With GameStop on deck for earnings today, order flow in the video game retailer has all but dried up following what appeared to be Roaring Kitty’s move last week, which I covered here…
If any orders come in later today, we’ll be sure to update the flow below.
Since earnings flow has slowed dramatically, let’s take a look at a stock we don’t recall ever seeing hit the ol’ News Flow Scanner…
Planet Fitness (PLNT). Now, keep in mind that this is a pricier play than we generally like to look at. But it is an interesting order, and it’s odd, which means it catches our attention.
It’s odd because we don’t recall ever seeing it. And if it has hit the scanner before, it’s certainly a rarity. And it’s interesting because of the size of the premium…
About $319K worth — and it captures the company’s earnings report on Nov. 11.
So it has a few things going for it as to why it may be worth a look…
This unusual order hit the scanner soon after the open this morning when PLNT was basically flat on the day. It’s in the November monthly expiration, $80 strike puts, with shares trading just above $80 today.
Puts are often downside hedges, but we do like them more when they’re directly in the money like this. If nothing else, it could be worth putting on a watchlist for now since it has over two months before expiration.
We also saw another Call buy in AT&T (T), which makes the fourth in the past three trading days, with T marching about 1.5% higher on the day by 1 p.m. ET.
Finally, we saw a sizable bullish bet in BNY Melon (BK), with this trader looking for a potential rebound after shares fell 2%.
As always, respect the risk and size accordingly!
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.
- PLNT Nov24 Strike: 80 Puts premium: $318,780 ASK BEARISH
Trade Date: September 10, 2024 Trade Time: 9:52 am - T Sep24 Strike: 21 Calls premium: $70,000 ASK BULLISH
Trade Date: September 10, 2024 Time: 11:53 am - BK Dec24 Strike: 67.5 Calls premium: $399,040 ASK BULLISH
Trade Date: September 10, 2024 Trade Time: 11:01 am
Note: If no date is listed after the month, it’s the monthly expiration (third Friday).
P.S. Will This $26 Stock Crush It?
When one of my scanners flashes a BUY signal on a stock, I know it’s time to pay attention…
But when all FOUR flag a stock as a BUY, I know there’s a worthwhile opportunity…
This time, that opportunity seems to be on a cheap $26 stock — one that I’m now calling my No. 1 election stock.
While I cannot promise future returns or against losses, I’d like to show you the stock along with the system behind it.
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.
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.
