Bulls Buy the Dip as Tesla Announces 1M Vehicle Recall

by | Sep 22, 2022 | Options

In Thursday’s Blitz Daily with Lance Ippolito, we take another look at EV icon Tesla as shares slump following its latest recall.

The sell-off continued Thursday after the Federal Reserve released its third straight 75-basis-point interest rate hike. 

Tech names are leading the way down once again as the Nasdaq dropped just under 1% while the S&P 500 shed 0.42%.

EV-maker Tesla is back in our sights, and this time it finds itself among the top tech names taking a beating after the company announced a recall on over 1 million vehicles.

Shares of the automaker dipped as much as 4.3% on the news, and the bulls smelled opportunity as they charged into the options chain…

My scanners spotted institutional buyers grabbing around 1,400 contracts of the Sept. 23 expiration, $295 strike calls for more than $230,000 in premium!

And if you’re looking for more outsized order flow to drive you wild, you’re in luck…

  • Tesla Inc. (Nasdaq: TSLA): Sept. 23, $295 CALL.
  • Blackstone Inc. (NYSE: BX): Sept. 30, $85 PUT. 
  • Advanced Micro Devices Inc. (Nasdaq: AMD): Oct. 28, $72 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. There’s been something on my mind that I’ve been dying to share…

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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

Lance Ippolito

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