Bulls Target Top Chipmaker as Shares Squeeze Higher

by | Jul 7, 2022 | Options

In Thursday’s Blitz Daily with Lance Ippolito, we take a look at semiconductor stock AMD after a series of bullish analyst reports. 

If you’re not trading weekly calls in the high-growth, high-multiple, highly shorted, high-beta names right now, then what are you doing?!

It’s been another huge day of trading these junk names — and it’s almost too much fun for one trader to handle! 

Markets saw more massive inflows of cash Thursday into options chains as these beaten-down companies that continue to squeeze higher.

One growth name on the move was our good friend, AMD… The chipmaker is seeing a fresh round of positive headlines from analysts. Morgan Stanley, Northland Capital and now Bernstein Research each offered bullish guidance in the past two weeks — with Bernstein reaffirming its $135 price target — almost 70% higher than AMD’s current stock price around $80.

The news helped spike AMD 6% higher and had institutional buyers dropping chunks of cash on options plays up and down the chain, including around 2,800 contracts of the July 8 expiration, $80 strike calls for about $225,000 in premium!

And it’s not the only fast-moving growth name hitting the tape…

  • Advanced Micro Devices Inc. (Nasdaq: AMD): July 8, $80 CALL.
  • Applied Materials Inc. (Nasdaq: AMAT): July 29, $92 CALL.
  • Nvidia Corp. (Nasdaq: NVDA): July 8, $155 CALL.
  • Tesla Inc. (Nasdaq: TSLA): July 8, $715 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!

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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!

WRITTEN BY<br>Lance Ippolito

WRITTEN BY
Lance Ippolito

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