loader image

Chinese COVID-19 Cases Climb, Bears Prepare for Impact

by | Nov 23, 2022 | Options

In Wednesday’s Blitz Daily with Lance Ippolito, we take a look at internet retailer Pinduoduo ahead of its upcoming earnings event. 

Markets edged higher Wednesday as Wall Street prepared for the release of the minutes from the most recent Federal Reserve meeting.

The S&P 500 wobbled above 4,000 for the second straight session as it approached new 10-week highs.

Keeping with the theme of the week, we didn’t see much order flow, with institutional traders stepping away from their desks for the long holiday…

And when the cats are away, the retail apes will play, polluting the tape with a wave of small bets on Tesla Inc. (Nasdaq: TSLA) and junk names like Pinduoduo Inc. – ADR (Nasdaq: PDD).

Shares of the Chinese e-commerce platform are treading water ahead of its Nov. 28 earnings event despite the severity of the latest COVID-19 lockdowns, but one degenerate is preparing for the worst…

Around 1:30 p.m. ET, my scanners picked up a sizable downside bet as one trader swept up over 1,400 of the Dec. 2 expiration, $61 strike puts for more than $275,000 in premium!

Of course, that wasn’t the only name rolling across the wire Wednesday…

  • Pinduoduo Inc. – ADR (Nasdaq: PDD): Dec. 2, $61 PUT.
  • Warner Bros. Discovery Inc. (Nasdaq: WBD): Dec. 2, $10 CALL.
  • Kroger Co. (NYSE: KR): Dec. 9, $47 PUT.

Have a Happy Thanksgiving! Get away from the computer, eat some carbs, watch some football and I’ll be back on Monday with more unusual order flow!

P.S. Trading has been harder than ever for most people this year… 

But what if you were able to take advantage of ONE market trend that’s been proven, time and time again?

One that’s never failed to unfold, even during the Great Depression, World War II, 1987’s Black Monday and the dot-com crash, to name a few… 

We’re talking about one trend a very unlikely trader stumbled upon around 560 days ago… And once she shared this trend with Senior Strategist Roger Scott, he was SHOCKED!

He couldn’t believe he’d never seen this in his 28 years of trading… And now she’s ready to reveal the details

Find Out All About It

Blitz Daily With Lance Ippolitto

At Weekly Blitz Alerts, 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 order flow through the day. Then we get in on these plays and follow the “smart money.” 

The Blitz Daily with Lance Ippolito is where I go over a few options trades that hit the Blitz Scanner each day, Monday through Thursday. I break down the trades with the sexiest order flow and tell you what could happen with those stocks by the next day’s opening bell.*

If you want in on these explosive options plays, be sure to sign up for Weekly Blitz Alerts! We send entry, profit targets and exits directly to you via text and email 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 on WealthPress.com!

*This is for informational and educational purposes only. There is inherent risk in trading, so trade at your own risk. 

WRITTEN BY<br>Lance Ippolito

WRITTEN BY
Lance Ippolito

What to read next

Have any questions? Contact Our Customer Service Team