CNBC appearance from Friday, March 17th: https://www.youtube.com/watch?v=QAmxVgWud5I

Topics covered:
1) 0:00 Announcements
2) 0:40 Market Commentary and Index Review (Nasdaq Composite, S&P 500, and Russell 2000)
3) 8:30 Stock Review – Semiconductors: SMH (ETF), NVDA, AMD, ACLS, ALGM, LSCC, CRUS, PI, MBLY, AEHR, ON
4) 12:50 Stock Review – Software: PANW, AI, AYX, TENB, CDNS, ALTR, MODN
5) 17:00 Stock Review – Biotech: XBI (ETF), RVNC, CBAY
6) 18:30 Stock Review – Watch List/General Ideas/Commentary: SGML, WING, TXRH, FSLR, TMDX, LNTH, PODD, AXON, PERI, ANET, FOUR, ASO, INOD
7) 24:20 Conclusion/Summary

Market Summary:
Coming into this past week, I used the phrase: Defense until we get more clarity. There are still questions I would like more clarity on before increasing my investment levels. For example, are the problems with Silicon Valley Bank (SVB) contained to some of the regional banks, or are these problems going to spread into the banking system? What will the Fed do at their upcoming meeting this Wednesday? Prior to the SVB news, they were very hawkish, but now they have to consider if further interest rate hikes might hurt the banking system. This past week, the market was trying to figure out the Fed’s next move and repricing everything based on a potential slow down in rate hikes.

Overall, when you consider a big bank failing, the market’s reaction to the news this week was fairly strong. The bond market held in well, especially when you consider the big drop in interest rates. The Nasdaq Composite had a great week on strong volume, and I discuss some of the reasons why in this video. However, we still need to be patient. It’s possible that the strength this past week had to do with options expiration (OpEx) and sentiment. Looking ahead to the next two weeks, we still have to deal with the week after OpEx (which tends to be weak), this Wednesday’s Fed meeting, and end-of-the-quarter rebalancing. Bottom line: All these events could lead to higher volatility, so I prefer that members remain defensive and keep positions light until we get more clarity.

Half of me wants to look at the positives: Strong Nasdaq, bearish sentiment, and large put writing on KRE (the Regional Bank ETF), but the other half of me can’t be blind to the negatives: S&P 500 below its 200-day, uncertainty with the banking system, and uncertainty about the Fed’s next move. Whenever there’s a mixed picture, I will always lean defensive to protect members. I am currently 25-30% invested. Ultimately, your investment levels and decisions should be based on your own overall plan. If you have any questions, you can ask them during the next webinar which will be this Monday, March 20th at 7PM EST. Thank you and enjoy the remainder of your weekend.

Unusual Option Activity:
3/17/23 S&P 500 ETF (SPY) with a large buyer of 80,000 April $374 puts for $4.20 to $4.98, adjusting the $372 puts as an ongoing hedge
3/17/23 Regional Banks ETF (KRE) seeing a large block of 25,000 June $38 puts sold to open at $2.25 in stock replacements, a strong vote of confidence
3/17/23 Tesla (TSLA) seeing a massive trade buy 5000 July $140 deep ITM calls aggressively for $51.60 offers, nearly $26M
3/17/23 Dicks Sporting Goods (DKS) large buyer here for 5000 May $125 puts at $2.50
3/17/23 Airbnb (ABNB) seeing some buyers of 1900 May $150 calls at $1.45
3/17/23 Credit Suisse (CS) with 5300 May $2 puts sold to open $0.60
3/17/23 Morgan Stanley (MS) opening sale of 10,000 June $95 calls for $2.13
3/17/23 Sarepta (SRPT) into weakness seeing 1250 April $110 puts sold for $2.60 to buy the May $145 calls at $5.55
3/17/23 Cameco (CCJ) buyers of 2000 April $25 calls at $1.27
3/17/23 Newmont (NEM) with 1600 June 2024 $65 calls bought $2.94
3/17/23 Microsoft (MSFT) staying green and seeing 6000 April 28th $300 calls bought for $5.00, captures earnings date 4/25
3/17/23 Microsoft (MSFT) also seeing over 7000 June $280 puts sold to open for $14.20
3/17/23 ON Semi (ON) opening sale of 1600 May $65 puts at $1.82
3/17/23 Advanced Micro (AMD) seeing a block of 20,000 July $70 deep ITM calls bought for $30.40
3/17/23 Alibaba (BABA) large buyer of 4000 December $85 calls for $12.80
3/17/23 Nvidia (NVDA) seeing buyers for 3000 January $450 calls at $7.15, far OTM calls but some large lots
3/16/23 S&P 500 ETF (SPY) with 40,000 April $374 puts bought today for $4.72, adjusting the $370 puts as a hedge
3/16/23 Ark Innovation ETF (ARKK) buyer 7500 May $33 puts at $1.30 into strength
3/16/23 Regional Banks ETF (KRE) stronger today and seeing a large buy of 25,000 January $52 calls at $3.50 to $4
3/16/23 Oil Services ETF (OIH) with 4000 June $235 puts bought at $14.40, adjusting the $300 puts down
3/16/23 Tesla (TSLA) seeing 1500 October $170 puts sell to open here at $25.51, Over $3.8M
3/16/23 Visa (V) with 2300 March 31st $205 puts bought at $3.15
3/16/23 Immunogen (IMGN) seeing 7000 May $4 calls bought at $1.30 and spreading some against sales of the $7 calls at $0.25
3/16/23 Cadence Design (CDNS) May 220 calls being bought for $6.50
3/16/23 Otis (OTIS) seeing 1373 May $82.50 calls sold to open $3.05, adjusts March short calls
3/16/23 Freeport McMoran (FCX) opening sale of 1000 June 2024 $33 puts for $5.60
3/16/23 Freeport McMoran (FCX) also a large opening sale of 10,000 May $41 calls at $1.10
3/16/23 Peabody Energy (BTU) with 4100 October $26 calls sold to open for $3.20, adjusting down the $33 short calls
3/16/23 Marvell (MRVL) large buyers of 3300 June $40 calls at $4 to $4.50
3/16/23 Amazon (AMZN) seeing buyers of 5000 March 31st $99 calls for $2.31
3/16/23 Amazon (AMZN) also a large buyer of 10,000 June $95 calls at $11.80 midday
3/16/23 Microsoft (MSFT) seeing 1250 April $275 puts sold to open $8.85
3/16/23 Microsoft (MSFT) also with 8000 April 6th $275 puts sold to open at $7.00 bids
3/16/23 Meta (META) buyers of 1000 July $215 calls at $15.95 today