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Bullish Traders Reveal $3M Earnings Bet on Wells Fargo

by | Oct 12, 2022 | Options

Markets edged higher but were unable to break out Wednesday… 

Traders moved to the sidelines as Wall Street held its breath for another ride on the latest inflation numbers set to drop Thursday morning.

As a result, we didn’t see much order flow… But for once, I’m happy to have the boring banks reporting earnings this week!

Financial titan Wells Fargo is slated for an Oct. 14 premarket release, and at least one deep-pocketed trader out there is excited for it…

At lunchtime, my scanners spotted an institutional call buyer back up the truck and grab about 6,250 contracts of the March 17, 2023, expiration, $40 strike calls for around $3 million in premium!

Of course, that wasn’t the only monster trade hitting the tape Wednesday…

  • Tellurian Inc. (NYSE American: TELL): Jan. 20, 2023, $2.50 CALL. 
  • Wells Fargo & Co. (NYSE: WFC): March 17, 2023, $40 CALL.
  • Micron Technology Inc. (Nasdaq: TM): Oct. 28, $54 CALL. 

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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