In Wednesday’s Blitz Daily, we’ll take a look at cosmetics company Coty after the firm announced a new secondary stock offering.
Shares of beauty supply behemoth Coty Inc. (NYSE: COTY) fell more than 12.5% in trading Wednesday on news the company issued a secondary offering of 50 million shares. This isn’t an offering of new shares, but rather an opportunity for private equity firm KKR to unwind its massive position. Moreover, KKR decided to do it at $8.53 per share — around 10% lower than Tuesday’s closing price.
This slide resulted in the stock giving back all of the gains generated from its stellar earnings report on Aug. 26. But rather than run away screaming, bullish traders smelled opportunity.
Institutional buyers swept up call options hand over fist. Specifically, the big boys picked up more than 9,000 contracts in the Nov. 19 expiration $9 strike calls for a combined premium of over $650,000!
And I have three more “foundational” trades that hit the tape today! Just see for yourself…
Range Resources Corp. (NYSE: RRC): Jan 21, 2022 $17 CALL.
Intel Corp. (Nasdaq: INTC): Mar. 18, 2022 $60 CALL.
STMicroelectronics N.V. (Nasdaq: STM): Sept. 17 $45 PUT.
Coty Inc. (NYSE: COTY): Nov. 19 $9 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!