Hey, Profit Pregamers!
It was just yesterday that I described a 5-minute bar buy signal on Tesla (TSLA), and singled out the weekly $805 call as a possible trade on the short-term signal.
While these signals sometimes end up being super-quick day trades, TSLA cropped up again today as a 5-minute bar buy at $801… right alongside Netflix (NFLX):
BTC Call Flow, Chilled-Out Bids, and a 2-Minute TJX Trade
If you followed the short-term momentum on TSLA, way to go!
If not, don’t worry – earnings season is JUST getting started. That means a ton more trades and lots of option volume will be hitting my signature scanners…
And I’ll be bringing you some of the most interesting signals, biggest trades, and best trading lessons, right here in Profit Pregame.
Today, that includes a big pickup on some Bitcoin-related call options, a pro tip on buying options at YOUR best price…
BTC Call Flow
Where’s the money?
Bitcoin miner Marathon Digital (MARA) drew some call flow on Tuesday at the soon-to-expire October 15 $52 calls – a super-low-priced option going for less than $0.25, per my scanner screenshot:
How do I get some?
Buying these calls could be a bet on Bitcoin itself moving higher, since stocks like MARA often move in concert with the cryptocurrency.
In any event, earnings are about a month out for the company – so the big purchase on these extremely short-term contracts (which are more than 10 points out of the money, following MARA’s Tuesday pullback) certainly piqued my interest.
At less than $0.25 each, following this flow would be a cheap “flyer” on MARA rebounding sharply by the end of the week – though this type of highly speculative trade carries a high risk of total loss, too.
Want More Like MARA – Live?
In my newly upgraded 1450 Club, members can watch big trades like MARA hitting the tape all day long – from all of my scanners.
That includes Tuesday’s winning play on PLUG, which hit 50% near the final hour of trading:
In the Spotlight: Day Traders Unite!
Sometimes, my scanner plays require a little patience…
But I’ll admit to a serious love of instant gratification day trades.
On Tuesday, I flagged the TJX October 15 $64 calls for $0.46 at 9:59 AM as huge call buyers came in…
While you all know & love my signature options scanners, Kenny’s going live TODAY at 9:30 am to explain the single tool he’s using to master the market.
Love instant gratification in this market? Me, too.
Pro Tip: Chilled-Out Bids
Here’s a pro tip: Never, ever rush into a trade.
First of all, there’s always another opportunity right around the corner. (Or right off the scanner, as the case may be.)
But “chasing” a trade often means paying higher prices – which can really eat into your profit potential, especially when playing low-priced options over short time frames.
So try the method I used on Tuesday – put in some chilled-out bids on options that are well below market, and wait for the underlying stocks to pull back.
Boom! You get an even better fill on some already-cheap plays – giving you even more leverage on the option.
I got a nice fill on some CVS calls around $0.25 using this “sit back and relax” method.
The market won’t always come to you, of course… but if it doesn’t, don’t chase.
Simply move on to the next opportunity.
Alright, traders – earnings season is upon us, so stay safe out there!
I’ll have even more fresh signals, stocks, and tips for you tomorrow.
Founder, 1450 Club