ITPM Podcast

ITPM Flash provides insight into what professional traders are thinking about in the markets RIGHT NOW!   Mega-cap tech has dominated markets in recent times. But what if that era is starting to shift?   In this episode of ITPM Flash, Raj Malhotra lays out the case for a meaningful capital rotation away from large-cap software — specifically into industrial metals. Hedge funds and mutual funds have not fully repositioned yet, but even a small reallocation out of trillion-dollar mega caps into much smaller commodity-focused stocks could create outsized moves.   Copper sits at the centre of this shift. Electric vehicles use multiples more copper than traditional cars. Power grid upgrades require it. Wind, solar and charging infrastructure depend on it. And AI data centres — now absorbing hundreds of billions in capital expenditure — are deeply copper intensive.   On the supply side, the picture is tight. New mines take nearly two decades to develop. Ore grades are declining. Major producers face disruption. All the while, even Wall Street may be underestimating how price-insensitive hyperscalers are as supply tightens further.   Raj explains why this may be the early stages of a structural leadership change in markets — and outlines an options structure designed to capture potential upside in Freeport-McMoRan if copper prices accelerate.   The rotation may just be beginning.

ITPM Flash provides insight into what professional traders are thinking about in the markets RIGHT NOW!   Industrial data is beginning to re-accelerate, and energy markets are taking notice.   In this ITPM Flash, Philip Klien examines the early signs of a potential offshore supercycle. The ISM Manufacturing index has moved back into expansion, with new orders leading the move higher — a signal that industrial demand may be turning. Crude has already strengthened year to date, but the more important shift may be happening in offshore supply.   Ultra-deepwater drillships are expensive, time-consuming to build, and new capacity is limited. As day rates rise through key thresholds, operating leverage increases sharply. At the same time, Transocean's all-stock acquisition of Valaris tightens industry supply further while improving balance sheet quality.   This episode breaks down the macro inflection, the structural supply constraints, and why consolidation may amplify pricing power — alongside the execution and regulatory risks traders need to consider.   If industrial momentum holds, offshore could move from recovery to repricing and $RIG is the leveraged play.

ITPM Flash provides insight into what professional traders are thinking about in the markets RIGHT NOW!   Precious metals and AI may be dominating headlines, but this week's asymmetrical opportunity sits somewhere very different.   In this ITPM Flash, Anthony Iser looks at an unexpected corner of the market: US egg producers. Wholesale egg prices have fallen sharply, production has rebounded, and the sector has been hit with heavy de-ratings. But beneath the surface, not all egg businesses are exposed in the same way.   This episode contrasts a highly cyclical, price-taking commodity producer with a branded, premium growth business that is far less sensitive to wholesale price swings. A combination of falling egg prices, negative headlines, and a one-off margin issue has driven a sharp sell-off, pushing valuations to levels not seen in years — despite very little change to the underlying earnings outlook.   With results approaching, the market may be mispricing earnings resilience and longer-term structural growth. Anthony explains why this setup represents a non-tech, asymmetric opportunity, and outlines an options structure designed to capture the upcoming catalyst with an attractive risk-reward profile.

ITPM Flash provides insight into what professional traders are thinking about in the markets RIGHT NOW!   Precious metals have started 2026 with explosive momentum. Gold, platinum, and silver are all surging — but stretched valuations and increasingly parabolic price action raise important questions about what comes next.   At the same time, a different pressure is quietly building in the US economy: electricity. Rising power costs, driven in part by the rapid expansion of AI data centers, are becoming a political issue — with potential consequences for how the AI trade evolves from here.   In this episode, Jason McDonald explains why power grid infrastructure may offer a cleaner and more durable way to express the AI theme than chips or data centers themselves.

ITPM Flash provides insight into what professional traders are thinking about in the markets RIGHT NOW!   The market is selling SaaS indiscriminately — and AI fear is driving the narrative.   In this episode of ITPM Flash, Dieter breaks down why not all SaaS is exposed to AI in the same way, and how the current selloff is confusing white-collar software with software built for the physical economy.   He focuses on ServiceTitan, a SaaS platform serving the trades industry, and explains why its customers can't simply replace it with AI agents or in-house tools. When software is embedded in dispatch, payroll, inventory, and payments, switching isn't trivial — and AI doesn't change that.   The result? A business with high switching costs, sticky demand, and a long growth runway that's being sold off alongside far more vulnerable SaaS models.

ITPM Flash provides insight into what professional traders are thinking about in the markets RIGHT NOW!   Rising geopolitical tensions are reshaping the macro environment and creating new tradeable opportunities across global markets. In this episode, Ben Berggreen outlines a top-down trading approach, starting with macro and geopolitical developments, filtering into sector rotation, and identifying where capital is likely to move as narratives shift. Following the capture of Venezuela's president, markets have reacted unevenly, but for traders the focus is on how geopolitical risk, defense spending, and global instability translate into medium-term positioning rather than political debate.   Ben explains why defense stocks moved immediately into focus and why smaller, innovation-driven defense companies can offer more asymmetric setups than large-cap incumbents. He then breaks down a bullish options trade in AeroVironment ($AVAV), discussing how military contracts, Department of Defense spending, earnings timing, and volatility shape the risk-reward. The episode focuses on defined-risk options strategies, flexibility around earnings, and managing outcomes as price action develops.

