Lyft Shares, Options Explode on GM Buyout Rumors

by | Sep 8, 2022 | Options

In Thursday’s Blitz Daily with Lance Ippolito, we take a look at transportation tech firm Lyft after shares pop on M&A rumors.

There’s nothing like a little buyout gossip to stoke the fires of bullish institutional buying… 

Our good friend Lyft has seen repeat call buying on talk the rideshare platform is being sized up by Detroit automaker General Motors Co. (NYSE: GM) for a potential acquisition. 

The news helped send shares skyward over 14% on the day as traders charged in to grab shares and call options. 

My scanners spotted a flurry of activity as institutional traders took aim at the Sept. 9 expiration, $14.50 strike calls as they exploded in value from $0.23 at the open to a high of $2.43!  

More than 20,000 contracts were exchanged Thursday, including one buyer sweeping up more than 4,500 contracts for $113,000 in premium! 

And if that trade doesn’t get your motor running, I have more top trades waiting inside… 

  • Snap Inc. (NYSE: SNAP): Nov. 18, $12 CALL.
  • Livent Corp. (NYSE: LTHM): Oct. 21, $32.50 CALL. 
  • Verizon Communications Inc. (NYSE: VZ): Oct. 21, $41.50 CALL.
  • Lyft Inc. (Nasdaq: LYFT): Sept. 9, $14.50 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. I’ll never forget the day…

I was sitting down with a Nasdaq market statistician while he explained the calculations he used to determine bullish and bearish moves.

And what he said blew me away…

I couldn’t stop thinking about it, wanting to put what I learned into use in my OWN trading…

Fast forward four years later and I did it!

See What I Built Here

Blitz Daily With Lance Ippolitto

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

By doing this, we cash in whether the broader market is going up, down or sideways. 

The Blitz Daily with Lance Ippolito is where I go over a handful of options trades that hit my Blitz Tracker each day, Monday through Thursday. I will break down the trade with the sexiest order flow and tell you exactly what I think can happen with that stock by the next day’s opening bell. 

If you want in on these fast-moving options plays, with entry, exit and profit targets sent directly to you via text and email alerts, be sure to sign up for Weekly Blitz 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 — and printing money — on WealthPress.com!

WRITTEN BY<br>Lance Ippolito

WRITTEN BY
Lance Ippolito

What to read next

Have any questions? Contact Our Customer Service Team