As I’ve mentioned in many videos, whenever there are mixed signals in the market, I will always lean towards the defensive side until we get a clearer picture for two main reasons: 1) The best traders throughout history always preach defense and 2) I will always look to protect members whenever there are potential warning signs. While I didn’t expect any severe downside this week, I also didn’t expect the surge we saw over the past 3 days. From here, it’s great to see the major indexes back above their 50-day moving averages, but I think many stocks need time to build handles and provide us with better entry points. Some digestion over the next few days would be healthy to see. Also, the market still needs to get through Thursday’s Fed meeting, Friday’s Jobs report, hundreds of earnings reports, and of course we need clarity on the election winner. Until then, I am keeping my positions light and patiently waiting for stronger entry points. I am currently 35% invested and will be looking to increase exposure if we can consolidate well over the next few days. I received many email questions today so I decided to add a bonus webinar tomorrow, Thursday, November 5th at 7:30PM EST. This will give members the opportunity to ask questions ahead of the weekend. Thank you!

Unusual Option Activity:
11/4/20 Sail Point (SAIL) late buy of 3650 Dec. $50/$65 call spreads for $2.65, name been seeing a lot of bull flow
11/4/20 Invitae (NVTA) with 2000 January 2023 $35 calls opening $19.70 to $19.85 as June 2022 $7.5 calls adjust
11/4/20 Square (SQ) with 2,000 January 2023 $140 calls being bought for $65.80 today, adjusting the September 2022 $90 calls
11/4/20 Snap (SNAP) Nov. 13th (W) IV rising this afternoon with buyer sof 12,000 of the $45 calls $0.49 to $0.60
11/4/20 Arcturus (ARCT) IV rising this afternoon with another 990 November $60 calls bought $5.60 to $5.80, look to add to open interest
11/4/20 Ultra-Nasdaq (TQQQ) 1000 January 2022 $255 calls bought $13 to $14 to open with it trading $140
11/4/20 CrowdStrike (CRWD) afternoon action with opening sales of 1225 January 2022 $115 puts near $19
11/4/20 CrowdStrike (CRWD) today also seeing Dec. $100/$97.5 put spreads sold 2900X to buy the upside $170 calls
11/4/20 JD.com (JD) buyer of 1,000 January 2022 $90 calls for $16.80 into the breakout move, earnings and Single’s Day upcoming this month
11/4/20 JD.com (JD) with 7000 January $90 calls being bought as some of those Dec. $80 adjust
11/4/20 Alphabet (GOOGL) with 1,500 January $1,740 calls bought for $100 to open
11/4/20 Intuitive Surgical (ISRG) with 500 January 2023 $540 calls bought for $248.02 as the Jan. 2022 calls adjust
11/4/20 Zillow (Z) buyer 1100 Nov $105/$115 call spreads into earnings
11/4/20 Apple (AAPL) buyers 5000 Nov. 27th (W) $109/$119 call spreads
11/4/20 Facebook (FB) block of 1000 January 2023 $280 calls opens $66.88 as June 2022 adjust
11/4/20 Facebook (FB) also with the January 2023 $240 calls opening 1250X for $86.34 as the September 2022 $240 calls adjust
11/4/20 Tesla (TSLA) with 3500 Jan. 2023 $500 calls opening a $50M position as September 2022 started to adjust, similar to strategies across a number of leaders on 11/4.
