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Hey traders, Lance Ippolito here! Welcome to our Weekly Rundown, where we'll share some of our top trading ideas — and our biggest winners!
Now, let's get to some…
There have been a ton of amazing trades to be excited about hitting my Blitz Tracker the past few weeks. And today I want to discuss how to play spiking car prices…
There have been so many red-hot tickers running in the Blitz Daily Market Color I don't have enough room to squeeze all of my favorites into the weekly watchlist.
So I wanted to take a moment to dive into a few of the names and share as much intel as possible about them. I'm also going to drop a few extra trade ideas to help in your hunt for big gains.
Trade Ideas for Spiking Car Prices
There are so many good trade ideas on my weekly watchlist that you guys have to check your inboxes each Sunday. Here are a few recent ideas I want to highlight...
◾ Uber Technologies Inc. (NYSE: UBER): Looking at the June monthly calls at the $51 strike, Uber was getting bought around $1.10 to $1.20 a contract. It's had a bit of a dip, but as reopening continues and demand picks up, traders — myself included — are looking for a pop. Not a bad choice to buy the dip in Uber as travel demand really starts to pick up.
◾ KAR Auction Services Inc. (NYSE: KAR): I'm a car guy and I'm super interested in this ticker… The used car market is booming right now. Due to supply chain shortages, especially in semiconductors, you can't get new cars. That's great for a company like this. On June 2, traders jumped in to buy July 16 $20 strike call options to the tune of about 3,000 contracts just before the closing bell. We saw similar trading to this a few months ago, before earnings, and the stock catapulted 17% to the upside. So it's one to keep an eye on.
◾ Skyworks Solutions Inc. (Nasdaq: SWKS): Skyworks buyers came in aggressive with in-the-money puts expiring this week when Apple had an event. There are rumors floating that could impact this semiconductor company, among others. It's rumored that Apple could begin making its own semiconductor chips, which could hurt their business and cause semiconductors to fall. And in fact, Apple is going with custom-designed, in-house chips and ending a 15-year partnership with Intel Corp. (Nasdaq: INTC). The news didn't crush Intel stock this week but it's something to keep an eye on going forward.
BIG Wins
We had a few more big winners this week from our Weekly Blitz Alerts, 3D Profit Surge Alerts and Blockbuster Breakout Calendar strategies — I love spreading the wealth like this!
On Monday, 3D Profit Surge Alerts members received an alert to a trade in cybersecurity firm FireEye Inc. (Nasdaq: FEYE). The stock dropped over 17% last week following the sale of its software products unit. The day after the sell-off, FEYE President and COO John Watters bought over $450,000 in shares on the open market, increasing his position by about 10%.
This is an aggressive dip buy and a prime opportunity to initiate a long position. And when insiders go on a buying spree like this, that's a great sign. The stock recovered this week, including a 5.6% jump on Thursday, propelling the July 16 $20 calls for a 101.14% gain in three trading days!
- +101.14% on FEYE (July 16 $20 CALL)
- Entered onJune 7 at $0.88 a contract.
- Exited on June 10 at $1.77 a contract
Bullish buyers spent $1.17 million on IQIYI Inc. – ADR (Nasdaq: IQ) July 23 $14 strike calls last week. The China-based streaming stock has seen a lot of volatility of late, and many Chinese American Depository Receipts (ADR) stocks have seen 40% to 50% drops. So the bulls were looking for a bounce...
With shares consolidating around $14, it was a good risk vs. reward setup. I gave the green light on June 4 for Weekly Blitz Alerts members to move into the July 23 $14 call. The stock jumped 6.5% early Wednesday morning, pushing the options to our first profit target of $1.85. So we took profits on half of the position for a solid 48% gain in under a week!
- +48% on the first half of IQ (July 23 $14 CALL)
- Entered on June 4 at $1.25 a contract.
- Exited on June 9 at $1.85 a contract
Just after the opening bell on Monday, the FDA announced its approval of Biogen's new Alzheimer's drug, Aduhelm. Trading was halted several times as the news shot Biogen Inc. (Nasdaq: BIIB) shares up 63.5% in just under three hours.
On June 3, I sent out an alert to Blockbuster Breakout Calendar members to target the iShares Nasdaq Biotechnology ETF (Nasdaq: IBB). At the time of the alert, BIIB was the seventh-largest holding in the portfolio, making up about 3.3% of the ETF. So when the news broke Monday, shares of IBB raced over 5.5%, and we cashed in for a 183% gain in less than three trading days! Printing money, baby!
- +183% on IBB June 18 $151 CALL
- Entered on June 3 at $3.00 a contract.
- Exited on June 7 at $8.50 a contract
If you have a big score you'd like to share with your fellow Future of Wealth readers, email us your screenshots of the trade and/or any details you want to share at wptestimonial@gmail.com, and we'll celebrate them here!
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Signing Off
If you're looking for more compelling trade ideas and stock market musings to read and help you prepare for what lies ahead, here's what other experts at WealthPress are saying:
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