NVDA options 08/12/24 near $2.20 ($2.33 open) – 9 days later $18.60 = 698%

My Reasoning:

My Trade Plan Details:

• IWM Aug 2 $220 calls near $2.80
  
• Stop: Close IWM below $215
• Target 1: $224
• Target 2: $228

Coming into this week, I am still a little gun-shy, but I think the market can keep adding to the recent gains we’ve seen.

If that happens, I want to go with the leaders and not try to speculate too much with smaller momentum stocks.

When it comes to market leaders, we all know the one that stands above the rest…

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

My plan is to get started near the open today and buy both stock and options, hopefully near my target entry price, which I list below.

If this trade doesn’t work out, then I am going to use a closing price under $97 as a stop, which is the recent low from the dip last week.

If this works out, I am looking for a move near $115 as target #1 and possibly even $120 as target #2.

Options up over 16% in less than 1 day

My Reasoning:

I am pretty optimistic about a market rebound this week, but it could also be very choppy.

We have a lot of economic data coming out, plus earnings reports from some of the biggest tech stocks in the world. They will likely decide the fate of the market, but that will come later in the week.

Today, I am focused on a stock that I really don’t like very much, but I have to respect its great trading pattern right now.

It is also a big piece of a sector that has been on the rebound lately.

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

My plan is to get started near the open today and buy both stock and options, hopefully near my target entry price, which I list below.

I will admit this isn’t the absolute best trend out there right now, and it might break down. If that happens, I am going to use a closing price under $115 as my stop limit on this trade.

If things go my way, I think ENPH could be headed to $130 as target #1 and possibly even $140 as target #2.

As usual, I plan to buy multiple positions on this and shoot for 30-50% gains if I can get them.

My Trade Plan Details:

• ENPH Aug 16 $125 calls near $4.20
  
• Stop: Close ENPH below $115
• Target 1: $130
• Target 2: $140

Options up over 157% in just 5 days

My Trade Plan Details:

• IWM Aug 2 $220 calls near $2.80
  
• Stop: Close IWM below $215
• Target 1: $224
• Target 2: $228

My Reasoning:

I typically don’t go after ETFs (which is a single trade that owns a basket of stocks in an index), but in times of uncertainty, I find this helps lower my risk.

Today, I am eyeing what is probably the strongest index in the market over the last couple of weeks.  The recent pullback has my attention, and I think we will see it resume the uptrend soon.

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

My plan is to get started near the open today and buy both stock and options, hopefully near my target entry price, which I list below.

If this trade doesn’t work out for me, I will look at a closing price under $215 as my stop loss, which has been a key resistance/support level from last week’s pullback.

If things work out as I hope, I would like to scale out of most of my position for a 30-50% gain.  

I know the IWM has already made a 10% move higher from the $200 level a couple of weeks ago, and this is late in the game on this epic rally.  I like it right now because it is starting to reverse off of the first meaningful pullback, which usually leads to another move higher.

I think the next move could retest the 52-week high of around $225, which printed last week.  

If that happens, there is a good chance we will see the high taken out and then a spike a few dollars higher, maybe to $228 after that.

Options up over 111% in just 2 days!

CVNA Options 7/15/24 near $3.60 – 2 days later $7.62 = 111%

My Trade Plan Details:

• CVNA July 26 $145 calls near $3.60
  
• Stop: Close CVNA below $127
• Target 1: $145
• Target 2: $160

My Reasoning:

The market continues to rip higher, but I have to say that this has been one of the more difficult trading environments I have seen in a long time.

The volatile swings in momentum stocks have been very tough to nail down.  There are no chart patterns to capture what has been happening.

Personally, I am sizing down on my risk for each trade at this time.  

It is crucial to use limit orders to take advantage of the price spikes to the upside, which sometimes only last a few minutes.

On the downside, I want to make sure I leave myself a bigger stop loss than normal and I’m willing to buy sharp drops in the price rather than get shaken out for losses.

