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Topics covered:
1) 0:00 Announcements
2) 0:15 Market Commentary and Index Review (Nasdaq Composite, S&P 500, and Russell 2000)
3) 6:30 FOCUS LIST: XBI (ETF), CELH, SWAV, PRCT
4) 10:45 Stock Review – Watch List/General Ideas/Commentary: IRTC, TMDX, LNTH, AXNX, STAA, PRVA, GH, EVH, VERV, AXSM, XENE, CYTK, BMEA
5) 16:30 Stock Review – Watch List Continued: ALB, LTHM, SQM, LAC, ENVX, ENPH, PI, QLYS
6) 20:35 Stocks near buyable ranges: IRTC, PRVA
7) 21:20 Conclusion/Summary

Market Summary:
As I’ve mentioned over the past few weeks, there are many stocks acting well, but the market is weak. From a technical view, we are below the 50-day and 200-day moving averages on the major indexes. Fundamentally, the Fed is raising rates and aggressively fighting inflation. How I reconcile this challenge is by keeping positions light. That way, if the market moves higher, you can hopefully participate, and if the market moves lower, you hopefully won’t get hit as bad because you have some cash and you’re in some decent relative strength stocks.

A perfect example of this occurred on Tuesday. It was one of the worst days for the market in over two years, but I didn’t get hit as bad because I had a decent cash position and many of the stocks on our watch list held up very well. Specifically, Medical Products, select Biotech, and many Lithium stocks held up very well on Tuesday. Many of them were even green! I review all these names in this video. Again, stay defensive and keep things light until market conditions improve. I am by no means complacent. I’m just a little more positive than most people because I think the Fed is closer to the end of their current rate hiking cycle than most people believe. The key is to be patient until we see signs of the big institutions coming back into this market with more consistency on the up days. Good luck for the remainder of the week!

Unusual Option Activity:
9/14/22 Nasdaq 100 ETF (QQQ) Oct 28th (W) $280 puts with 5000X sold to open today
9/14/22 Altimmune (ALT) buyer 3500 March $20 calls $3.49 as January $25 adjust
9/14/22 Altimmune (ALT) also with 2000 Jan 20 calls bought 4.16 as Oct 25 adjust
9/14/22 Livent (LTHM) far OTM Oct 45 calls bought 2000X 0.45 offer sweeps
9/14/22 Google (GOOGL) opening sale 1100 March 92 puts for 5.15
9/14/22 Apple (AAPL) Oct. 7th (W) $160 calls hot with buyers early 5000X
9/14/22 Advanced Micro (AMD) opening sale 1900 March 50 puts for 2.11
9/14/22 ChargePoint (CHPT) Sept calls adjusting out to size calls for Sept 23rd (W) expiration
9/14/22 ChargePoint (CHPT) also Jan $24/$20 bull risk reversals trade 5000X, and Oct. $15 puts sell to open 5000X at 0.79
9/14/22 Amazon (AMZN) large trade puts on 3000 January 2024 $145/$110 bull risk reversals at a $6 debit
9/14/22 Guardant Health (GH) block 23650 November $65 calls bought $8.20 looks to add to large OI
9/14/22 Zscaler (ZS) large bull trade today opens 300 Jan 2024 $210/$190 bull risk reversals for $6.20 credit
9/14/22 Enovix (ENVX) 2000 Oct 22.5 calls bought for $3.70
9/13/22 STAAR Surgical (STAA) seeing 1200 October $105 calls bought up to 2.50 early
9/13/22 Tesla (TSLA) with 35,000 April $316.67 calls opening $45 as January $300 calls adjust
9/13/22 Nvidia (NVDA) opening seller 440 Jan 2025 140 puts for 34.55
9/13/22 Nasdaq 100 ETF (QQQ) seeing 5500 Sep. 28th (W) $285 ITM calls bought for $9M
9/13/22 Revance Therapeutics (RVNC) selling 15,000 April $22.50 puts to buy 15,000 of the $30/$40 call spreads at net credit
9/13/22 Revance Therapeutics (RVNC) also a buyer 2000 January $40 calls for $1.15
9/12/22 S&P 500 ETF (SPY) opening seller in November $418 ITM puts 4000X raising $8M premium
9/12/22 S&P 500 ETF (SPY) also 16,000 December $435/$370 bull risk reversals traded for $0.79
9/12/22 Biotech ETF (XBI) with 6400 March $60 puts sold to open 1.84
9/12/22 I-Rhythm (IRTC) buyers of 600 October 170 calls up to 9.15 with some Sep. calls adjusting
9/12/22 Apple (AAPL) buyer of 1000 January 2025 $160 calls $36.75 to $37.80
9/12/22 Apple (AAPL) also with 20,000 November $155 calls are bought 14.75 offer
9/12/22 Tesla (TSLA) buyers active for 500 long term January 2025 $250 calls at at $136.50, over $7M
9/12/22 Celsius (CELH) 400 January $145/$170 call spreads bought today
9/12/22 Meta (META) seeing sellers of 1775 March $120 puts this morning $4.55 and buyers in $230 calls
9/12/22 BioMarin (BMRN) with 1000 Oct $90 calls bought $4.50 to $5, has bullish OI in Jan $105 and $110 calls
9/12/22 Karuna Therapeutics (KRTX) seeing Feb $300 calls 550X sell to open, willing to get called away