In Wednesday’s Blitz Daily with Lance Ippolito, we take a look at fintech company Affirm Holdings Inc. (Nasdaq: AFRM) ahead of its May 12 earnings event.
Order flow slowed down Wednesday as the stock market continued to puke in the face of nasty economic headwinds.
The selling wreaked havoc on tech companies like payment platform Affirm after fellow fintech Upstart Holdings Inc. (Nasdaq: UPST) missed earnings expectations on Monday and substantially lowered its full-year guidance.
The news spurred a sell-off of financial-related tech names, with Affirm shedding more than 40% of its value from its May 6 closing price — ouch!
So Wednesday saw institutional traders bracing for more downside pressure with a series of bearish bets as the company gets ready to report Q1 earnings…
The Blitz Tracker spotted one deep-pocketed buyer grabbing around 3,700 contracts of the May 20 expiration, $12 strike puts for more than $350,000!
Of course that’s not the only outsized bet hitting the tap Wednesday, I have three more top trades waiting right inside…
- Occidental Petroleum Corp. (NYSE: OXY): May 13, $60 CALL.
- The Boeing Co. (NYSE: BA): May 13, $135 CALL.
- Petco Health and Wellness Co. Inc. (Nasdaq: WOOF): June. 17, $14 PUT.
- Affirm Holdings Inc. (Nasdaq: AFRM): Nov 18, $10 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. I’m teaching one of my favorite strategies at 1 p.m. EDT this Thursday, May 12…
I’ve used it for more than a decade.
And I’m confident that anyone can pick it up and start implementing it right away.
It doesn’t require any complicated software…
Or chart pattern memorizations…
Inside the training, I’ll give you the criteria for setting up a rock-solid trade idea…
I will also walk you through the process step by step, and even explore a few trade ideas in real time!
So don’t miss my Insider Secrets Training Course at 1 p.m. EDT on Thursday, May 12.
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!
*This is for informational and educational purposes only. There is inherent risk in trading, so trade at your own risk.