Topics covered:
1) 0:00 Announcements
2) 0:40 Market Commentary and Index Review (Nasdaq Composite, S&P 500, and Russell 2000)
3) 7:00 FOCUS LIST: NVDA, MSFT, NOW, UBER, LLY, NVO, VRTX, WING, PANW, CRWD
4) 13:25 Stock Review – Software: IGV (ETF), CDNS, ADBE, CRM, DDOG, WDAY, ESTC
5) 15:20 Stock Review – Semiconductors: SMH (ETF), TSM, AVGO, LRCX, KLAC, AMD, MRVL, ARM
6) 17:20 Stock Review – Biotech: XBI (ETF), ACAD, MGNX, VKTX, MDGL, MRUS, AXSM, KRYS, INBX, IMCR
7) 23:20 Stock Review – Watch List/General Ideas/Commentary: META, NFLX, DELL, SMCI, VRT, DECK, CLS, FN, CAMT, ANET, ISRG, RXST, PRCT, BKNG, CAVA, CELH
8) 28:30 NEW STOCK IDEA: SNAP
9) 29:15 Conclusion/Summary

Market Summary:
The two “2024 Preview Videos” I posted at the end of December and last week both have the same theme: “Strength tends to lead to more strength.” I feel that 2024 will be a strong year with drawdowns in the 3-7% range, rather than the average -14% intra-year decline. Three comments: 1) Does this mean we will go straight up? OF COURSE NOT! 2) Do I have the right to change my mind if the facts change? OF COURSE! 3) Should you throw all risk management out the window? ABSOLUTELY NOT! Just because I’m expecting a continued Bull Market doesn’t mean that every trade is going to work.

The second main theme is: “Use the 21-day as your guide.” If an index, ETF, or stock is extended from that level, don’t be surprised if it sees a pullback. If we are near that level, that could provide for a safer entry point, but also be open-minded that things could continue to correct down to their 50-day moving average. That’s where using lighter positions and scaling into things can help. Short-term, the major indexes are slightly extended from their 21-day moving averages. It wouldn’t surprise me to see some minor, end-of-the-month profit taking, but if this happens, I will be looking to put money to work into some of the Focus List names. If you have any questions, you can ask them during the next webinar which will be this Monday, January 29th at 7PM EST. Thank you and enjoy the remainder of your weekend!

