Power Plays Options Weekly Roundup
December 13, 2024
By Scott Redler
Welcome to the second-ever Power Plays Options Weekly Roundup.
I want to again wish a warm welcome to everyone that joined the first class of Power Plays Options readers this month.
This week, the market successfully absorbed an in-line CPI report and a slightly hot PPI number.
There seems to be growing uncertainty over what the Fed will do next week (we could get a "hawkish cut"), but it's hard to argue with the price action.
For now I'd keep a close eye on SPY $602. As long as that holds, the market can stay in constructive shape.
Yes, the doom and gloom crowd will always be loud and proud, but successful traders focus on the only thing that pays: price
Now let's dig into our positions:
IBIT December 27 $58 X $61 Call Spread: Bitcoin has been consolidating around the $100,000 area, and looks ready to give us one more big move into year-end.
DASH December 27 $185 X $192.50 Call Spread: DASH has had a big move this year, and it's going through a consolidation phase. Obviously, I would prefer more aggressive near-term upside, but this name still has potential to rally into the December 27 expiration.
-Scott
About Power Plays Options
Thank you for joining Scott's first dedicated options service as one of our charter members.
Since PPO is an all-new service, we may adjust some aspects of the format and content in the coming weeks. But, the focus will remain on providing high quality ideas for you to consider.
Depending upon the name, Scott may not introduce a specific exit plan at the time of idea initiation. This is because options prices can move so far so fast, and Scott prioritizes flexibility.
However, if Power Plays removes an options idea (whether it's up or down), Scott will notify you with an alert.
