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

My Trade Plan Details:

  • COIN Mar 15 $185 calls near $5.80
  • Stop: Close COIN below $162
  • Target 1: $182
  • Target 2: $195

Options up over 1200% in just 10 days

My Reasoning:

This week, I am generally bullish on the market.  I know we have had a big run again, and the market is digesting those gains at elevated levels, but I just don’t see a lot of charts breaking down in the various sectors and important stocks I look at.

I am not super confident this will be a big week of gains for the market, though.  I expect another choppy market, though I think it will drift higher.

One sector that is looking like a potential breakout to me right now is crypto.

You know, I am not a huge fan of crypto stocks in general, but when a sector is hot, I want to ride the trend. 

While I really don’t like this company, I really like the chart setup right now.

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

I plan today to open a starting position with the calls I detail below, hopefully somewhere near my target price. 

This will be a half-sized position for me, as I want to save room to add to this around $164 if COIN decides to trade there over the next few days.

If I am wrong, and this trade doesn’t work out, I am going to keep a very tight stop on this trade and use a closing price under $162 as my stop loss.

If things go my way, I think COIN could rally over $180 soon, so somewhere around $182 makes sense as target #1 and then around $195 as target #2.