Once again, we hit another monster trade!
The PLTR calls we covered in Monday’s newsletter were a double this morning after the stock exploded more than 28% higher! Here’s the trade itself:
- PLTR Jul24 Strike: 15 Calls premium: $114,540 ASK BULLISH
Trade Date: February 5, 2024 Trade Time: 9:43 am
One contract was going for around $3.70 during the last hour of trading Monday, when this newsletter hits your inbox.
By 10:20 a.m. ET on Tuesday, the same contract peaked at $7.55. The much more aggressive weekly $15 calls went from around $2.21 a contract to $6.73 over the same time frame!
So like I said Monday, the News Flow Scanner is on FIRE!
And what do we have in store for earnings plays today?
How about some Snap, Enphase and Uber…
Snap is up over 55% the past year, but almost all of that has come since late September after the stock had gotten absolutely smacked down from its 2021 highs.
It’s trading for right around $17 today, and the market makers are expecting a $3.264 move either up or down, putting these puts in line. They could easily be a downside hedge against a long stock position, or the trader could be looking for Snap to give back some of those gains of the past three to four months.
The Uber plays listed below actually hit the scanner late Monday and both are bullish, with the market makers expecting a $4.314 move higher or lower for the $70 stock.
As always, respect the risk! Because these plays could easily go to $0 following the report, especially the short-dated weekly orders.
Tuesday’s Top Order Flow:
- SNAP Feb24 9th Strike: 16.5 Puts premium: $123,969 ASK BEARISH
Trade Date: February 6, 2024 Trade Time: 11:17 am - ENPH Feb24 Strike: 114 Calls premium: $131,625 ASK BULLISH Trade Date: February 6, 2024 Trade Time: 11:48 am
- UBER May24 Strike: 80 Calls premium: $138,065 ASK BULLISH Trade Date: February 5, 2024 Trade Time: 1:59 pm
- UBER Feb24 9th Strike: 70 Calls premium: $266,228 ABOVE ASK BULLISH Trade Date: February 5, 2024 Trade Time: 1:19 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. 3 Reasons to Bullish on Chip Stocks
We’ve been saying it for a couple of weeks…
Chip stocks are some of THE hottest trades in the market right now.
We saw another one SMASH earnings expectations…
This time, it was Supermicro Computer (SMCI) — one of the hottest stocks in the entire market.
After the close on Jan. 29, the stock released its latest earnings report.
The following day, the stock was trading nearly $60 higher…
In fact, it’s up 126% year to date as of today!
Now, I’m assuming many people missed this move.
But anyone using the News Flow Scanner could have seen it coming.
I can say that with 100% confidence because SMCI flashed inside the scanner five times that afternoon.
It’s not hard to see that Wall Street was betting that the stock would perform well on earnings.
