I may not introduce a new Power Plays stock idea this week, but I wanted to share an options play I just took myself.

• Long IWM February 2 $198.50 calls

These calls were recently trading around $1.65.

This is a play on the Fed potentially coming out more dovish than expected on the Wednesday rate announcement.

The small caps have been lagging this year, but if the Fed sends the right signal, IWM could rocket into Friday.

This is an all-or-nothing situation so I don't have a formal stop in.

And If IWM skyrockets after the Fed, I'd look to move fast to lock in profits.

-Scott