Join me LIVE at 2 p.m. ET TODAY for my top 9 chip stocks to watch in February — three report earnings after the close!
We’re in the thick of earnings season and the News Flow Scanner is on FIRE!
We generally cover three trades in this newsletter each day, and boy oh boy, all three of Friday’s plays exploded higher on the open Monday!
Here the three plays:
- NVDA Feb24 23rd Strike: 695 Calls premium: $322,000 ASK BULLISH
Trade Date: February 2, 2024 Trade Time: 10:23 am - CAT Feb24 Strike: 315 Calls premium: $105,020 ASK BULLISH
Trade Date: February 2, 2024 Trade Time: 10:13 am - EL Feb24 Strike: 133 Calls premium: $176,150 ASK BULLISH
Trade Date: February 2, 2024 Trade Time: 11:36 am
At the close Friday, NVDA was trading for $19.73 a contract, CAT for $10.40 and EL for $7.70.
Today, NVDA topped $37.00 CAT topped $19.35 and EL — with shares up over 19% premarket — topped out at $23.15! CAT and EL were both up on strong earnings while NVDA… well, everyone knows NVDA is one of the hottest stocks in the world.
Like I said… the scanner is on FIRE!
And we’re in the thick of earnings season, so what do we have on tap for today?
Palantir, a stock that’s up almost exactly 100% over the past 365 days. With shares trading in the $16.50 to $17.75 range most of the day, we got a bullish long-term order along with a bearish short-term order that are both listed below.
And what do we always say about plays like this?
Puts are often insurance plays against long stock positions should they tank on earnings. This put, however, is just outside the money, which makes it a little more attractive.
The calls are long-dated, making them a bit more conservative.
These puts could easily go to $0 if wrong — market makers project a $2.456 move higher or lower, so both are easily in the realm of possibility!
We also saw some puts for Spotify, which reports before the open Tuesday.
As always, respect the risk and trade accordingly!
Monday’s Top Order Flow:
- PLTR Jul24 Strike: 15 Calls premium: $114,540 ASK BULLISH
Trade Date: February 5, 2024 Trade Time: 9:43 am - PLTR Feb24 Strike: 16 Puts premium: $110,642 ASK BEARISH
Trade Date: February 5, 2024 Trade Time: 11:20 am - SPOT Feb24 9th Strike: 205 Puts premium: $572,724 ABOVE ASK BEARISH Trade Date: February 5, 2024 Trade Time: 10:01 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. Today’s Can’t-Miss Scanner Session!
I can’t wait to show you the opportunities I’m eyeing up this week…
Starting with the nine chip stocks I’m looking to trade…
Plus a host of other earnings opportunities that have popped up inside my scanner…
As a matter of fact, three of the nine stocks I’m watching announce earnings right after the close today…
And I’ll share some insights on how I plan to trade them…
And it’s all going down at 2 p.m. ET sharp TODAY, Feb. 5, when I join my friend Jack Carter for today’s earnings edition scanner session…
If I were you, I wouldn’t miss today’s scanner session for anything…
