Corning (GLW) Case Study - The Importance of Following Options Flow

In the first three minutes of trade today I saw big blocks buying the February $22 calls in Corning (GLW) at $0.42, offer side buying and soon that swelled to 5,000 contracts (More than 8,000 traded by day end). Shares opened quietly but started to make a run soon after, sending the calls for $0.42 up to $1.15 just before 3pm, an easy trade for an option scalper, nearly a 200% gain intraday.



I've come to learn that often the hottest action in the first 15 minutes in the options market tends to be the best for day trading options, and this is just an example of something seen most every day where there are opportunities to flip options intraday for 100%+ gains, especially near option expiration when much of the premium has been sucked out of these names that have very liquid trading and $1 strike increments.