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Tech Names Are Rallying… but the Junk Stocks Are SQUEEZING!

by | Aug 10, 2022 | Options

In Wednesday’s Blitz Daily with Lance Ippolito, we take a look at fintech company Upstart Holdings as markets soar on lower-than-expected inflation data.

July’s inflation print is in and lower than expected at 8.5%, and the market is breathing a sigh of relief Wednesday… 

The S&P 500 and the Nasdaq are both up around 2% or more, and the order flow is rolling in like a tidal wave — you love to see it! 

But even in a wave this big, it’s easy to spot a pattern in the names hitting the tape… 

They’re mostly high-valuation, high-growth names that have ugly, beaten down and bloody charts.  

And oh baby, when these names squeeze, they squeeze hard — and that’s what’s happening in the market Wednesday. 

Just take a look at our good friend Upstart Holdings… This fintech’s shares dropped around 12% Tuesday after missing analyst estimates and cutting forward guidance for 2022. 

But with a short float of over 35%, today’s bullish sentiment helped share prices squeeze as much as 17% higher! 

The bulls had a field day squeezing pig stocks — my scanners spotted one institutional buyer loading up on around 700 contracts of the Aug. 19 expiration, $29.50 strike calls for more than $170,000 in premium! Jumping from about $2.55 a contract to over $5* on the day — BANG! 

If you’re not trading institutional order flow, then what the heck are you doing?! Just take a look at these trades…  

  • International Business Machines Corp. (NYSE: IBM): Aug. 12, $132 CALL.
  • Tesla Inc. (Nasdaq: TSLA): Aug. 12, $820 CALL.
  • Coinbase Global Inc. (Nasdaq: COIN): Aug. 19, $92 CALL.
  • Upstart Holdings Inc. (Nasdaq: UPST): Aug. 19, $29.50 CALL.
  • Lemonade Inc. (NYSE: LMND): Sept. 16, $27 CALL.

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!

*Not indicative of any future results. Trade at your own risk

WRITTEN BY<br>Lance Ippolito

Lance Ippolito

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