VKTX options up over 74% in just 3 days!

My Trade Plan Details:

• VKTX May 24 $80 calls near $2.70
  
• Stop: Close VKTX below $70
• Target 1: $80
• Target 2: $85
  

My Reasoning:

This week, I am straying away from what I would call a “perfect setup” on the price chart.

I am going more with my gut on this trade. I have been following this stock closely for the last six months, and I have had pretty good results with it. In fact, it is the stock I have booked the most profits on this whole year!

I am hoping to add to it today as well.

This is a stock that is trying to become a leader in the “fat loss” space, which is basically owned by NVO and LLY right now (I love those stocks too, btw)

I have a lot to discuss regarding this stock in our live session at 11 a.m. today, so make sure you join me for that.

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

My plan is to get started with both calls (hopefully near the target price below) and also VKTX stock near the open.

I will be looking at a closing price under $70 for my stop loss on this one. That has been the recent support level, so I need to respect that if it breaks again.

If the stock moves higher today, I plan to scale out of some (possibly all) of my positions into strength.

This is one of my favorite stocks, and I hope to hold at least a portion of the contracts for a multi-day run, if it works out.

I think $80 is a good upside target (it traded at that level a lot last week), and then somewhere above $85 as target #2 if things really start to move.