Topics covered:
1) 0:00 Announcements
2) 0:25 Market Commentary and Index Review (Nasdaq Composite, S&P 500, and Russell 2000)
3) 10:15 Stock Review – Biotech: XBI (ETF), RVNC, VTYX, BTAI, RAPT, AMLX, AXSM, VRNA
4) 14:30 Stock Review – Semiconductors: SMH (ETF), PI, ACLS, ALGM, CRUS, MPWR, LSCC, AEHR, MBLY
5) 18:30 Stock Review – Software: AYX, ESTC, AI, OSPN, TENB, PANW
6) 23:00 Stock Review – Watch List/General Ideas/Commentary: WING, URI, SGML, TMDX, TDW, SLB, DECK, ANET, AXON
7) 28:35 Conclusion/Summary

Market Summary:
In this video, I review a summary of the price action since the beginning of the year. We started with a follow through day on January 6th and the strength continued into February. Around mid-February, I discussed five reasons to expect weakness over the second half of the month. When we got that decline, I observed a few positives: 1) The pullback was on light volume and down to a logical support level. 2) Bullish sentiment started to come down. 3) Many growth stocks were holding up well. This led me to send out the Market Note to Members earlier this week (Tuesday morning). The purpose of the Note was to discuss these positive developments and let members know that I would be increasing my investment levels into a higher probability situation. Specifically, into March and April which are traditionally and statistically two favorable months for the markets.

During the week, I increased my levels from approximately 45% to 75% invested. Besides increasing a few individual stock positions, I started a 10% position in both MDY (the S&P 400 MidCap ETF) and SMH (the Semiconductor ETF) to give me broader exposure. From here, I’m going to do my best to manage risk. I realize there are still many Macro headwinds, but I am pleased with my strong entry points and can always cut losses if I’m wrong. As always, I will take this day-by-day and update you in these videos. If there’s anything important in between videos, I will send out additional Market Notes. Thank you and enjoy the remainder of your weekend.

Unusual Option Activity:
3/3/23 Nasdaq 100 ETF (QQQ) seeing 5000 March 14th $290 puts sell to open at $2.46
3/3/23 Oil & Gas ETF (XOP) seeing 6100 April $130 puts sell to open $3.24, adjusting the $120 short puts
3/3/23 Tesla (TSLA) sweep buyer 1500 March 31st (W) $215 calls for $6.45 offer
3/3/23 Schlumberger (SLB) with 2500 August $40 puts sold to open $1.00
3/3/23 Diamondback Energy (FANG) opening sale of 3700 April $137.85 puts at $3.60 down to $3.40
3/3/23 Protagonist Therapeutics (PTGX) small cap Bio seeing 1000 April 17.50 calls bought up to $2.40 as March calls sell
3/3/23 Reata Pharma (RETA) opening sale of 1000 April $105 calls for $2.40
3/3/23 Albemarle (ALB) opening put sale for 1200 Jan 2025 $230 puts sold for $36.20, adjusting the Sept $270 short puts
3/3/23 Apple (AAPL) opening sellers 10,000 Mar. 10th (W) 146 puts for 1.05
3/3/23 Qualtrics (XM) opening seller 1000 April $17.5 puts $1.40 with M&A talks
3/3/23 Advanced Micro (AMD) buyers 4000 March $83 calls $1.78 for a short-term view, at MSCO Conference 3-6
3/3/23 Palo Alto (PANW) buyer 1000 April $195/$210 call spreads
3/3/23 Nvidia (NVDA) opening seller 2000 June $162.50 puts for 3.25
3/3/23 Crowdstrike (CRWD) with 1070 January 2025 $210 calls bought $15.30 offer
3/3/23 Crowdstrike (CRWD) also with 1200 October 80 puts sold to open 3.85 bid
3/3/23 Amazon (AMZN) buyer 2500 August $110 calls $4.50 to $4.55
3/2/23 Nasdaq 100 ETF (QQQ) spreads sold 10,000 April $265 puts and bought 10K April 300/315 call spreads
3/2/23 Nasdaq 100 ETF (QQQ) also buyer 3100 Mar. 24th (W) $290 calls and 4000 of the $292 calls in block trades
3/2/23 Biotech ETF (XBI) spreads selling 6000 April 75 puts and buying 6000 of the $84/$90 call spreads
3/2/23 Homebuilders ETF (XHB) opening seller 3300 June $65 puts for 3.30
3/2/23 Disney (DIS) buyer of 800 April 6th $95 calls at $5.60
3/2/23 Sigma Lithium (SGML) opening seller of 1000 June $25 puts at $1.00 bids
3/2/23 Valero (VLO) with 1300 Sept $95 puts sold to open for $2.35
3/2/23 Reata Pharma (RETA) opening sale 1000 April $95 calls for 4.80
3/2/23 ON Semi (ON) with 4000 March 70 puts selling to open 1.50 into weakness
3/2/23 Nvidia (NVDA) next week 220 ITM calls very active w/ buyers today 5000X
3/2/23 Albemarle (ALB) another 1000 June 240 puts sell to open 17.50
3/2/23 Apple (AAPL) buyer 3000 June 2025 $145 puts $19.10 as January 2025 $150 adjust
3/2/23 Amazon (AMZN) opening sale of 2000 April 14th $95 calls for $3.44
3/2/23 Amazon (AMZN) also large sweep buyer 10,000 March 24th (W) $85 calls $7.45+
3/2/23 Splunk (SPLK) buyer on weakness of 2100 August $150 calls at $1.70