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Tech Names Top Traders’ Lists as Nasdaq Rallies 3.4%

by | Oct 17, 2022 | Options

In Monday’s Blitz Daily with Lance Ippolito, we take a look at social media giant Meta Platforms after tech names saw a massive rally.

Once again, the market holds on Monday after a blistering, nasty sell-off to end this past week.

Gains for the Nasdaq topped 3.5% at one point as tech names led the way, with earnings season providing a welcome distraction from recent inflation anxiety.

As a result, we’re seeing a lot of those tech names hit the wire Monday, with Facebook parent Meta getting some notable attention from the bulls.

Shares are up around 6%, even after reports that the company’s Metaverse project isn’t performing as well as CEO Mark Zuckerberg had hoped…

Meta Chart for Oct. 17 (Blitz Daily with Lance Ippolito)

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

Around noon, my scanners spotted big-money investors sweep up about 400 contracts of the Oct. 21 expiration, $135 strike calls for more than $110,000 in premium! 

While Meta doesn’t report earnings until Oct. 26, there are plenty of big tech names reporting before Friday that could move the stock, including Netflix Inc. (Nasdaq: NFLX) and social media competitor Snap Inc. (NYSE: SNAP).

And that’s not the only top tech name hitting Monday’s tape…

  • Knight-Swift Transportation Holdings Inc. (KNX): Nov. 18, $55 CALL. 
  • Meta Platforms Inc. (Nasdaq: META): Oct. 21, $135 CALL.
  • Cano Health Inc. (NYSE: CANO): Oct. 21, $5.00 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. Earnings week has officially started… And if you’ve ever followed along with earnings before, you know that’s where some of the biggest make-or-break market moves occur.

Sadly, most folks completely miss out on getting in front of high-conviction moves… and that’s because we don’t know the news until after the markets close… when it’s way too late…

But by following what insiders and Wall Street whales are doing before the close, I’ve been able to score big, time and time again on these earnings plays…

Just last quarter? I went 24 for 25 — nailing winners over and over… each for double digits or more.**

And right now, I’m opening up my computer to try and replicate this success — all by following what the smart money is doing.

Learn All About It

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. 

**The profits and performance shown are not typical, we make no future earnings claims, and you may lose money. From Feb. 21, 2020,  through Oct. 12. 2022, on live signals, the win rate was 68%, the average return per trade (winners and losers) was 14.8%, the average winner was 78.8% over an eight-day average hold time.

WRITTEN BY<br>Lance Ippolito

Lance Ippolito

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