Easy come… easy go…
Remember those quantum computing stocks that were on an absolute tear in 2024, particularly the fourth quarter? Nvidia CEO Jensen Huang took a wrecking ball to these stocks today…
The top names, Rigetti Computing (RGTI), IonQ (IONQ), D-Wave Quantum (QBTS) and Quantum Computing (QUBT), which have made for great trading the past couple of months, are all down 40-45% as of 1 p.m. ET.
Of course, if you look at the stocks over the past year, they’re all still up huge, but anyone who just happened to get in over the past couple of weeks or so is likely losing their shirt…
Which just goes to show why you never, ever go all in one something, especially small, ultra-speculative stocks like this. The problem of course being it could be many years before these companies are worth the explosive growth we’ve seen in their share prices the past few months.
But you know what they’re still good for?
Trading!
So what are the bears and bulls buying today? Well, the bulls weren’t buying much in the morning — outside of one order in QUBT and a couple in IONQ, the biggest of these names…
As the day went on, we did see additional bullish orders in QBTS.
So let’s start there with the bulls brave enough to try and get a bounce here…
A trader dropped about $183k on the Jan. 31 expiration, $30 strike calls in IONQ, and we saw another order in the February $40 calls, this one to the tune of $452k in premium — a pretty hefty order.
Bottom line, we’d be very, very careful in these names. Is the selling way overdone and could they see a dead cat bounce tomorrow? They absolutely could.
But that may not last long, either. As we say…
Don’t chase! And that works in both directions when stocks are down big or up big!
Order Flow:
*This is for informational and educational purposes only. These are not official alerts issued by Lance, but rather some interesting orders picked by the team at Lance Ippolito Trading.
There is inherent risk in trading. Trade at your own risk.
Note: If no date is listed after the month, it’s the monthly expiration (third Friday).
The team at Lance Ippolito Trading
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
Important Note: No one from The TradingPub team or any of its associated brands will ever contact you directly on Telegram.
*This is for informational and educational purposes only. There is inherent risk in trading, so trade at your own risk.
P.S. A better set of trading rules for 2025
Nate Tucci applied new rules to 100 options trade alerts I took last year, and we turned a 69% win rate to 85.1%. If you’d like to up your trading game in 2025… check this out.
I turned a $10k model account to $63k last year with a 69% win rate.
Nate Tucci adjusted the rules, and that $10k grew above $100k with an 85.1% win rate. I revealed all his adjustments so you can learn and use them in 2025.
Get the Details Here!
