Blitz Daily: Dip Buyers Bet $1M on Sinking Apparel Stocks

by | Jan 10, 2022 | Crypto

In Monday’s Blitz Daily, we take a look at shoemaker Skechers as apparel names across the industry sell off on a string of negative headlines.

January is historically a rough month for retail as sales fall off after the holiday shopping season.

So when bearish news hits in the gap between Christmas and earnings season, it can sink stocks in a hurry. And Monday, they were hit with a double whammy.

First, HSBC hit retail giant Nike Inc. (NYSE: NKE) with a stock downgrade, citing weakening sales in China. If that weren’t enough, powerhouse women’s athleticwear firm Lululemon Athletica Inc. (Nasdaq: LULU) announced it expects earnings near the low end of its guidance after the omicron variant outbreak hurt operations in Q4 2021.

That one-two punch had apparel stocks on the ropes with blood in the street’s during Monday’s session, including footwear name Skechers…

But where there’s blood, there’s blood-buying… and the bulls aren’t pulling their punches!

Traders took a big swing at the SKX Feb. 18 $45 strike calls for nearly $1 million in premium!

And that wasn’t the only tape bomb hitting the scanners Monday… 

    • Under Armour Inc. (NYSE: UA): Jan. 21 $17 CALL. 
    • Advanced Micro Devices Inc. (Nasdaq: AMD): Jan. 14 $130 CALL. 
    • Skechers USA Inc. (NYSE: SKX): Feb. 18 $45 CALL.  

Check out my short video and I’ll break down the day’s most unusual options order flow in two minutes flat!  

 

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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

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