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Blitz Daily: Square’s Acquisition Sends Wall Street Bulls Charging

by | Aug 2, 2021 | Uncategorized

In Monday’s Blitz Daily with Lance Ippolito, we’ll take a look at digital payments company Square after it capped off a solid earnings report with a strategic acquisition. 

Square Inc. (NYSE: SQ) shares were met with strong buying at the opening bell Monday after beating earnings estimates over the weekend. But what really has Wall Street buzzing is the announcement of its agreement to buy Australian fintech company Afterpay. 

Square believes the purchase will appeal to younger cash-strapped buyers with its interest free installment loans. Wall Street is in agreement with buyers, helping to catapult shares to new 52-week highs, up more than 13.5% from Friday’s close. 

Likewise the options are seeing big — and I mean BIG — call buying. In particular, the Aug. 6 $285 strike calls traded over 11,000 contracts on the day.

And that’s not the only chain seeing a massive spike in volume, I have two more options plays traders need to know about. See for yourself…

  • Square Inc. (NYSE: SQ): Aug. 6 $285 CALL.

  • Callaway Golf Company (NYSE: ELY): Aug. 20 $33-$37 BULL CALL SPREAD.

  • News Corp. (Nasdaq: NWSA): Aug. 20 $25 CALL.

Check out my short video and I’ll break down Square’s options order flow, along with all of today’s earnings plays in no time at all… 

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 one options trade that hits 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!  

Our Blitz Alerts strategy also includes my Daily Market Color, where traders can get a ton of trade ideas every day. This is a veritable gold mine of potential trades you can make… simply by following the money trail I lay out for you. 

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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