The market needs time to repair the drop from Thursday and Friday. While going through my screens this weekend, my biggest takeaway is that stocks need time to allow for the volatility to calm down and to provide for safer entry points. It’s probably best to keep positions light until we get more clarity. One thing I want to stress is do not get too bearish or too negative on this market. It is very resilient and I am still bullish into the election for the reasons I’ve outlined in many videos over the past month. Also, all the major indexes and leading Mega Cap stocks held their 10-week moving averages this week. Many even closed above their 21-day EMA. I simply think stocks need time to consolidate and it’s best to wait for safer entry points. If you have any questions about this, you can ask them during the next webinar on Monday, September 7th at 7PM EST. Enjoy the long weekend!

Unusual Option Activity:
9/4/20 Crowd-Strike (CRWD) with over 2400 June 2021 $95 puts sold today from $13.95 to $12.85
9/4/20 DocuSign (DOCU) opening sales of 2,500 March $120 puts for $5.55 to $5.50, shares holding the 50-MA today
9/4/20 Pinterest (PINS) buyer of the December $35 calls here 8400X for $5.82 as the November $40 calls adjust
9/4/20 Facebook (FB) buyers of 2,000 September 2022 $440 calls for $25.75 this morning, over $5M
9/4/20 Salesforce (CRM) with 1,000 December $260/$310 call spreads bought today for $15.05
9/4/20 Netflix (NFLX) with 5,000 ITM January $390 calls opening $127.50, shares right into the 50-MA today
9/4/20 Netflix (NFLX) also the January $520/$630 call spread being bought 1500X
9/4/20 DataDog (DDOG) buyer of 12,600 November $80 calls for $10.20, adjusting back the $85 calls
9/4/20 Adobe (ADBE) the October $500/$600 call spread being bought 1,000X to open into weakness today, paying $30.37, earnings on 9-15
9/4/20 Adobe (ADBE) also seeing the December $500/$600 call spread bought 1250X today for $33.45
9/4/20 Nvidia (NVDA) over 1,200 December $500 calls being bought this morning from $79.30 to $86.50
9/3/20 Taiwan Semi (TSM) with 2,000 April $75 puts sold to open today for $9.40 in a stock replacement, size April call buys yesterday and holding up well today
9/3/20 Amazon (AMZN) the June $4000/$4600 call spread being bought another 600X1200 today
9/3/20 Nvidia (NVDA) buyer of the March $740/$860 call spread 1350X for $14.25
9/3/20 Nvidia (NVDA) also seeing 1250 March $465 puts sold for $58.70 in stock replacements
9/3/20 Fastly (FSLY) the December $85/$75 put spread bought 1250X2500 today for a $2.20 credit, likely protective on stock and willing to buy more lower
9/3/20 Advanced Micro Devices (AMD) with 1,000 January 2022 $75 puts sold to open for $19 this morning
9/3/20 Z-Scaler (ZS) with 1,000 November $145 puts sold to open today for $19.20 to $20.40
9/3/20 Facebook (FB) with the November $295/$340 call spread bought 35,000X for $14.30, adjusting higher the $250/$275 spread
9/3/20 DataDog (DDOG) now also seeing IV rise as 5800 November $85 calls bought up to $7.90
9/3/20 Square (SQ) with near 5,000 October $125/$115 bull put spreads opening this morning for $1.59
9/3/20 Zoom Video (ZM) seeing 3,500 January 2022 $115 calls bought $286.90 to $292.30, adjusting the January 2021 $110 calls
9/3/20 Zoom Video (ZM) also another 1,000 January $190 puts sold to open for $5

Topics covered:
1) 0:00 Announcements
2) 1:00 Market Commentary
3) 11:00 Index Review (Nasdaq Composite, S&P 500, Russell 2000)
4) 17:00 Stock Review – Mega Caps: AMZN, NFLX, MSFT, ADBE, FB, GOOGL, CRM, AAPL, QQQ (ETF)
5) 23:00 Stock Review – Software: DOCU, COUP, VEEV, OKTA, CRWD, FSLY, DDOG, TWLO, NOW, BAND, FVRR, SAIL
6) 29:30 General Ideas/Commentary: CRNC, IRTC, MRVL, BRP, OESX, OTRK, PENN, WKHS, Z, BABA, JD, REGI, TSM, CHGG, DXCM, V, MA, SHOP
7) 37:00 Focus List – AMZN, TSLA, MSFT, NVDA, Z, AAPL, QQQ (ETF)
8) 38:55 Conclusion/Summary