In Monday’s Blitz Daily with Lance Ippolito, we take a look at beaten down electric vehicle name Rivian after a major sell-off.
The blood continues to flow on Wall Street Monday as the indexes see more selling to open this week’s trading.
The tech-heavy Nasdaq led the way down with a 4% drop and traders peppered the tape with sizable downside bets.
One notable name among Monday’s biggest losers was EV-maker Rivian after Ford Motor Co. (NYSE: F) announced it would sell 8 million shares of its stake in the company.
Shares plummeted more than 20% in response to the news, sending premiums through the roof.
During this past week’s WealthPress Live Roundtable, I mentioned Rivian weekly $30 puts anywhere from around 2 to $3… And those puts traded over $7.50* today!
Be sure and tune in at 11:30 a.m. EDT every Wednesday for a half hour as we talk markets… and dish out trade ideas like this!
Institutional traders came back for more on Monday, snapping up around 550 contracts of the May 13 expiration, $24 strike puts for about $143,000 in premium!
And if that doesn’t get you charged up, I have two more top trades waiting below…
- Rivian Automotive Inc. (Nasdaq: RIVN): May 13, $24 PUT.
- Roblox Corp. (NYSE: RBLX): May 13, $30.50 CALL.
- Marathon Oil Corp. (NYSE: MRO): May 13, $24.50 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. We’ve all been there before… You buy the dip in your favorite stock…
But then that dip turns into a correction, and then that correction turns into a crash.
Before you know it, two to three months of gains are wiped out in two or three days.
This is what we call blowing up an account… And we see new traders make this mistake all the time.
The key here is to protect yourself by using a built-in hedge…
The hedge allows you to take full advantage of the potential upside, but when the market crash finally does come… you’re more protected.
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!
*Stated results are atypical for given period. Past performance is not indicative of any future results. Trade at your own risk.