Topics covered:
1) 0:00 Announcements
2) 0:30 Market Commentary and Index Review (Nasdaq Composite, S&P 500, and Russell 2000)
3) 10:00 Reviewing my recent investment levels
4) 14:15 Stock Review – Energy: XLE (ETF), XOP (ETF), OIH (ETF), DVN, APA, BKR, EOG, FANG, HES, HFC, HP, PSX, SM, VLO
5) 17:50 Stock Review – Watch List/General Ideas/Commentary: BROS, MA, AAPL, CNXC, ACAD, EXPE, BKNG, CF, MOS, BG
6) 20:15 Conclusion/Summary

Market Summary:
In this video, I review the points made in the Market Note to Members that was emailed after the market close on 2/10. The basic summary is what I’ve been saying over the past month or so: Stay defensive and be patient. While I expect the market to go lower over the next 3-6 weeks, I was not expecting the drop that came on Friday. It just continues to prove the point that the market is vulnerable to any geopolitical and/or interest rate headlines when it’s below the 200-day moving average. At the 10:00 mark of this video, I review the reasoning behind my recent investment levels. Although I came into Thursday 40% invested, I was able to survive the two distribution days on Thursday/Friday because I was in some of the stronger stocks and they were light positions. I ended up reducing down to 5% invested by the end of the week, and I will continue to remain defensive until market conditions improve.

Again, don’t get discouraged. If we have another leg down, we will start to see the strong relative strength stocks. I will show you some of the things I look for in the next Stock Screening Webinar, which will be Saturday February 19th at 11AM EST. Thank you and enjoy the rest of your weekend!

Unusual Option Activity
2/11/22 MGM Resorts (MGM) buyer of 5000 June $55/$40 bull risk reversals for $0.25 debit
2/11/22 Baker Hughes (BKR) with 3000 Sep. $33 calls bought $1.90 offer aggressively
2/11/22 Disney (DIS) the September $95 deep ITM calls being bought 2,275X today for $56.50 to $61, around $12M
2/11/22 Semiconductor ETF (SOXX) buyers of 1000 March $430 puts for $8.20 to $8.80
2/11/22 Biotech ETF (XBI) buyer of the August $85 puts for $5.65 today, over 2250X
2/11/22 Energy ETF (XLE) with 3400 September $64/$50 put spreads bought today into strength
2/11/22 Devon Energy (DVN) with 1000 March $45 puts sold to open for $1.07
2/11/22 Hess (HES) with 1000 January $110 calls sold to open for $10
2/11/22 Philips (PSX) with 1000 May $100 calls sold for $3.16 to open today
2/11/22 Tesla (TSLA) seeing the March $780 puts bought up to $23.80 to open this morning, over 1625X
2/11/22 Perion Network (PERI) another 1000 July $25/$35 call spreads bought with 500 $22.50 puts sold
2/10/22 Perion Network (PERI) with spreads today selling 750 July $22.50 puts to buy the $25/$35 call spread 1500X
2/10/22 Nasdaq 100 ETF (QQQ) block of 15,000 Feb. 25th (W) $355 puts opens $4.06 as the $350 puts adjust
2/10/22 Nasdaq 100 ETF (QQQ) also seeing May $320 puts sold to open this morning $7.35 to $7.20
2/10/22 EOG Resources (EOG) with 12,850 March $125 calls sold to open today for $2.32 down to $2.20
2/10/22 Teck Resources (TECK) buyers of 3,700 March $38 calls for $1.40 to $1.50