Blitz Daily: How the Bears Are Looking to Cash in on Memory Chip Glut

by | Aug 12, 2021 | Uncategorized

In Thursday’s Blitz Daily, we’ll take a look at semiconductor company Micron Technology after a Thursday stock downgrade sent shares plummeting.

Chipmaker Micron Technology Inc. (Nasdaq: MU) shares took a turn for the worse on the heels of the downgrade from financial services firm Morgan Stanley. Analysts also dropped Micron’s price target from $105 to $75.

Micron shares tumbled more than 8% on the news and had the bears on Wall Street frothing at the mouth. In the options chain, traders took big bets to the downside through August and September. In particular, nearly 8,000 contracts traded in the Aug. 20 $68 strike put.

And there’s more where that came from. I have two more must-see options plays including a $4.6 million bet in a familiar gaming name that we took aim at this morning in my Daily Profits War Room

  • Micron Technology Inc. (Nasdaq: MU): Aug. 20 $69 PUT.

  • International Game Technology PLC (NYSE: IGT): Sep. 17 $22 CALL.

  • Activision Blizzard, Inc. (Nasdaq: ATVI): Jan. 21, 2022 $90 CALL.

Check out my short video and I’ll break down Micron 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, 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!

WRITTEN BY<br>Lance Ippolito

WRITTEN BY
Lance Ippolito

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