Greetings from sunny Las Vegas! I’m currently traveling, so while I won’t have a video for you today, there’s still plenty of unusual options flow in the market for us to dissect…
In Wednesday’s Blitz Daily, we take a look at Silicon Valley powerhouse Qualcomm as the company reported earnings after the close.
Qualcomm manufactures chips for cell phones, cars and countless other internet-connected devices. And despite supply chain shortages, it forecast better-than-expected profits and revenue to come.
And it seems traders are betting on the company to deliver…
Qualcomm is currently trading around $138.50 per share, and earlier on Wednesday we saw traders scoop up over $100,000 worth of contracts on both the Nov. 5 $140 strike call, and the Nov. 12 $143 strike call.
As the saying goes, a rising tide lifts all boats… And Qualcomm isn’t the only chip manufacturer seeing a lot of institutional order flow today! We’ve got two other tech stocks, and a few other companies on our radar…
- Qualcomm Inc. (Nasdaq: QCOM): Nov. 5 $140 CALL; Nov. 12 $143 CALL.
- Advanced Micro Devices Inc. (Nasdaq: AMD): Nov. 5 $129 CALL.
- The Kroger Co. (NYSE: KR): Dec. 17 $47 CALL.
- Macy’s Inc. (NYSE: M): Dec. 17 $42 CALL.
- Micron Technology Inc. (Nasdaq: MU): Nov. 5 $73 PUT.
- Merck & Co. Inc. (NYSE: MRK): Dec. 17 $87.50 PUT.
And for more guidance through the biotech sector as it continues to heat up ahead of the new year, check out my Blockbuster Breakout Calendar strategy to learn how to hit these big biotech catalyst events like a pro!
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 Tracker, 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 Tracker 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!