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Bullish Trader Lays Down $1.7M Bet on Oil Name as Selling Continues

by | Jun 13, 2022

In Monday’s Blitz Daily with Lance Ippolito, we take a look at oil name Suncor as energy stocks dip.

It was a sea of red with the S&P 500 plunging as much as 3.8% an hour into Monday’s open.

Not even red-hot energy names could buck the trend, with the Energy Select Sector SPDR Fund (NYSEArca: XLE) losing around 3.5% on the day…

But one trader’s drawdown is another’s dip buy, and we spotted several institutional traders looking to take advantage of Monday’s pullback… including an outsized bet in oil producer Suncor Energy.

Bullish options traders loaded up on the Canadian company, dropping as much as 7.1% Monday, with one buyer grabbing around 9,500 contracts of the July 15 expiration, $40 strike calls for over $1.7 million in premium!

Of course, that wasn’t the only stock hitting the tape Monday. I have two more top trades waiting below…

    • Suncor Energy Inc. (NYSE: SU): July 15, $40 CALL. 
    • Kohl’s Corp. (NYSE: KSS): June 24, $44.50 CALL.
    • Abercrombie & Fitch Co. (NYSE: ANF): June 17, $18 CALL.

Check out my short video and I’ll break down the day’s most unusual options order flow in no time flat! 

And to find out how I trade wires like these over the weekend, check out my Wiretap Alerts strategy!

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With all these intense market conditions, some mornings it’s hard to find the inspiration to get out of bed let alone trade…

But six months ago, WealthPress Senior Strategist Roger Scott chose to ignore all the noise, and he set out on a mission. 

He wanted to bring his readers something brand-new… Roger had a vision for an entirely new way to trade… 

One that doesn’t require any sort of technical indicators or fundamental analysis… And it has shocked him to his core. 

Get Your Seat for the Premiere

Blitz Daily With Lance Ippolitto

At Weekly Blitz Alerts, we like to print money, baby! I know, I know, you’re probably thinking, “Lance, how do we do that? Print money? Come on…”  

But in all seriousness, 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!

WRITTEN BY<br>Lance Ippolito

Lance Ippolito

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