Unusual Option Activity:
1/26/24 Russell 2000 ETF (IWM) seeing a block of 10,000 April $188 puts sell to open at $3.54 as the Feb $180 and March $176 short puts adjust
1/26/24 Nasdaq 100 ETF (QQQ) seeing 3750 Feb/March $426 put calendars buy for $2.67, looking for rangebound
1/26/24 Nasdaq 100 ETF (QQQ) also a buyer of 10,000 March $405/$385 put spreads at $1.96, nice hedge for Tech earnings season
1/26/24 Tesla (TSLA) bull trade opens 1800 May $230/$160 bull risk reversals for a credit of $1.70
1/26/24 Lululemon (LULU) buyer 200 April $450 calls for $44
1/26/24 Celsius Holdings (CELH) large buyer 750 October $55 puts or $10.55
1/26/24 Dave & Buster’s (PLAY) buyer of 1000 April $55/$70 call spreads at $2.92
1/26/24 Netflix (NFLX) 1600 Jan 2026 $890 calls bought near $40.65 as Jan 2025 $660 adjust
1/26/24 Netflix (NFLX) also buyers of 1000 March $585 calls at $21.65 to $22.30
1/26/24 Papa Johns (PZZA) with 4885 March 67.5 puts sold to open 0.90 to 0.85
1/26/24 PayPal (PYPL) 6050 March 1st (W) $51 puts sell to open 0.50
1/26/24 Cytokinetics (CYTK) 1000 April $60 puts sell to open at $2.45 to buy the $90/$105 call spreads for $5.15
1/26/24 Ironwood Pharma (IRWD) buyer 2000 April $17.5 calls $1.25
1/26/24 UnitedHealth (UNH) buyers of 2000 March 1st $500 calls at $13.15 to $13.35
1/26/24 Pfizer (PFE) block of 3250 July $25 puts sell to open $0.83 bids
1/26/24 Vertiv Holdings (VRT) opening sale 1000 January 2025 $30 puts $1.35
1/26/24 Marvell Tech (MRVL) buyers 3800 April $80 calls, name seeing tons of call buys
1/26/24 Advanced Micro (AMD) with 1000 Jan 2026 $150 puts sell to open at $24.74
1/26/24 Super Micro Computer (SMCI) buyer 200 Jan 2026 $400 calls for $204.40
1/26/24 Arm Holdings (ARM) size buys continue in January 2026 calls with 4000 of the $75 today $23.95 to $24.40 for $9M
1/26/24 Nvidia (NVDA) size buys early 3000 May $770 calls $13
1/26/24 Nvidia (NVDA) seeing buyers of over 8000 Feb $640 calls at $12.85 up to $13.70 in large blocks
1/26/24 Nvidia (NVDA) also with 5000 Feb 23rd $500 puts sell to open at $2.46
1/26/24 Apple (AAPL) seeing 1000 June 2025 $260 / $165 bull risk reversals open for $4.31 credit, willing to be long at 165 long term
1/26/24 Snowflake (SNOW) buyer 750 March 1st (W) $2095 calls $13.25 offer
1/26/24 Broadcom (AVGO) large opening sales for 400 Jan 2025 $1200 puts at $125.90
1/25/24 S&P 500 ETF (SPY) buyer of 2250 April $487 calls at $13.78, adjusts $496 calls
1/25/24 S&P 500 ETF (SPY) also an opening seller of 2400 May $488 calls at $16.77, adjusts the $500 short calls
1/25/24 S&P 500 ETF (SPY) August $455 puts selling to open 5000X at 7.97 bids
1/25/24 S&P 500 ETF (SPY) buyer 2000 May 31st (W) $491 calls $15.35 size trade this afternoon
1/25/24 Emerging Markets ETF (EEM) with 50,000 September $40/$46 call spreads bought
1/25/24 Uber (UBER) with buyers 12,000 March $70 calls up to $1.95
1/25/24 Shopify (SHOP) 1000 July $90 calls buy $8 to $8.05
1/25/24 Occidental Petro (OXY) opening sale 500 August $57.50 puts $4.10
1/25/24 Baker Hughes (BKR) with 11,000 Feb. 28 puts sold to open 0.20 to 0.15
1/25/24 ConocoPhillips (COP) seeing 2500 Feb 23rd $112 calls buy at $2.56 as $110 calls adjust
1/25/24 Exxon (XOM) with buyers 3000 May 110/120 call spreads
1/25/24 Bristol Myers (BMY) opening sale 1000 Jan. 2026 $47 puts for $5.55
1/25/24 CymaBay Therapeutics (CBAY) unusual upside buyer 2000 April $30 calls $0.65 to $0.70
1/25/24 Caterpillar (CAT) seeing some buyers of Feb 9th $300 calls at $8.20 to $8.45, nearly 600x, captures earnings 2/5
1/25/24 Vertiv Holdings (VRT) aggressive buy 1500 March 1st (W) $54 calls at $3.70 offers
1/25/24 Vertiv Holdings (VRT) also size buyer 4000 February $54/$59 call spreads
1/25/24 Nvidia (NVDA) 100 September $635 puts sell to open 79.80
1/25/24 Nvidia (NVDA) buyer 1900 March $650/$720 call spreads
1/25/24 Nvidia (NVDA) late day buyers of 720 January 2025 $740 calls at $63.60 to $66, over $4.5M
1/25/24 Meta (META) buyers of 1100 July $400 calls at $37.90
1/25/24 Microsoft (MSFT) seeing 1150 each of the March 1st (W) $405 and $410 calls bought
1/25/24 Microsoft (MSFT) seller to open 10K April $350 puts 2.58 to 2.56
1/25/24 Marvell Tech (MRVL) seeing 11K April 72.50 calls bank profits while 2500 of the $80 calls bought to open
1/25/24 Super Micro Computer (SMCI) large buy 1000 March 1st (W) $480 calls for $4.8M
1/25/24 Amazon (AMZN) 1500 May $155 puts sell to open $8.48 in adjustment
1/25/24 Taiwan Semi (TSM) buyer of 500 June 2025 $125 calls at $15
1/25/24 Adobe (ADBE) buyers of 1200 Feb $590 ITM calls for $40 to $43