In Wednesday’s Blitz Daily with Lance Ippolito, we take a look at social media company Snap ahead of its upcoming earnings event.
Markets flipped green following the release of the minutes from June’s Federal Reserve meeting.
As we saw in our previous Blitz Daily, the tech and junk names are outpacing the broader market and are continuing to lead the way up Wednesday.
This time the big money is coming after Snap who is set to report earnings on June 21.
Is the chart horrendous? You know it is!
But none of that matters when you’re trading short-term options in this market!
With shares trading around $14.50, we spotted institutional buyers shell out around $1 million in premium on the July 22 expiration, $15 strike calls!
The stock price is just over $2 from its 52-week lows right now…
How much lower can it go? No one can say… but these smart money traders are looking for a short squeeze gap up to the upside — and so am I!
Of course that’s not the only name seeing unusual order flow Wednesday…
- Snap Inc. (NYSE: SNAP): July 22, $15 CALL.
- BP PLC (NYSE: BP): Aug. 19, $26 PUT.
- XPeng Inc. (NYSE: XPEV): Aug. 19, $30 CALL.
Check out my short video and I’ll break down the day’s most unusual options order flow in no time flat!
And to find out how I trade “Shadow Blitzes” like these as they hit the scanner, check out my Weekly Blitz Alerts strategy!
P.S. You’re invited to accompany me on a virtual trading journey…
A live, online adventure delving into the world of options like no one has ever experienced!
Join me for my Options Master Workshop Series lasting from Monday, July 11, to Friday, July 15…
I only have one goal in mind during these live sessions:
To take everyday traders from Option Zero to Option Hero — in only five days!
Blitz Daily With Lance Ippolitto
At Weekly Blitz Alerts, we like to print money, baby! I know, I know, you’re probably thinking, “Lance, how do we do that? Print money? Come on…”
But in all seriousness, 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!