We are coming off a very tricky week for the market.

The SPX and QQQ hit all-time highs on Wednesday, but turned down quickly.

And many growth names are getting hit hard -- Amazon (AMZN) and Palantir (PLTR) being two high-profile examples.

Therefore, this is time to be extra cautious and careful in selecting entries.

And we want to focus on special situations in names that can rally regardless of what happens in the broader markets.

If you look at all our Power Plays Options positions below, you can see that none of these are typical "markets" ideas. As in, they are not megacap tech names that will track the major indices.

Let's go through them one by one now:

GME 4/17 $36 Calls: the GME chart is building nicely and there's the potential for positive news like a move into crypto that could send the stock higher. This is a risky position but the reward potential is strong.

GRAB 2/28 $6 Calls: I added these calls for earnings but GRAB failed to deliver. GRAB is up nicely today but it will need a violent really to put these calls in the green.

NIO 3/7 $5 Calls: this is a super-speculative EV position I added three weeks ago. It got off to a rough start but NIO has recovered nicely and this position could turn into a winner.

MSOS 6/20 $4 Calls: this ETF can be super tricky to trade, but tends to have violent rallies a few times a year. So far it hasn't done anything, but we have until June for a rally to occur.

Have a wonderful weekend!

-Scott