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

XLE options 11/29/24 near $1  –  4  days later $2.33 = 133%

My Reasoning:

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 $94. 

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 XLE could rally to $98, and possibly even shoot to $100, which is target #2 for me.

As always, I aim to lock in 30-50% on my trades and ensure I secure a winner when possible. If the trend holds up, I also want to let some positions ride for a bigger win.