loader image

Blitz Daily: Bears Line Up to Ride Floundering Fintech Block Down

by | Jan 27, 2022 | Crypto

In Thursday’s Blitz Daily with Lance Ippolito, we take a look at fintech company Block — formerly known as Square — as Apple aims to enter the digital payments space.

Wednesday saw shares of Block continue its three-month slide, dropping as much as 5.5% on the day. All told, Block has dropped a staggering 60% since late October 2021. 

Back in December, the firm rebranded from Square to Block, announcing it would expand into the cryptocurrency space. The move was in part a response to the Apple Inc. (Nasdaq: AAPL) move into phone-based payments tech.

So with the tech king set to report earnings after the bell Thursday, the bears are jumping into position to make Block’s loss their gain.

And if you’re looking for bullish bets, you’re in luck. I have two more top trades including an intriguing long-term tech bet….

  • Block Inc. (NYSE: SQ): Feb. 4 $100 PUT. 
  • Twitter Inc. (NYSE: TWTR): June 16, 2023, $35 CALL. 
  • Advanced Micro Devices Inc. (Nasdaq: AMD): Feb. 4 $100 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 for the start of 2022, 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

Lance Ippolito

What to read next

99 Problems and a “Pivot” is One

99 Problems and a “Pivot” is One

A friend of mine sent me this chart about three months ago. I should probably print it and keep it in my wallet next to a photo of my daughter. Given the sheer number of questions I’ve fielded lately, I’ll probably end up showing this chart more than her picture.

read more
Everything Everywhere, Going Down, All At Once

Everything Everywhere, Going Down, All At Once

When our momentum reading went negative last week, I didn’t know that we’d have the second largest bank failure in U.S. history three days later. All I knew was that it went negative… and that we got out of the way.

read more
Trust But Verify…

Trust But Verify…

I want to talk about our version of “Trust but Verify” in the markets. Qualification is the most important part of the investing process. And this F score value strategy looks to be crushing the current market.

read more

Have any questions? Contact Our Customer Service Team