Hey, options scanner fans –
I’ll be the first to admit; the number of signals hitting my custom scanners was a little lighter than I’d like to start the week.
Chalk it up to the bond market holiday, though, because I think the activity is about to ramp up in a big way… because second-quarter earnings season is right around the corner.
Plus, I still found some killer trades – “official” signals and quick-turnaround day plays – to start earnings season strong.
Check it out…
Stay Tuned: October’s About to Get Hot
JPMorgan Chase (JPM) reports tomorrow morning, along with big names like BlackRock (BLK) and Delta Air Lines (DAL). And over the next few weeks, we’ll be seeing hundreds of companies per day releasing their quarterly reports.
I’ll be following the flow on low-priced options VERY closely to see where high-dollar bets are being placed… and I’ll update you right here when I see an actionable signal that catches my eye.
In the meantime, let’s dig into Monday’s big signals – specifically, massive flow on a meme stock, and a quick-win day trade on TSLA.
“Everything I see today is so small!”
That was me shortly after the opening bell Monday, as the post-weekend action got off to a slow start…
And then the big-money players said, “Oh yeah, AK?”
I had to wait about an hour into the session, but an absolutely INCREDIBLE series of eye-catching call trades crossed the tape, one right after the other – and it turned into an absolute ripper of a day trade on an e-commerce meme stock.
Where’s the money?
Well, AK, how’s this for size?
Check out these successive blocks of October 15 and 22 $5.50 calls on ContextLogic (WISH), with a “bonus” trade on the weekly $6.50s up top:
I didn’t spot any specific news or upcoming events on this “Reddit Mafia” favorite – just a ton of short-term call flow.
In fact, these trades on WISH lit up two of my proprietary alerts: my Penny Spike scanner AND the Day Trade scanner.
How do I get some?
When I see a day trade opportunity like this crop up, I don’t hesitate. I sent out this alert to everyone in my Project 303 live trading room to follow along with the flow on the WISH by picking up the October monthly $5.50 calls for $0.12:
And less than a minute later, these options had blown past my first profit target to trade at $0.20! That made these super low-priced calls an ideal day-trade play for quick gains.
So why’d I pick the shorter-term Oct. 15 monthlies over the Oct. 22 weeklies? For a day trade, they were just a little cheaper – so I cashed in that much quicker on the idea.
WISH wasn’t the only idea to hit my radar for a fast-turnaround trade, either – check it out.
Hungry for More Action…? LUV, CVS, and PAGS
Even on a quiet session, there were more actionable plays hitting my scanner today – including a sizable trade on CVS, big call flow on Southwest Airlines (LUV) after weekend cancellation headlines, and major buying on PAGS even as the stock got hammered so hard that short selling was restricted.
How do I find these hot trades as soon as the setup appears? It’s all down to my custom scanners – and there’s never been a better time to join my upgraded 1450 Club, featuring all-day access to my most powerful trading tool & daily afternoon training sessions.
The most explosive time of the year to trade options is here – join me live NOW in 1450 Club.
In the Spotlight: TSLA 5-Minute Bar Buy
One of my morning rituals is to check out some of the mega-cap tech stocks for opportunities to go long based on 5-minute bars.
Today, we got a buy signal on TSLA at $789.90 just a few minutes into the session…
…and then the stock ripped up above $800.
Courtesy of stockcharts.com
There are a few ways to trade these 5-minute buy signals – the simplest is simply buying the shares and holding either until the close, or until you achieve your target profits (sometimes in minutes, as with TSLA).
Alternately, a weekly $805 call on TSLA could help you capture more upside momentum – but be aware, these signals can play out in the course of just a day.
If you can’t get enough fast-moving day trades like WISH and TSLA, join Kenny Glick LIVE for the VWAP Locked & Loaded event this Wednesday, October 13.
At 9:30 AM Eastern, he’s going to reveal why he only uses one single indicator in his day trading – and why it’s the only indicator YOU need to trade stocks in this fast-moving market.
Sign up here to spend Wednesday morning with the Warlock – you won’t want to miss this!
Alright, scanner fans – that’s it from me for today.
I’ll be back tomorrow with a deeper dive into earnings season & the latest hot signals to hit my scanner.