Topics covered:
1) 0:00 Announcements
2) 0:30 Market Commentary and Index Review (Nasdaq Composite, S&P 500, and Russell 2000)
3) 8:10 FOCUS LIST: XBI (ETF), CELH, SWAV, HALO
4) 14:30 Stock Review – Watch List/General Ideas/Commentary: GH, UTHR, LNTH, PRCT, BEAM, CRSP, NTLA, TWST, ARKG (ETF), EVH, NGM, DICE, MNST
5) 20:45 Stocks near buyable ranges: HALO, GH, NTLA
6) 22:15 Conclusion/Summary

Market Summary:
In this video, I review the positives and negatives in the market, and encourage members to make decisions based on their own timeframe and investment objectives. The biggest negatives include: 1) The major indexes are still below their 50-day and 200-day moving averages. 2) The Fed is still raising interest rates. 3) Volume continues to be weak. This last point is important because it shows lack of conviction from the big institutions. We need the institutions to return to this market in order to see a sustained, new uptrend, and my feeling is they will come back in with confidence when the Fed pauses their current rate-hiking cycle.

The biggest positive is that there are stocks showing great price action, specifically in the biotech and medical products sectors. So, how so you reconcile some stocks acting well with the concern that an aggressive Fed will continue to put pressure on the market? One solution could be to meet halfway. In other words, own some of the strongest stocks and ETFs, but keep some cash to help cushion any potential downside. Again, this is where I encourage members to make their own decisions. Please keep in mind that everyone has different timeframes. Either way, I still think it’s wise to stay defensive and remain patient. Also, remember that when there’s a mixed picture, I will always lean towards being defensive to protect members. The Market Note I sent on Thursday was sent to caution members, just in case the Fed goes through with two more aggressive rate hikes. I don’t think they will, but I would rather be defensive until we get a clearer picture and market conditions improve. If you have any questions, you can ask them during the next webinar which will be this Monday, July 18th at 7PM EST. Thank you and enjoy the rest of your weekend.

Unusual Option Activity
7/15/22 Datadog (DDOG) opening put sale of 1,000 ITM Dec $100 puts at $21.30, over $2M of premium sold and continues recent bullish flow
7/15/22 Schlumberger (SLB) buyer 2400 November $35/$45 call spreads for $2.08, earnings in a week
7/15/22 Marathon Petro (MPC) opening sellers 3000 January $55 puts for $1.62
7/15/22 Occidental (OXY) with 1000 October $60/$55 bull risk reversals opening at $0.75 debit
7/15/22 Karuna (KRTX) more cautious flow into upcoming data with 800 Aug 130 puts bought 27.10 to 28.50
7/15/22 Palo Alto (PANW) seeing August $550/$450 bull risk reversals open at net credits 1200X
7/14/22 Nasdaq 100 ETF (QQQ) trade opens 25,000 Sept $292/$254 bull risk reversals for $3.85 debit, adjusts July $285 calls
7/14/22 Nasdaq 100 ETF (QQQ) also today a buyer 10,000 January $285/$335 call spreads for $19.78
7/14/22 United Therapeutics (UTHR) 250 Aug 240 calls open as July 230 roll
7/14/22 Intellia Therapeutics (NTLA) unusual buy of 1000 August 70/90 call spreads for $4.95
7/14/22 Apple (AAPL) opening sale 5000 Aug. 26th (W) $155 calls $2.66
7/14/22 Apple (AAPL) also 10,000 Aug. 26th (W) $150 calls sold to open 4.45.
7/14/22 Exxon Mobil (XOM) buyers 900 October $65 ITM calls at $18.25 offer
7/14/22 Devon (DVN) buyer 2000 Aug. 5th (W) $50/$60 call spreads for $2.95
7/14/22 Zscaler (ZS) with 2270 August $170 calls selling to open $5 down to $4.40