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Whale Bets BIG on Earnings Bounce for 2023 Darling SoFi on Monday

by | Jan 26, 2024

All good things must come to an end, and it finally happened… The semiconductor chip rally we’ve covered this week finally came to an abrupt end Friday on the heels of an earnings miss from Intel. 

By the end of lunch on the East Coast, Intel was down over 12%, AMD and Nvidia were also both down on the day, and the ETF that tracks this sector, SMH, was down 2.3% after a meteoric rise of almost 40% the past three months. 

Will this downturn continue? 

With Super Micro Computer (SMCI) and AMD on deck for earnings next week, we will find out soon!

For other earnings plays coming up, we have SoFi before the open on Monday. And with shares trading around $7.60 Friday morning, we got an order for the Feb. 23 expiration, $8 strike calls. 

Now, there’s a few things to like about this order: It’s massive at $501K in premium, it’s in the money, it’s short-dated, and it’s cheap — right around $0.70 a contract as of 1 p.m. ET on Friday. 

These are all things to look for when perusing orders from the News Flow Scanner… 

It is, however, an earnings bet. If wrong, it’s going to go to $0 or at least close to it on Monday.

Which is why I always say, you must respect the risk!

SoFi is also down about 25% the past month after rising 116% in 2023. 

We also saw some Starbucks calls with the company reporting on Tuesday, and some longer-dated MARA calls — another 2023 darling that’s fallen on hard times of late. 

Friday’s Top Order Flow: 

  • SOFI Feb24 23rd Strike: 8 Calls premium: $500,832 ASK BULLISH
    Trade Date: January 26, 2024 Trade Time: 11:52 am
  • SBUX Feb24 2nd Strike: 96 Calls premium: $241,898 ASK BULLISH
    Trade Date: January 26, 2024 Trade Time: 12:37 pm
  • MARA Mar24 1st Strike: 21.5 Calls premium: $106,250 ASK BULLISH
    Trade Date: January 26, 2024 Trade Time: 9:43 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. 

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WRITTEN BY<br>Lance Ippolito

Lance Ippolito

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