My Trade Plan Details:

• ERX Mar 28 $63 calls near $1.40
  
• Stop: Close ERX below $59
  
• Target 1: $65
• Target 2: $68
  

Options up over 470% in just 14 days!

My Reasoning:

This week, I am expecting the market to be very choppy and probably move lower as the week moves on.

With VIX elevated right now, I think the market is rotating toward “safe havens.”  

You can see this with gold prices skyrocketing lately, and dare I say… even Bitcoin is considered “safe” right now?

Oil stocks are a sector that has been in a “stealth rally” lately, and I don’t hear a lot of people talking about it, yet at least.

That is where I am looking to put my money to work this week.  The chart is great and there are a lot of reasons to love it right now.

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

My plan today for ERX is to try and pick up some options near my target entry price.  You never know exactly where the price will be at the market open.

Then, I’d like to add to the position if ERX trades down to around $60.70.

If the stock looks like it will close under $59, then I will use that as a stop loss and look to exit the trade.

If this rally continues, I will be looking at $65 as my first profit target, and possibly $68 as target #2.