Bulls Pounce on Red-Hot Auto Stock for the Third Time in a Week

by | Jun 23, 2022 | Options

In Thursday’s Blitz Daily with Lance Ippolito, we take another look at automaker General Motors after a string of positive headlines.

We saw a huge buy this past week in GM calls that resulted in a fantastic win for Weekly Blitz Alerts and the bulls just can’t get enough.

There was another big call buy on Tuesday… and the bulls are back for another helping Thursday!

Shares of the Detroit icon saw a nice 5% run up to start the week thanks in part to positive news surrounding its  upcoming line of luxury Cadillac EVs along with its driverless taxi service, Cruise, taking its first public fares in San Francisco.

With the stock down 0.5%, bullish institutional buyers pounced on the dip in volatility, snapping up around 2,000 contracts of the Aug. 19 expiration, $36 strike calls for $276,000 in premium!

Of course, that wasn’t the only ticker hitting the scanner. I have four more top trades from Thursday’s tape…

    • Robinhood Markets Inc. (Nasdaq: HOOD): July 8, $8 CALL. 
    • General Motors Co. (NYSE: GM): Aug. 19, $36 CALL.
    • Siga Technologies Inc. (Nasdaq: SIGA): Aug. 19, $15 CALL.
    • Bank of America Corp. (NYSE: BAC): Aug. 19, $32 PUT.
    • Citigroup Inc. (NYSE: C): July 15, $45 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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