The market perked up noticeably this week as we got better-than-expected numbers in key earnings reports, like Google (GOOGL) and Netflix (NFLX).

We also saw a very positive reaction to Tesla's (TSLA) earnings miss, a sign that buyers are looking for opportunities.

The trade rhetoric seems to be softening in tone, though the news flow there remains unpredictable.

We are seeing much better action in key leaders like  Nvidia (NVDA), DoorDash (DASH) and Palantir (PLTR).

Also, you'll notice that gold has fallen hard from its highs. This might be a sign the market is anticipating actual trade deals instead of just the talks we keep hearing about.

Note: I'm bearish on gold in the near term and believe GLD will break below $300 next week, which of course is why we added GLD puts yesterday.

We're also seeing interesting action in the crypto space. Bitcoin seemed to decouple from traditional risk assets and then kept rallying along with those risk assets. So the trend is up there, benefiting our IBIT play which we exited early in the week.

Next week will be very busy with key economic data reports (especially the PCE Price Index next Wednesday) plus earnings from Meta (META), Microsoft (MSFT), Apple (AAPL), and Amazon (AMZN). I'll be looking closely for new Power Plays Options ideas as post-earnings setups emerge.

Now let's talk about our current names.

TTD 5/16 $55 Calls: TTD has been brutalized this year. When we added these calls Thursday, it was the worst QQQ stock this year. However, it looks ready to rebound into earnings and is already off to a decent start.

GLD 5/16 $300 Puts: I added these puts because I believe the gold rally is over. We took off 1/3 today. I expect GLD is break under $300 next week. If we get a real China deal, the downside in gold should accelerate big time to send these puts up huge. That's a big if, of course.

XLE 6/30 $95 X $105 Call Spread: Unfortunately, this position is not working and I'm not looking to double down, though XLE could hit the $85 area soon.

MSOS 6/20 $4 Calls: MSOS perked up this week, but it's got a long way to go before this position works. A meaningful piece of legislation around SAFE banking could change everything, but longs have been waiting forever for that.

-Scott