loader image

Bulls Play the EV Squeeze as Markets Hit 52-Week Lows

by | Sep 27, 2022 | Options

In Tuesday’s Blitz Daily with Lance Ippolito, we take a look at EV-charging name ChargePoint as industry news lifts shares.

Stocks skipped off of Monday’s lows at the open, but the bulls couldn’t hang on and the major indexes flipped red again by lunchtime on the East Coast.

We saw a lot of the high-flying tech and growth names squeeze this morning before markets plunged to new 52-week lows.

Shares of EV-charging station company ChargePoint were up as much as 8.5% after Hertz Inc. (NYSE: HTZ) inked a deal with the electrification arm of BP PLC (NYSE: BP) to provide ports for its burgeoning fleet of electric cars.

The news sparked a stampede of bullish bets in CHPT, with big-money traders scooping up more than 1,350 contracts of the Oct. 7 expiration, $15 strike options for over $167,000 in premium!

Of course, that wasn’t the only outsized bet hitting the scanners Tuesday…

  • ChargePoint Holdings Inc. (NYSE: CHPT): Oct. 7, $15 CALL.
  • Lucid Group Inc. (Nasdaq: LCID): Sept. 30, $15 CALL. 
  • DrafftKings Inc. (Nasdaq: DKNG): Sept. 30, $15.50 CALL.
  • Peloton Interactive Inc. (Nasdaq: PTON): Sept. 30, $9 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’re often asked how traders can participate in our upcoming projects…

The answer has always been the same…

When we have something, you’ll be among the first to know.

And right now, this is me letting you know!

What Senior Strategist Roger Scott uncovered in this new strategy shook him to his core…

And he just went LIVE for the full reveal!

Catch the Session Here for All of the Details

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 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. 

WRITTEN BY<br>Lance Ippolito

Lance Ippolito

What to read next

99 Problems and a “Pivot” is One

99 Problems and a “Pivot” is One

A friend of mine sent me this chart about three months ago. I should probably print it and keep it in my wallet next to a photo of my daughter. Given the sheer number of questions I’ve fielded lately, I’ll probably end up showing this chart more than her picture.

read more
Everything Everywhere, Going Down, All At Once

Everything Everywhere, Going Down, All At Once

When our momentum reading went negative last week, I didn’t know that we’d have the second largest bank failure in U.S. history three days later. All I knew was that it went negative… and that we got out of the way.

read more
Trust But Verify…

Trust But Verify…

I want to talk about our version of “Trust but Verify” in the markets. Qualification is the most important part of the investing process. And this F score value strategy looks to be crushing the current market.

read more

Have any questions? Contact Our Customer Service Team