THREE brand-new “weekend trades” just dropped at 3 p.m. ET…
Action was on the slower side Friday, with a lot of the usuals hitting alongside some junk names and several super long-dated plays.
And then, wouldn’t you know, BANG!
Four straight orders in Beyond Meat (BYND) hit the News Flow Scanner at 1:30 p.m. ET, which told me something was about to hit…
News!
The stock was halted in what appears to be a short squeeze — BYND has a high short float (about 39% of its shares). The stock caught a bounce Thursday on decent earnings, but it was down 2% to 3% all afternoon before spiking 40% in a matter of minutes.
And wouldn’t you know, the traders who picked up these short-dated calls right before and at the beginning of its liftoff made out like bandits…
That’s why we follow the flow! So, what else is “flowing” today?
We did see another BYND call hit shortly before this newsletter was sent out, so we included that play below. Who knows, the squeeze may have some more juice left. Keep in mind that these things can unwind very fast, so be aware before getting in.
We also saw some Carvana (CVNA) calls hit this morning with a pretty hefty premium. CVNA caught a nice bounce off the lows this week after reporting earnings, so this trader could be looking for a reversal over the next two weeks.
And we saw a play shortly after 2 p.m. in a stock that is surging this week — Palantir (PLTR) — up about 20% after a partnership with Microsoft (MSFT) to sell its AI to U.S. defense intel agencies was announced.
As always, respect that risk and have a great weekend!
If you’d like to see what we’re doing for Wiretap Alerts, just go here!
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.
- CVNA Aug24 Strike: 135 Puts premium: $346,957 ABOVE ASK BEARISH Trade Date: August 9, 2024 Trade Time: 9:57 am
- BYND Aug24 Strike: 8.5 Calls premium: $248,898 ASK BULLISH Trade Date: August 9, 2024 Trade Time: 2:17 pm
- PLTR Aug24 Strike: 30 Calls premium: $216,664 ASK BULLISH Trade Date: August 9, 2024 Trade Time: 2:05 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.
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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. Is It Time to Buy… or Sell?
The S&P 500 hit extreme panic selling levels early this week. Just look at this chart…
This means we could be heading toward the “Mother of all Pullbacks.”
Especially with the Fed potentially cutting rates as early as this September.
And if history is any indicator…
That means we could actually be heading toward a MAJOR reversal…
Just like the 194% surge we saw hit the Nasdaq starting in August 1998.
Fortunately, Graham has done the heavy lifting…
Leading to three main predictions for this leg of the bull cycle, including his:
- Top ETF.
- Top sector.
- Top stock.
Along with exact price targets and probabilities.
Of course, there are never any guarantees in the market. We can’t win every trade or avoid losses, which are part of trading.
But if we look at what’s happened in similar market scenarios…
We could be mere days away from some parabolic moves up.
If you have a few minutes…
And you know how important it is to make moves BEFORE market inefficiencies hit the mainstream…
Get Graham’s 3 Big Predictions Here
