I love the Jim Rogers saying, “I just wait until there is money lying in the corner and all I have to do is go over there and pick it up.”

What he means is that he must be so compelled to take a trade that it should feel like it is free money — a really good rule for traders, if you ask me.

Here is a trade idea that might fit that mold:

Baker Hughes (NYSE:BHI — $45.25): Long Calls

The trade: Buy the May 45 calls for $2.05 or less.

The strategy: The long call strategy is relatively straightforward. The trade profits when the stock rises, and the call premium increases as the BHI option moves more and more in-the-money. Maximum profit is unlimited because BHI can continue to rise, and the maximum loss is $2.05 or whatever was paid if BHI finishes below $45 at May expiration. Breakeven is $47.05 at expiration based on a cost of $2.05.

The rationale: Baker Hughes supplies oilfield services and products to oil and natural gas producers globally. The company has been making strides to make operations more efficient and controlling costs in the wake of lower natural gas prices. The good news for the company is that international business is picking up and is starting to represent a bigger share of their business.

Click to Enlarge With that being said, BHI looks ready to move higher because of the chart. The stock is technically in an uptrend, setting higher pivot highs and higher pivot lows over the last month. Currently, Baker Hughes has come down to an upward-sloping trendline and reversed off of it on Friday. This might just be a quick pop higher of a dollar or two, so be cognizant of that for this trade idea.

A bullish sign would be if BHI can trade through Friday’s high, which was $45.34.

As of this writing, John Kmiecik did not hold a position in any of the aforementioned securities.