We saw markets catch a nice bid Friday to cap off what has been an extremely volatile opening week of 2023.
The herd continues to run hot and cold with knee-jerk reactions over the latest headlines…
On Thursday, we mentioned why a strong labor report right now is bad… Then on Friday, we learned that what Wall Street is really worried about — wage growth — is slowing, so the market is happy again, for now.
But no matter the reason, it means traders need to stay selective when buying and selling on any rip we come across…
That mindset has paid off for our New Money Crew strategies this week, with the top return going to our trade on an old favorite… Las Vegas Sands Corp (Nasdaq: LVS)!
The gambling and travel name received a serious lift thanks to China’s recent reversal on lockdown restrictions for COVID-19. Analysts at Wells Fargo then raised the target price Tuesday from $45 a share to $53.
The news helped spike shares over 3.5%, which in turn sent our Jan. 13 expiration, $48 strike calls to the moon, collecting a 66.7%** return over the weekend.
That, combined with a 27%** return on Baker Hughes Co. (Nasdaq: BKR), brought our Wiretap Alerts win rate up to 72.8% with an average return of 11.9% — including all winners and losers — since we debuted the strategy on Sept. 24, 2021!
And those are just two of the fantastic wins we reeled in for the New Money Crew strategies…
Option Flow Running Wild Into the Weekend!
Of course, it helps when the options flow is running hot like it has been all week, and Friday was no exception…
The bulls were out in force to close the week, and they had several semiconductor stocks in their sights.
Among the names seeing outsized bets Friday was Marvell Technology, fresh off making a new 52-week low.
Wondering what those little arrows mean and how they can help improve your trading? Get the details here!
Shares of the chipmaker have struggled out of the gate, dropping more than 2% in the new year despite seeing analyst upgrades earlier in the week.
But the bulls are hot on the sector and my scanners spotted one degenerate dip buyer sweeping up about 1,000 contracts of the March 17 expiration, $37.50 strike calls for more than $240,000 in premium!
And if you want more chip names to play the dip, you’re in the right place…
- Marvell Technology Inc. (Nasdaq: MRVL): March 17, $37.50 CALL.
- Tesla Inc. (Nasdaq: TSLA): Jan. 13, $106 CALL.
- Advanced Micro Devices Inc. (Nasdaq: AMD): Jan. 20, $62 CALL.
- Exact Sciences Corp. (Nasdaq: EXAS): Jan. 20, $40 PUT.
Check out my short video as I break down the day’s most unusual options order flow in no time flat!
P.S. Don’t Buy or Sell Another Stock Without Seeing This First
I’m about to expose my favorite trading tool I’ve ever come across…
A tool that can be used by traders and investors of all skill levels…
It’s something I think could influence retail trading in a big way!
And it has nothing to do with stock scanners, order flow, technicals, tech stocks, crypto or anything like that.
In fact, it all boils down to a single indicator…
And what this indicator is showing me is alarming…
Let Me Show You How to Use It…
Blitz Daily With Lance Ippolitto
At Weekly Blitz Alerts, we follow the big fish and what they’re buying. And we do that with my proprietary Blitz Scanner, which alerts me to big, institutional order flow through the day. Then we get in on these plays and follow the “smart money.”
The Blitz Daily with Lance Ippolito is where I go over a few options trades that hit the Blitz Scanner each day, Monday through Thursday. I break down the trades with the sexiest order flow and tell you what could happen with those stocks by the next day’s opening bell.*
If you want in on these explosive options plays, be sure to sign up for Weekly Blitz Alerts! We send entry, profit targets and exits directly to you via text and email alerts.
In the meantime, you can check out our YouTube channel for more trading insights and tips. And as always, you can find me right here talking stocks and options trading on newmoneycrew.com and WealthPress.com!
*This is for informational and educational purposes only. There is inherent risk in trading, so trade at your own risk.
**Stated results are atypical for given period. Past performance is not indicative of any future results. Trade at your own risk.