In Tuesday’s Blitz Daily with Lance Ippolito, we take a look at social media company Snap as shares spike after insider selling.
Markets are edging higher in another seesaw session despite a rare hawkish move from the Japanese central bank.
Meanwhile, the mounting selling pressure we’ve seen over the past few days is fueling a squeeze higher on tech and growth names Tuesday as buyers dip back into the market.
One familiar name hitting the wire was our old friend Snap…
Shares of the beaten-down social media stock have struggled to find momentum amid a 28% slide over the past five weeks, culminating in a downgrade from analysts at Jefferies…
But the bottom fishers were out on the water Tuesday after recent filings showed Snap CFO Derek Andersen recently unloaded 67,000 shares.
Wondering what those little arrows mean and how they can help improve your trading? Get the details here!
The sharp sell-off whipped the bulls into a frenzy, sparking a 5.5% rally in the share price as big-money traders peppered the tape with massive call-buying.
Less than an hour into the open, my scanners spotted back-to-back bullish buys, with one deep-pocketed degenerate sweeping up 5,500 contracts of the Jan. 27, 2023 expiration, $8.50 strike calls for more than $400,000 in premium!
But that wasn’t all… A minute later, another trade of more than 3,000 contracts of the Jan. 27, $9 calls rolled in for more than $175,000 in premium!
Keep in mind that these are high-octane options that come with a boatload of risk, so be sure to use proper risk management.
Of course, that’s not the only name hitting Tuesday’s tape…
- AMC Entertainment Holdings Inc. (NYSE: AMC): Dec. 23, $5 CALL.
- GameStop Corp. (NYSE: GME): Dec. 23, $22 CALL.
- Snap Inc. (NYSE: SNAP): Jan. 27, 2023, $8.50 CALL; $9 CALL
- Tesla Inc. (Nasdaq: TSLA): Jan. 6, 2023, $180 CALL.
Check out my short video as I break down the day’s most unusual options order flow in no time flat!
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Blitz Daily With Lance Ippolitto
At Weekly Blitz Alerts, 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 order flow through the day. Then we get in on these plays and follow the “smart money.”
The Blitz Daily with Lance Ippolito is where I go over a few options trades that hit the Blitz Scanner each day, Monday through Thursday. I break down the trades with the sexiest order flow and tell you what could happen with those stocks by the next day’s opening bell.*
If you want in on these explosive options plays, be sure to sign up for Weekly Blitz Alerts! We send entry, profit targets and exits directly to you via text and email alerts.
In the meantime, you can check out our YouTube channel for more trading insights and tips. And as always, you can find me right here talking stocks and options trading on lanceippolito.com!
*This is for informational and educational purposes only. There is inherent risk in trading, so trade at your own risk.
