In Wednesday’s Blitz Daily with Lance Ippolito, we take a look at communications name Meta Platforms after social
We’re seeing more choppy price action Wednesday with the major inexes down around 0.5% on low volume.
Like we talked about this past week, sometimes you have to know when to walk away from your computer because trading just to trade is a great way to get in trouble fast…
And while I don’t love this action, we are seeing some big orders hit the tape including outsized bets in our old friend Meta Platforms (Nasdaq: META).
Communication stocks had a slate of bullish news starting with Snap Inc. (NYSE: SNAP) shares bouncing as much as 16% after selling off in the premarket after announcing its parent company would lay off staff.
Meta saw a similar 6.5% jump on news that it would be shuttering its gaming livestream platform in late October as the bulls ran wild picking up shares and contracts by the fistful.
Just after midday my scanners picked up one degenerate trader scoop up around 1,100 contracts of the META Sept. 9 expiration, $170 strike calls for about $335,000 in premium!
And I have more of Wednesday’s biggest options action waiting inside including a surprisingly bullish semiconductor buy…
- Advanced Micro Devices Inc. (Nasdaq: AMD): Sept. 16, $86 CALL.
- Meta Platforms Inc. (Nasdaq: META): Sept. 9, $170 CALL.
- Carvana Co. (NYSE: CVNA): Sept. 16, $35 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. I’ll never forget the day…
I was sitting down with a Nasdaq market statistician while he explained the calculations he used to determine bullish and bearish moves.
And what he said blew me away…
I couldn’t stop thinking about it, wanting to put what I learned into use in my OWN trading…
Fast forward four years later… and I did it!
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!