A certain indicator is going bananas right now, flagging bullish activity in a few stocks — join me at noon ET on Monday for details!
Earnings season is winding down, but there are still some interesting tickers to watch out for next week…
And one such ticker caught my eye as a potential dark horse… cybersecurity company SentinelOne (S).
If you remember just a couple of weeks ago, fellow Cybersecurity name Palo Alto Networks (PANW) took a 100-plus-dollar dive, falling from $366 a share to $260 on Feb. 21, dragging the entire sector down with it.
S dropped about 13% in the wake of PANW’s warning of “spending fatigue.”
But since then, CrowdStrike (CRWD) reported earnings Wednesday, bouncing from around $291 a share to $393, helping bump the sector back up a bit.
So in comes SentinelOne, which reports Wednesday after the close. And we’ve seen quite a bit of bullish activity…
Things started Monday with a large $668K order in the December 2025 expiration, $22 strike calls…
Those are way too long-dated for my taste, but it might be worth buying shares in a long-term portfolio — you don’t HAVE to just trade options when these orders hit!
Then on Tuesday, we saw some March 22, $28 strike calls — now we’re talking! — and then two more orders on Wednesday in some June and September calls (listed below).
If a trader just wanted to play earnings, they could easily look at in-the-money calls that expire on March 15.
BUT, as always, just know that those weekly calls will go to $0 if wrong. So, as always, RESPECT THAT RISK and trade accordingly — IF at all!
I also saw a BIG-money order in SalesForce (CRM) that I included, an order in Asana (ASAN), which reports Monday after the close.
Top Order Flow:
- CRM Jun25 Strike: 450 Calls premium: $2,333,833 ABOVE ASK BULLISH
Trade Date: March 8, 2024 Trade Time: 9:56 am - S Jun24 Strike: 30 Calls premium: $280,000 ASK BULLISH
Trade Date: March 6, 2024 Trade Time: 3:48 pm - S Sep24 Strike: 33 Calls premium: $250,790 ASK BULLISH
Trade Date: March 6, 2024 Trade Time: 10:47 am - ASAN Apr24 Strike: 20 Calls premium: $145,000 ASK BULLISH
Trade Date: March 5, 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
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*This is for informational and educational purposes only. There is inherent risk in trading, so trade at your own risk.
P.S. 2 Stocks Flashing ‘Bull Market’
If you’re looking for new trade ideas for next week, you must attend my first indicator class of 2024…
As of late, this indicator has been going bananas.
Meaning, we’ve seen a lot more buy signals than what I would consider normal.
We’ve seen buy signals across a number of stocks, sectors and indices…
It reminds me of the market exuberance we saw way back in 2020 and 2021…
Anyway, I’m hosting a free session at noon ET on Monday, March 11, to show you why my indicator is flashing all these signals.
As you’ll see, it has to do with the amount of money moving into the market — which is BULLISH!
So, if you’d like to join me on Monday afternoon and see why so many signals are popping…
