ARK Innovations ETF.  (ARKK)

Original Alert went out on February 07, 2022.

ARKK is going to be a pretty straight-forward play for me.

I am not going to be a hero and try to guess what is going to happen with the overall market, just solely focus on this one trade.

That being said, I want to set my stop on the trade if ARKK closes below $69.  Otherwise, I am setting my profit targets at $77 and just shy of $80.

If you notice the option contract I am going with this week, you will notice that it is 3 weeks to expiration, not 2 weeks as I have been targeting lately.  This is because I want to give this trade extra time to work out if that is what it takes.

How did the options do?

And looking at the options chart, you can see the options went from $5 to $7!

Not such a bad move here compared to the stock so this is why I’m always looking for opportunities in the markets to take options trades each week

ARKK – Bullseye Pick Of The Week

Good Morning, Traders!

Right now we are far from smooth sailing in the markets.  

With the VIX at panic levels and investors fretting over interest rates, inflation, and the Ukraine situation – the markets are very choppy

All of this uncertainty has pushed many traders to sell positions at huge losses so far this year…

But is there an opportunity in the markets right now?

Of course there is!

Current Market Outlook:

Last week was another wreck for the market, yet my Bullseye idea for MARA turned out to be a huge winner if you watched that all week.  

This is a great time to be very selective, approach trades with a good gameplan, and then execute it.

This week, I am targeting ARKK, which is honestly one of my least favorite stocks (ok, it is an ETF) to trade. 

Sometimes, even the worst stocks are bound to go up and I feel like we are at that moment for ARKK, which is despised by almost everyone on Wall Street as shown by the record amount of shares sold short right now (source found here).

ARKK

ARKK is going to be a pretty straight-forward play for me. 

I am not going to be a hero and try to guess what is going to happen with the overall market, just solely focus on this one trade.  

That being said, I want to set my stop on the trade if ARKK closes below $69.  Otherwise, I am setting my profit targets at $77 and just shy of $80.  

If you notice the option contract I am going with this week, you will notice that it is 3 weeks to expiration, not 2 weeks as I have been targeting lately.  This is because I want to give this trade extra time to work out if that is what it takes

To YOUR Success!