Hey trader,
With markets closed for Memorial Day, the short trading week kicked off with a major gap up at the open…
We saw some fantastic trading with a nice move in tech and growth names like our old friends AI!
But even with the tape dropping back around where we closed Friday, we’re seeing a ton of names flood the scanner to start the holiday-shortened week…
Those names include green energy company Canadian Solar, which got a nice pop in the first 30 minutes of Tuesday’s trading after making its first offering of shares on the Shanghai stock exchange!
With shares leaping as high as 4% over Friday’s closing price, my scanner spotted one degenerate trader scooping up about 3,200 contracts of the July 21 expiration, $50 strike calls for just shy of $400,000 in premium!
And if that doesn’t give you a warm, sunny feeling, there’s more outsized options flow where that came from…
- Canadian Solar Inc. (Nasdaq: CSIQ): July 21, $50 CALL.
- Cisco Systems Inc. (Nasdaq: CSCO): Aug. 18, $50 CALL.
- Intel Corp. (Nasdaq: INTC): June 16, $30.50 CALL.
Moves like this are why I love trading live with readers any chance I can get… A lot of these trades move so quickly that if you’re not there to catch them rolling across the wire, it’s already too late!
That’s why it helps to have trading tools like my scanner that can pipe these big movers to your screens as they happen.
So if you didn’t get a chance to see it in action at the open, join me at 3 p.m. ET Wednesday to trade the close and see it with your own eyes!
