Bulls Go Long on Nordstrom as Headwinds Hinder Competition

by | Jun 9, 2022 | Options

In Thursday’s Blitz Daily with Lance Ippolito, we take a look at top department store chain Nordstrom as the stock continues its post-earnings climb.

Several brick-and-mortar retailers took a hit earlier this week when Target Corp. (NYSE: TGT) lowered its second-quarter guidance less than a month after its May 18 earnings report…

But as we discussed in our most recent WealthPress Live Roundtable, you can’t judge the whole sector by one company’s performance…

Just look at the run Nordstrom has been on since beating analysts’ earnings expectations on May 24…

Shares added more than 6% to an already impressive 39% gain over three weeks!

Thursday saw bullish options traders line up for more long-term upside, grabbing more than 1,100 contracts of the Oct. 21 expiration, $32.50 strike calls for over $230,000 in premium!

Of course, that’s not the only sharp-looking order flow hitting Thursday’s tape…

  • Nordstrom Inc. (NYSE: JWN): Aug. 19, $19 CALL; Aug. 19, $23 CALL. 
  • Veru Inc. (Nasdaq: VERU): June 17, $15 PUT.
  • American Airlines Group Inc. (Nasdaq: AAL): Nov. 18, $15 PUT.

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!

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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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