Peloton Shorts Run for Cover as Options Explode — Again

by | Feb 8, 2022 | Crypto

In Tuesday’s Blitz Daily with Lance Ippolito, we take another look at fitness tech stock Peloton as shares continue their run higher on buyout rumors.

Traders might have thought the rocket ship ride for Peloton was over, but Tuesday’s session — on the heels of 2,800 jobs cut and poor earnings — showed there was still plenty of fuel left in the tank..

It’s no secret that Peloton had been on a nasty slide — losing nearly 85% of its share price from a year ago — and became a short-selling magnet.

And there’s nothing like a single-day 30% jump in share prices to force all of those shorts to cover!

After Monday’s monster 31% move on buyout rumors, shares continued to spike Tuesday for back-to-back 30% rips at one point!

The options chain was insane with puts and calls hitting the tracker all day, with one big swinger sweeping up 38,000 contracts of the Feb. 11 $40 strike calls for over $316,000 in premium!

Of course, that wasn’t the only name seeing big options buying. I have two more trades tearing up Tuesday’s tape below…

  • AES Corp. (NYSE: AES: Jan. 20, 2023, $27 CALL.
  • Beyond Meat Inc. (Nasdaq: BYND): Feb. 11 $61 CALL.
  • Peloton Interactive Inc. (Nasdaq: PTON): Feb.11 $40 CALL.

Check out my short video and I’ll break down the day’s most unusual options order flow in no time flat!

For more guidance through the stock markets and big-money trades like these through earnings season, check out my Weekly Blitz Alerts strategy!

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 I think can happen with that stock by the next day’s opening bell.

If you want in on these fast-moving 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!

WRITTEN BY<br>Lance Ippolito

WRITTEN BY
Lance Ippolito

What to read next

Have any questions? Contact Our Customer Service Team