While it is tougher than usual right now, I still think there are a ton of good looking trades out there.

Today, I am going back to an old favorite of mine.  I talked to you about this stock around a month ago when it was trading for $110.

Right now, it is around $136, and even though it has rallied 20% this month, I still think this stock can go a lot higher from here.

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

My plan is to get started near the open today and buy both stock and options, hopefully near my target entry price, which I list below.

f this trade doesn’t work out for me, I will look at a closing price under $127 as my stop loss, which has been a key resistance/support level over the last couple of weeks.

If things work out as I hope, I would like to scale out of most of my position for a 30-50% gain.  

On Friday last week, CVNA hit a new 52-week high just over $140, before pulling back a bit. I think the stock will power through that soon and hit at least $145 as target #1 for me.

If $145 clears, I think it is possible to see a spike to $160, which is where I have target #2.

Keep in mind that earnings are on July 31, so I am going with options that are only two weeks away from expiration.

Options up over 58% in just 2 days!

CRWD Options 7/08/24 near $6 – 2 days later $9.50 = 58%

My Trade Plan Details:

• CRWD July 19 $400 calls near $6.00
  
• Stop: Close CRWD below $378
• Target 1: $400
• Target 2: $410

My Reasoning:

Today, I am going after a very strong stock that has been crushing earnings estimates. It was recently added to the S&P 500 and is knocking on the door of a new all-time high. It is also closing in on a key level.

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

My plan is to get started near the open today and buy both stock and options, hopefully near my target entry price, which I list below.

If this trade doesn’t work out for me, I will look at a closing price under $378 as my stop loss, which has been a key support level over the last couple of weeks.

If things work out as I hope, I would like to scale out of most of my position for a 30-50% gain.  

With the all-time high for CRWD hitting around $394 a couple of weeks ago, I think a break above that level again will propel the stock to $400+, which is the target price I am aiming for.

If $400 clears, I think it is possible to see $410 soon as target #2.

CAVA options up over 55% in just 5 days!

CAVA Options 7/01/24 near $3.80 – 5 days later $5.90 = 55% 

My Trade Plan Details:

• CAVA July 19 $95 calls near $3.80
  
• Stop: Close CAVA below $89
• Target 1: $100
• Target 2: $110

My Reasoning:

Today, I am going after a previous winner from a couple of months ago.

In fact, I have alerted this stock a few times and have had a lot of success in the past.

I last told you about it in early June, when the stock was trading at $72.

Today, the stock is around $92… and I still think it is going higher!

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

My plan is to get started near the open today and buy both stock and options, hopefully near my target entry price, which I list below.

If this trade doesn’t work out for me, I will look at a closing price under $89 as my stop loss, which has been a key support level over the last couple of weeks.

If things work out as I hope, I would like to scale out of most of my position for a 30-50% gain.  

With the all-time high for CAVA hitting around $97 a couple of weeks ago, I think a break above that level again will propel the stock to $100, which is the target price I am aiming for.

If the all-time high is taken out again, then I think the stock could soon rise to $110+.

VST Options 6/17/24 near $2.60 – 3 days later $3.10 = 19% 

My Trade Plan Details:

• VST June 28 $90 calls near $2.60
  
• Stop: Close VST below $84
• Target 1: $95
• Target 2: $100

My Reasoning:

I don’t think I am ready to start betting against stocks, though. This is still a very strong market, and it should be easier to find stocks with a bullish upside ahead rather than trying to bet on breakdowns.

This week, I am going back to a stock I picked in April this year, and it performed really well.

It has been one of the strongest stocks in the entire market over the last year, and with a recent 20% pullback, I think it is showing signs of building strength once again.

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

I also had several “backup” ideas that were very close today I’ll share with you in the 11am session today in the Market Master’s Room – so make sure you’re there!

My plan is to get started near the open today and buy both stock and options, hopefully near my target entry price, which I list below.

If this trade doesn’t work out for me, I will look at a closing price under $84 as my stop loss, which has been a key support level over the last couple of weeks.

