In Tuesday’s Blitz Daily, we’ll take a look at online gaming company Skillz as bullish meme stock investors again put pressure on short sellers.
Just when the bears and the media thought the ape army had left Skillz Inc. (NYSE: SKLZ) for dead in the Meme Stonk Wars of 2021, the bulls came back Tuesday afternoon to squeeze the stock and bleed the hedgies.
While other highly shorted meme stocks like AMC Entertainment Holdings Inc. (NYSE: AMC) and GameStop Corp. (NYSE: GME) largely maintained or grew their new valuations in 2021, SKLZ was not as fortunate. Share prices for the esports company declined steadily from its record highs in the February squeeze. But retail investors and their short-busting institutional allies are hoping that might change, starting Tuesday.
The bulls hit the options in a big way late Tuesday, helping shares rally more than 13% on the day. More specifically, buyers hammered on the September monthly $12 strike calls, with over 17,400 contracts traded.
The bulls may not win this war, but there’s no denying they can take a battle here and there. The stock has seen several short-lived rallies, so be nimble and trade small if you decide to take a side.
And as fun as the meme trading shenanigans are to discuss, I have two more names seeing massive order flow that traders need to put their eyes on — including one of the strongest charts I’ve seen this year so far…
Today’s Top Orders:
Skillz Inc. (NYSE: SKLZ): Sept. 17 $12 CALL.
Dollar Tree Inc. (Nasdaq: DLTR): Oct. 15 $95 CALL.
Marathon Digital Holdings Inc. (MARA): Oct. 15 $41 CALL.
Check out my short video and I’ll break down today’s most unusual options order flow in no time flat…
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 Challenge 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!