Short Squeeze Rally Prompts Massive GameStop Buy

by | May 25, 2022 | Options

In Wednesday’s Blitz Daily with Lance Ippolito, we take a look at retailer GameStop after a surge in trading volume.

Wednesday has been a junk stock rally and the king of the memestonks is leading the way. 

Shares jumped as high as 29.5% from Tuesday’s closing price as trading volumes nearly doubled its 30-day average.

We spotted one trader swinging for the fences, scooping up around 500 contracts of the June 17 expiration, $115 strike calls for about $800,000 in premium!

Of course, that’s not the only stock hitting the tape Wednesday…

    • Tesla Inc. (Nasdaq: TSLA): June 3, $750 CALL. 
    • Snap Inc. (NYSE: SNAP): May 27, $13 CALL. 
    • GameStop Corp. (NYSE: GME): June 17, $115 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 soon as I see them, check out my Weekly Blitz 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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