Topics covered:
1) 0:00 Announcements
2) 0:45 Market Commentary and Index Review (Nasdaq Composite, S&P 500, and Russell 2000)
3) 3:40 FOCUS LIST: NVDA, MSFT, ADBE, NOW, UBER
4) 6:05 Stock Review – Big Pharma/Biotech/Medical Products: NVO, LLY, VRTX, XBI (ETF), MDGL, ITCI, IDYA, IMVT, INBX, APLS, ABOS, IMCR, RXST
5) 9:55 Stock Review – Software: IGV (ETF), CDNS, PANW, CRWD, ZS, QLYS, CRM
6) 11:50 Stock Review – Semiconductors: SMH (ETF), AVGO, KLAC, LRCX, AMD
7) 12:35 Stock Review – Watch List/General Ideas/Commentary: VRT, CLS, Z, CELH
8) 14:35 Conclusion/Summary

Market Summary:
I first want to wish all the members a Happy New Year! Warmest wishes you and your families for a happy, healthy, and prosperous 2024! The biggest question on everyone’s mind is if today’s decline is the beginning of a bigger sector rotation or just a normal pullback? My honest answer is it’s too early to tell. I certainly don’t panic over one down day, and my instincts tell me this is just a normal pullback so far. While going through my screens, I noticed many leading stocks found support near their 21-day EMAs and the major indexes did as well. If I could summarize my thoughts in one sentence it would be: I want to be patient and see how things react around their 21-days. In other words, will the selling slow down, will things bounce higher, or will the selling follow through to the downside. Again, it’s too early to tell and I’m going to take things day-by day.

I’m still approximately 80-90% invested because I have decent entry points on many of my positions, and I still think we will see strength into mid-January. If the selling continues later this week, I will likely reduce any positions that have decisive closes below their 10-week moving averages. I’m not complacent by any means. I just don’t get overly concerned until we see a cluster of distribution days. If you have any questions, you can ask them during the next webinar which will be this Saturday, January 6th at 11AM EST. Thank you and good luck for the remainder of the week.

Unusual Option Activity:
1/2/24 S&P 500 ETF (SPY) with 4700 June 28th (Q) $455 puts bought at $10.45, over $5M
1/2/24 Nasdaq 100 ETF (QQQ) with 8500 Feb. $377.50 puts sold to open for 2.46
1/2/24 Nasdaq 100 ETF (QQQ) also a block of 5500 September $400 puts sold to open $21.02
1/2/24 Consumer Discretionary ETF (XLY) large buy of 1500 Jan 2025 $160 puts at $7.00
1/2/24 Regional Banks ETF (KRE) with 5000 June $52 puts bought $3.50 to $3.55
1/2/24 Tesla (TSLA) buyers hot early for February $255 calls 6000X
1/2/24 Tesla (TSLA) also seeing 2500 February $120 deep ITM calls open
1/2/24 ON Holding (ONON) seeing 4400 Jan $27 puts sell to open
1/2/24 Shopify (SHOP) with 1000 Sept $80 calls bought $11.95 to $12
1/2/24 Shopify (SHOP) 5000 Feb. 2nd (W) $64 puts sell to open 0.55
1/2/24 Uber (UBER) 4860 Feb 9th (W) $52 puts sell to open $0.63 also seeing Feb. $50 opening put sales
1/2/24 Uber (UBER) large opening sales of 4700 March $60 puts at $4.35 as the $50 short puts adjust
1/2/24 Uber (UBER) also seeing 5000 January $59 puts sell to open
1/2/24 Starbucks (SBUX) buyers of 1200 June $95 calls at $6.15
1/2/24 Zillow (Z) buying in 450 May $62.50 calls at $4.90, 600 June $62.50 calls at $5.60, and 390 August $62.50 at $6.80
1/2/24 Zillow (Z) massive buy of 51,250 May $65 calls $4.35 as size Feb. 45 calls adjust
1/2/24 Citigroup (C) with size buys 10,000 Sept $55 calls bought $3.75 offers
1/2/24 Immunocore (IMCR) unusual far OTM Jan $80 calls bought 2500X late day sending IV way higher
1/2/24 Cytokinetics (CYTK) with buyers of 1100 February $100 calls up to $5.60
1/2/24 AstraZeneca (AZN) opening sale 2050 April 60 puts for 0.75
1/2/24 Pfizer (PFE) large buy 950 Dec. 2025 $20 ITM calls 10.45
1/2/24 Amgen (AMGN) 200 January 2026 $250 calls opening ITM for $1.42M
1/2/24 Amgen (AMGN) also 400 Jan. 2026 $195 puts sold to open 7.05
1/2/24 AbbVie (ABBV) with 500 January 2026 $160 puts sold to open $18.05 to $18
1/2/24 Bristol Myers (BMY) with 1000 February 2nd (W) $54 puts sold to open 2.54
1/2/24 Boeing (BA) size March $255 calls open 1400X at $11.95
1/2/24 Microsoft (MSFT) with large buys for 1400 April $360 ITM calls for $28.50, over $3.7M
1/2/24 Microsoft (MSFT) large opening sale of 1000 April $365 puts at $16.30
1/2/24 Microsoft (MSFT) also 1200 Feb 2nd (W) $390 calls bought $4.80
1/2/24 Amazon (AMZN) early large opening sales of 14,000 weekly Jan 5th $148 puts at $0.50
1/2/24 Amazon (AMZN) also with 2440 Feb 9th $135 puts sell to open at $1.77, captures earnings on 2/1
1/2/24 Adobe (ADBE) 1475 Feb $605 calls selling to open near 13.80
1/2/24 Celestica (CLS) opening sale 2000 June $37.5/$22.5 strangles for $2.16
1/2/24 Nvidia (NVDA) with 400 July $420 puts sold to open $27.10
1/2/24 MongoDB (MDB) with 900 Feb 9th $325 puts sell to open $3.20 to $3.15
1/2/24 Apple (AAPL) buyer of 3000 Jan $187.50 calls at $2.45 to $2.83 in some large blocks
1/2/24 Apple (AAPL) large opening sale 2000 June 2025 $185 puts at $16.75 bids
1/2/24 Apple (AAPL) also 2025 Jan. 2026 $185 puts sell to open $19.30
1/2/24 Super Micro Computer (SMCI) large buyer of 200 Jan 2025 $290 calls at $73.50 to $74.30
1/2/24 Super Micro Computer (SMCI) also 350 May $280 puts sell to open at $41 to $40
1/2/24 Advanced Micro (AMD) trade opens 1500 Jan 2025 $230/$110 bull risk reversals for a credit for $3.67