This Weeks Play is: IWM Calls

IWM options  near $3 –  2 days later $4.45 = 48%

My Trade Plan Details:

• IWM May 30 $207 calls in the low $3s
  
• Stop: IWM closes below $202
• Target 1: $209
  
• Target 2: $211
  
• Target 3: $215
  

This Weeks Play is WMT Calls

GDX options  near $1 (touched $1.02)  –  2 days later $2.55 = 140%

My Trade Plan Details:

• WMT May 16 $100 calls around $1.50 to $1.75
  
• Stop: WMT below $95 close or sell by Wednesday close
• Target 1: $102
  
• Target 2: $103 for gap closure
  
• Target 3: $105 for previous high test
  

This Weeks Play is: GDX Calls

GDX options  near $1 (touched $1.02)  –  2 days later $2.55 = 140%

My Trade Plan Details:

• GDX May 16 $49 calls around $.85 to $1
  
• Stop: GDX below $45 close
• Target 1: $49.80
  
• Target 2: $51
  
• Target 3: $53
  

This Weeks Play is: MCD Calls

MCD options  near $3.50  –  3 days later $5.74 = 64%

My Trade Plan Details:

• MCD May 2 $320 calls around $3.50 to $3.70
  
• Stop: MCD below $306 close
• Target 1: $320
  
• Target 2: $326
  
• Target 3: $330
  

My Bullseye pick this week is to buy (MSTR) call options.

MSTR calls near $7 – 5 days later $28 = %300

My Reasoning:

My Trade Plan Details:

• MSTR May 2 $350 calls near $7.00
  
• Stop: Closes MSTR below $310
• Target 1: $340
  
• Target 2: $360
  

This continues to be a very challenging time to be a trader right now.

It doesn’t matter if you are betting to the upside or downside, the market swings each day are very tough to manage.

I am being very nimble with my trading, and I have very little conviction in the markets right now.

This is not the ideal trading environment for me, so I continue to take small shots when I see opportunities I like, and take profits (or losses) very quickly.

I am mainly in cash, patiently waiting on the sidelines most days.

One of the interesting trends I’m currently observing is in the crypto space.

Surprisingly, Bitcoin has been very stable lately, and stocks in that sector have been steadily rising.

While I am not a big fan of the markets overall right now, I do see a bright spot in the crypto space, and I am cautiously wading into it.

My Bullseye pick this week is to buy (TEM) call options.

TEM calls near $2.30 –   8 days later $5.90  = 156%

My Reasoning:

My Trade Plan Details:

• TEM April 25 $47 calls near $2.30
  
• Stop: Closes TEM below $40
• Target 1: $48
  
• Target 2: $52
  

The market continues to be extremely volatile, but is showing signs of strength over the last few days.

I still expect stocks to bounce around a lot, but I think the worst is behind us.

If you are a brave soul, this market might present some excellent rebound opportunities if things continue to grind higher.

There are so many charts right now that are worthy of attention. I think it is very tempting to keep things simple and just buy QQQ on dips and sell into rallies.

One of my favorite setups right now is with a small AI company that is starting to break out of a nice consolidation phase.

If the stock can break past $45, I think there is a lot of upside ahead of it. 

My Bullseye pick this week is to buy (SVIX) stock.

SVIX stock near $12 –  1  days later $13.96  = 16%

My Reasoning:

This market continues to be extremely challenging to trade, especially if you are looking for idea to trade to the upside, like I am.

I’ve been pretty spot on the last few weeks with Bullseye ideas, and I hope this week will lead to another winner.

With the massive 3-day descent we’ve seen for the market, I think we are very close to at least a short-term bottom.

Even if things drift lower from here, the “panic” in the market could subside very quickly, and that will cause VIX (the volatility index) to start drop much lower from here.

If that happens, my top trade idea this week will profit very nicely.

Make a note that I am NOT planning to buy the options on SVIX this week, I am only looking to buy the stock (well, it is an ETF technically)

The main reason is that the options are very expensive right now because of insanely high implied volatility.  That doesn’t mean that the options won’t work out.  They certainly could lead to a massive win, if VIX starts to collapse this week.

I find it much easier to manage a large stock position instead, which is what I am planning to do.

I also plan to scale into this trade over the next few days if necessary, not all at once this morning.

My Bullseye pick this week is to buy (CELH) call options.

CELH calls near $1 –  9  days later $3.25  = 225%

My Reasoning:

My Trade Plan Details:

• CELH April 11 $35 calls near $1.00
  
• Stop: Closes CELH below $32
• Target 1: $38
  
• Target 2: $42
  

In fact, I have zero positions right now as I head into trading this week.  There was just nothing that looked great to me as Friday closed, so I figured I would just come to work 100% cash on Monday and get back to work.

Last week’s idea with TSLA worked out phenomenally, if you watched that one.

The options made a move of more than 250% a few days after I alerted them, something that was very rare.

This week, there are not many great-looking setups to the long side, and I don’t really want to hold short trades overnight right now either (though I wish I did over the weekend!)

One of the best-looking stocks I see right now is an early-stage recovery, and one of my favorite stocks from the past.

My Bullseye pick this week is to buy (TSLA) call options.

TSLA Calls near $6.50 –   4 days later $24.10  = 270%

My Reasoning:

My Trade Plan Details:

• TSLA April 4 $275 calls near $6.50
  
• Stop: Closes TSLA below $240
• Target 1: $280
  
• Target 2: $300
  

QQQ is trading well above $480 now, which I consider to be a crucial breakout level.  I think this could carry all stocks for a while.

One of the most beat-up stocks out there is former darling, Tesla.

Headlines everywhere show public outrage against the company, and I even have seen Reddit groups trying to organize “plots to bring down the company” by collectively buying massive amounts of far out-of-the-money puts.

Good luck with that kids, lol.

If you understood option mechanics, they would know they are only fueling more buying on the upside.

When I see the market re-start a rally, I like to go after the names that have been most beaten up, yet still have the chance to make moves again.

I think TSLA fits the bill perfectly right now.

My Bullseye pick this week is to buy (PLTR) call options.

PLTR Calls near $2.40 –  7  days later $4.60 = 91 %

My Reasoning:

My Trade Plan Details:

• PLTR Mar 28 $95 calls near $2.40
  
• Stop: Closes PLTR below $83
• Target 1: $95
  
• Target 2: $105
  

I didn’t have high hopes for the market last week, and sadly, that proved to be the correct call.  

Even with a HUGE rally on Friday, the markets still ended the week significantly lower.

I was on vacation and didn’t trade much during the week.  It was a much-needed time for me to relax and reset after this very tough year of trading.

While I still don’t trust the markets much overnight right now, I am somewhat optimistic that we can have a positive week overall.  

So many of the tech stock charts I look at are suggesting higher moves. I would be shocked to see new lows for the year (this week, at least) unless there is some new news out of the blue.

With so many great-looking rebound charts out there, I am especially drawn to PLTR, which has been fighting in the $80-90 range for around three weeks now.

I think if the stock can finally close above $90, we could see a nice move higher.