One plot idea could be Peter trying to hide his true identity as Loki's son from his friends at school, especially Ned and MJ. He's worried about how they'll react to his godly heritage. Meanwhile, Loki is teaching Peter some of his magic tricks in secret, which Peter then has to figure out how to use in his superhero battles without giving away his connection to Loki.
Another idea is that Loki's enemies find out about Peter being his son and try to use Peter as a bargaining chip. Peter has to rely on his spider - powers and the little magic he's learned from Loki to escape and then team up with Loki to take down these enemies. This could also involve Peter learning more about his father's past and the Asgardian world.