I know that you're not supposed to honor trade, and Riot watches that.

That being said, sometimes I really just want to honor my friends that I play with during exceptional games that they have played, but I never do because I do not want Riot to think that we're trading.

So is it okay to honor friends I play with frequently when they do well?

My friends honor each other every game we play together... Pretty sure they honor everyone in the premade, every queue. While I don't think this is right, I also know they haven't gotten in trouble for it yet. As long as you use it responsibly, don't spam honor every game, and don't say things like "Honor me I honor you!", you should be fine.

I think trading honor is more like "I'll give you honor if you give me honor too" particularly when neither of you did anything honor-worthy.

I don't think it's when you consistently give friends honor.

The reason for this is clear - if you frequently play with certain individuals, that's most likely because you find them a joy to play with - either they're helpful, friendly, or you work great as a team. All three are legit reasons for honor!

Alrighty, I will be sure to honor people when it's due.