Today might be crazy but Friday wasn’t particularly exciting for the market — barely moved all day — but I still managed to find some cheap call setups worth a shot heading into the weekend.
And when it comes to trades like these, I don’t need a massive move to justify the risk. I just need the setup, the flow and a little bit of juice left in the options.
Intel’s Late Pop Caught My Eye
Intel (INTC) wasn’t exactly lighting the world on fire most of the day, but then I saw it pop off the blue line on volume — and that’s when I started paying attention.
Some May monthly expiration, $21 strike calls were hitting for around 75 cents. Not a huge trade, but interesting enough to consider as a weekend flyer.
I’ve seen this pattern before. When traders come in late with size — especially on a name like Intel that’s always got potential for news — it’s usually worth a closer look.
I even asked the chat if it was worth it, just to justify it to myself. No one bit, but I still think the setup was there…
And it was! Intel was up over 3.5% on the open and those calls ripped!
Why I Pulled the Trigger on Nike
Now Nike (NKE) is a different beast entirely. I spotted some May $59 calls hitting the Penny Option Dashboard — a pure throwaway bet — and I had to go for it.
I already had a Nike call spread on, but I doubled down with more 60/62s and added those penny 59s too.
Here’s the thing — this wasn’t just about Nike showing up on a scanner. We’ve seen this kind of end-of-day call activity in Nike before, and it’s usually followed by some sort of catalyst.
Maybe it’s Bill Ackman-related. Maybe it’s China news. Maybe it’s nothing. But when the risk is capped and the upside is 4x or more on a small move, I’m going to take the shot.
And if I’m wrong, I lose a grand and move on. No harm, no foul.
But Nike popped over 6.5% on the open and calls blasted off!
Order Flow:
This is for informational and educational purposes only. These are not official alerts issued by Lance, but rather some interesting orders picked by the team at Lance Ippolito Trading.
When you look at these plays, always take the market maker move into consideration.
You can be right on the direction but still lose money if the stock doesn’t move enough. That’s where the market maker move comes in clutch.
With puts, they’re often downside hedges in case a stock tanks, especially around earnings. The further out of the money they are, the more likely they are to be hedges.
Also be sure and check when the company’s earnings date is because many of the plays we post here are centered around earnings!
And finally, always remember the golden rule when it comes to buying calls: Buy dips, sell rips — and don’t chase!
If a stock’s moved a ton already today, maybe wait for a pullback.
There is inherent risk in trading. Trade at your own risk.
Note: If no date is listed after the month, it’s the monthly expiration (third Friday).
The team at Lance Ippolito Trading
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*This is for informational and educational purposes only. There is inherent risk in trading, so trade at your own risk.
P.S. This Setup Handed Lance a 96% Win Rate in a Terrible Market
About $11 trillion has been lost over the last 10 weeks…
Yet I was able to nail a96% win rate on a daily setup for 4PM Payouts.
Let me show you how it’s done!
