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Today’s Nvidia Earnings Bonanza Could Make or Break the Market

by | Feb 21, 2024

I have my eye on 25 companies reporting over the next 10 days. Which will I trade? Join my LIVE session at 10 a.m. ET on Thursday to find out!

Today’s the day! And what day is that, you may be asking? 

It’s Nvidia earnings day! And boy oh boy, the market has been sputtering this week as people move out of high-growth stocks into the more boring, defensive names (like we discussed on Tuesday). 

Chip stocks of course have been on a hellacious run higher the past few months, led by NVDA, the king of chips, which is up 36% year to date, and others like Supermicro Computer (SMCI) — up a mind boggling 158% year to date, even after a 10% dip the past week!

In addition to being the king of the chip stocks, Nvidia is also the king of order flow on my News Flow Scanner, getting a ton of big orders basically every day of the week. 

And while things have slowed down a bit this week ahead of earnings, we still had six orders hit today — I’ll post a few of them below. 

One thing that really sticks out about the orders today with Nvidia trading around $670 a share at 1 p.m. ET and market makers expecting a massive move of $65 in either direction following the report…

Five of the six orders are for the August monthly expiration — and they’re all way out of the money. I put the order closest to the money on the list below.

I also included a short bet that’s about $50 out of the money but in line with market maker expectations. 

And finally, for third order, I put the single biggest order of the week, which came Tuesday. It is also by far the riskiest order because it’s in weekly calls. 

I don’t know which direction Nvidia is going, but the market has been teetering on the brink of a sell-off. If NVDA disappoints, look out below! 

Even if earnings are decent, this could be a sell-the-news event.

As always, play it safe and respect the risk — these babies are insanely EXPENSIVE!

Wednesday’s Top Order Flow: 

  • NVDA Aug24 Strike: 1100 Calls premium: $143,750 ABOVE ASK BULLISH Trade Date: February 21, 2024 Trade Time: 11:45 am
  • NVDA Mar24 1st Strike: 620 Puts premium: $282,000 ASK BEARISH
    Trade Date: February 21, 2024 Trade Time: 10:50 am
  • NVDA Feb24 23rd Strike: 715 Calls premium: $732,250 ASK BULLISH Trade Date: February 20, 2024 Trade Time: 12:19 pm

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. Heads Up! Look Out for My Earnings Rush Kick Off Event Thursday Morning! 

Just wanted to give you a quick heads up about Thursday’s 10 a.m. ET earnings rush event…

I have 25 tickers reporting over the next 10 days that I’ll be looking to trade…

Now this means I’ll also be putting my earnings indicator to work on the stocks I’m looking to trade over the coming days as we wrap up Q4 earnings season.

That said, if you haven’t signed up yet, you’ll want to do that ASAP so I can send you my FREE earnings indicator before we meet on Thursday…

And don’t worry. 

Once you complete your registration for my earnings rush event, I’ll help you install the earnings indicator for free.

Just use this link to complete your registration and you’ll hear from me right after.

Register Your Spot Here — See You Thursday!

WRITTEN BY<br>Lance Ippolito

Lance Ippolito

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