Topics covered:
1) 0:00 Announcements
2) 0:35 Market Commentary and Index Review (Nasdaq Composite, S&P 500, and Russell 2000)
3) 4:15 FOCUS LIST: WING, HALO, CELH, PI
4) 7:00 Stock Review – Biotech: IBB (ETF), XBI (ETF), AXSM, AMLX, RVNC, RYTM, RCKT, PCVX, PDSB
5) 10:50 Stock Review – Medical Products: INSP, TMDX, PODD, DXCM, HRMY
6) 12:20 Stock Review – Energy: OIH (ETF), XLE (ETF), XOP (ETF), SLB, HAL, TDW, APA, BTU, CAT, FLR
7) 14:40 Stock Review – Watch List/General Ideas/Commentary: SMH (ETF), ACLS, MBLY, AEHR, CALM, DECK, YUM, WEN, LLY, BOX
8) 18:25 Conclusion/Summary

Market Summary:
The major indexes are below their key moving averages (50-day and 200-day). Growth stocks continue to see strength being sold into, and the overall price action is very choppy. There’s no consistency and very little follow through. Why is all this happening? Because we are in a bear market. The Fed is raising rates and taking liquidity out of the system in their efforts to fight inflation. Therefore, the conclusion is the same: Remain defensive and stay patient. If you are inclined to trade, please keep your positions light.

The good news is that there will be plenty of strong opportunities when we come out of this correction. The key is to protect capital and to protect confidence until conditions improve. I will continue to work for you, build strong watchlists, and be ready to pounce when the institutions consistently come back in. Please take some time over the next week or so to put aside the market and spend time with friends and family. Merry Christmas and Happy Holidays to everyone! Cheers to a healthy and profitable 2023!

Unusual Option Activity:
12/23/22 Semiconductor ETF (SMH) buyer 1500 May $240 calls $5.65 offer
12/23/22 Russell 2000 ETF (IWM) buyer 10,000 Jan. 13th (W) $177 calls $2.93 offer
12/23/22 S&P 500 ETF (SPY) seeing a buyer of 4600 December 2024 $455/$520 call spreads at $16.90
12/23/22 Tesla (TSLA) seeing buyers active for 10,000 January $130 calls at $8.50 to $10
12/23/22 Halliburton (HAL) seeing 2000 Jan. 6th (W) $40 calls bought
12/23/22 Sarepta Therapeutics (SRPT) with 1000 Feb $140 calls sold to open at $4.50
12/23/22 Illumina (ILMN) opening seller of 450 Jan $195 puts at $10.80
12/23/22 Microsoft (MSFT) early size buyer 4000 January $232.50 calls $9.85
12/23/22 Snowflake (SNOW) buyer 400 July $200 calls at $9 offer
12/23/22 Amazon (AMZN) seeing a buyer of 1200 March $86 calls at $7.25
12/22/22 S&P 500 ETF (SPY) with 37,000 Feb. $363 puts bought early as the $366 adjust lower
12/22/22 Russell 2000 ETF (IWM) with 190000 February $164 puts bought as the $167 adjust lower similar to SPY puts
12/22/22 Oil ETF (USO) opening sale 5000 April $55 puts for $1.80
12/22/22 Chewy (CHWY) unusual buyer 2000 July $55 far OTM calls $3.20 offer
12/22/22 Pfizer (PFE) buyer 6000 Jan. 13th (W) $51 puts for $1.06, also 5000 January 51/47 put spreads bought
12/22/22 Biogen (BIIB) opening sale 325 January 2024 $235 puts for $24
12/22/22 Novartis (NVS) with 1200 July $92.50 calls sold to open $4.30
12/22/22 Aehr Test Systems (AEHR) opening seller 2000 June $30 calls $2.35
12/22/22 Amazon (AMZN) opening seller 750 Sep. 2024 $80 puts for $13.40
12/22/22 Taiwan Semi (TSM) opening sale 1250 September $60 puts $3.15
12/22/22 Nasdaq 100 ETF (QQQ) 7500 Jan. 4th (W) / Mar. 31st (Q) $265 calendar put spreads looking for 265 to hold near-term and then give way
12/21/22 Inspire Medical Systems (INSP) on 12/21 saw some large deep ITM January calls adjust to February expiration as the Feb $160 calls bought 700 at $103 and the Feb $170 calls bought 930 at $93.40. Over $15M in ITM calls bought in total on the day as this bull looks for continued strength in the Med Tech stock into 2023. The Jan calls being adjusted were originally bought on 12/8 as the December $130 calls adjusted up and out.