THREE brand-new trades drop at 3 p.m. ET: Enter today, exit (most likely) Monday, just a few hours in the market while it’s open — 70% win rate on 388 trades!
Another day, another dead market…
But while volume and volatility is low, that hasn’t slowed the order flow much.
We’ve seen quite a bit of bullish action lately in Snapchat (SNAP), which is up over 45% in the past three months, largely on the back of a strong earnings report.
Then we saw an absolutely massive $4.1 million order Tuesday in the August monthly expiration, $15 puts that went for right around $1.12 a contract.
They reached about $1.50 a contract just before lunchtime on the East Coast today with shares of SNAP down about 4% on the day — a pretty nice chunk of change made on that $4.1M order.
But with SNAP near the lows of the day, we saw another decent-sized bullish order hit…
This one to the tune of $184K in premium in the June $19 calls, with shares trading right around $16 a pop. Could there be more upside ahead after SNAP’s little dip this week?
Market makers expect a move of about $2.12 by expiration, so these babies might need a little help to get there, but you never know!
We also saw interesting orders in Cava (CAVA), which has been on an absolute tear this year, up $85% already — this would also need an incredible move higher with shares trading just under $79 on Friday.
Finally, we’re closing things out this week with a hefty short bet in Cameco (CCJ), another stock that’s had a nice run of late…
As always, respect that risk!
Friday’s Top Order Flow:
- CCJ May24 Strike: 50 Puts premium: $702,364 ABOVE ASK BEARISH
Trade Date: May 10, 2024 Trade Time: 10:41 am - CAVA Jul24 Strike: 100 Calls premium: $115,770 ASK BULLISH
Trade Date: May 10, 2024 Trade Time: 10:08 am - SNAP Jun24 Strike: 19 Calls premium: $183,762 ASK BULLISH
Trade Date: May 10, 2024 Trade Time: 12:22 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. What’s Your Favorite Stock to Trade? It’s No Secret What Mine Is…
Navigating the stock market can feel like stepping into a world of weird…
After all, it’s filled with a wide variety of gurus who come with their own quirky ways of trading.
And the rather bizarre secret I’m about to share doesn’t deviate from that quirkiness…
When traders enter the weird and wonderful world of trading Tesla, they get to focus on trading one extraordinary stock instead of dealing with the hassles of multiple tickers.
Oddly enough, the pursuit has been quite profitable, as it was not uncommon for the method to produce a long string of winners…
Just like it has at times this year!
Obviously, I cannot promise future profits or against losses… this is the stock market, and there are no guarantees.
But I’m willing to share the simplicity of trading Tesla’s Thursday afternoon moves during my presentation…
*The profits and performance shown are not typical, we make no future earnings claims, and you may lose money. The trades expressed are from historical data in order to demonstrate the potential of the system.
