Ian Cooper has shared some great insights with us recently and last week the readers of his Trade Alert 365 were able to grab a quick little 46% gain in just a week. Growing your account quickly is all about finding these great trades, consistently. Take a look at what he sent his readers on 8/23:
Action to take:
Buy to open LYFT October 15, 2021 47.50 calls at market today.
Investors may want to pay close attention to Lyft.
Late last week, a California court struck down a measure that exempted these companies from a “state law requiring drivers to be classified as employees eligible for benefits and job protections,” as noted by USA Today.
In addition, according to The Wall Street Journal, “The companies don’t need to immediately change their way of doing business, but Friday’s ruling adds a wrinkle in their efforts to preserve their independent-worker models and serves as a setback in their years-long fight against the California law at the heart of the ruling.”
However, analysts say investors should buy the dip, with chances for a successful appeal.
For one, Mizuho analyst James Lee says the appeal process could take up to a year. He also says Prop 22 will remain in effect, leaving drivers are independent contractors.
Bank of America’s Justin Post also reiterated a buy, noting, “With Prop 22 winning in the 2020 election by a wide margin (5 9%/41%) and legal challenges to ballot initiatives in CA being fairly common, we expect many investors to see a solid basis for winning an appeal,” as quoted by Street Insider.
Just a few days later, his readers opened up their email and saw this:
Action to take:
Sell to close second half of LYFT Oct. 15, 2021 47.50 calls for a win. We picked these up at $2.74. The call is now up to $4.
He had already had them exit half of the position to lock in the profits and made sure he maxed out the second half.
The crazy thing is, he is offering this for just $1! Imagine opening your inbox in the morning to a nice 46% quick win. If you did that each week you would definitely be hitting your trading goals. Check out his Trade Alert 365 here.
Keep Learning and trade wisely,
Market Wealth Daily
PS-If you want to check out other recent articles from Ian, click here.