It’s no secret that I’m not a fan of low-volume markets.
But there’s one silver lining from that low-energy environment… When big trades hit the Blitz Tracker, they really stand out!
And that’s exactly what happened Tuesday when traders came after Dropbox en masse.
I knew we couldn’t let that opportunity slip through the cracks…
And it goes to show that Weekly Blitz Alerts can find solid gains even when the market is downright lousy!
Wall Street Bulls Swoop in To Pick Up Dropbox
November hasn’t been kind to Dropbox. Shares have dropped more than 20% since Nov. 4 in spite of its solid earnings report.
Things went from bad to worse when CEO Andrew Houston decided to sell $27 million worth of shares a week ago.
On Tuesday, the bulls decided the stock had hit oversold territory and swooped in to buy more than 1,000 contracts of the Dec. 17 $26 strike calls, followed by 1,534 of the Dec. 3 weekly calls.
This is extremely aggressive flow as traders looked to take advantage of a short-term bounce in the stock ahead of its investor day event on Dec. 2.
I put out the alert to Weekly Blitz Alerts members to take a position in the Dec. 17 $26 strike calls at $0.45 per contract.
The buying continued through the end of Tuesday’s trading, causing a nice 1.6% pop in the stock that pushed our options to $0.65 per contract, where we took profits on the first half for a 44% gain in just a few hours!
That move caught the attention of the talking heads in the mainstream media, getting featured on CNBC’s “Fast Money” segment late Tuesday. The TV spot set off a volume spike after hours that carried over into Wednesday’s open, where we closed our final leg for a 77% overnight gain — BANG!
I can’t lie, it was pretty cool to see the suits talk about the trade on TV — especially when we already hit the profit target!
Take a look at the quick video and I’ll break down this fantastic move!
P.S. My Sweet Spot Stocks picks have allowed members to get in front of some incredible under-the-radar growth stocks before they exploded…
Like DraftKings… which I recommended when it was only $15…
Or Blink Charging, which I recommended buying at $19 in a special December 2020 bonus report…
Before it eventually hit a high of $64.50 in under 2 months!
Now I’m opening the doors to his LIVE trading War Room for a limited time to share a new stock in his “sweet spot” he’s calling his “No. 1 EV Play for the New Year!”