11/3/20 Service Now (NOW) with 495 May $310 puts sold to open for $8.40 to $8.10
11/3/20 ARKK Innovation ETF (ARKK) with some March calls closing today and adjusting out to buy 1,000 Jan. 2023 $50 calls for $47.45 and 1,000 Jan. 2023 $70 calls for $35.62, top holdings include TSLA, NVTA, SQ, ROKU, CRSP, TDOC, TREE, TWOU, WORK, and Z
11/3/20 Arcturus (ARCT) with 1,100 November $70 calls bought today for $1.59 and spread with sales of the December $85 calls for $1.68, similar to spreads bought on Friday
11/3/20 Splunk (SPLK) spread sells 100 December $180 puts and buys the $200/$230 call spreads
11/3/20 CrowdStrike (CRWD) day highs working off support and 300 January 2022 $110 puts are sold to open $19.65
11/3/20 S&P 500 ETF (SPY) big opening buyer came in just after 2pm for 4000 February $340 calls $15.78 to $15.85, around $6M
11/3/20 NASDAQ 100 ETF (QQQ) buyer 1000 Dec. 4th (W) $273 calls ITM to open $12.97 today, also opening sellers 1500 February $270 puts, buyers of 2000 March $273 puts $19.70, and 3600 January 2023 $340/$260 bull risk reversals opening
11/3/20 Lam Research (LRCX) with 1640 deep ITM July $175 calls bought this morning from $186 to $196, a more than $30M trade
11/3/20 Skyworks (SWKS) opening sale 200 Jan. 2022 $140 puts for $26.50
11/3/20 PayPal (PYPL) into weakness with 1200 weekly $177.50 calls bought $5.15
11/2/20 Apple (AAPL) trade bought 3000 June 2022 $115 calls $17.20 to $17.40 in stock replacements spread versus 6000 of the $175 calls
11/2/20 Amazon (AMZN) late day spread bought 680 January 2022 $3900 calls and sold 1,360 of the $4650 calls at a small debit
11/2/20 Advanced Micro (AMD) opening seller 1750 January 2022 $67.50 puts $12.25 to $12.20
11/2/20 Align Technology (ALGN) strong after its post-earnings consolidation from a massive move and saw 100 January $470 ITM puts selling to open $51.50 to $45.50
11/2/20 Pinterest (PINS) afternoon buyers of 5,500 November $59 calls up to $2.91
11/2/20 Tesla (TSLA) size buyers of 6950 December $450 calls today including an interesting spread of 4500 bought versus selling March $560 calls
11/2/20 NASDAQ 100 ETF (QQQ) back near 21-week MA support seeing some size positioning buying 17,000 March $300 calls for around $15M while selling the $215 puts to open for around $11M
11/2/20 DataDog (DDOG) opening sellers 400 April $80 puts $11.10
11/2/20 Amazon (AMZN) Dec. 11th (W) $3000 calls active with opening buys as 1335X are trading near $179
11/2/20 Atlassian (TEAM) with 6,600 November $165 puts sold to open here from $1.85 to $1.70, follows some size call buying last week
11/2/20 DocuSign (DOCU) with 5,300 November $160 puts being sold to open today for $0.88 to $0.78, similar to GPN, TEAM, COUP
11/2/20 Shopify (SHOP) into weakness today seeing opening sales of 1720 November $785 puts down to $6.70
11/2/20 Square (SQ) with 2,400 November 27th (W) $165 calls bought this morning between $9 and $9.50 into the current pullback
11/2/20 Facebook (FB) November 13th (W) $300 far OTM calls hot this morning 4500X bought
11/2/20 Apple (AAPL) similar to Facebook with Nov. 13th (W) $110 calls actively bought $3.20 offers and trading over 6000X early
11/2/20 Amazon (AMZN) early action selling 725 Dec. 4th (W) $3100 puts to open $188 to $185 for around $14M in premium
11/2/20 ThermoFisher (TMO) with the Dec. $480 calls opening 950X for $26.05 as the Nov. $440 calls bought on 10/12 adjust higher and out

Topics covered:
1) 0:00 Announcements
2) 0:40 Market Commentary and Index Review (Nasdaq Composite, S&P 500, and Russell 2000)
3) 14:35 Relative Strength Discussion – TWLO, BL, FIVN, NOW, NET, ZEN, JD, BABA, PDD, YY, ARCT, SWTX, TWST, LSCC, PACB, KOD, FTCH, QDEL, PKI, TMO, SNBR
4) 22:20 Current Watch List – NVDA, Z, AMZN, SAIL, SE, SNAP, CELH, CRNC, TSM, SMH (ETF), XPEL, BLDR, LL, DECK
5) 26:30 No Setups/Conclusion/Summary