The number of different ways to trade stock can intimidate some investors. But before deciding what specific options to buy or sell, the very first step is deciding which underlying stock offers the greatest opportunities. 

Walmart stock might have the best call option play now on the market. And here's why.

When we say "opportunities," we mean the greatest chance that it will start to move – either higher or lower – in a big way. With options, we can leverage that move into a beefy profit.

Some stocks are well-known big movers. You can probably create a nice list of usual suspects, like the Big Tech giants that have led the way higher this year. Combine that with the way online shopping has exploded in the COVID-19 era, and naturally, you're drawn to Amazon.com Inc. (NASDAQ: AMZN).

The problem is that Amazon stock is just too darn expensive. Even forgetting its astronomical share price above $3,280 per share, its options are expensive relative to the options of other stocks.

Why? Because options prices depend on, among other factors, the implied volatility (IV) of the stock. If a stock is expected to move multiple percent in just a few days, then its implied volatility is high – and so is the option price.

The good news is that Amazon, as great as it is at selling you things, is not the only game in town. If you like the prospects for making money with Amazon, then Money Morning Millionaire Trader Andrew Keene has crunched the numbers to bring you a better choice.

Not only is Walmart Inc. (NYSE: WMT) a worthy competitor to Amazon, but it has lower levels of volatility. That means its options are cheaper, dollar-for-dollar, than Amazon's.

How to Profit from Walmart Stock Options

Lower levels of volatility are great for options traders who want to control shares of the underlying stock with options. However, as we mentioned earlier, you still need to find a great stock on which those options are based.

Andrew especially likes Walmart for its ability to reduce the frustrations its customers might have, especially when it comes to returns.

We all have our stories of not being able to contact a company when an item needs to be returned. Or if you can get through, they have a return policy that requires a Ph.D. to decipher.

The problem is that companies can make it a little too enticing to return purchases. That results in lost revenue and added costs in shipping and restocking.

That's why Walmart has figured out how to keep customers happy while cutting down on their cost for returns. The company recently partnered with shipping giant FedEx Corp. (NYSE: FDX), which actually invented the logistics systems that dominate the landscape today.

FedEx will pick up and transport customer returns to central locations in the Walmart logistics system, greatly streamlining the "back end" for Walmart. But, critically, this "Carrier Pickup by FedEx" service will be easier than ever for Walmart customers to use.

Just fire up your Walmart mobile app and print your shipping label or drop it off at your nearest FedEx location, all for free.

It is very hard for companies to "out-Amazon" Amazon. That is why they must figure out how to do other parts of the business better. Walmart has just done that.

Taking advantage of Walmart's potential with options is fairly straightforward. You won't need a fancy options strategy. Rather, we want to simply buy call options that are relatively inexpensive. We know they are inexpensive because of Walmart's lower levels of volatility, especially when compared to Amazon.

Both are great companies. However, one of them is already very pricey, which means the odds of making big profits are lower. That's why we'll stick with Walmart.

The best call options for a stock like this one are generally just out of the money with expiration dates three to six months away. Based on the stock's recent price of $145 per share, that means a strike price between $150 and $160, expiring in perhaps March.