Over the past 2-3 months, almost every night I screen, I find at least 5-10 setups. Many of them are working out and that is a sign of a healthy market. In the beginning of this video, I discuss two similarities to 1999: Liquidity and the consistent setups I’m finding. Also, I am noticing how stocks in other sectors (besides software, medical, semis, etc.) are showing up on my screens, which could be a good sign that this rally is broadening out. Some examples include MTH (Homebuilder), BLK (Financial), and LOW (Retail). Overall, I suggest focusing on price and ignoring the news. The S&P 500 could be forming a cup with handle and might be ready to break out of its recent range soon (approximately 3000-3200). I will continue to monitor the market’s day to day price action and look for any possible warning signs. As always, when they show up or I reduce my exposure, I will let you know. Good luck for the remainder of the week.

Unusual Option Activity:
7/8/20 Mongo-db (MDB) buyers of 625 July $245 calls for $3.30 to $3.70, name setting up just below new highs for the year
7/8/20 Z-Scaler (ZS) opening seller 300 February $90 puts $7.85
7/8/20 Twilio (TWLO) with 5,000 October $210 calls bought for $47.85, sizable buy in a name hitting new highs today
7/8/20 Crowd-Strike (CRWD) with 500 October $97.50 puts sold to open for $7.90 to $7.60
7/7/20 DataDog DDOG seeing 1000 Aug $120 calls bought today $1.70
7/7/20 EverQuote (EVER) sitting just under a new high breakout seeing 1500 July $65 calls bought to open
7/7/20 Crowd-Strike (CRWD) with 300 June 2021 $155 calls opening $9.70 in a buy-write
7/7/20 Alteryx (AYX) buyer 350 August $175 calls $16.75 offer
7/7/20 DexCom (DXCM) buyer 200 August $430/$460 call spreads today
7/7/20 Amazon (AMZN) 200 October $3300 calls open $140
7/7/20 Zillow (Z) with 500 Aug. 14th (W) $65 calls bought $5 to open
7/7/20 Netflix (NFLX) $20M position opens with 2,280 June 2021 $490 calls as the January $450 adjust
7/7/20 NVIDIA (NVDA) buyers active for 1800 September $420 calls $23 to $24
7/6/20 Amazon (AMZN) more bullish call rolls with 1000 of the August $2820 moving to $3000

Topics covered:
1) 0:00 Announcements
2) 1:20 Comparisons to 1999 – Liquidity and consistent setups
3) 7:55 Index Review – Nasdaq Composite and S&P 500
4) 9:50 Stock Review – CRNC, MTH, BLK, AXSM, NBIX, IBB, XBI, DXCM, EVER, SHOP, Z, BTAI, DDOG, CGEN, IDYA, STMP, BOX, CRM, DT, FB, FICO, FLGT, KLAC, IPHI, QRVO, POWI, SMH, LOW, CRWD
5) Current Setups – CRNC, Z, EVER, STMP, DT
6) 21:45 Conclusion/Summary