I just dropped a brand-new Perfect Tesla Trade alert, and it’s not too late YET — go here for details!
We’re seeing some short squeezes, which is about the only thing that’s happened this week that didn’t induce a big yawn…
Volume is light, and some stocks are getting taken behind the ol’ woodshed on weak forward guidance. Stocks like Roblox (RBLX), Shopify (SHOP) and TripAdvisor (TRIP) are getting whacked 20% to 30% overnight.
As of 2:13 p.m. ET, the S&P 500 (SPY) was only at 36.1% of its normal daily volume, and the Nasdaq 100 (QQQ) was at 37.6% its average — total snoozefest.
On top of that, earnings flow was pretty slow Thursday, with nary an exciting report on the table for Thursday or Friday.
Not to sound all gloom and doom, but things aren’t looking particularly great in the market right now.
Aside from earnings plays for this week, the flow hasn’t dried up just yet, with stocks like Amazon (AMZN) steadily rising while Cameco (CCJ) made another appearance.
The biggest AMZN order of the day came early in the May monthly expiration, $187.50 strike calls to the tune of $450K in premium. The stock moved as high as $191.60 before retreating a bit, and the final two orders before this newsletter was sent are posted below.
Stay tuned for more earnings action next week — hopefully we’ll start to see more volume come into the market.
Thursday’s Top Order Flow:
- AMZN May24 Strike: 192.5 Puts premium: $107,580 ASK BEARISH
Trade Date: May 9, 2024 Trade Time: 1:01 pm - AMZN May24 Strike: 192.5 Calls premium: $165,335 ASK BULLISH
Trade Date: May 9, 2024 Trade Time: 12:25 pm - DKNG Aug24 Strike: 32 Calls premium: $242,310 ASK BULLISH
Trade Date: May 9, 2024 Trade Time: 10:56 am - CCJ Jul24 Strike: 55 Calls premium: $130,548 ABOVE ASK BULLISH
Trade Date: May 9, 2024 Trade Time: 9:41 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. It’s My Favorite Stock to Trade, and It’s Not Close
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.
