We have a new buy alert that has triggered…

Our Hot Money Tracker spiked with a 540% increase in the put options volume in Ally Financial Inc (NYSE: ALLY).

Hot Money purchased around $210,000 in the put options premium betting that prices will sink lower in the coming days.

If Hot Money is correct, we could see these Ally Financial Inc puts quickly increase into a double or triple-digit gain.

Here's what we're doing...

We're buying to open the ALLY October 18, 2019, $33 puts up to $0.65 per contract.

Action to Take:

• In your brokerage account, locate the ALLY October 18, 2019, $33 puts:
• The symbol is ALLY191018P00033000.
• Search for options under the stock ticker: ALLY.
• Make sure you choose the right options expiration (expiring on October 18, 2019).
• Choose the $33 strike price.
• Select "puts" options. Select how many contracts to buy.
• Once you have the right contract, click "buy to open."
• Choose "limit order." (This sets the max price you'll pay per contract).
• Use a limit of $0.65 per contract.
• Click "Day" for TIF (Time In Force).
• Then click "buy" to transmit the order.

You can also call your broker and say, "I want to buy ALLY October 18, 2019, $33 puts with a $0.65 limit; for the day."