ITPM Flash provides insight into what professional traders are thinking about in the markets RIGHT NOW!   The K-shaped economy is widening — and markets are still pricing only the winners. In this episode, Ed breaks down why the AI-driven data-center supercycle has become a macro force, propping up growth, earnings, and asset prices while masking deepening stress in the real economy. With the top 10% now driving half of all discretionary spending, the system is increasingly dependent on rising asset values rather than wage growth.   Ed argues the real risk isn't inflation — it's consumer spending. As AI boosts productivity without job growth, anxiety around employment could tip the lower arm of the K into contraction, triggering credit stress, falling discretionary demand, and a negative wealth effect that eventually hits equities. He outlines how traders should position for volatility, where patience matters most, and which macro triggers would signal when the K-shaped economy finally breaks.

ITPM Flash provides insight into what professional traders are thinking about in the markets RIGHT NOW!   Apparel stocks have been left behind as consumer preferences shift and discretionary spending remains under pressure. Philip Klein turns to VF Corporation ($VFC), a former market leader whose shares collapsed from triple digits as brand missteps, rising debt, and weakening demand hit the business.   He walks through what went wrong — from the overpaid Supreme acquisition to Vans losing relevance — and what has started to change under new CEO Bracken Darrell. With costs coming down, debt being reduced, insider buying signalling confidence, and early signs of stabilisation across key brands, the episode explores this turnaround story and presents a high reward options structure for 2026.

ITPM Flash provides insight into what professional traders are thinking about in the markets RIGHT NOW!   Volatility is rising, speculative names have already been hit, and Ben Berggreen shifts the focus to a new weak spot: consumer discretionary. With sentiment collapsing, unemployment ticking higher, and holiday spending under pressure, several stocks look exposed.   Ben highlights Ulta Beauty ($ULTA) — a company facing slowing growth, margin pressure, and its first loss of market share — yet still trading near the top of its multi-year range. With earnings in early December, he walks through a bearish calendar ratio put spread offering asymmetric reward if the stock rolls over.  

ITPM Flash provides insight into what professional traders are thinking about in the markets RIGHT NOW!   In this episode of ITPM Flash, Jason McDonald takes a deep dive into the US dollar, current FX positioning, and the macro forces that could drive a rotation in risk assets.   Jason walks through multi-year charts of the trade-weighted dollar, investor positioning, and the key rate differentials that drive FX markets. He then connects the macro outlook directly to equity risk assets, explaining which companies benefit from a strong dollar ($HD, $TJX, $DG) and which companies face headwinds ($MCD, $AAPL, $MSFT). He also presents a high-conviction rotation idea: long $IWM / short $QQQ via call and put spreads, taking advantage of decade-low relative valuations in small–mid caps and stretched pricing in mega-cap tech.

ITPM Flash provides insight into what professional traders are thinking about in the markets RIGHT NOW!   The world is going electric faster than you think — but not just for passenger cars.   In this episode of ITPM Flash, Philip Klein presents Microvast ($MVST) — a U.S.-based advanced battery company powering the commercial EV revolution.   While Tesla and Rivian dominate headlines, the commercial EV space is growing even faster — and Microvast is solving its biggest bottleneck: charging speed. With batteries that charge to 80% in 10 minutes, a breakthrough in solid-state technology, and partnerships with BMW and GM, this $1.8B company is positioned to benefit from powerful tailwinds in electrification, regulation, and energy storage demand.   Philip walks through the company's fundamentals, catalysts, and valuation — including strong revenue acceleration, U.S. expansion, and a calendar ratio call spread options trade designed to capture high implied volatility and asymmetric upside.

ITPM Flash provides insight into what professional traders are thinking about in the markets RIGHT NOW!   Slowing job creation and stagnant wages make Cintas ($CTAS) uniformly stretched.   In this episode of ITPM Flash, Edward Shek presents a short idea on Cintas ($CTAS) — the U.S. market leader in workplace uniforms and hygiene services. While Cintas has delivered years of steady growth and trades at premium valuations, Ed argues the story is uniformly stretched. With job creation slowing, wage growth stagnating, and little evidence of a broad cyclical recovery, Cintas faces structural headwinds that could pressure earnings and trigger multiple compression. He outlines the company's fundamentals, exposure to employment trends, and explains why a January vertical put spread offers an attractive way to express the view.

