Bullish Options Buyers Take GM for a Ride as Stocks Plummet

by | May 5, 2022 | Options

It’s a complete bloodbath in the markets Thursday. We’ve given back all of the gains from Wednesday’s rally… and then some.

I’ve been saying for some time now that traders need to take gains aggressively, and this week was a perfect example why.

It’s no surprise to see a lot of put hedging hitting the tape when the markets puke. But when everyone is selling, it makes the big institutional buys that much more intriguing.

One of the big names that saw unusual bullish activity Thursday is General Motors. The stock has seen its share price slide 35% since the start of the year, and the bulls are buying the blood Thursday.

Just after 10 a.m. EDT, the Blitz Tracker spotted institutional buyers sweeping up around 1,000 contracts of the May 20 expiration, $38 strike calls for about $295,000 in premium!

And if that doesn’t get your motor running, I have three more unusual trades waiting inside…

    • General Motors Co. (NYSE: GM): May 20, $38 CALL. 
    • AbbVie Inc. (NYSE: ABBV): May 6, $157 CALL.
    • Cameco Corp. (NYSE: CCJ): May 20, $24 CALL. 
    • Lyft Inc. (Nasdaq: LYFT): May 6, $22 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 Shadow Blitzes like these as soon as I see them, check out my Weekly Blitz Alerts strategy!

P.S. It’s a bloodbath out in the markets… 

With many traders’ accounts going red, day after day… 

No one knows what to do… But this former $700 million hedge fund manager is warning investors: 

It’s only going to get worse!

Here’s How He’s Preparing for the Multiple Crashes Ahead

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

What to read next

Have any questions? Contact Our Customer Service Team