After a nasty reversal in the opening minutes of Tuesday’s trading, it’s been a sleepy day for stocks and options… But that doesn’t mean we want to get caught napping on the big orders hitting the tape!
In Tuesday’s Blitz Daily with Lance Ippolito, we take a look at basic materials company Freeport-McMoRan as options activity jumps ahead of its July 21 earnings event.
We’ve seen some large call buying in the copper names hit the tape since Monday’s pullback.
The red metal has been hit hard by high inflation and strict COVID-19 lockdowns in China during the second quarter. Copper miners like Freeport have been cut in half since the end of March.
Bullish traders were out in force buying the blood on Tuesday with institutional buyers snatching more than 800 contracts of the Aug. 19 expiration, $28 strike calls for about $130,000 in premium!
Of course, that wasn’t the only name seeing outsized options activity. I have five more top trades hitting Tuesday’s tape waiting below…
- Apple Inc. (Nasdaq: AAPL): July 15, $147 PUT.
- Teck Resources Ltd. (NYSE: TECK): Aug. 19, $26 CALL.
- Freeport-McMoRan Inc. (NYSE: FCX): Aug. 19, $28 CALL.
- Delta Air Lines Inc. (NYSE: DAL): July 22, $30 CALL.
- ARK Innovation ETF (NYSEArca: ARKK): Aug. 19, $45 CALL.
- Blackstone Inc. (NYSE: BX): July 15, $93 PUT.
Check out the short video, see me slam some calls, and I’ll break down the day’s most unusual options order flow in no time flat!
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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!