It has been an insane week of trading — as was expected to be the case with so many major market-cap stocks reporting…
And we’re not quite done yet!
If you missed Wednesday’s “Trade the Close” live session… you missed out BIG TIME!
We covered positions in Comcast (CMCSA), MGM (MGM) and Estee Lauder (EL)… and you can see the results for yourself below — BANG!!!
THIS IS WHY WE TRADE THE FLOW!
And this is why you have to attend our “Trade the Close sessions” — we gave these plays out 100% for free to everyone just for showing up to have some fun!
Stocks are taking a beating today, with the Nasdaq 100 (QQQ) down 2.2% and the S&P 500 (SPY) down 1.5% at lunchtime on the East Coast ahead of BIG earnings reports from Amazon (AMZN) and Apple (AAPL) after the close today…
Which makes me a little afraid to hold any sizable positions — much of the carnage came from Microsoft’s (MSFT) earnings report late Wednesday, when the tech giant projected softer forward guidance.
If AMZN, down 3.5% at lunchtime, and AAPL, down 1.3%, come in weak as well, look out below!
We didn’t see any big AMZN bets through the first half of trading, but we did get a pretty sizable position in the Nov. 1 expiration, $197.50 strike calls that hit Monday.
These calls of course took a pounding today with blood in the streets for Halloween, falling from around $4.30 at the close Wednesday to $2.15 this afternoon. They were around $2.93 at the time of purchase.
Of course, if one feels especially bullish about Amazon’s earnings report, one could get in at a nice discount. Market makers project a move of $11.50 higher or lower following Amazon’s report, with shares trading just under $187 apiece early Thursday afternoon.
Keep in mind that if wrong or if the stock doesn’t move enough, these calls will go to a big fat $0.00 on Friday, when they expire.
1:30 p.m. ET update: We saw another order for AMZN calls, added to the flow below!
Intel (INTC) also reports after the close today, and we’ve seen a lot of bullish flow into this name, which is a potential acquisition target of Apple.
If news breaks about this during either Apple or Intel’s earnings call, the calls below could rip — keep in mind that Intel is also down pretty big today, with market makers implying a move of $2.11 higher or lower.
With shares under $22, it would be smart to go closer to the money — the Nov. 1, $22 calls are going for under a buck a contract this afternoon… and we like cheap!
But again, keep in mind that these can and will go to $0 tomorrow if wrong.
As always, we must respect the risk, especially in short-dated plays like this with a major catalyst like earnings.
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.
- AMZN Nov24 1st Strike: 197.5 Calls premium: $473,447 ABOVE ASK BULLISH
Trade Date: October 28, 2024 Trade Time: 1:52 pm - AMZN Nov24 8th Strike: 190 Calls premium: $116,000 ASK BULLISH
Trade Date: October 31, 2024 Trade Time: 1:00 pm
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
*This is for informational and educational purposes only. There is inherent risk in trading, so trade at your own risk.
P.S. 3 Stocks Likely to Soar In November
Election season drives some people totally crazy.
But the way I see it, it can also present a ton of opportunities for the smartest traders.
And I’ll be sharing some of these opportunities with you LIVE at 2:30 p.m. ET TODAY, Oct. 31 — followed by some live trading into the close!
You’ll see the top 3 stocks that are likely to soar this month — and how to trade them.
Not to spill all the beans in this email, but Platform X currently ranks all three stocks as a BUY.
In case you’re wondering, Platform X is the same system that’s responsible for picking some of the fastest-moving stocks in the market.
Just like it did with Ralph Lauren (RL)…
If you had jumped on the stock when it signaled, you could have had the chance at a 36% gain in just 21 trading days.
Granted, some winners were smaller and some did not work out, and I cannot promise future returns or against losses, but if you want to see how Platform X picks these stocks…
Along with the names of all 3 stocks it’s flashing on right now…
The profits and performance shown are not typical. We make no future earnings claims, and you may lose money. These trades expressed are from historical backtested data in order to demonstrate the potential of the system.
