Weekly Wiretap Pick Of The Week IWM

MAX Trade Potential: 220%

My Trade Plan Details:

• IWM June 30 $210 calls around $2.25 to $2.40

• Stop: IWM breaks below $205

• Target 1: $211
  
• Target 2: $214
  
• Target 3: $216
  

My Reasoning:

1. Overall medium term oil price weakness

2. Broader Market Rotation

3. Fed Uncertainty + Inflation

Weekly Wiretap Pick Of The Week XLE

MAX Trade Potential: 47%

My Trade Plan Details:

• XLE June 20 $90 puts $2.20 to $2.40 (more closer to open)
• Stop: XLE breaks above $91
• Target 1: $87
  
• Target 2: $86
  
• Target 3: $84
  

My Reasoning:

1. Overall medium term oil price weakness

2. Broader Market Rotation

3. Fed Uncertainty + Inflation

Weekly Wiretap Pick Of The Week NVDA

MAX Trade Potential: 57%

My Trade Plan Details:

• NVDA June 20 $145 Calls around $2.00 to 2.40
• Stop: NVDA closes below $135
• Target 1: $145
  
• Target 2: $148
  
• Target 3: $153
  

My Reasoning:

1. Bullish technical breakout & sector momentum.

2. Heavy institutional and retail options flow.

3. Post-earnings clarity with robust fundamentals.

Weekly Wiretap Pick Of The Week AVGO

MAX Trade Potential: 190%

My Trade Plan Details:

• AVGO June 6 $250 Calls around $4.50 to $5
  

• Stop: AVGO closes below $235

• Target 1: $245
  
• Target 2: $248
  
• Target 3: $250
  

My Reasoning:

From a charting perspective AVGO is in a long ascending triangle pattern with a major breakout around $250 that could potentially shoot this idea much higher. I like a stop around $230 and a target of $250s right now. I would like to see if I can get into AVGO here on a dip this morning if markets fade on PMI. If we jump, then I’ll adjust but please note I will only ALERT you if I do indeed BUY the options. If no alert then that means I have not bought the options yet.

Weekly Wiretap Pick Of The Week IWM

MAX Trade Potential: 48%

My Trade Plan Details:

• IWM May 30 $207 calls in the low $3s
  
• Stop: IWM closes below $202
• Target 1: $209
  
• Target 2: $211
  
• Target 3: $215
  

My Reasoning:

From a charting perspective I like the IWM here as it was approaching the 200 SMA last week around $215 and while we have a bit to go still I like the excitement building around a possible June rate cut which could propel the IWM higher. This mornings dip could be a nice buying opportunity for me and I will remain bullish as long as the IWM stays above $200 to $202 range.

Weekly Wiretap Pick Of The Week WMT

MAX Trade Potential: 2%

My Trade Plan Details:

• WMTMay 16 $100 calls around $1.50 to $1.75

• Stop: WMT below $95 close or sell by Wednesday close

• Target 1: $102
  
• Target 2: $103 for gap closure
  
• Target 3: $105 for previous high test
  

My Reasoning:

From a charting perspective I am watching a key breakout of a double top at $99s. Over this level and I see range to $105 area with a gap to $103 right before that last high from February. Must hold support is now at the 20 SMA at $95. 

Weekly Wiretap Pick Of The Week MCD

MAX Trade Potential: 48%

My Trade Plan Details:

• MCD May 2 $320 calls around $3.50 to $3.70

• Stop: MCD below $306 close

• Target 1: $320
  
• Target 2: $326
  
• Target 3: $330
  

My Reasoning:

Chart wise MCD is forming a nice wedge pattern here with a range to mid $320s and possibly higher if we breakout on earnings. Now, to be CLEAR, I will NOT be holding MCD into earnings which are on Thursday BEFORE the open so I will be out of this trade at the very latest by Wednesday afternoon, win or lose. 

Weekly Wiretap Pick Of The Week IWM

MAX Trade Potential: 127%

My Trade Plan Details:

• IWM April 25 $180 Puts around $1 to $1.1`5 area

• Stop: IWM Close above $189

• Target 1: $182
  
• Target 2: $175
  
• Target 3: $171
  

My Reasoning:

With tariffs and global uncertainty just dominating the markets I don’t see the Fed cutting rates any time soon even though Trump wants him to. I think this will lead to a continued fall on the IWM and just markets in general for a little while. 

Right now I am watching IWM to retest the $182 area and possibly take a retest of the $171 area previous low. What I’ll be looking for today is a small rally back up toward $185s to $186 and then look for April 25, $180 puts which should be pretty inexpensive but have a nice return if IWM tumbles toward $182 today or tomorrow. 

Weekly Wiretap Pick Of The Week WMT

MAX Trade Potential: 75%

My Trade Plan Details:

• WMT April 25 $94 calls around $1.80 to $2

• Stop: WMT Close below $88

• Target 1: $99
  
• Target 2: $104
  
• Target 3: $108
  

My Reasoning:

Last week we saw WMT run from $79 low to $92 area close, right at the 50 SMA. A breakout over this level and WMT has range now to $99 area before a possible gap to $104 from late February. 

For the downside, I am watching the $88 area as a must hold for this week on WMT, that should be about where the 20 SMA sits come Monday or Tuesday so I’ll use this as my stop. 

Weekly Wiretap Pick Of The Week MARA

MAX Trade Potential: 66%

My Trade Plan Details:

• MARA April 17 $9 calls around $1.60 to $1.80 area

• Stop: MARA Close below $8

• Target 1: $11
  
• Target 2: $12
  
• Target 3: $14
  

My Reasoning:

Last week I think was a great week to look at MARA puts with the markets just starting to dive and bitcoin getting crushed, this week I think markets will find a bottom and I think bitcoin will find a dead cat bounce, which I think will go well for MARA.

We talked last week how MARA had open range back down to $9 or maybe even high $8s before hitting any bigger support levels. This morning MARA fell to $9.50 and has since bounced.