When Trading Volume Dries Up, It’s Time to Walk Away

by | Aug 23, 2022 | Options

In Monday’s Blitz Daily with Lance Ippolito, we take a look at energy company Occidental Petroleum as buyout rumors spike share prices

Markets are stuck in the mud and not sure which way they want to go ahead of Friday’s big Federal Reserve press conference n Jackson Hole, Wyoming.

We’re also seeing that same story play out in Tuesday’s institutional order flow…

There aren’t a lot of big options plays making it through the scanner filters, and the trades that do run the gauntlet are meeting the bare minimum.

One name seeing some flow Tuesday is our good friend Occidental Petroleum. The oil and gas stock is seeing a lot of news of Warren Buffett bidding for control of the company.

The speculation has sent shares soaring, with OXY trading around the $73.50 mark, or 6.5% over Monday’s closing price.

Just before lunch, my scanners spotted an institutional buyer scooping up about 600 contracts of the Aug. 26 expiration, $75 strike calls for around $109,000 in premium…

Again, this was around my bare minimum in a trade that’s moved over 48,000 contracts today, so you’re not going to catch me clicking them any time soon.

Like Kenny Rogers once said… 

“You got to know when to walk away,” which is exactly what I’m doing. 

But if you’re dead set at trading this chop, here are a few names hitting Tuesday’s tape…

  • Occidental Petroleum (NYSE: OXY): Aug. 26, $75 CALL. 
  • Siga Technologies Inc. (Nasdaq: SIGA): Sept. 16, $17.50 PUT. 
  • Lyft Inc. (Nasdaq: LYFT): Sept. 16, $15.50 PUT. 
  • Alibaba Group Holding Ltd. (NYSE: BABA): Aug. 26, $88 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. How to Buy the Dip When It Comes

When an abnormally large move happens in a stock BEFORE an analyst posts a new rating in the same direction…

Based on Joy of the Trade Head Trader Jeff Zananiri’s historical data, he’s seen stock options skyrocket 50%… 100%… sometimes even an incredibly rare 500% in a matter of days.

Why does this happen?? 

Click here and he’ll show you.

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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