Bulls Run Wild on Amazon Options as Stock Split Slashes Share Price

by | Jun 6, 2022 | Options

 

In Monday’s Blitz Daily with Lance Ippolito, we take a look at online retailer Amazon following its 20-for-1 stock split. 

The split, approved on May 25, brought its price from $2,440 a share at the end of last week down to just $125 by Monday morning’s opening bell. 

Existing shareholders received 19 additional shares for every one they owned prior to the split.

Joy of the Trade’s Jeff Zananiri covered whether he thinks Amazon is a buy following the split, so be sure and check that out!

The split makes shares more affordable for retail investors, placing it in range of companies such as Disney and Netflix, which are currently trading around $108 and $198 a share, respectively, at the time of this writing. 

And retail investors aren’t the only ones using this as an opportunity to jump in because the lower share price also makes the options much, much cheaper… 

The bulls are placing large bets on the share price heading higher in a hurry, with one dropping $264,000 in premium on over 800 contracts of the June 17 expiration, $130 strike calls. 

But Amazon isn’t the only name hitting the tape today…  

    • Amazon.com Inc. (Nasdaq: AMZN): June 17, $130 CALL. 
    • Quantumscape Corp. (NYSE: QS): June 10, $13 CALL.
    • Robinhood Markets Inc. (Nasdaq: HOOD): June 17, $10 CALL.
    • Kellogg Co. (NYSE: K): June 17, $72.50 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 wires like these over the weekend, check out my Wiretap Alerts strategy!

P.S. A story has been unfolding behind the scenes… One unlikely stock is set for a potential buyout.

If the rumors are true — traders need to be aware!

Luckily, I’ve been following the story along with the bevy of options activity in this stock leading up to this news…

And I want to share all the details with you — including specific option calls to play this coming news!

Get the Names.

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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