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With Earnings Around the Corner, We’re Starting to See Some Flow Into the Banks

by | Dec 30, 2024

LIVE AT 2:30 PM ET: Santa Rallies deliver an average 3% gain in the S&P 500. See the tickers we’re targeting to 10X-20X that number!

You know what happens when earnings season ends? 

Another one is right around the corner…

And kicking off earnings season once again two short weeks is the big banks. Names like JPMorgan (JPM), Citi (C ), Wells Fargo (WFC) and more get things underway starting on Jan. 15. 

And with the markets bleeding red to kick off the new trading week — with two trading days sandwiching an off day on Wednesday for New Year’s, we just so happened to catch a couple of short orders in one of those aforementioned banks…

Citi. 

We saw two different orders hit both the News Flow Scanner and Penny Options Dashboard, both in the Jan. 10 expiration, $70 strike puts. 

Now, puts are often downside hedges. But with shares trading at $70.75 this afternoon, these are in the money, which is a good sign. So these could be worth a look, especially if the market continues sinking this week. 

We often like to see these earnings bets a couple of weeks out. That way, if things work out in our favor, we can ride the momentum up or down and exit most contracts before the earnings event, leaving on a runner to capture a potential home run. 

We’ve also seen some repeat buying in a familiar name that has seemingly been waiting for buyout news for months now: U.S. Steel (X). 

We’ve seen two bullish orders in X the past few days, and with the stock being one of the few names actually up today, bullish traders grabbed the Jan. 3 and Jan. 10 $34 and $36 calls, respectively. 

If a trader was feeling especially bullish on these X calls, one could also take a look at the Jan. 31 as a longer-dated alternative. 

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

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*This is for informational and educational purposes only. There is inherent risk in trading, so trade at your own risk. 

P.S. LIVE AT 2:30 PM ET: How to Get the Best Out of a Potential Santa Rally

Join me and Kane Shieh LIVE at 2:30 p.m. ET, when we’re revealing the tickers that are poised to soar higher than the average S&P 500’s Santa Claus rally gain…

And more importantly, we’ll also share our top strategy for targeting huge opportunities on these tickers…

Naturally, no one can guarantee wins or prevent losses… 

And while the market is down today, there still could be some legs left in this Santa rally — and if there’s any time to take our best shots at it, IT’S NOW!

So if you’d like to see how we’re prepared to make the best out of this rally, plus how you can do it, too…

Join the Live Room at 2:30 PM ET!

WRITTEN BY<br>Lance Ippolito

WRITTEN BY
Lance Ippolito

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