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Degenerate Bulls Look for a Coinbase Bounce Amid Crypto Crash

by | Nov 17, 2022 | Options

We’re officially one week from Turkey Day… But if we’re judging by the order flow, it looks like the vacation has already begun for the big-money traders…

Markets continued digesting last week’s major move higher as institutional trading volume slowed to a crawl ahead of the holiday.  

And with the big money mostly sitting on the sidelines, we’re seeing a lot of junk stocks roll across the wire…

Crypto exchange Coinbase saw its stock drop around 1% Thursday as the sector continues to navigate its way through the liquidity crisis surrounding rival exchange FTX — the biggest fraud in history.

With shares closing in on 52-week lows, the crypto bust has thrill-seeking bulls looking for a quick bounce.

Coin Chart (Biltz Daily With Lance Ippolito)

Wondering what those little arrows mean and how they can help improve your trading? Get the details here!

My scanners spotted deep-pocketed degenerates sweeping up over 800 contracts of the Nov. 18 expiration, $45 strike calls for more than $240,000 in premium!

Now the way I see it, if the market isn’t trending in one direction or another, sometimes the best thing we can do is walk away — especially with short-term, directional options…

But if you must trade this choppy mess, here’s a look at the top order flow hitting the tape… 

  • Coinbase Inc. (Nasdaq: COIN): Nov. 18, $45 CALL.
  • JD.com Inc. (Nasdaq: JD): Nov. 18, $54 CALL.
  • Netflix Inc. (Nasdaq: NFLX): Nov. 18, $297.50 CALL.

Check out my short video as I break down the day’s most unusual options order flow in no time flat! 

P.S. We thought we’d seen just about everything inside the financial markets… 

But this is on a whole new level! 

In the past few years, these tiny arrows have made some incredible calls in the stock market… 

And now, they’re causing a big stir! 

See How It Works

Blitz Daily With Lance Ippolito

At Weekly Blitz Alerts, we follow the big fish and what they’re buying. And we do that with my proprietary Blitz Scanner, which alerts me to big, institutional order flow through the day. Then we get in on these plays and follow the “smart money.” 

The Blitz Daily with Lance Ippolito is where I go over a few options trades that hit the Blitz Scanner each day, Monday through Thursday. I break down the trades with the sexiest order flow and tell you what could happen with those stocks by the next day’s opening bell.*

If you want in on these explosive options plays, be sure to sign up for Weekly Blitz Alerts! We send entry, profit targets and exits directly to you via text and email 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 on WealthPress.com!

*This is for informational and educational purposes only. There is inherent risk in trading, so trade at your own risk. 

WRITTEN BY<br>Lance Ippolito

Lance Ippolito

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