Topics covered:
1) 0:00 Announcements
2) 0:25 Market Commentary and Index Review (Nasdaq Composite, S&P 500, and Russell 2000)
3) 4:50 FOCUS LIST: XBI (ETF), CELH, SWAV, PRCT
4) 9:10 Stock Review – Watch List/General Ideas/Commentary: LNTH, TMDX, AXNX, EVH, GH, IRTC, ARKG (ETF), AXSM, NBIX, DICE, NGM, BMEA, RXDX, PRVA, CSTL, VERV, CYTK
5) 16:00 Stock Review – Watch List Continued: ACLS, ON, PLAB, GFS, MPWR, ENPH, ALB, LTHM, LAC, PLL, ENVX, BTU, OXY, DVN, CF, EQT, RRC, XOM
6) 20:30 Stocks near buyable ranges: PI, XENE
7) 22:20 Conclusion/Summary

Market Summary:
A week ago, I discussed that I was expecting a consolidation. I outlined the reasons in the 8/17 MidWeek Video, and the main three were the lack of safe entry points, that the major indexes were extended from their 21-day moving averages, and that the Fed is still raising rates. If we got a pullback (which we did over the past week), I said that I would be watching three things: 1) How the leading stocks acted. 2) If the pullback in the indexes would be orderly and on light volume. 3) Sentiment. My conclusion so far is that this is an orderly pullback, and that the price action is strong beneath the surface.

Many members noticed how the stocks on our focus and watch lists continue to act well. Many showed incredible relative strength by not just holding up well during the pullback so far, but also by breaking out to new highs (examples include CELH and TMDX). From here, I wouldn’t be surprised to see the indexes stabilize and move higher into next week. I don’t think Fed Chair Powell will say anything earth-shattering at the Jackson Hole Symposium this Friday. I also think that sentiment is fairly muted (borderline negative) and that a move higher would fool the majority. I am doing my best to stay focused on the strongest stocks out there, take some profits into strength, and get solid entries near logical support levels. If you have any questions or would like me to review any stocks not covered in this video, you can ask them during the next webinar which will be this Monday, August 29th at 7PM EST. Thank you and good luck for the remainder of the week.

Unusual Option Activity:
8/24/22 Livent Corp (LTHM) 350 OTM Apr 40 calls bought up to 4.10
8/24/22 Google (GOOG) sale to open 4690 October 105 puts at 2.30
8/24/22 Semiconductor ETF (SMH) midday buyer 6600 Oct. $250 calls up to $4.65
8/24/22 Tesla (TSLA) buyers of 1000 September $1010 calls $12.70 up to $14+
8/24/22 Array Tech (ARRY) afternoon buyers of 3400 January $35 OTM calls for $1.40
8/24/22 Vermilion Energy (VET) deep ITM January 2024 $15 calls bought $15.50 for 3500X
8/24/22 Enovix (ENVX) buyer 1000 January 2024 $25 calls for $8.90
8/24/22 Encompass Health (EHC) with 750 September $50 calls bought to open in unusual action up to $2.40
8/24/22 Bristol Myers (BMY) with 10,000 November $77.50 calls sold to open 1.31
8/24/22 Palo Alto (PANW) with 1000 December $580 calls opening for $4.7M as September $520 adjust out and up
8/23/22 Enovix (ENVX) opening seller 500 Jan 22.50 puts for $5.30
8/23/22 Eli Lilly (LLY) with 6500 September $345 calls sold to open for $1.01
8/23/22 MasterCard (MA) seller 2480 September $305 puts to open 1.52
8/23/22 MasterCard (MA) also with 1275 September 330 puts sold to open $5.65
8/23/22 Xenon Pharma (XENE) buyer of 500 Oct 45 calls this morning 2.55, also unusual put selling for a few months
8/23/22 Diamondback Energy (FANG) buyer 1000 October $150 calls for $5.40
8/23/22 Enphase Energy (ENPH) buyer 400 October $300 calls $18.55 as September $280 adjust
8/23/22 Applied (AMAT) opening sale 1000 June 2024 $90 puts $13.73 as January 2024 adjust
8/23/22 Occidental (OXY) buyer 3000 January $90 calls for $4.70
8/23/22 S&P ETF (IVV) opening seller 2435 March $350 puts at 9.30 bid
8/23/22 Vanguard Total Market (VTI) opening sellers 4800 March $175 puts for $4.90
Opening sellers in March puts (IVV VTI) tend to be pretty smart money that time highs in Vol, and lows in market
(though note put sellers can win even w/ a much further drawdown w/ strikes used)
8/22/22 Peabody Energy (BTU) with 3000 September $30 calls bought at $1.15
8/22/22 Occidental (OXY) with 2950 Oct. $65 calls trading $7.65 offer
8/22/22 Celldex Therapeutics (CLDX) with 1100 January $40 calls opening $3.90 as some $35 calls adjust
8/22/22 Amazon (AMZN) massive buy 45,000 November $110 calls $27.56 as the Sep. $95 calls adjust
8/22/22 Biotech ETF (XBI) with a stock replacement opening 3250 January $80/$107 call spreads for $10.65
8/22/22 Altimmune (ALT) with an unusual buy of 1000 Oct $19 calls $2.95 to $3.23, previously seen some Sep. call buys
8/19/22 EOG Resources (EOG) with 2500 January 2024 $82.7 puts sold to open for $7.90
8/19/22 Qualys (QLYS) with 500 October $145 calls opening as August 140 adjusted
8/19/22 Apple (AAPL) buyer 15,000 December $175 calls for $10.75
8/19/22 Shockwave Medical (SWAV) with 200 December $290 calls opening $37.40 as August adjusted out
8/19/22 Nasdaq 100 ETF (QQQ) afternoon trade put on 15,000 January $355/$300 bull risk reversals for a credit of $4.11
willing buyer back near the July base breakout