Topics covered:
1) 0:00 Announcements
2) 0:30 Market Commentary and Index Review (Nasdaq Composite, S&P 500, and Russell 2000)
3) 7:10 FOCUS LIST: NVDA, MSFT, ORCL, WING, RVNC
4) 12:45 Stock Review – Semiconductors and Software: AMD, AVGO, ASML, CRM, PANW, FTNT, DUOL
5) 15:00 Stock Review – Biotech: XBI (ETF), AXSM, IMCR, VKTX, TERN, ETNB, MDGL, KRYS, PTCT, ITCI, TGTX, VRNA, CBAY, APLS, INZY, BMEA
6) 20:45 Stock Review – Watch List/General Ideas/Commentary: CELH, SWAV, PODD, DXCM, TMDX, INSP, ONON, DECK, TXRH, ITB (ETF)
7) 24:40 Stocks near buyable ranges: SGML, MDGL, ABOS
8) 28:55 Conclusion/Summary

Market Summary:
In this video, I review the positives and negatives I discussed in the MidWeek Video. Positives: 1) The Nasdaq Composite and S&P 500 are strong. 2) Many growth stocks are acting well. 3) Sentiment is fairly muted. 4) The Fed is done raising rates for the year. Negatives: 1) Overall breadth, specifically the Russell 2000 (IWM) and MidCap 400 (MDY) are still weak. 2) Regional Bank problems. 3) Many sectors remain weak such as Financials and Energy. Conclusion: I am going to stick to the 5 bullet points I have outlined in many recent videos. I still think we will see volatility, but I don’t see any SUSTAINED downside because there’s no heavy distribution, the indexes are pulling back to logical areas of support, and sentiment gets negative quickly on these drops.

One thing I remind members of in this video is that it’s ok to speculate, just do it with a smaller portion of your portfolio. A larger portion should be allocated to the stronger, institutionally supported stocks and/or ETFs. Also, remember to take a step back and use weekly charts, as this market will continue to test people’s patience. If you have any questions, you can ask them during the next webinar which will be this Monday, May 15th at 7PM EST. Thank you and enjoy the remainder of your weekend. Happy Mother’s Day to all the AMAZING Mom’s out there. Thank you for making this world a better place. If you’re a member who forgot it’s Mother’s Day, you’re welcome for the reminder.

Unusual Option Activity:
5/12/23 Nasdaq 100 ETF (QQQ) early buyer of 14,000 June $330 calls at $6.29 offer, over $8.8M
5/12/23 S&P 500 ETF (SPY) seeing large buyers of over 10,000 July $392 puts for $5.18, adjusting $390 puts
5/12/23 Energy ETF (XLE) sale to open 3000 September $78 puts $4.60
5/12/23 Oil & Gas ETF (XOP) with 3800 January $90 puts sold to open 4.90
5/12/23 Nike (NKE) with 1800 September $125 calls selling to open near 6.95
5/12/23 Tesla (TSLA) seeing early sweep buyers for 2000 January $200 calls at $23.05
5/12/23 Tesla (TSLA) also seeing 500 June 30th $170 calls sell to open $15.85
5/12/23 Ulta (ULTA) large buy 5000 Jun $450 puts $4.80 offer
5/12/23 Estee Lauder (EL) buyer of 490 October $220/$190 put spreads for $16
5/12/23 Stryker (SYK) with a large buyer of 2600 Sept $300 calls at $9.90 to $10
5/12/23 Starbucks (SBUX) another 2000 of the October $110 calls buying for $5.90, over 6k now on day
5/12/23 Viking Therapeutics (VKTX) buyer 400 July $29 calls $3.15
5/12/23 Eli Lilly (LLY) sale to open 400 June $440 puts for 13.10
5/12/23 TG Therapeutic (TGTX) seeing 360 January $40 ITM puts sell to open $12.70, very bullish
5/12/23 Amylyx Pharma (AMLX) buyers of 3200 August $40 calls for $0.55 to $0.80 with the stock at 27
5/12/23 Crispr Therapeutics (CRSP) 2000 Jan $65 puts sold to open at $12.65 to buy the $75/$85 call spreads for $2.40
5/12/23 Salesforce (CRM) with another 2200 Nov $150 puts selling to open 3.75 bids, similar to trades on 5/11
5/12/23 Snowflake (SNOW) with 400 Jan 2025 $170 puts opening over $1.5M as Jan 2024 $195 adjust
5/12/23 Google (GOOGL) big bull play sells 5000 June 30th (W) 116 puts to open $3.80
5/12/23 Google (GOOGL) also seeing a block of 4000 August $100 calls bought $20.46
5/12/23 On Semi (ON) with 2750 June 23rd $67 puts sell to open $0.75
5/12/23 Broadcom (AVGO) seeing a massive buyer of 1250 October $680 calls for $26.80 to $28
5/12/23 Nvidia (NVDA) 800 Dec 2025 $325 deep ITM puts sell to open for $92.22, adjusting $355 short puts, often a strong bull signal
5/11/23 S&P 500 ETF (SPY) August $408 puts popular with 7000X bought for $9M, spot where 3K added 4/28
5/11/23 Nasdaq 100 ETF (QQQ) large opening sale 4000 August $325 puts for 13.14
5/11/23 Regional Banks ETF (KRE) with 4350 January $35 calls bought $6.05 as some $50 calls adjust
5/11/23 McDonalds (MCD) with 2000 June 290/275 put spreads bought
5/11/23 Pepsi (PEP) with 1250 June $195 puts bought in sweep offers at $3.60
5/11/23 Netflix (NFLX) with 300 Dec. 2025 $310 puts sold to open 56.50 to 54.85
5/11/23 Schlumberger (SLB) buyer 1500 June $45 calls $1.90
5/11/23 Diamondback Energy (FANG) buyer 1220 June $117.85 puts $2.60
5/11/23 Marathon Oil (MRO) with 1000 January 2025 $23 puts bought $4.85
5/11/23 Eli Lilly (LLY) buyer 200 June 2024 $500 calls $29.55
5/11/23 ImmunoGen (IMGN) more bull flow as 1500 June $14 puts sell to open 1.20 to 1.15
5/11/23 Amazon (AMZN) seeing over 4000 June 9th $112 puts sell to open $4.10 sweep bids
5/11/23 Apple (AAPL) with a buyer of 11,500 December $135 puts at $2.82, over $3.3M
5/11/23 Apple (AAPL) also 2000 December $165 puts bought 9.20 offers
5/11/23 Apple (AAPL) also 5000 Oct. 205 calls sell to open 1.61
5/11/23 Google (GOOGL) with 15,000 July $120 puts selling to open 6.80
5/11/23 Microsoft (MSFT) buyer 3000 August $310 calls $17.50 as June $300 adjust
5/11/23 Nvidia (NVDA) seeing sweep buyers for 500 July $320 calls at $10.70 here midday
5/11/23 Micron (MU) offer buy flow in July $65 calls 4000X near $2.52
5/11/23 Super Micro (SMCI) seeing another 2000 of the August $190 calls with buyers paying $5.30