COIN Calls – My Bullseye Pick of the Week - Bullseye Pick of the Week

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.