Topics covered:
1) 0:00 Announcements
2) 0:35 Market Commentary and Index Review (Nasdaq Composite, S&P 500, and Russell 2000)
3) 10:40 Stock Review – Biotech: XBI (ETF), RVNC, VTYX, BTAI, AXSM, AMLX, RAPT, SGEN
4) 15:15 Stock Review – Semiconductors: SMH (ETF), PI, ACLS, ALGM, LSCC, AEHR
5) 17:25 Stock Review – Software: AYX, TENB, PANW, ESTC, OSPN, AI
6) 19:40 Stock Review – Watch List/General Ideas/Commentary: WING, URI, SGML, TDW, TMDX, WYNN, LVS, ASO, AXON
7) 23:00 Stocks near buyable ranges: PI, AYX, TENB, WING
8) 23:50 Conclusion/Summary

Market Summary:
In the MidWeek Video on February 15th, I discussed 5 reasons to expect weakness over the second half of February. We got that weakness and now I am expecting the uptrend to resume over the next two months. I emailed a Market Note to Members on Tuesday morning (2/28/23) and posted it in the member section as well. In this video, I explain in more detail the reasons outlined in the Memo: 1) We are heading into two of the more seasonally favorable months (March and April). 2) The recent pullback was on light volume. 3) We are near key support levels that are providing safer entry points. 4) Many growth stocks are holding up well (I review them in this video). 5) Much of the bullish sentiment has calmed down over the past two weeks.

In this video, I also discuss answers to many of the questions I received. Bottom line: If I am wrong in my call, I have stops in place. I survived the second half of February well and I decided to increase exposure through the ETFs MDY and SMH. I went from approximately 45% to 65% invested. I want to repeat that everyone should make decisions based on their own plan. I present my investment levels to provide transparency and visibility but please keep in mind they can always change. If you have any questions, you can ask them during the next webinar which will be this Saturday, March 4th at 11AM EST. Thank you and good luck for the remainder of the week.

