Bitcoin slammed higher yesterday and is over $117,000 this morning, so I'm taking this action for Power Plays Options

• Trim 1/3 of the IBIT 8/8 $62 Calls (leaving us with 1/3)

This move came way faster than I expected and gives us a nice gain to close the week.

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The market is looking lower to close the week, but thankfully, we've been focused on things that are working - namely Bitcoin and Biotech.

We've also had good results with big tech names like Apple (AAPL), Alphabet (GOOGL) and Amazon (AMZN), though our Tesla (TSLA) and Nebius Group (NBIS) positions go in the loss column on the close today.

The big news is the President escalating the tariff fight with Canada, and threatening to raise baseline tariffs on trading partners.

But all things considered, US markets are holding in fairly well.

We've come an awfully long way from the March-April lows, so a little digestion is to be expected.

Next week, we have the US CPI and PPI reports, plus a bunch of earnings reports from the banks.

So I'll be hunting for new opportunities.

Now let’s talk about our current names:

IBIT 8/8 $62 Calls: I added these calls Wednesday because I expected a rally, and it's come way faster than expected. We are down to 1/3 which I'll let ride for now.

XBI 7/25 $86 Calls: Biotech finally woke up and our calls are off to a good start. I'd only add on weakness though.

ACHR 7/18 $11 Calls: This name took longer than I wanted to get going, but it got a lift near-term on positive drone news from the US government. ACHR is not a drone name, but often moves in sympathy with that group. And for now, this position is slightly in the green. If it shoots up today, I may look to take profits so keep an eye out for possible alerts.

TSLA 7/11 $360 Calls & NBIS 7/11 $55 Calls: these positions did not work and will expire worthless today.

Have a good weekend!

-Scott