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

SHOP options 12/06/24 near $1.80  –  9  days later $8.50 = 372%

My Reasoning:

This week, I am headed back into tech stocks.  QQQ is looking very strong after getting through a lot of choppiness following the NVDA earnings report last week.

There are a lot of stocks that I think make great candidates right now to buy, but I am going with a stock with a great-looking breakout on the hourly chart and the benefit of “seasonality” in its favor.  This stock tends too do well in the weeks leading up too Christmas, and I am hoping the same happens this year as well.

My plan is to get started near the open today and buy both stock and options, hopefully 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 $105. 

Remember, puts are a bet that a stock will go lower, so my stop loss on the trade will be if the stock gets above a certain level, not below it.

If things go my way, I think we could see SHOP could rally to $112, and possibly even shoot to $118, which is target #2 for me.