Bearish Traders Bet on Bloodbath for ‘Failing’ New York Times

by | Aug 2, 2022 | Options

In Tuesday’s Blitz Daily with Lance Ippolito, we take a look at publishing icon The New York Times as its parent company gets set for earnings.

Markets are seeing more choppy action Tuesday as the indexes move sideways… 

And we’re seeing a lot of big hedging action, mostly in tech options. But one name stuck out like a sore thumb among Tuesday’s bearish action… The “failing” New York Times. 

The Gray Lady’s parent company is gearing up to report earnings ahead of Wednesday’s open, and although consensus estimates expect revenue to be in line — something is brewing in the options market. 

Bearish activity was picked up and market makers are expecting a $5 move higher or lower as shares hover above the $31 mark — about a 16% move. 

My scanners spotted institutional buyers early Tuesday sweep up about 600 contracts of the Aug. 19 expiration, $32 strike puts for around $105,000 in premium! 

This isn’t a name that normally trades a lot of options. And that order alone is 50% higher than the 30-day average options volume! 

Of course, that’s not the only name hitting the tape Tuesday…  

  • Nvidia Corp. (Nasdaq: NVDA): Aug. 5, $195 CALL.
  • Amazon.com Inc. (Nasdaq: AMZN): Aug. 5, $163 PUT.
  • Advanced Micro Devices Inc. (Nasdaq: AMD): Aug. 5, $108 CALL.
  • The New York Times Co. (NYSE: NYT): Aug. 19, $32 PUT.
  • Alphabet Inc. (Nasdaq GOOGL): Sept. 16, $110.50 PUT.

Check out my short video and I’ll break down the day’s most unusual options order flow in no time flat! 

P.S. We thought we’d seen just about everything inside financial markets…

But this is on a whole new level!

In the past few years, these tiny arrows have made some incredible calls in the stock market…

And now, they’re causing a big stir!

See How It Works

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 Tracker, which alerts me to big, institutional options order flow throughout the day. Then we get in on these plays and follow the “smart money.”  

By doing this, we cash in whether the broader market is going up, down or sideways. 

The Blitz Daily with Lance Ippolito is where I go over a handful of options trades that hit my Blitz Tracker each day, Monday through Thursday. I will break down the trade with the sexiest order flow and tell you exactly what I think can happen with that stock by the next day’s opening bell. 

If you want in on these fast-moving options plays, with entry, exit and profit targets sent directly to you via text and email alerts, be sure to sign up for Weekly Blitz Alerts!  

In the meantime, you can follow me @LanceIppolito on Twitter, Instagram and our YouTube channel for more trading insights and tips. And as always, you can find me right here talking stocks and options trading — and printing money — on WealthPress.com!

WRITTEN BY<br>Lance Ippolito

WRITTEN BY
Lance Ippolito

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