My Trade Plan Details:

• AMD Jan 19, 2024 $145 calls near $1.65
• Stop: Close under $136
• Target 1: $144
• Target 2: $146

AMD options up over 1350% in just 9 days!

My Reasoning:

One of the strongest sectors that looks like it will lead the market higher is semiconductors.

It is tempting to go with NVDA when you want to trade semis, but I think that stock has already made a significant move from the lows.  It will probably still go higher, but I think there are other strong stocks that can make a bigger percentage move this week.

It’s a big list, but based on implied volatility and option liquidity, I am going to go with…

My Bullseye pick this week is to buy (AMD) calls.

I am generally bullish this week. I don’t think this market is going to suffer another loss like last week.  Buyers seem to be returning, and I think it will carry us higher for a while.