Seasonal statistics on late June/early July: https://twitter.com/ukarlewitz/status/1670119283391893504

Topics covered:
1) 0:00 Announcements
2) 0:20 Market Commentary and Index Review (Nasdaq Composite, S&P 500, and Russell 2000)
3) 6:25 UPDATED FOCUS LIST: NVDA, MSFT, ORCL, CDNS, ISRG, CELH, LLY, PANW, NOW, TSLA
4) 10:45 Stock Review – Semiconductors: SMH (ETF), AVGO, LRCX, ASML, MRVL, AMD, ACLS, AEHR
5) 13:45 Stock Review – Software: IGV (ETF), CRM, AI, DT, FTNT, SNOW
6) 15:05 Stock Review – Biotech: XBI (ETF), AXSM, VKTX, TERN, ETNB, KOD, KRYS, PRTA, RVNC, ABOS
7) 21:40 Stock Review – Watch List/General Ideas/Commentary: WING, CMG, SWAV, DXCM, LNTH, TMDX, SDGR, RXST, QTRX, ONON, DECK, SHAK, SHOP, ITB (ETF), LEN, DHI, PHM, KBH, TOL, BZH
8) 26:00 Conclusion/Summary

Market Summary:
In this video, I review the recent price action. I outlined the reasons to expect a pullback after the week of June OpEx and how that weakness could continue into this week (based on the seasonal statistics). During this recent pullback, I noticed that: 1) It occurred on light volume. 2) Both the Nasdaq Composite and S&P 500 found support at a logical level (21-day EMA). 3) The leading growth stocks were mostly intact. In other words, my interpretation is that this pullback was orderly and fairly normal within the overall uptrend. What you should do during these pullbacks depends on your timeframe and overall investment objectives. Either way, make sure to get those strong entry points, as they can help you deal with the normal volatility along the way.

As I’ve mentioned in recent videos, this is one of those 2-3 times a year that the market is healthy. Stay focused, stay mentally tough, and do your best to take advantage of it. I discuss how some of the Biotechs have been a let down recently, so I decided to significantly reduce my exposure to this sector. I’ve always said that it’s ok to speculate with a small portion of your portfolio, but make sure the larger part is focused on quality ETFs and true market leaders. For example, this week I got stopped out of a few biotechs and rotated into some of the Focus List stocks that were near their 21-day support.

From here, I am going to keep it simple. I am currently 75% invested and focused on the leaders. We are heading into a seasonally strong time of the year, and new money tends to flow into the market at the beginning of the month/quarter. Will we have normal pullbacks and shakeouts along the way? Of course! However, overall, I remain bullish and will stick with this uptrend over the near-term. Thank you and good luck for the remainder of the week.

