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Bulls Aim for Earnings Bounce in Beaten-Down Bank Stock

by | Oct 6, 2022 | Options

In Thursday’s Blitz Daily with Lance Ippolito, we take a look at financial stock U.S. Bancorp as the company prepares for its upcoming earnings event.

We’re seeing more volatility Thursday as markets weren’t sure how to act to the latest jobs report.

With inflation fears blowing stocks around, Wall Street sees the higher-than-expected employment figures as a reason for the Federal Reserve to give markets a breather from its aggressive interest hikes…

But whether it goes up, down or sideways,  it doesn’t matter — we’ll still follow that institutional order flow!

Trading was light around the open, but we did see some bullish bets in beaten-down financial names in the run-up to earnings season…

Shares of U.S. Bancorp calls are slumping again after skipping off of 52-week lows, and the bulls are bottom fishing ahead of USB’s Oct. 14 earnings date.

My scanners spotted big-money traders reeling in over 900 contracts in the Oct. 21 expiration, $41 strike calls for more than $160,000 in premium!

Of course, that’s not the only name hitting Thursday’s tape…

  • U.S. Bancorp (NYSE: USB): Oct 21, $41 CALL. 
  • Western Digital Corp. (Nasdaq: WDC): Oct. 21, $34 PUT.
  • American Axle & Manufacturing Holdings Inc. (NYSE: AXL): Oct. 21 $7 PUT. 

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

P.S. There’s something on my mind that I’ve been dying to share…

Something that can be used by traders and investors of all skill levels. 

It doesn’t matter if you’re a day trader, options trader, swing trader, a casual investor or if you’re just getting started in the stock market.

It spits out buy and sell signals based on the real reasons stocks move up and down…

And I think it could influence your trading month in a BIG way. 

See Which Stocks Could Make Another Move Lower…

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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