Weekly Wiretap Pick Of The Week GDX

MAX Trade Potential: 225%

My Trade Plan Details:

• GDX March 21 $41 calls around $1.30s to $1.40s

• Stop: GDX closes below $38

• Target 1: $43s
  
• Target 2: $45s
  
  

My Reasoning:

GDX has been trading in a nice flag pattern over the last 2-3 months here with a possible breakout on the topside around $42s then $44 area and if markets continue to push lower I think there is a outside shot of high $40s coming for GDX. 

My plan here is to use the market downside for a short term possible upside on GDX. I think if this trade works it could work in 1-3 days but I really don’t want to hold this much longer than that.