Markets saw a phenomenal gap up to open trading for the week, and all morning long I was yelling “Sell!”
Both my Wiretap Alerts and Weekly Blitz Alerts strategies were busy taking profits in multiple positions — days like this are the reason we follow that juicy institutional order flow!
Copper names also surged Monday with increasing economic support in China and a weakening dollar forcing short sellers to cover their positions.
As a result, shares of our good friend Freeport-McMoRan spiked as high as 8.9% and sent the bulls charging into the options.
An hour into the open, my scanners spotted big money buyers scoop up around 2,900 contracts of the July 22 expiration, for around $105,000 in premium!
And of course it’s earnings season, which means those institutional buys are hitting the tape early and often!
Don’t miss the boatload of fresh options trades I have waiting inside including one of my favorite travel stocks…
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