Last year I had a great time trading Friday lotto options. As you may remember I had a great run trading AMZN options. You can read about that Here:
Well, Friday lottos are back! Every Thursday afternoon, you can join Ben Sturgill and Ethan Harms LIVE at noon as they give out their best JUNK FOOD TRADES!
Yesterday the guys had me on as a special guest, and we ran through our favorite, ultra-short-dated options plays expiring today!
If you weren’t able to catch the live broadcast, happening every Thursday at 12:30 ET right HERE (← so bookmark the room, and add it to your calendar of you haven’t already!)…
You’ll find this week’s “Junk Food” trade ideas below.
But before we get into it, let’s look at how last week’s plays worked out…
Last week on 2/24/22 Ben mentioned this trade:
MSFT Long
Contract: $290 Calls
I said ‘Ethan likes these here at .89 as MSFT makes traction with the volume on this contract. 1.5x the open interest.’ and sure enough…
The option contract went all the way to 7.30 the next day!
Reminder: All “0-DTE” contracts expire tomorrow, March 4, unless otherwise noted.
DWAC Long
Contract: $95 Calls, $100 Calls
$95 calls for 3.40 or the $100 calls in the first hour of trading tomorrow for 1.40.
UPS Long
Contract: $212.50 Calls
I like the $212.50 for 2.68 for a trade into the morning session looking for the stock to hit $215 and higher.
QQQ Short or Long
Contract: $342 Calls or Puts
Making a call into the close today if QQQ cannot hold the $347/$346 level near the 200 period on the 30 min chart. If it does not hold, then the puts, and if it does, then I am in the calls.
AMD Short
Contract: $110 Puts
If $112.40 breaks I think you have more potential downside here, therefore I am looking at the puts for .70, also of note is the extremely tight bid-ask and high volume here.
RIVN Long
Contract: $53 Calls
Lots of action in this stock and with this volatility, I think it could bounce. Therefore I’m looking at the $53 calls here for around .82 as the stock is very oversold on the RSI.
*** ETHAN BONUS***
GOGO Long
Contract: $15 Calls
Not weekly contracts here, going for March 18, 2022, monthly $15 calls for 1.30. Could move even higher from here, nice gap up, holding this level higher, could hold here at $15 and go to the $16 level.
*** JEFF BONUS***
XLE Long
Contract: $73 Calls
Going for an extension of the energy trade here and looking at the $73 calls for .85 into the 3/4/2022 contract expiration.
As always, keep in mind that these are my (or Ethan’s) trades, and we have our own objectives and risk-tolerance, which may dramatically differ from yours. “0-DTE” and similar “lotto-style” trades are not for everyone. They are, by their nature, lower-probability, higher-upside-potential trades that are not for the faint of heart.
