Topics covered:
1) 0:00 Announcements
2) 0:15 Market Commentary and Index Review (Nasdaq Composite, S&P 500, and Russell 2000)
3) 8:15 Stock Review – Energy: XLE (ETF), XOM, CVX, XOP (ETF), OIH (ETF), SLB, CVX, COP, DVN, FANG, HES, VLO, DINO
4) 12:10 Stock Review – Biotech/Medical Products: XBI (ETF), AMLX, PRTA, RYTM, RVNC, CINC, NBIX, BIIB, VRTX, LLY, SWAV, PRCT
5) 19:00 Stock Review – Watch List/General Ideas/Commentary: CCRN, ALB, HRMY, CALX, PI, CELH
6) 22:05 Conclusion/Summary

Market Summary:
Since the inflation (CPI) report on October 13th, the market technicals have made great progress. We’ve seen two follow through days on the Nasdaq Composite, all the major indexes are above their 21-day moving averages, and some are even above their 50-day averages. The Nasdaq Comp saw its first distribution day in over two weeks on Wednesday because earnings from Microsoft and Google weighed down the index. However, the general market (S&P 500) pulled back on lighter volume, showing broader strength beneath the surface. The bottom line is we’ve seen a strong surge in the market since October 13th. From here, I would like to see sideways price action on light volume to digest these gains. That would give time for more stocks to setup and build proper handles to possibly offer stronger entry points over the next few weeks.

I feel we will get more clarity after the market digests earnings from the big tech companies, and also after the next Fed meeting on Wednesday, November 2nd. The Fed is expected to raise interest rates by 75 basis points but their statement and guidance during the press conference will be very important. Again, be patient, wait for proper entry points, and still use lighter positions until the market proves itself better and we get more clarity. If we get any dovish tone from the Fed and the technicals continue to improve, that could be the catalyst for a year-end rally. As always, I will stay on top of things for you everyday, and if there is anything important in between videos, I will email members or do more webinars as hopefully more stocks set up. Thank you and good luck for the remainder of the week.

Unusual Option Activity:
10/26/22 Energy ETF (XLE) Jan $95 calls bought 32,000X versus the $105 calls as March spreads adjusted
10/26/22 Vaxcyte (PCVX) opening seller 2000 Jan $35 puts for $3.30, coming off strong data that should support shares on dips
10/26/22 Semiconductor ETF (SMH) opening seller of 5000 June $245 calls at $5.70 bids
10/26/22 S&P 500 ETF (SPY) sweep buyers active early for 12,000 December $364 puts for around $9.5M
10/26/22 Russell 2000 ETF (IWM) buyer 23,600 June $215 calls $4.96 sells the same number of Jan $160 puts $3.51
10/26/22 Chevron (CVX) with 4000 November 157.50 puts sold to open 1.05
10/26/22 Occidental (OXY) buyer 1500 May $80 calls $8.70 offer
10/26/22 Biogen (BIIB) opening sales 450 April $275 calls for $41.30
10/26/22 Maxar Tech (MAXR) unusual call buys for a second straight day with 2475 Dec $25 calls $1.20
10/26/22 ON Semi (ON) with 1500 May $40 puts sold to open 1.90
10/26/22 Salesforce (CRM) buyers in May $210 calls 900X at $5.40 offer
10/25/22 Celsius (CELH) spread sells 1000 Nov 70 puts $2.25 and buys 750 Nov $85 calls $8.80
10/25/22 Iveric Bio (ISEE) with 5500 Nov $20 puts sold to open $0.80 and Dec $25 calls bought 3500X at $1.95
10/25/22 Viewray (VRAY) more bull flow with 3480 March $4 puts selling to open today for 0.45
10/25/22 Nutrien (NTR) size buyer 2000 December $90 calls $3.30 offer
10/25/22 Aehr Test (AEHR) opening sale 1500 December 25 calls for 2.10
10/25/22 Microsoft (MSFT) opening sales 1250 Nov. 25th (W) 260 calls for $6
10/25/22 Bill.com (BILL) opening seller for 550 Feb $85 puts at $6.70
10/25/22 Nvidia (NVDA) opening seller of 2700 March $85 puts for $3.55
10/24/22 Nasdaq 100 ETF (QQQ) with buyers active 10,000 Nov. 11th (W) $285 calls $4.83
10/24/22 Russell 2000 ETF (IWM) buyer 10,000 Nov 179 calls $3.66 offer
10/24/22 Schlumberger (SLB) seeing Feb $65 calls bought 2000x at $1.68 as the Nov $50 calls adjust higher
10/24/22 Hess (HES) opening seller 1000 November $125 puts for $2.875
10/24/22 Occidental (OXY) opening seller for 1000 November $66 puts at $2.12
10/24/22 Guardant Health (GH) buyer of 1000 November $50/$75 call spreads
10/24/22 Apple (AAPL) buyer 4000 Nov. 11th (W) 4150 puts $6.65 into earnings this week
10/24/22 Merck (MRK) with 2000 December 100 puts sold to open $5