The Bulls Are Riveted by Materials After Steep Steel Slide

by | Sep 19, 2022 | Options

In Monday’s Blitz Daily with Lance Ippolito, we take a look at materials name U.S. Steel as bullish traders buy the dip.

Shares of U.S. Steel are on the rise Monday, gaining as much as 3% after being on the receiving end of a brutal 20% beatdown this past week.

Top American steelmakers Nucor and U.S. Steel lowered their third-quarter guidance Thursday, citing myriad issues including supply chain disruptions, lower steel prices, higher raw material costs and weaker-than-expected demand.

With shares at eight-week lows, bullish institutional traders are hoping for a short-term bounce…

My scanners spotted one call buyer scooping up 2,200 contracts of the Sept. 23 expiration, $21 strike calls for more than $105,000 in premium! 

And I have more outsized orders hitting the tape Monday, including some long-dated options in one of North America’s biggest power providers…

  • U.S. Steel Corp. (NYSE: X): Sept. 23, $21 CALL.
  • NextEra Energy Inc. (NYSE: NEE): March 17, 2023, $95 CALL. 
  • Dow Inc. (NYSE: DOW): Oct. 21, $44 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. I’m about to expose my favorite trading tool I’ve ever come across… 

A tool that can be used by traders and investors of all skill levels…  

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And it has nothing to do with stock scanners, order flow, technicals, tech stocks, crypto or anything like that. 

In fact, it all boils down to a single indicator… 

And what this indicator is showing me is alarming…

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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

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