One might have assumed the fake-out bar on the opening bell had become too predictable to rely on for our Friday Jackpot bets. But look at how LNKD opened on Friday: with a move opposite the direction the stock took for the remainder of the day. This sort of thing occurs routinely mainly because the professionals charged with taking the other side of market orders that come in on the opening bell are given a great deal of leeway in setting their price. This means that if the market makers are swamped by public orders to sell-at-the-market, they can drop their bids to fire-sale levels to handle the onslaught.

On Friday, the result was that out-of-the-money call options that could have been purchased for as little as 0.10 traded later in the day for more than 30 times that. There were no reports in the chat room of subscriber having done the trade, but I am calling it to your attention nonetheless so that you are aware of the kind of opportunities that are available on Friday’s, when weekly options are mere hours from expiration. Keep that in mind next Friday, when we’ll want to focus once again on the lunatic stocks that can swing BIG intraday.