We have a new buy alert that has triggered.

Our Hot Money monitor just spotted a massive amount of new call option contracts purchased, betting these will soar higher.

Buy-to-open RLX Technology Inc. (RLX) June 18, 2021, $15 Call (RLX210618C00015000)

At last glance, these contracts are trading at $0.70 x $0.85 per contract.

The profit target will be around $0.97 with a stop-out price at $0.45 per contract.

But, I'm going to play through a call spread.

That means I am going to buy the June $15 call and sell the $17.50 for a 30 cent debit.

Now, let’s manage our risk before entry and I’ll keep you updated every step of the way.