Graham is live at 4 p.m. ET TODAY to discuss a new method for targeting overnight Moonshots — and I’ll be with him for the show, so let’s go!
Welp, GameStop and AMC are both down 30% or more today, a day after being up over 100%. Though, we are seeing some new action here late in the day (more on that below!)…
We hope none of you got caught long and holding the bag… The short squeezes may not be over yet, but once they’re done, they tend to fall back to earth pretty fast.
And if you get sucked into the fear of missing out and decide to buy at the wrong time, it’s super easy to get burned. And market makers have pushed implied volatility sky-high, making these options very expensive, which can crush your account when you end up on the wrong side of these dice-roll trades.
It’s fun sometimes to play the casino, but you have to be very, very careful! As we always say around here…
Respect the risk!
Putting the Wall Street casino flow to the side, let’s look at some earnings plays coming up this week…
We got an order a few days ago in Walmart (WMT), which reports earnings before the open Thursday, that’s still in play…
A trader bought the May monthly expiration, $61 strike calls, and shares are trading today just under $60. Market makers expect a move of $2.35 higher or lower.
This is a pretty cheap trade, right around $0.70. If we had a high conviction in Walmart beating earnings, we’d probably go more in the money at the $60 strike, which would give you a higher delta of 0.48 along with that higher premium. We also saw a trader buy the June 7, $40 strike calls about 40 minutes before the above order was placed. That’s a stock replacement trade with a delta right at $1.
We also saw an earnings play in Cisco Systems, and a play in Robinhood (HOOD) that’s longer dated but also came with a hefty premium invested in the deep-in-the-money option.
As I mentioned above, respect that risk! The WMT and CSCO plays are super short-dated, which means they can and will go to $0 if wrong!
Late update: Right as this newsletter was finished, we got one GME play that we threw in for you dice rollers, just for good measure. Just remember what we said above about how risky — and expensive they are!
And then at 3:25, we added some more — be sure to join my Telegram channel for real-time updates!:
- GME May24 Strike: 50 Calls premium: $144,495 ABOVE ASK BULLISH
Trade Date: May 15, 2024 Trade Time: 3:21 pm - GME Jun24 Strike: 100 Calls premium: $109,200 ASK BULLISH
Trade Date: May 15, 2024 Trade Time: 3:12 pm - GME Jun24 Strike: 50 Calls premium: $2,003,700 ABOVE ASK BULLISH
Trade Date: May 15, 2024 Trade Time: 2:34 pm
Top Order Flow:
- CSCO May24 Strike: 49 Calls premium: $165,718 ASK BULLISH
Trade Date: May 14, 2024 Trade Time: 2:18 pm - WMT May24 Strike: 61 Calls premium: $115,000 ASK BULLISH
Trade Date: May 10, 2024 Trade Time: 3:59 pm - HOOD Sep24 Strike: 15 Calls premium: $251,615 ASK BULLISH
Trade Date: May 15, 2024 Trade Time: 12:36 pm - GME May24 Strike: 35 Calls premium: $139,285 ABOVE ASK BULLISH
Trade Date: May 15, 2024 Trade Time: 1:42 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. [LIVE] Join the Moonshots Premiere With Graham Lindman and Your Boy… ME!
You guys know I love quick trades, especially in a market like this…
I just caught wind of how Graham Lindman nailed FIVE overnight trades this morning, which really caught my attention — I gotta see this for myself!
So I’ll be live with Graham at 4 p.m. ET today, May 15, to discuss his new 24-hour secret…
One that enables people to place a quick trade, and then allow it to simmer overnight.
And if everything works out, have the potential to cash in a nice chunk of change the very next day.
Obviously, Graham cannot guarantee future profits or shield against losses.
But it’s in your best interest to hear all about this 24-hour secret later today!
Join Graham Here at 4 p.m. ET!