Unusual Option Activity:
3/1/23 S&P 500 ETF (SPY) April $376 puts 37,000X active as $378 adjust today
3/1/23 S&P 500 ETF (SPY) also buyer 10,000 April 6th (W) $385/$365 put spreads
3/1/23 Ark Innovation ETF (ARKK) with 13,500 April $38 puts opening near 2.50 as March puts start adjusting
3/1/23 Monster Beverage (MNST) opening sales 1500 September $115 calls for $2.45
3/1/23 Range Resources (RRC) buyers hot for 4900 September $34 calls $1.80+ with recent PXD takeover speculation
3/1/23 Range Resources (RRC) also seeing 2800 June $24 puts selling to open 1.60, and buyers of 2000 Sept $30 calls at $2.85
3/1/23 InMode (INMD) spread sells 650 August $25 puts to buy $35/$45 call ratios 650X1300
3/1/23 Reata Pharma (RETA) seeing 1000 May $110 calls sell to open at $3.60
3/1/23 Provention Bio (PRVB) large trade sells 4000 July 7.50 puts to open 1.05 seeing limited downside, 3-16 report
3/1/23 Seagen (SGEN) 2000 May 140 puts sold to open 1.50
3/1/23 Albemarle (ALB) opening sellers 2000 March 24th (W) $240 puts for $5.90
3/1/23 Onespan (OSPN) March 15 calls close 4100X and open 2500 June 17.50 calls $1.25
3/1/23 Salesforce (CRM) opening sale 2200 May $145 puts $4.40
3/1/23 Marvell (MRVL) with 1300 April $50/$42.50 bull risk reversals open at $0.08 debits, earnings tomorrow PM
3/1/23 Aehr Test Systems (AEHR) buyers of 800 June $45 calls for $2.90
3/1/23 Nvidia (NVDA) trade opens 1300 May $255/$210 bull risk reversals for $1.55 credit adjusting April
3/1/23 Splunk (SPLK) opening sellers 2000 January $70 puts $4.55 today
3/1/23 Splunk (SPLK) also seeing August $120/$90 bull risk reversals open 1500X at $1.35
3/1/23 Allegro Microsystems (ALGM) buyers 1500 May 35 puts 0.65
2/28/23 Retail ETF (XRT) buyer of 5000 April $70 calls for $1.98
2/28/23 Russell 2000 ETF (IWM) buyer 10,000 May $192 calls for $7.24 and buyer 10,000 April $191 calls $5.87
2/28/23 Nasdaq 100 ETF (QQQ) 5000 Dec 2023 $260/$250 ITM bull risk reversals traded for $44.89 debit in a large trade
2/28/23 Short Nasdaq ETF (SQQQ) unusual large buy 8000 October $38 calls $9.50
2/28/23 Oil Services ETF (OIH) with 1500 April $305/$300 bull risk reversals opening for $14.16
2/28/23 Tesla (TSLA) buyers 3000 July $240 calls $21.10 offer this afternoon
2/28/23 Tesla (TSLA) also buyer of 1000 July $290 calls 10.25 to 10.30 into Investor Day
2/28/23 Dominos Pizza (DPZ) opening seller 400 January $250 puts for $17
2/28/23 Halliburton (HAL) buyer 600 July $32 calls $7.40
2/28/23 Revance Therapeutics (RVNC) April $30 calls roll to January $40 for 7000X
2/28/23 Apple (AAPL) opening seller 2000 March 2024 $170 calls
2/28/23 Alteryx (AYX) seeing 500 August $70 calls bought for $8
2/28/23 Alteryx (AYX) also with 850 June $65 puts sold to open at $6.30
2/28/23 Advanced Micro (AMD) large buy of 6000 July $85 calls for $6.98 and follows recent upside April call spreads
2/28/23 Microsoft (MSFT) opening seller of 2400 March 31st $260 calls $4.30, adjusting March 10th $275 short calls
2/28/23 Crowdstrike (CRWD) seller of 500 January $95 puts at 10.55 bids
2/28/23 Asure Software (ASUR) unusual buy of 1450 September $12.50 calls for $2
2/27/23 Consumer Discretionary ETF (XLY) buyer 1900 January $135 puts $8.65
2/27/23 Nasdaq 100 ETF (QQQ) size buyers of 8000 April $300 calls $9.80
2/27/23 Nasdaq 100 ETF (QQQ) also with 5000 May $248 puts sold to open for $2.24
2/27/23 Biotech ETF (XBI) large trade opens 7500 April $85/$80 bull risk reversals for $0.25 debit, saw bullish trades Friday as well
2/27/23 Oil & Gas ETF (XOP) with 6000 April $120 puts sold to open for $2.96 down to $2.55
2/27/23 WingStop (WING) opening sale 500 April $165 puts $7.60
2/27/23 Range Resources (RRC) buyer of 1700 March $27/$30 call spreads for $0.80
2/27/23 Occidental (OXY) opening sale of 1700 March $56 puts for $1.09
2/27/23 Occidental (OXY) also buyers of 1100 March 24th $60 calls at $2.05
2/27/23 TG Therapeutics (TGTX) with 950 March $15.50 puts sold to open at $1.20
2/27/23 FTAI Aviation (FTAI) buyer of 2600 May $30 calls at $0.72, adjusts Aprils
2/27/23 Google (GOOG) buyer 2800 June $93.5/$107.5 call spreads for $4.28
2/27/23 Google (GOOG) also with 1250 Sept 2024 $90/$125 call spreads bought for $12.30
2/27/23 Splunk (SPLK) with 1170 April 85 puts sold to open 2.23 ahead of earnings
2/27/23 Nvidia (NVDA) with 1345 March 24th (W) $240 calls opening $12.50 to $12.80
2/27/23 Amazon (AMZN) size buyer 10,000 March $87 calls $7.85
2/27/23 C3.ai (AI) 2K July 35 call buyer
2/27/23 iShares 3-7 Year Treasury ETF (IEI) seeing a rare trade sell to open 21,000 July $119 calls for $0.52, would point to short term yields staying above 2023 lows
2/23/23 INSIDER BUY – Impinj (PI) had a large notable insider buy on 2/23 from director Steve Sanghi who bought 16,700 shares at $119.70 for just under $2M total and took his stake from just 2k shares to over 18k now. This is the first notable insider buy in the stock since March 2020.