In yesterday’s Trade Talk Tuesdays video, I teased the details behind my recent “lotto scratcher” play on Bed Bath & Beyond (Nasdaq: BBBY).

In short, this play doubled overnight – and it’s still “in play” right now.

So here’s the scoop…

Back on April 15, I shared this with War Room members:

As a reminder, after the close today, Bed Bath & Beyond reports earnings. We all know that the stock is in trouble. Perhaps it’s even approaching “dumpster fire” levels. However, there’s a MAJOR short squeeze that could possibly be in the works. Right now, more than 69 million Bed Bath & Beyond shares are short – making up 85% of the float. On ANY sign of good news – and I mean anything (even like “one of our workers found an extra $1 bill in their cash register in our outlet store in Sheboygan, Wisconsin”) – this thing could really fly. So we may enter into a small speculation on a short squeeze using calls.

After that, I went on to explain that the Bed Bath & Beyond play is something I call a “lotto scratcher” position.

In other words…

You can walk into a gas station, buy a $3 lotto scratcher and hope to hit a big return.

Or…

You can buy shares of Bed Bath & Beyond – just above $6.50 now – and hope for an equally powerful return.

In my view, the Bed Bath & Beyond speculation is far more attractive. For such a low price, it’s simply worth picking out one pitch, hoping for a fastball, closing your eyes and swinging for the fences. If you miss, it’s not a huge loss. Strike one. But if you connect – you hit a home run. That’s a risk-reward scenario I’ll take every single time.

The point is, every once in a while, I like to make a long-shot play that just might surprise the world – and hit. It’s the very essence of “Smart Speculation,” which encompasses everything we do here at Monument Traders Alliance.

If it hits, you’re a huge winner – and the payday could be substantial.

If it doesn’t hit, then you simply take the loss and move on.

What happened with Bed Bath & Beyond?

It hit!

The company reported adjusted earnings (for the three months ending March 2) of $0.38 per share, which, as we suspected, were down 68.3% from the same period last year.

However, since this figure was $0.18 ahead of the Street’s consensus forecast, it triggered an upside pop. Bed Bath & Beyond said that the stay-at-home orders caused sales of vacuum cleaners and breadmakers to jump 400%!

It’s true. My wife just tried to buy a breadmaker – and it’s entirely sold out.

Unbelievable!

Just look at this upside reaction on Bed Bath & Beyond from less than $4 per share!

Action Plan: I still believe that this stock has room to run – possibly up to $8 – which makes me indirectly bullish on breadmakers and vacuum cleaners.

What a crazy market we’re trading in right now!

What did War Room members say about this winner?

See for yourself below – and join me in The War Room for the next big winner today!

Our “lotto scratcher” play on Bed Bath & Beyond delivered huge returns…

“Got my first 400% return.” – Dru C.

“Riding 150-300% returns on BBBY today.” Dru C.

“Held onto 5 shares of BBBY in @ $0.60 out @ $01.70.” – Charneal M.

“Nice profit just over $1100… BB, you ROCK.” – John D.

“BBBY May 8 $5C in @ $0.51 out @ $1.01, 98% profit on nest of 15.” – Suz

“In @ $0.50 out @ $1.04 very nice win.” – James H.

“First trade in The War Room and first options trade ever: In BBBY May 15 5 @ $0.55, out @ $1.19, 113% on my first trade. Thanks, Bryan.” – Don R.

P.S. This is your special Trade of the Day “take profits” alert! Thanks to this Fed-pumping rally, you’re seeing some immediate gains on many of our past Trade of the Day picks. So right now, I’d like you to use today’s market bounce to take profits on any recent Trade of the Day plays that are profitable. Notably, picks like AMC Entertainment, Pfizer, Tilray, Ulta Beauty, Pinterest, Anheuser-Busch, Hormel Foods, Blue Apron and Slack all could be profitable for you – depending on your entry price. So the advice is simple: If you’re showing a profit on any of these, ring the register now! And then you can avoid the risk of a coming market pullback. After all, if we need to reload any of these plays, I’ll let you know! But for now, take the money and run!