In Wednesday’s Blitz Daily with Lance Ippolito, we take a look at chipmaker Microchip Technology as tech stocks sell off.
The market slid Wednesday after disappointing earnings news and inflation fears crept back into the spotlight ahead of the Federal Open Market Committee minutes release.
With storm clouds moving into the markets, tech and growth stocks are seeing heavy selling, and bearish order flow is burning up the tape!
Semiconductor name Microchip Technology was among the hardest hit, dropping as much 5.7% from Tuesday’s closing price as shareholders unloaded the stock ahead of its Aug. 18 dividend date.
My scanners spotted massive bearish bets in the chipmaker, with one big-money trader sweeping up around 1,150 contracts of the Aug. 26 expiration, $71 strike puts for about $250,000 in premium!
Of course, this wasn’t the only name seeing outsized options activity…
- Boeing Co. (NYSE: BA): Oct. 21, $145 PUT.
- Deutsche Bank AG (NYSE: DB): June 16, 2023, $8 PUT.
- Microchip Technology Inc. (Nasdaq: MCHP): Aug. 26, $71 PUT.
Check out my short video and I’ll break down the day’s most unusual options order flow in no time flat!
P.S. Over 90 days ago, 80 traders took a HUGE leap of faith…
They joined me inside a beta test group to explore a brand-new way to trade options…
I didn’t promise them overnight success, or guarantee we’d even beat the market…
All they knew was we were going to leverage the $120 trillion market force thats caused some of the most prominent stocks to rise and fall…
They had that much faith in me that things would work out… And boy did they ever!
We uncovered some of the most incredible trades during some of the worst market conditions I can remember…
We scored a 42%* gain on PYPL in three days, 38%* gain on SU in four days, and a 38%* gain on SDGR*…And at 11 a.m. EDT, this Thursday, Aug. 18, I’m hosting a special session where I’ll reveal how these 80 brave traders and I outsmarted 2022’s dumpy market.
Claim Your Spot Here!
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 Tracker, which alerts me to big, institutional options order flow throughout the day. Then we get in on these plays and follow the “smart money.”
By doing this, we cash in whether the broader market is going up, down or sideways.
The Blitz Daily with Lance Ippolito is where I go over a handful of options trades that hit my Blitz Tracker each day, Monday through Thursday. I will break down the trade with the sexiest order flow and tell you exactly what I think can happen with that stock by the next day’s opening bell.
If you want in on these fast-moving options plays, with entry, exit and profit targets sent directly to you via text and email alerts, be sure to sign up for Weekly Blitz Alerts!
In the meantime, you can follow me @LanceIppolito on Twitter, Instagram and our YouTube channel for more trading insights and tips. And as always, you can find me right here talking stocks and options trading — and printing money — on WealthPress.com!
*Stated results are typical for given period. Past performance is not indicative of any future results. Trade at your own risk. From May 19, 2022, through Aug. 18, 2022,, the average win rate was 71%. The average return on options was 13.04% over a six-day average hold time.