ITPM Flash provides insight into what professional traders are thinking about in the markets RIGHT NOW!   Defense stocks are booming in 2025 — and Huntington Ingalls ($HII) might be the biggest winner of them all.   In this episode of ITPM Flash, Dieter Plas presents a long idea on Huntington Ingalls Industries ($HII) — America's largest military shipbuilder and a cornerstone of U.S. defense infrastructure. With rising geopolitical tensions, a $50B+ backlog, and new post-COVID contracts that restore pricing power and margins, Dieter explains why HII offers compelling earnings optionality even in a messy macro environment. He walks through the company's fundamentals, margin recovery, cost-cutting efficiencies, and outlines a calendar spread options trade designed to capture both credit income and upside potential into year-end.

ITPM Flash provides insight into what professional traders are thinking about in the markets RIGHT NOW! In this episode Anthony Iser is looking past the noisy macro backdrop and backing a proven roll-up model in the fragmented building materials sector. Serial dealmaker and CEO Brad Jacobs has injected over $1B of his own capital in to QXO and is executing the same acquisition strategy that's delivered spectacular returns in the past. With the first deal already bedding in, $2B of fresh funding raised, and Wall Street only just initiating coverage, the stock looks primed for a rerating.

ITPM Flash provides insight into what professional traders are thinking about in the markets RIGHT NOW! In this episode Ben Berggreen revisits his June long play on Unity Software — with the underlying now up nearly 80% — before turning to a fresh small-cap tech idea: Ondas Holdings. With its mix of government-backed networking contracts and fast-growing autonomous drone business, Ondas offers a speculative but exciting growth story despite cash burn and dilution risks. Ben walks through the macro backdrop around the FOMC meeting, the company's improving earnings profile, and how he's structuring a call ratio spread to capture potential upside into year-end.

ITPM Flash provides insight into what professional traders are thinking about in the markets RIGHT NOW! In this episode, Edward Shek revisits the SaaS de-rating theme before shifting focus to a stealth data center trade in Chemours (CC). Despite years of "tough love" as a low-growth cyclical, the stock is 50% off the summer lows and now has three clear catalysts in refrigeration, cost savings, and legal overhangs. The real excitement, however, lies in next-gen liquid cooling, where CC's Opteon technology has just hit commercial qualification with Samsung — the SSD market leader. With partnerships lining up, a forward P/E of 10, and potential rerating upside, Ed outlines a long-dated vertical call spread into January 2026 that could deliver a five-bagger if Chemours becomes a genuine data center winner.

ITPM Flash provides insight into what professional traders are thinking about in the markets RIGHT NOW! Chipotle's $13 burritos aren't selling like they used to — and Raj Malhotra thinks the growth story is over. With sales stalling, margins slipping, and a sky-high valuation, CMG could be heading for a major re-rating. In this episode, Raj presents his short idea on Chipotle Mexican Grill, and the options structure he's targeting into earnings.

ITPM Flash provides insight into what professional traders are thinking about in the markets RIGHT NOW! In this episode, Edward Shek dives into the cracks forming in the SaaS business model and what it could mean for major players like Salesforce (CRM). From commoditization of code and AI-driven efficiency pressures to the dominance of hyperscalers swallowing entire markets, the moat around many software companies is vanishing fast. We look at examples like GoDaddy, Wix, and Duolingo to show how pricing power is collapsing, before turning to Salesforce itself—where slowing growth, high CapEx, and a reliance on efficiency gains raise big questions about valuation. With the market crowded on the long side, we explore a November put spread structure that targets a 20% de-rating and a potential 450% return if the bear case plays out.

ITPM Flash provides insight into what professional traders are thinking about in the markets RIGHT NOW! In this episode, Ben Berggreen breaks down a high-conviction short opportunity in the energy space, triggered by a sudden shift in ISM sector data and weakening fundamentals in major oilfield service companies. Focusing on Schlumberger, he outlines a bearish calendar put spread targeting downside into earnings, with a 3:1 reward-to-risk profile. Ben also explores a broader macro angle, noting softening crude oil positioning among large speculators and offering an alternative, simpler XLE put play to capture a September–October market pullback. Both setups aim to combine macro, fundamental, and technical alignment for maximum edge.   ITPM Flash Episode 86 A Slippery Slope with Ben Berggreen || Filmed 11-Aug-2025, Uploaded 14-Aug-2025 ||

ITPM Flash provides insight into what professional traders are thinking about in the markets RIGHT NOW! In this episode, Anthony Iser breaks down the current market mood, which is cautiously optimistic despite mixed economic data. He highlights strong corporate earnings, especially in tech, and massive ongoing hyperscaler CapEx as key positives, while retail data and AI names are also showing strength. However, he warns of risks beneath the surface: weakening employment data, margin pressure, and rising input costs all hint at stagflation risk if inflation stays hot and the Fed delays rate cuts. To hedge this downside scenario, Anthony walks through a protective bear put spread on the IWM, targeting small caps likely to be hit hardest in a slowdown.   ITPM Flash Episode 85 Mid-Cap Insurance with Anthony Iser || Filmed 07-Aug-2025, Uploaded 08-Aug-2025 ||