We mentioned in Wednesday’s edition of this newsletter that the Wall Street meme stock casino was coming back down to earth in names like GameStop (GME), which is down another 20-plus percent Thursday…
But there’s plenty of amazing trading action to be found, and someone found some indeed this morning in PDD Holdings (PDD), a China ADR stock.
Now, let me say that these stocks have frustrated me in the past. You never know when the CCP is gonna pull some funny business and cause wild movements in China stocks.
We’ve seen several PDD orders the past few days…
A trader bought the May 31 expiration, 152.50 strike calls at 10:34 a.m., and it looks to me like they slammed about 10K more contracts in the October $165 calls soon after with shares popping 1.8% — PDD is up about 25% the past month.
And this comes on the heels of the MASSIVE orders we saw on May 13…
We also saw some interesting action in Target (TGT), which reports next week, on the heels of Walmart’s (WMT) strong report helped boost its shares over 3% Thursday.
We got an order on May 14 in the May 24, $162.50 calls that are already in great shape.
And then today, we saw two puts, both way off in the future — way too far for my taste. If you like TGT to the up- or downside, I would stick with something short-dated and in the money.
But remember…
Short-dated plays can and will go to $0 in a hurry if you’re wrong. Always respect that risk!
Top Order Flow:
- TGT Dec25 Strike: 150 Puts premium: $294,000 ASK BEARISH
Trade Date: May 16, 2024 Trade Time: 11:31 am - TGT Mar25 Strike: 150 Puts premium: $156,750 ASK BEARISH
Trade Date: May 16, 2024 Trade Time: 11:24 am - TGT May24 24th Strike: 162.5 Calls premium: $225,856 ASK BULLISH
Trade Date: May 14, 2024 Trade Time: 1:55 pm - PDD Oct24 Strike: 165 Calls premium: $168,000 ASK BULLISH
Trade Date: May 16, 2024 Trade Time: 10:51 am - PDD May24 31st Strike: 152.5 Calls premium: $173,635 ASK BULLISH
Trade Date: May 16, 2024 Trade Time: 10:34 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. Check Out This Weird Anomaly Jeffry Has Exploited for a 100% Win Rate
If you’d love to see how to target and exploit a weird market anomaly for income… you’re in the right place!
Because Jeffry Turnmire, who’s an outside-the-box trader, showed me a weird anomaly in the market that he’s been successfully exploiting for a while now.
You see, he says there’s a short window of time when options on one particular ticker are almost always “mispriced.”
And he’s discovered a way to target income from these “mispricings” over and over again for months.
In fact, he’s placed 79 live, winning trades with this glitch since he first ran across it. Now, that’s clearly a remarkable number.
But let me be even more clear… That’s 79 winners out of 79 trades!
On top of that, he recently claimed a “flash flood” of five winners in just one week.
We can’t guarantee results or against losses, but I’ve never seen a market anomaly as reliable as this one…
Head Here to See How It Works!
Disclaimer: Since 6/28/2022, Jeffry’s strategy has entered 79 trades, with 79 winners and 0 losers. The average return on risk is 7.35%, and the average hold time is 16.6 days. Past performance does not guarantee future results — never risk more than you can afford and are willing to lose.
