OptionsPlay DailyPlay Ideas Menu – April 23rd, 2026

💰 The Income Generators (High Probability, Cash Flow)

• LRCX: Put Vertical capitalizing on strong semiconductor equipment demand and robust earnings momentum following their recent report.
• CMI: Put Vertical leveraging the industrial sector’s resilience and strong commercial engine demand ahead of their upcoming earnings release.

🚀 The Growth Seekers (Higher Risk, Max Reward)

• (No trades in this category today)

🛡️ The Portfolio Protectors (Hedges & Bearish Bets)

• TEAM: Call Vertical fading the recent rally due to ongoing valuation concerns and slowing enterprise software growth metrics.

1. LRCX ($265.55) – Post-Earnings Momentum Continuation

• The Trade: Sell to Open the LRCX May 29, 2026 260/240 Put Vertical @ $8.20 Credit.
  • 🟢 BUY TO OPEN May 29, 2026 240 Put @ $11.30
  • 🔴 SELL TO OPEN May 29, 2026 260 Put @ $19.50
• Trade Metrics: POP: 55.07% | Collect $820 per contract vs. a Max Risk of $1,180 (1.44:1).
• The Why: Capitalizing on strong semiconductor equipment demand and robust earnings momentum following their recent report.
• The Technicals: LRCX remains in a strong multi-month bullish trend and has recently experienced a short-term CCI pullback to its immediate support level near $251, providing a solid entry point for a bullish setup.
• Management:
  • Stop Loss: Buy back the spread at $16.40 (100% of credit received).
  • Take Profit: Buy back the spread at $4.10 (50% of max gain).

2. CMI ($639.22) – Industrial Resilience Income

• The Trade: Sell to Open the CMI Jun 18, 2026 640/620 Put Vertical @ $9.10 Credit.
  • 🟢 BUY TO OPEN Jun 18, 2026 620 Put @ $29.30
  • 🔴 SELL TO OPEN Jun 18, 2026 640 Put @ $38.40
• Trade Metrics: POP: 50.57% | Collect $910 per contract vs. a Max Risk of $1,090 (1.20:1).
• The Why: Leveraging the industrial sector’s resilience and strong commercial engine demand ahead of their upcoming earnings release.
• The Technicals: CMI is maintaining a steady uptrend across the 1-month and 6-month timeframes, consistently making higher highs and holding strong structural support above the $607 level.
• Management:
  • ⚠️ Warning: Earnings is scheduled for May 05, 2026, which may require active management.
  • Stop Loss: Buy back the spreade at $18.20 (100% of credit received).
  • Take Profit: Buy back the spread at $4.55 (50% of max gain).

3. TEAM ($74.01) – Fading the Relief Rally

• The Trade: Sell to Open the TEAM May 29, 2026 74/90 Call Vertical @ $5.30 Credit.
  • 🔴 SELL TO OPEN May 29, 2026 74 Call @ $8.80
  • 🟢 BUY TO OPEN May 29, 2026 90 Call @ $3.50
• Trade Metrics: POP: 65.37% | Collect $530 per contract vs. a Max Risk of $1,070 (2.02:1).
• The Why: Fading the recent rally due to ongoing valuation concerns and slowing enterprise software growth metrics.
• The Technicals: TEAM has rallied into immediate resistance near $78 following a long-term bearish trend, presenting an optimal risk-reward scenario to fade the recent crossover of its 50-day moving average.
• Management:
  • ⚠️ Warning: Earnings is scheduled for Apr 30, 2026, which may require active management.
  • Stop Loss: Buy back the spread at $10.60 (100% of credit received).
  • Take Profit: Buy back the spread at $2.65 (50% of max gain).