Topics covered:
1) 0:00 Announcements
2) 0:40 Market Commentary and Index Review (Nasdaq Composite, S&P 500, and Russell 2000)
3) 7:15 Stock Review – Watch List/General Ideas/Commentary: XBI (ETF), AMLX, RVNC, CINC, DICE, CELH, SWAV, GH, EVH, PRCT, ALB, LTHM, SGML, ENVX, CCRN, WWE, CF
4) 13:50 Stock Review – Energy: XLE (ETF), XOP (ETF), COP, LNG, DVN, MPC, FANG, DINO
5) 16:10 Conclusion/Summary

Market Summary:
The market showed strength at the beginning of the month, but we still needed it to prove itself. In recent videos, I discussed the checklist needed for healthier conditions but, unfortunately, the market failed. After the Jobs Report last Friday, the S&P 500 and Nasdaq Composite saw more distribution and both indexes made new lows this week. On the bright side, the Russell 2000 is still holding up so far and the Biotech index (XBI) is showing great relative strength, but the market still needs time before we see any sustained uptrend. My conclusion is the same: Stay super defensive, be very patient, protect your capital, and protect your confidence.

The biggest challenge continues to be the hawkish Fed. We need to wait for a verbal confirmation that they are pausing their current rate hiking cycle. Rather than guessing when that will be, I prefer to wait for the selling to slow down, and consistent signs that the big institutions are coming back into the market. Most importantly, we need to see the price action of growth stocks improve, and again, this will require patience. The market is CLEARLY giving us information that it’s unhealthy based on the overall price action of stocks and the major indexes. It will eventually turn around, but until then, staying defensive is best. 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 Saturday, October 15th at 11AM EST. Thank you and good luck for the remainder of the week.

Unusual Option Activity:
10/12/22 S&P 500 ETF (SPY) spread bought 25,000 Dec $270 puts and sold 25,000 February $240 puts at a net credit
10/12/22 Energy ETF (XLE) buyers of 10,000 December $75 puts today for $3.5M
10/12/22 Cytokinetics (CYTK) large buy of 4000 Dec $55 calls at $5.10 as the November $65 calls adjust
10/12/22 Apple (AAPL) buyer 5000 Nov 4th (W) $145 puts for $8.95
10/12/22 Apple (AAPL) also with opening sales of 10,000 Oct. 28th (W) $144 calls $3.45 to $3.30
10/12/22 Marathon Petro (MPC) buyer 1000 Oct. 28th (W) $102 puts for $3.85
10/12/22 Chargepoint (CHPT) seeing 10,000 January 2025 $30 calls sold to open at $2.72
10/12/22 Palo Alto (PANW) opening seller of 350 June $160/$100 bull put spreads for $18.60
10/12/22 Adobe (ADBE) with a large opening sale 1500 April $260 puts for 20.95
10/11/22 Semiconductor ETF (SMH) buyer 5000 November 200/220 call spread for 2.25
10/11/22 Axsome Therapeutics (AXSM) stock replacement bought 3000 October $45 calls for $3.10
10/11/22 S&P 500 ETF (SPY) with 2500 Feb $324 puts bought for over $3M and 2000 March $316 puts bought $2.3M
10/11/22 S&P 500 ETF (SPY) also a buyer 1500 Jan 2024 $375 calls for $38.55 spread vs. $390
10/11/22 Nasdaq 100 ETF (QQQ) buyer 5850 Dec $256/$244 put spreads for $3.80
10/11/22 Valero (VLO) seeing buyers for 1900 Nov 11th $122 calls at $2.60 to $3
10/11/22 Procept Biorobotics (PRCT) with 1500 Nov $40/$35 put spreads bought for $3.50
10/11/22 Twilio (TWLO) opening seller 800 April $105 calls 4.90 bid
10/10/22 Russell 2000 ETF (IWM) buyer 15,000 November $162/$145 put spreads
10/10/22 S&P 500 ETF (SPY) trading 20000 December $330/$295 put spreads
10/10/22 Exxon (XOM) buyer 1100 January 2024 $140 calls $5.35
10/10/22 Chevron (CVX) seeing buyers for 2300 Oct 28th $157.50 calls at $6.85, captures earnings that week
10/10/22 Apple (AAPL) opening seller 15,000 Oct 28th (W) $139 calls 6.15 to 6.10
10/10/22 Nvidia (NVDA) buyer 1300 April $105 puts $13.10
10/10/22 Nvidia (NVDA) also spread sold 5000 June $150 calls $11.20 and bought 5000 June $80 puts for $6.59
10/10/22 Amazon (AMZN) buyer 1400 Nov. 11th (W) $120 calls for $5.50
10/10/22 Microsoft (MSFT) large opening seller of 3000 Nov. 4th (W) $230 puts for 9.95
10/10/22 Lam Research (LRCX) seeing buyers of 500 January $315 puts for $24
10/10/22 ON Semi (ON) opening sale 500 February $60 calls 9.50
10/10/22 Salesforce (CRM) buyer 2000 June $140 puts $16.32 adjusting 1K of the Jan $150 puts