Markets rebounded Wednesday after the S&P 500 gapped down 1% at open…
Several names around the automotive industry are taking some of the heaviest losses after Morgan Stanley lowered its price target on General Motors Co. (NYSE: GM) while Tesla CEO Elon Musk flip-flopped on his proposedTwitter Inc. (NYSE: TWTR) buyout.
The ugly mood added to the woes of EV-maker Arcimoto, which cut around 40% of its employees a week ago.
Shares of the penny stock dropped more than 12% Wednesday, and bearish traders roared throughout the options chain!
Less than an hour into the open, my scanners spotted big-money bears sinking their teeth into about 5,000 contracts of the April 21, 2023, expiration, $1 strike calls for more than $175,000 in premium!
And that’s not the only EV stock the big institutions expect to take a plunge…
- Arcimoto Inc. (Nasdaq: FUV): April 21, 2023, $1 PUT.
- Bank of America Corp. (NYSE: BAC): Oct. 21, $32 CALL.
- Tesla Inc. (Nasdaq: TSLA): Oct. 7 $240 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. Think the Bottom Is In? See This First…
With 2022 being such a tough year already, the LAST thing we want to do is add more rain to your parade…
But this is unavoidable.
You see, just the other day, when Federal Reserve Chair Jerome Powell committed to hiking interest rates again, and again… Something scary happened in the housing market.
Mortgage rates jumped to new highs — numbers even higher than before the Great Recession.
- 30-year fixed: 7.479%.
- 30-year fixed FHA: 6.917%.
- 30-year fixed VA: 7.352%.
Now, for those who own a home, you might wonder what this has to do with you…
The answer is everything… Your retirement plans… Your nest egg… Your kids’ and grandkids’ futures…
Joy of the Trade’s Jeff Zananiri believes it could change the landscape of America forever.
Which is why he just revealed everything behind this opportunity in a special emergency briefing.
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.