In Thursday’s Blitz Daily with Lance Ippolito, we take a look at online retail giant Shopify as shares struggle from its recent stock split.
We had a super busy Thursday with the bulls fighting for control after a BIG gap down at the open… and the tape has been printing nonstop!
One name that can’t seem to stay off of my scanners is e-commerce powerhouse Shopify.
The e-commerce powerhouse saw its shares plummet more than 15% from its June 24, $38.52 closing price in the run up to Wednesday’s 10:1 stock split… And things aren’t slowing down Thursday with shares falling another 3%.
Both SHOP and Amazon — which completed its stock split on June 6 — were popular targets for bearish traders Thursday with one trader grabbing around 700 contracts of the SHOP July 15 expiration, $32 strike puts for over $160,000 in premium!
Of course that’s just a taste of the unusual activity burning up Thursday’s tape…
- Shopify Inc. (NYSE: SHOP): July 15, $32 PUT.
- Amazon.com Inc. (Nasdaq: AMZN): July 1, $106 PUT.
- iShares Russell 2000 ETF (NYSEArca: IWM): Oct.21, $144 PUT.
- General Mills Inc. (NYSE: GIS): Aug. 19, $70 PUT.
- Advanced Micro Devices Inc. (Nasdaq: AMD): July 8, $77 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 “Shadow Blitzes” like these as they hit the scanner, check out my Weekly Blitz Alerts strategy!
P.S. The Long weekend is about to “take effect…”
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!