In Tuesday’s Blitz Daily with Lance Ippolito, we take a look at online used car retailer Carvana.
Carvana is highly shorted, and it looks like at least one big-money trader could be looking for a short squeeze in the stock, or they’re protecting against a short position.
Less than 30 minutes into the open on Tuesday, this trader dropped about $210,000 worth of premium on the company’s Dec. 9 expiration, $6 strike calls. In fact, Carvana saw FOUR bullish bets on the $6, $6.50 and $7 strikes between 9:40 and 11:10 a.m. ET…
Most of the flow we’re seeing is short term and to the downside on this bearish Tuesday. Volume is low with a lot of controlled selling. Not much to look at for the long term, but a decent environment for day trading.
Carvana isn’t the only stock hitting the tape today, I have more top trades waiting below…
- Carvana Co. (NYSE: CVNA): Dec. 9, $6, $6.50 and $7 CALL.
- Canopy Growth Corp. (Nasdaq: CGC): Dec. 16, $4.50 PUT.
- Amazon.com Inc. (Nasdaq: AMZN): Dec. 9, $91 CALL.
- Citigroup Inc. (NYSE: C): Dec. 9, $45 PUT.
Check out my short video as I break down the day’s most unusual options order flow in no time flat!
In just a matter of days, the Federal Reserve is doing something that could send shockwaves yet again through the market…
Stocks could soar or plummet in a matter of minutes.
That’s why Chuck Hughes has been working on an underground project to help traders get in front of the big announcement…
But it’s not another alert service… It’s not a stock report…
It’s something much more powerful — and it can help give you a lifetime of trading opportunities.
That’s why at 1 p.m. ET on Wednesday, Dec. 7, Chuck is holding an emergency briefing with Senior Strategist Roger Scott to lay out the battle plan…
But first, we need your help with something…
Click Here to Unlock Your Mission
[Clicking this link will automatically register you for periodic mailings and updates from WealthPress (privacy policy).]
Blitz Daily With Lance Ippolito
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 WealthPress.com!
*This is for informational and educational purposes only. There is inherent risk in trading, so trade at your own risk.
CVNA at accumulation phase , slightly trending higher.