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Scanners Spot Series of Degenerate Dip Buys as Markets Plunge

by | Sep 13, 2022 | Options

In Monday’s Blitz Daily with Lance Ippolito, we take another look at healthcare company GSK as share prices cratered Tuesday.

The VIX was slow to take off Tuesday morning despite the market crashing from the latest inflation data…  

It was enough to make you wonder if the put buyers were scared at all, because Tuesday’s order flow didn’t look like it… 

And that makes me think this could be a good time to start scaling in if you’re bullish. 

We’re seeing traders use Tuesday’s sour mood as an opportunity to leverage the pullback in GSK, formerly known as GlaxoSmithKline. 

Shares of the U.K.-based drugmaker experienced a sharp decline since the spin-off of its consumer health care business in mid-July, dropping 31% between July 19 and Sept. 9… 

And the health care name is getting hit again Tuesday with the broader market downturn, killing the positive momentum the company generated from this past week’s positive Phase III results of its latest cancer treatment. 

My scanners spotted bullish buyers snapping up about 1,000 contracts of the Nov. 18 expiration, $33 strike calls for around $110,000 in premium! 

Of course, that’s not the only name seeing notable options flow on Tuesday’s tape…. 

  • Pinterest Inc. (NYSE: PINS): Sept. 16, $25 CALL.
  • PubMatic Inc. (Nasdaq: PUBM): Oct. 21, $20 CALL.
  • GSK PLC (NYSE: GSK): Nov. 18, $33 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. We thought we’d seen just about everything inside the financial markets…

But this is on a whole new level!

In the past few years, these tiny arrows have made some incredible calls in the stock market…

And now, they’re causing a big stir!

See How It Works

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

Lance Ippolito

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