If this trade works as I hope, then I think we could see VST hit $95 as target #1 in the coming week and possibly even $100 before these options expire in 2 weeks.

During the day though, I would be very happy to secure gains of 30-50% on a bigger position, as usual.  If I can do that, I don’t mind holding a smaller size for a few more days and try to score larger gains. 

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Options up over 53% in just 3 days

CVNA Options 6/10/24 near $1.80 – 3 days later $2.76 = 53% 

My Trade Plan Details:

• CVNA June 21 $120 calls near $1.80
  
• Stop: Close CVNA below $105
• Target 1: $115
• Target 2: $125

My Reasoning:

I have had great success with this in the past, and it just got a fresh analyst upgrade this morning, which is helping boost the price a bit in pre-market trading (though I could care less about what analysts say!).

It has a great chart pattern right now and a very sizeable short position, which I think could help get it on the radar of many traders who are piling in stocks with “short squeeze” potential after seeing how GME has reacted lately.

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

My plan is to get started near the open today and buy both stock and options, hopefully near my target entry price I list below.

If this trade doesn’t work out for me, I will look at a closing price under $205 as my stop loss, which has been a key support level over the last couple of weeks.

If things go my way, I think CVNA could trade back up to $115 relatively soon, and $125 as target #2.  That would put it within spitting distance of a new all-time high as well, and I would not rule that out.

My goal is always to try to take a lot of my position off the table when I get to the 30-50% profit level. It doesn’t matter if it happens in minutes or days for me. 

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ELF options up icer 170% in just 1 day!

My Trade Plan Details:

• ELF June 21 $200 calls near $4.00
  
• Stop: Close ELF below $180
• Target 1: $195
• Target 2: $210

My Reasoning:

After a rocky end to last week, the markets had an epic final hour of trading on Friday, nearly erasing all of that day’s heavy losses.

It looks like the optimism is continuing into this week, but I am not convinced it will be smooth sailing.

Markets have been up nearly every Monday for quite some time now.  When is the last Monday you recall when it opened red?

That said, I have to give the benefit of the doubt to the bulls right now, and I will stay in “buy mode,” at least until the market tells me otherwise.

There are a lot of stocks on the verge of breakouts right now. I think that is a very healthy thing to see overall.

In fact, one of my favorite stocks has a great breakout setup that I really like right now.

I have picked this stock as a Bullseye pick a couple of times in the past, and I am looking forward to buying it again.

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

If this trade doesn’t work out for me, I will look at a closing price under $180 as my stop loss, which has been a key support level.

If things go my way, I think ELF could trade back up to $195 relatively soon, and if it can manage to break $200, then I think we could see a nice move to $210.

My goal is always to try to take a lot of my position off the table when I get to the 30-50% profit level. It doesn’t matter if it happens in minutes or days for me.

VKTX options up over 74% in just 3 days!

My Trade Plan Details:

• COIN June 7 $260 calls near $5.80
  
• Stop: Close COIN below $220
• Target 1: $250
• Target 2: $270
  

My Reasoning:

As we head into this week, I am pretty optimistic about the markets. Based on how well they are performing, I think another all-time high is right around the corner.

All of this enthusiasm tends to bleed over to crypto, which has been holding up remarkably well lately.

While I really don’t like this stock, it has grown on me lately, especially after their last earnings report.  

I think it is on the verge of another breakout soon, so I want to get back in today.

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

My plan is to get started near the open today and buy both stock and options, hopefully near my target entry price I list below.

COIN set a low of around $220 last week, after a surge from $200 the week before.  If the stock closes under that $220 level, I will use that as a stop loss and exit the trade.

If things go my way, I plan to take quick profits on the stock if I get ahead.  I always look to lock in at least (maybe even all) of my options if I can get a 30-50% profit the same day.

Over the next week or so, I think COIN has range up to $250 as my first target and possibly $270+ as the second level to watch.