Unusual Option Activity:
6/28/23 Tesla (TSLA) 1500 July $295 calls bought for $4.54, spreading against the $325 calls at $1.75
6/28/23 Tesla (TSLA) buyers of 1300 July 28th $270 calls at $11.75 to $12.75
6/28/23 Tesla (TSLA) also buyer 1175 March $441.67 calls for $8.85 offer
6/28/23 Tesla (TSLA) size seller to open 2000 July 14th (W) 252.50 puts 9.75 bid ahead of quarterly delivery number
6/28/23 BJ’s Wholesale Club (BJ) opening seller 3000 January $50 puts $1.20
6/28/23 General Motors (GM) late day buyer 10,000 July $39 calls for 0.72
6/28/23 Netflix (NFLX) large block ITM August $415 calls bought $35.80
6/28/23 Chevron (CVX) buyer 1200 July 14th (W) 152.5 calls 2.92
6/28/23 Occidental (OXY) buyer 2600 December $60/$65 call spreads for $1.88
6/28/23 Devon Energy (DVN) with 1550 January $35 deep ITM calls bought for $13.85
6/28/23 Pfizer (PFE) with 1500 March $30 puts sold to open at $0.74
6/28/23 Biogen (BIIB) with 450 July $285 calls bought $7.50 to $7.70
6/28/23 Stryker (SYK) seeing 1450 July $300 calls bought $5.40
6/28/23 Lennar (LEN) trading 3500 August $135/$115 bull risk reversals for $0.43
6/28/23 Toll Brothers (TOL) with 1500 August $85/$70 bull risk reversals open at $0.40 debits
6/28/23 Enovix (ENVX) with 2000 January 2025 7.50 ITM calls bought $10.50+
6/28/23 Micron (MU) opening seller 1100 December $50 puts 1.34
6/28/23 Lam Research (LRCX) buyers 1800 July 7th (W) $700 calls
6/28/23 Nvidia (NVDA) large buyer of 1100 July 14th $300 deep ITM calls for $107.40 to $112.80, over $12M.
6/28/23 Amazon (AMZN) buyers in July 14th (W) $133 calls 3000X
6/28/23 Snowflake (SNOW) seeing a large opening sale of 2000 January $225 calls for $16.75
6/27/23 S&P 500 ETF (SPY) Aug $412 puts open 35,000X and Russell (IWM) Aug $174 puts 40,000X as hedges adjust strikes again
6/27/23 Oil & Gas ETF (XOP) buyer 2200 August 122/111 put spreads for $2.87
6/27/23 Tesla (TSLA) with 1250 March $416.67 calls sold to open for $9.20
6/27/23 Tesla (TSLA) also seeing over 1900 Sept $346.67 calls bought at $3.25 offers in fairly large lots
6/27/23 Diamondback Energy (FANG) with 1600 Aug $145 calls sell to open $1.15 bids
6/27/23 Tidewater (TDW) with 5000 January $55 calls opening $4.70 as July $55 call winner adjusts
6/27/23 Exxon (XOM) with 10K August 110 calls bought as July adjust out
6/27/23 Visa (V) with 1000 July $227.50 puts sell to open for $3.48, adjusting the $225 short puts
6/27/23 TG Therapeutics (TGTX) with 1000 Nov $25/$20 bull put spreads sold to open for $2.65
6/27/23 Amgen (AMGN) large block sells to open 5000 August $205 puts at $1.85
6/27/23 Lennar (LEN) opening seller 700 Jan. 2025 $100 puts down to 7.40 bids
6/27/23 Pulte (PHM) opening seller 500 January 2025 $60 puts 4.20
6/27/23 Amazon (AMZN) buyers coming for 10,000 Sept $145 calls 2.69 to 2.78
6/27/23 Amazon (AMZN) opening sales of 1600 August 4th $121 puts at $2.83, adjusting July 14th short puts
6/27/23 Amazon (AMZN) also with 8000 November $150 calls bought $4.25 offer
6/27/23 Palo Alto (PANW) with 1700 August $260 calls bought $7.40 to $8.10
6/27/23 Nvidia (NVDA) with 2800 Jan 2025 $780 calls bought for $23.70
6/27/23 Nvidia (NVDA) seeing buyers for 1300 July 14th $415 calls at $11.15 to $12.45
6/27/23 Nvidia (NVDA) March $370 puts sold to open for $2.75M premium
6/27/23 Micron (MU) buyer 1000 July $64.50 calls $3.20 offer into earnings
6/27/23 Alphabet (GOOGL) with more than 4500 Jan 2025 $130 calls bought $15.90 to $16.05
6/27/23 Snowflake (SNOW) with 500 June 2024 $160 short puts opening $25.60
6/27/23 Meta (META) buyers of 2000 Jan $305 calls at $29 while spreading vs sales of the Dec $310 calls at $24, net debit of $5M
6/26/23 Nasdaq 100 ETF (QQQ) with 6500 Oct $360 puts sold to open for $13.94, adjusting Jan $320 short puts higher
6/26/23 Nasdaq 100 ETF (QQQ) also with 25,000 March 2024 $320 puts sold to open for $27M premium
6/26/23 Russell 2000 ETF (IWM) with 3250 June 2025 180 puts sod to open 15.52
6/26/23 Tesla (TSLA) buyer 1000 July $257.5 calls $16.65+ also seeing 2500 July 14th (W) $250 calls bought for $3M+
6/26/23 Best Buy (BBY) buyer 1500 August $85 calls $1.64 offer
6/26/23 Chevron (CVX) with 2000 July 7th (W) $150 calls bought today up to $4
6/26/23 Pulte (PHM) buyers hot early for 2950 August $80 calls $2.20 to $2.50
6/26/23 Toll Brothers (TOL) buyers of 2000 August $80 calls up to $1.45, also paired with $65 short puts in bull risk reversals
6/26/23 DR Horton (DHI) with 2800 Aug $125/$105 bull risk reversals opening, third homebuilder with bull August flow today
6/26/23 Snowflake (SNOW) with 1100 July 14th (W) $185 calls bought $7.50+
6/26/23 Oracle (ORCL) buyer 1100 December $115 calls $11.65 offer
6/26/23 Micron (MU) buyers 1750 July $68 calls $2.20 into earnings
6/26/23 Nvidia (NVDA) buyers 400 January 2025 $505 calls $70.55 to $71.10
6/26/23 Palo Alto (PANW) buyer of 874 August $280 calls at $2.55, adjusting June 30th $245 calls
6/26/23 Palo Alto (PANW) also a large buyer of 1500 Sept $260 calls at $10.65 to $12.95
6/26/23 Meta (META) seeing a midday buyer for 3500 July 14th $280 calls at $9.50
6/26/23 Amazon (AMZN) buyers of 2000 July 28th $131 calls at $6.10 offers, follows Friday action and captures earnings 7/27