about 45% year to date, the meme stock that started it all back in 2020, GameStop (GME) has been squeezing higher.
Since trading right at $10 a share at the close on Monday, GameStop topped $12.15 a share Friday afternoon, rising about 20% in just a couple of days.
And the bulls have taken notice, piling into several May monthly or May 24 expiration calls in the $10, $11 and $12 strikes.
I first started taking notice on Wednesday, when we saw a nearly $200K order in the May monthly expiration, $12 strike calls — a hefty amount of premium in a ticker that hasn’t been talked about much this year after taking the world by storm, along with AMC Entertainment (AMC), amid the pandemic meme stock craze.
And the bulls were back at it Thursday and Friday, picking up the May 24, $10 strike calls on Friday with the stock surging over 8% at one point.
According to highshortinterest.com, GME has a short float of around 25% right now, which is a pretty hefty number.
Keep in mind, though, that short squeezes can explode higher one day, and be gone just as quick the next, leaving an unwary trader holding the bag.
But they sure are fun to trade!
Check out the day’s top flow below, as well as some earnings tickers that hit this week that are reporting soon — as always, respect that risk!
Top Order Flow:
- GME May24 24th Strike: 10 Calls premium: $241,483 ABOVE ASK BULLISH
Trade Date: April 26, 2024 Trade Time: 11:39 am - LSCC May24 Strike: 70 Puts premium: $110,925 ASK BEARISH
Trade Date: April 26, 2024 Trade Time: 10:07 am - PARA May24 10th Strike: 12 Puts premium: $110,814 ASK BEARISH
Trade Date: April 25, 2024 Trade Time: 3:37 pm - PYPL May24 3rd Strike: 61 Calls premium: $181,860 ASK BULLISH
Trade Date: April 25, 2024 Trade Time: 11:19 am - PYPL May24 3rd Strike: 63 Calls premium: $107,570 ASK BULLISH
Trade Date: April 25, 2024 Trade Time: 11:19 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.
P.S. Our Office Has Been Buzzing All Week!
Primarily because everyone caught a glimpse of my newest trading system, which is unlike anything I’ve ever done before…
It looks nothing like my News Flow Scanner, Platform X or the Master Indicator…
In fact, it looks like this…
This system has been responsible for a whirlwind of new opportunities.
Based on what we know currently…
It tracks the rotation of money between industry groups…
When money rotates out of one industry to another, my system will tell me which stocks are likely to benefit…
It’s a weird concept, but I won a bunch of trades in April following this plan…
I’ve been working on this system for a while but haven’t talked about it much — until now!
And I believe it will play a key role in my attempt to grow a new $25,000 trading account.
And at 1 p.m. ET on Monday, April 29…
I’m Spilling the Beans on Everything!
The profits and performance shown are not typical, we make no future earnings claims, and you may lose money. From 4/3/24 through 4/9/24, is currently 100% based on 8 trades and the average rate of return on options trades was 14% over a 1 day average hold time.
