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This Social Media Stock Is Soaring on Rumors of a Buyout

by | Oct 20, 2021

In Wednesday’s Daily Blitz, we take a look at social media stock Pinterest.

The stock recently traded well below its 20-day and 50-day moving averages, but has rallied on rumors that fintech company Paypal Holdings Inc. (Nasdaq: PYPL) is interested in pursuing an acquisition. 

Paypal would reportedly buy the company for $70 per share, valuing the social media site at roughly $39 billion. The news sent the stock up more than $10 per share from its early October lows, up to around $63 per share. 

The rumors also fueled a buying frenzy in the company’s options, as traders came in to snap up almost 6,000 contracts for the Nov. 12 $63 call. We also saw some action in the Nov. 19 $65 call

There was also a lot of action in steel stocks on Wednesday, with Nucor, U.S. Steel, Cleveland-Cliffs and others all seeing institutional buying.

So let’s take a look at these hot steel trades, as well as some others experiencing unusual buying activity…

  • Pinterest Inc. (NYSE: PINS): Nov. 12 $63 CALL.
  • Pinterest Inc. (NYSE: PINS): Nov. 12 $65 CALL.
  • Nucor Corp. (NYSE: NUE): Nov. 19 $107 CALL.
  • United States Steel Corp. (NYSE: X): Nov. 19 $22.50 CALL. 
  • Cleveland-Cliffs Inc. (NYSE: CLF): Nov. 5 $24 CALL.
  • United Parcel Service Inc. (NYSE: UPS): Oct. 22 $195 CALL.

Check out my short video, and I’ll break down today’s most unusual options order flow in just under two minutes! 

And if you want to get in on these orders as they hit my Blitz Tracker in real time — and even more actionable trade ideas — be sure to join us in the Daily Profits Challenge War Room! 

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’s going to happen with that stock by the next day’s opening bell. 

If you want in on these explosive 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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