Bulls Jump on Tech’s Dip Following Ugly Inflation Print

by | Jul 13, 2022 | Options

In Wednesday’s Blitz Daily with Lance Ippolito, we take a look at cybersecurity company NortonLifeLock ahead of its earnings event.

It was another fantastic day of trading even in the face of a morning gap down from the hottest inflation print we’ve seen since 1981!

But the institutional buyers started to come in hot and heavy as tech caught a nice bid, helping markets rally back toward Tuesday’s closing levels.

Loads of tech and growth names were lighting up my scanners, including NortonLifeLock. The beaten-down cybersecurity stock has seen its shares plunge over 20% since mid-March, but the bulls came charging in to buy the dip early Wednesday.

Big money trades loaded up on over 720 contracts of the Aug. 19 $23 calls for around $100,000. 

On top of this being a rare stock to see big option flow, the calls also capture the company’s July  26 earnings event.

Of course that’s not the only name seeing unusual activity Wednesday…

    • NVIDIA Corp. (Nasdaq: NVDA): July 15, $147 CALL.
    • Tesla Inc. (Nasdaq: TSLA): July 15, $720 CALL.
    • NortonLifeLock Inc. (Nasdaq: NLOK): Aug. 19, $23 CALL.

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! 

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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