Good morning, Bullseye!

Jason Bond here and I’ll be filling in for Jeff Bishop Monday and Tuesday.

We’ll use my chat room this morning at 9:20 AM ET for premium members and again at 11 AM ET for ALL Bullseye members:

https://app.ragingbull.com/rooms/jason-bond

My Bullseye pick that I want to buy this week is (CVNA) calls.

The trade plan is 11/29 CVNA $250 Calls around $8. 

CVNA options 11/29//24 near $8  –  11  days later $19.1 = 138%

Jason’s Reasoning:

CVNA is heavily short at 12% of the float and given their recent earnings beat and interest rates coming down, I think it’s on the way to $300 in the near future.

Shares are up a few dollars in the premarket so I’ll be patient and wait for a dip to enter. The stop loss would be on a break of clear support at $238. 

I’ll be looking to exit on a breakout at $260 using fibonacci extensions which we’ll discuss live today at 11 AM ET.

Eat. Sleep. Trade!