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Blitz Daily: Bullish Buyers Bet on Micron to Benefit from Rival Chipmaker Setback

by | Dec 29, 2021

In Wednesday’s Blitz Daily, we take a look at memory chipmaker Micron as its chief rival adjusts its output forecast.

One company’s loss is another’s gain — at least that’s what the institutional buyers are betting on during the mid-week session.

Early Wednesday saw leading memory chip firm Samsung announce it will suspend production at one of its Chinese facilities as lockdown restrictions tighten in the area.

The news helped spark a rally in Micron, with shares shooting up as much as 4% over Tuesday’s closing price! 

Bullish buyers were charging up and down the options chains Wednesday, most notably with the Dec. 31 $95 strike calls trading more than 71,000 contracts!

And if you like that silicon play, I have two more names seeing outsized order flow Wednesday…

    • Micron Technology Inc. (Nasdaq: MU): Dec 31 $95 CALL. 
    • Devon Energy Corp. (NYSE: DVN): April 14, 2022, $49 CALL. 
    • Gilead Sciences Inc. (Nasdaq: GILD): Jan. 14, 2022, $75 CALL. 

For more guidance through the stock markets and big-money trades like these as we head into 2022, check out my Weekly Blitz Alerts strategy!

P.S. WealthPress Senior Strategist Roger Scott just covered his top 3 predictions, his top sector, his No. 1 stock and his No. 1 stock to avoid for the new year during his “Turning Point 2022” event!

You can’t afford to miss this!

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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