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If you know how I trade, then you know I love, love LOVE short-dated, “cheap” options. And, normally, when it comes to the big banks… I’m not a big fan of trading them because, for the most part, they barely move — that’s why I often call them the “boring banks”! But I do at least take a look at them during earnings season, which begins again this week. And something is different this quarter, which I’m calling the “Bank Blowout 2024” — more on that in a bit, let’s get to this trade idea first… The big banks begin reporting on Friday with the likes of JPMorgan (JPM), Wells Fargo (WF), BlackRock (BLK) and Citi (C) all going before the open. And being the generous sort that I am, I’d like to share an earnings play* that’s been peppering the order flow the past couple of weeks in a particular bank. Keep in mind that this is an earnings play in a short-dated option. If wrong, this can and will go to $0 the moment the bell rings Friday morning, so you must — as always — respect the risk involved here. This is a great chance to paper trade this and see how it does, and then time your exit appropriately. I normally like to exit at least some contracts on the morning pop, and maybe leave a little left open to run, especially if the market is strong. So here’s a juicy trade that hit my News Flow Scanner just this morning: This is an April 12 expiration, $61 strike call option in C to the tune of $196K in premium paid. This call option got a bit cheaper than what the big buyer paid after the stock sold off along with the market this morning. Now, back to Bank Blowout 2024 and why I believe this will be the case this year especially… Interest rates have been over 5% for quite some time now, and this should help the banks as far as wider net interest margin. This normally translates to higher profits for the big not-so-boring banks. In fact, there are FIVE reasons we’re bullish on banks right now, and I just so happen to have a Bank Blowout 2024 prospectus that gives them along with my top 9 bank stocks and some history for this earnings season. I’ll be live at 2 p.m. ET TODAY, April 9, to cover the Bank Blowout 2024, and exactly how we can trade it. If you’d like to grab the report and attend the event, all you have to do is go here! The Lance Ippolito Trading team Follow along and join the conversation for real-time analysis, trade ideas, market insights and more! Telegram: https://t.me/+-gVwEIwGJhplMTgx *This is for informational and educational purposes only. There is an inherent risk in trading, so trade at your own risk. Don’t Miss Lance’s Top 9 Bank Stocks for Earnings Season Lance Ippolito is going live at 2 p.m. ET today, April 9, to share a free rundown on nine banking stocks to target in April. He believes banks like JPMorgan, Wells Fargo, Citigroup, and others are poised to have a blowout earnings season this month. And like always, he'll look for a way to trade those names ahead of their reports. While he cannot guarantee you future profits or against losses, you still want to see which stocks have profit dates for this month. Save this email and… Want to get a link to TradingPub content, trade ideas, real-time market analysis and educational tidbits? We have you covered! Telegram is an entirely free messaging app and getting access is as easy as 1… 2… 3… 1. Download Telegram on your mobile device (Before you can add Telegram to your desktop computer, you must download the application on your phone and create your account: To download to your iPhone, click here. To download to your Android device, click here. After the download is complete, please create an account. NOTE: You can manage your privacy settings by clicking “Settings,” and then “Privacy & Security.” 2. Download Telegram on your desktop: Once you’ve downloaded Telegram onto your mobile device and created your personal account, you can download it onto your desktop computer. To download onto your PC, click here. To download onto your MacOS, click here. 3. Then add our channels by clicking these links!
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