Despite the pre-fed bloodbath out there, not every stock is down.
After having a pretty rough few days, both Lyft (LYFT) and Uber (UBER) are are seeing a decent bid form. In addition, LYFT in particular is seeing some heavy option flow that makes me think the name could go on a run in the next day or two. I would be using the price action today to build out a long position. The $18 calls for Oct. 21 cost only about $0.92; these are cheap and will end up in the money at some point. I am a buyer.
Trade: Buy to open one LYFT Oct. 21 $18 call for $0.92.
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It's hard to buy the "everyone is bearish" argument, but there are reasons to believe there could be selling pressure as the end of the year approaches.
These kind of names are in short supply in the current market.
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