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

Options up over 120% in just 5 days

My Trade Plan Details:

  • CPNG May 3 $23 calls near $.30
  • Stop: Close CPNG below $21.50
  • Target 1: $23
  • Target 2: $24.50

My Reasoning:

Instead of trying to pick the bottom on stocks, I want to stick with trends that have been moving up even in the face of a bad market.

That is exactly where I landed this week – a very strong, uptrending stock with great institutional ownership.

My Bullseye pick that I want to buy this week is (CPNG) calls.

My plan is to get started with a half-sized position on CPNG this morning somewhere near my target entry price below.

Then, I’d like to add to this tomorrow or Wednesday, if the stock is flat or lower, but still above my stop loss price of $21.50 for the stock.  Remember, I am always looking at closing prices, not intraday.

If things go in my favor, I think CPNG could be headed for $23, and even $25 as target #2.  That would provide a very good return if that happens.