In Wednesday’s Blitz Daily, we take a look at multinational tech titan IBM after the company disclosed details of its latest spinoff with the SEC. Now I know what you’re thinking...
“Lance, this is a boring, low-beta stock. What am I going to do with this?”
Print money, that’s what! In this choppy market, boring stocks have been working out the best because all it takes is a small move to see big gains!
And good ol’ Big Blue is on a tear! Shares are around $139 right now, and we’re seeing repeat buying in short-dated options.
IBM recently closed above its 50-day moving average, which is a strong line of support for the share price. And the bulls came in strong, with repeat call buying in the Oct. 8 expiration $138 and $140 strike options, with more than 4,000 contracts traded between them!
But we’re not done yet! I have three more trades seeing unusual order flow, so let’s get moving...
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