DoorDash (DASH) looks set to lead the market higher, so I’m adding this position to Power Plays Options:

• Long DASH June 13 $210 Calls

These calls look good in the $3.60 to $4.10 area (or lower).

It was a good week for us as we closed out our NVDA, JD, GLD, and TSLL positions for wins. That made up for our decliners in XLE and MSOS.

The market has come a really long way off the April lows so we should not be surprised if there is a bit of a pullback.

There’s been a nice amount of good news lately (strong earnings season, falling inflation, trade deals) so the bar to ignite a new move up is big.

That’s why I’m short some SPY calls as a hedge. I want to make sure I’m balanced into what could be a tricky few days.

But there are opportunities because it’s such a stock-specific environment. Look at Netflix (NFLX) as an example.

Now let’s talk about our current names.

AAPL May 23 $215 Calls: Apple looked set to rebound and play catch-up but it’s been frustrating so far. David Tepper doubled his stake but so far the market doesn’t care yet.

XLE 6/30 $95 X $105 Call Spread: Unfortunately, this position has failed and is in the loss column.

MSOS 6/20 $4 Calls: MSOS occasionally shows signs of life but this sector is a mess. There was chatter this week about SAFE Banking potentially being on the way but it’s still not doing anything.

Have a great weekend!

-Scott