Before we start, I'm going to take off two positions:

The first is the GME 4/17 $36 Calls. We put this on in a better market, and I don't see this stock getting to $36+ anytime soon. Earnings are Tuesday. If you really want to be involved, you can look at $30 calls. I'm not looking to be in for that.

Next, I'll take off the second half of the PDD 3/28 $135 Calls because there isn't much chance of this rebounding fast the way it needs to.

The market is in a tricky situation because there are a lot of valid questions about the economy, plus we are headed into a week of big economic news (PCE Price Index, GDP, etc.).

And of course the big April 2 tariff headline looms overhead.

The challenge in this market is there is no real follow-through.

The moves are fast, and they revert back just as fast.

That's why I've been sticking with special situations and "non-market" names that don't necessarily the entire market to rally.

Still, it's been tough out there so I'm treading carefully.

Now is a time to have more cash so you have powder dry for buys into weakness.

Ultimately, I do not think the 2025 lows are in.

That doesn't mean we collapse right here and now, but the market is going to have a bigger dip at some point.

The average SPX pullback is 14%, and it's been a long time since we had one of those.

Keep that in mind as you size positions and assess your overall market exposure.

Now let's talk about our current names.

IBIT 4/4 $49 Calls: this joined Power Plays Options this week as a way to benefit from a Bitcoin resurgence. It's holding up decently so far, but not enough to put this in the green.

BABA 4/11 $145 Calls + BABA 4/11 $145 X $150 Call Spread: BABA has struggled a bit since losing the $145 level, but I'm still optimistic we have enough time for these positions to work.

MSOS 6/20 $4 Calls: we haven't gotten any news to drive up the cannabis sector, so this position has done poorly. However, we have 3 months to expiration.

Have a great weekend! You earned it.

-Scott