9:20 am (EST) Intel (INTC, $18.07, up $1.24) is powering the futures higher after beating Wall Street estimates by 10 cents.  The Chip sector will be strong today.  Dow futures are up 92 which should translate into a strong open. Bank of America (BAC, $13.22, up $.31) is also higher in pre-market trading.  I’ll update the trade later today or tonight.  We are in the BofA November 15 calls (BYOKO, $1.20) at slightly higher prices but many of you have building positions in this trade since last week.  The company announces earnings on Friday. International Business Machines (IBM, $104.64, up $1.40) could enjoy some gains today and will report earnings on Thursday.  Watch the July 105 calls (IBMGA, $1.00) this morning.  They could get a little pop at the open and if the trend is strong, you may be able to play these for a day trade.  The August 105 calls (IBMHA, $2.65) can also be used.  I’m not sure where these call options will open but check the prices and use limit orders.  Confirm the trend after the stock has traded for 15-20 minutes. Rick@MomentumOptionsTrading.com]]>