Topics covered:
1) 0:00 Announcements
2) 0:25 Market Commentary and Index Review (Nasdaq Composite, S&P 500, and Russell 2000)
3) 5:10 FOCUS LIST: XBI (ETF), CELH, SWAV, HALO, PRCT
4) 11:20 Stock Review – Watch List/General Ideas/Commentary: LNTH, IRTC, ARKG (ETF), XENE, DICE, NGM, AXSM, BMEA, TMDX, CSTL, ASRT, MPWR, PLAB, PI, ON
5) 19:35 Stocks near buyable ranges: EVH, GH
6) 20:55 Conclusion/Summary

Market Summary:
In this video, I review the price action so far this week. On Monday, the Nasdaq Composite has its first above average volume distribution day this quarter. What’s interesting to me is how negative people got over a one-day reversal. In order for a rally to stall out, we would need to see a cluster of distribution days and we haven’t seen that so far. Tuesday was also a distribution day but another interesting thing happened. There was a huge spike in put buying, as many were probably getting nervous ahead of Wednesday’s inflation report. Whatever the reason, it’s nice to see this type of bearishness because a big part of the rally since the June lows has been psychology. As I’ve mentioned several times, the market likes to fool the majority and sentiment has been very negative the past two months.

On Wednesday, the CPI report came in lower than expected. The market rallied because it is now expecting the pace of rate hikes to slow down. In other words, the market was already pricing in a 75 basis point rate hike at the Fed’s next meeting, but now 50 basis points seems more likely. Again, we still need to see September’s data before the next Fed meeting. From here, I wouldn’t be surprised to see the market go sideways. What’s more important to me is to remind members to stay FOCUSED on the leaders. I didn’t find many quality setups in my screening today, but as soon as some of the stocks on our focus list present safer entry points, I will pass them along. Thank you and good luck for the remainder of the week.

Unusual Option Activity:
8/10/22 Google (GOOG) buyer 2000 June 2024 $120 calls for $25.70
8/10/22 Ark Innovation ETF (ARKK) with 15,000 Oct $48 puts bought $4.20, follows recent Sept put accumulation
8/10/22 LAM Research (LRCX) opening sale 1275 January $320 puts down to $8.60
8/10/22 Tesla (TSLA) buyers 2500 Sept 1085 calls $10.40 to $10.45, also buyers 1475 Sept $1090 calls $10.65
8/10/22 Twitter (TWTR) buyer 2500 Dec. $46 calls 4.20 as the $42 calls adjust
8/10/22 Apple (AAPL) 8000 Aug 167.5 puts selling to open early
8/10/22 Apple (AAPL) also large opening sale 4000 December $180 puts $17.40 as Sep. $155 short puts adjust
8/10/22 GlaxoSmithKline (GSK) large buys of 10,000 September $40 calls at $0.45
8/9/22 S&P 500 ETF (SPY) buyer 32,000 Oct. $440 calls for $4 as the Oct. $430 calls close 16,000X at $7.01
8/9/22 Nasdaq 100 ETF (QQQ) sale to open 1500 Sep. 2023 $315 puts for $31.93
8/9/22 Nasdaq 100 ETF (QQQ) also size buyer into early lows of 3000 Dec. $318 calls for $21.86, a $6.5M trade
8/9/22 Tesla (TSLA) interesting trade this morning put on 800 April 950/775 bull risk reversal at $22 debit
8/9/22 MongoDB (MDB) seeing 500 September $300/$220 put spreads bought
8/9/22 Celsius (CELH) opening sellers 1350 Oct. 120 calls $5.60 ahead of earnings, willing to get called away 20% higher
8/9/22 Semiconductor ETF (SMH) buyer 1000 Oct. 220/190 put spreads for $6.15
8/9/22 ON Semi (ON) opening sale 3000 September $65 puts $4.40
8/9/22 Nvidia (NVDA) size opening put sales with 3000 each of the Dec and March $140 strike puts selling to open for over $6M premium
8/9/22 NXP Semi (NXPI) sees 2000 Sept 175 puts sell to open 9.10 bid
8/9/22 Occidental (OXY) sweep buyers 1500 December $77.50 calls at $3.30 offer, Buffett stake now above 20%
8/9/22 Microsoft (MSFT) large opening sale 2000 December 275 puts for 16.30 as August bull risk-reversals adjust
8/9/22 Howmet Aerospace (HWM) unusual buy 1000 Oct 43 OTM calls w/ nice bull flag setup
8/9/22 Kodiak Sciences (KOD) buyer of 2000 Dec $15 calls at $1.75. Rolling up and out the Sept $12.50 calls
8/8/22 Alnylam (ALNY) seller to open 500 Sept 240/220 strangles for 17.50 looking for range-bound action after the huge move
8/8/22 Monster Beverage (MNST) late day sweep buys 1400 September $95 calls 1.15 offer
8/8/22 Monster Beverage (MNST) also opening seller 1850 January 70 puts 1.35 bid
8/8/22 Twitter (TWTR) buyer 3000 Nov $45 calls for $4.27 as Sep. calls adjust, also seeing 1400 Nov $50/$40 bull risk reversals open
8/8/22 InMode (INMD) bull spreads in January 2022 selling $32.5 puts to buy $40/$50 call spreads 1650X
8/8/22 Guardant Health (GH) 1000 Dec $45 calls closing for 17.50 today
8/8/22 Tesla (TSLA) buyer 7500 Dec. $780 calls $203 in a massive trade as those Sep. $700 calls bought on 4/29 adjust
8/8/22 Cytokinetics (CYTK) Sep. $45 calls bought 4077X on 7/19 take strong profits and leave a runner with September $60 calls 4200X
8/8/22 Apple (AAPL) buyer 1500 Sep. 9th (W) 167.50 calls $5.20 offer