Back from vacation and back at the trade desk… Man it’s great to be… back!
The big news this week has been all about GameStop (GME) and a certain “Roaring Kitty,” who had around 640,000 people on his livestream today as shares of GameStop (GME) were tanking 40%.
It’s still up over 20% for the past week and 70% the past month, but the casino has been in full effect, and we covered some of the action here on Thursday.
As for what else is hitting the scanner of late, well, we actually have a few earnings plays for next week that have hit in the past few days in Oracle (ORCL), Broadcom (AVGO) and Signet (SIG).
Oracle (ORCL) reports Tuesday after the close, and shares were up a little over 1% to about $125 just after lunchtime today, when we got a put order.
We also had a call option hit on Monday when shares were around $118. Market makers are expecting a move of $9.46 up or down by the end of next week, so as always, take that into account before making any trading decisions.
Puts are often hedges against long stock positions should they tank on earnings, especially if the put is way out of the money.
As always, respect the risk!
Top Order Flow:
- ORCL Jun24 14th Strike: 122 Puts premium: $176,400 ASK BEARISH
Trade Date: June 7, 2024 Trade Time: 12:48 pm - ORCL Jun24 28th Strike: 130 Calls premium: $132,056 ASK BULLISH
Trade Date: June 3, 2024 Trade Time: 9:39 am - AVGO Jun24 14th Strike: 1500 Calls premium: $190,000 ASK BULLISH
Trade Date: June 5, 2024 Trade Time: 11:44 am - AVGO Jun24 7th Strike: 1405 Calls premium: $129,000 ASK BULLISH
Trade Date: June 5, 2024 Trade Time: 11:23 am - SIG Jun24 Strike: 110 Calls premium: $359,992 ASK BULLISH
Trade Date: June 7, 2024 Trade Time: 12:10 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. I’m All Settled In After Vacation…
And ready to get after it!
I hosted a live trading session earlier today to teach everyone how to use my favorite trading suite…
How I leverage it for day and swing trading…
And how it picked up my No. 1 Momentum Stock for the rest of June!
You need to see this crucial briefing as soon as possible to get that stock, and a steep discount on my Platform X trading suite that expires at midnight tonight!
Don’t delay…
