In Wednesday’s Blitz Daily, we’ll take a look at online gambling company DraftKings after reports of an investigation into its recent acquisition.
The bears were out in full force in the DraftKings Inc. (Nasdaq: DKNG) options chain on Wednesday. Several news outlets are reporting Golden Nugget Online Gaming Inc. (Nasdaq: GNOG) may have breached its fiduciary obligations in the $1.5 billion buyout.
That was enough blood in the water to attract a wave of bearish activity after the stock climbed more than 10.5% in the week leading up to the announcement. In particular, traders jumped on the October monthly $50 strike puts, trading nearly 6,500 contracts in the Wednesday session.
And while the bears were picking over DraftKings, the bulls were having a field day with retail stocks. See for yourself…
DraftKings Inc. (DKNG): Oct. 15 $50 PUT.
Walmart Inc. (NYSE: WMT): Aug. 13 $152.50 CALL.
The Home Depot Inc. (NYSE: HD): Aug. 13 $340 CALL.
Virgin Galactic Holdings Inc. (NYSE: SPCE): Aug. 20 $27 PUT.
Check out my short video and I’ll break down DraftKings order flow, along with all of today’s options plays in a flash…
And if you want to get in on these orders as they hit my Blitz Tracker in real time — and even more actionable trade ideas — be sure to join us in our Daily Profits War Room!
Blitz Daily With Lance Ippolitto
At Weekly Blitz Alerts, we like to print money, baby! I know, I know, you’re probably thinking, “Lance, how do we do that? Print money? Come on…”
But in all seriousness, 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 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 Scanner each day, Monday through Thursday. I will break down the trade with the sexiest order flow and tell you exactly what’s going to happen with that stock by the next day’s opening bell.
If you want in on these explosive 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!