A fishing lure, comprising: a solid body having a front head portion, a rear tail portion, a top back portion, and a bottom belly portion; a cavity recessed into an exterior surface of said solid body and having a bottom opening at a location extending between, and intermediately of, said bottom belly portion and said rear tail portion of said body, said cavity defined by a pair of opposing outer side walls, a pair of opposing inner side walls spaced inwardly from and offset above said pair of outer side walls, a pair of outer top walls extending between and interconnecting upper edges of said pair of outer side walls with lower edges of said pair of inner side walls, an inner top wall extending between and interconnecting upper edges of said pair of inner side walls, and a pair of opposing end walls located at opposite ends of said outer and inner side walls (144, 146) and said outer and inner top walls (148, 150); and a magnetic holder disposed in said cavity and assembled relative thereto to form a diametrically magnetized channel aligned with said bottom opening of said cavity for receiving and releasably retaining a shank portion of a metal fishing hook therein, said metal fishing hook having an end coupled to said bottom belly portion of said solid body, said magnetic holder comprising a pair of elongated side bars and an elongated top bar, wherein opposing inner side walls of said pair of elongated side bars and a bottom wall of said elongated top bar, together, define said diametrically magnetized channel, wherein bottom walls of said respective pair of elongated side bars are both interiorly recessed with said cavity of said solid body and exposed through said bottom opening of said solid body, and wherein when said shank portion of said metal fishing hook is received and releasably retained within said diametrically magnetized channel, said shank portion extends within said channel so as to displace a point on an opposite end of the metal hook downwardly and forwardly away from said cavity and thereby in a stinger position relative to said solid body. a solid body having a front head portion, a rear tail portion, a top back portion, and a bottom belly portion; a cavity recessed into an exterior surface of said solid body and having a bottom opening at a location extending between, and intermediately of, said bottom belly portion and said rear tail portion of said body, said cavity defined by a pair of opposing outer side walls, a pair of opposing inner side walls spaced inwardly from and offset above said pair of outer side walls, a pair of outer top walls extending between and interconnecting upper edges of said pair of outer side walls with lower edges of said pair of inner side walls, an inner top wall extending between and interconnecting upper edges of said pair of inner side walls, and a pair of opposing end walls located at opposite ends of said outer and inner side walls (144, 146) and said outer and inner top walls (148, 150); and a magnetic holder disposed in said cavity and assembled relative thereto to form a diametrically magnetized channel aligned with said bottom opening of said cavity for receiving and releasably retaining a shank portion of a metal fishing hook therein, said metal fishing hook having an end coupled to said bottom belly portion of said solid body, said magnetic holder comprising a pair of elongated side bars and an elongated top bar, wherein opposing inner side walls of said pair of elongated side bars and a bottom wall of said elongated top bar, together, define said diametrically magnetized channel, wherein bottom walls of said respective pair of elongated side bars are both interiorly recessed with said cavity of said solid body and exposed through said bottom opening of said solid body, and wherein when said shank portion of said metal fishing hook is received and releasably retained within said diametrically magnetized channel, said shank portion extends within said channel so as to displace a point on an opposite end of the metal hook downwardly and forwardly away from said cavity and thereby in a stinger position relative to said solid body.