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

LULU options 12/27/24 near $5  –  1  day later $7.05 = 41%

My Reasoning:

This week, I am going after one of my favorite retail themes for the holiday season.  It was an “unloved” stock for most of the year until I pointed it out a couple of months ago as a strong rebound candidate under $300.

Well, now it is approaching $400 once again, and I still think it is a great opportunity.  The stock had a great earnings report a couple of weeks ago, and now it is starting to reverse back above the 20-hour moving average, which is a “buy signal” for me.

My plan is to get started near the open today and buy both stock and options, near my target entry price, which I list below.

If this trade doesn’t work out, I will use a stop with a closing price below $380.

If things go my way, I think we could see LULU could surge to $410, and possibly even to $420, which is target #2 for me.