Topics covered:
1) 0:00 Announcements
2) 0:35 Market Commentary and Index Review (Nasdaq Composite, S&P 500, and Russell 2000)
3) 6:45 FOCUS LIST: NVDA, MSFT, NOW, UBER, LLY, NVO, WING, PANW, CRWD, ISRG
4) 11:50 Stock Review – Software: IGV (ETF), CDNS, ADBE, CRM, WDAY, ESTC, ZS
5) 13:45 Stock Review – Semiconductors: SMH (ETF), AVGO, LRCX, KLAC, AMD, MRVL, ARM
6) 14:50 Stock Review – Biotech/Medical Products: XBI (ETF), ACAD, MGNX, VKTX, MRUS, AXSM, RXST, PRCT
7) 18:30 Stock Review – Watch List/General Ideas/Commentary: META, NFLX, DECK, VRTX, SMCI, VRT, CLS, CAMT, PSTG, NTAP, CELH
8) 22:55 Conclusion/Summary
Market Summary:
Here are the concepts I’ve discussed in many recent videos and in the two 2024 Preview Videos: 1) I am bullish over the next 6-12 months because of all the technical strength we saw from November through January. The institutions aggressively came back into the markets because of the new bull market powered by AI, and they are anticipating the Fed lowering rates this year. 2) Does that mean we will go straight up with no pullbacks? Of course not! That’s why I’ve also discussed the theme of “using the 21-day EMA as your guide.” 3) Stay focused on the best growth stocks/ETFs out there. 4) Get strong entry points and manage your trades based on your timeframe and overall investment plan. If you don’t have a plan, please continue to finetune it and work on one that fits your situation. 5) Manage risk and stick to your stops. Just because it’s a bull market doesn’t mean everything is going to work out.
Coming into this week, I mentioned that the Nasdaq Composite was 3.6% extended from its 21-day. I think the CPI report on Tuesday morning was just an excuse for the market to sell off and come down to its 21-day. I’m not complacent. I’m just not going to panic when it’s only two distribution days in the past month, and more importantly, many of the growth leaders continue to act well. From here, I’m going to keep my expectations muted over the next two weeks because the second half of February tends to be seasonally weak. As always, I will be open-minded and take this day-by-day. If you have any questions, you can ask them during the next webinar, which will be this Monday, February 19th at 11AM EST. Thank you and enjoy the remainder of your long weekend.
Unusual Option Activity:
2/16/24 Industrial ETF (XLI) buyers of 1800 March $119 puts at $1.54 to $1.80
2/16/24 Dollar General (DG) with 1600 April $140 puts selling to open at $8.40 to $8.20
2/16/24 Tesla (TSLA) buyer 400 September 2025 $360 calls $15.65 offer
2/16/24 Tesla (TSLA) also with a large buyer of 8000 March 1st $197.50 calls at $8.40 as the Feb $195 calls adjust
2/16/24 Elf Beauty (ELF) 1050 August 110 puts sold to open 3.10
2/16/24 Airbnb (ABNB) buyer 600 July $185 calls to open 5.30
2/16/24 Exxon (XOM) large trade sells to open 800 April $125 puts at $20.70
2/16/24 Cheniere Energy (LNG) opening sale of 2500 Mar 28th $150 puts at $1.67
2/16/24 Berkshire Hathaway (BRK.B) buyers 1650 March $415 calls $2.60 to $2.80
2/16/24 Berkshire Hathaway (BRK.B) also with buyers 1150 April $415 calls up to 6.70
2/16/24 Citigroup (C) buyers of 2000 Dec $55 calls at $5.75 offers
2/16/24 Shift4 Payments (FOUR) buyers of 1000 April $85 calls at $5 to $6.20, reports 2/27
2/16/24 Recursion Pharma (RXRX) buyers of 3000 March $20 calls at $0.45
2/16/24 SpringWorks Therapeutics (SWTX) buyers of 300 June $40 calls at $13.70
2/16/24 Eli Lilly (LLY) buyer 200 July $950 calls $14.75 offer
2/16/24 Eli Lilly (LLY) also buyer of 200 Jan $960 calls at $36.90 to $37.45 offers
2/16/24 Eli Lilly (LLY) also seeing buyers of over 1000 Jan $1100 calls at $19.50
2/16/24 Ascendis Pharma (ASND) 500 April $160/$130 bull risk reversals open at $6
2/16/24 Novo Nordisk (NVO) large buyers of 3000 April $125 calls at $5.50
2/16/24 Novo Nordisk (NVO) also with 1200 July $140 calls buying at $4.20 to $4.60
2/16/24 Viking Therapeutics (VKTX) 7000 March $48 calls buying $4.20 up to $6 as IV surges
2/16/24 Applied Materials (AMAT) buyer of 1000 April $220 calls $7.35 to $7.63
2/16/24 Applied Materials (AMAT) also buyer of 10,000 March $210/$230 call spreads
2/16/24 Apple (AAPL) 3000 June 2025 155 puts sell to open 6.81
2/16/24 Marvell Tech (MRVL) massive opening sale of 2600 June $70 ITM puts at $9.21
2/16/24 Marvell Tech (MRVL) also buyer of 3000 May $67.50 calls at $6.50 as the $75 calls adjust
2/16/24 Taiwan Semi (TSM) with 2400 April $130 puts sell to open $8.60
2/16/24 Veeva Systems (VEEV) large buyer of 1000 July $260 calls at $7.90, reports 2/29
2/16/24 Salesforce (CRM) buyer 2000 May $290 calls $20.70 as April adjust out a month
2/16/24 MongoDB (MDB) 1285 March 28th (W) $340 puts sell to open 3.81
2/16/24 Adobe (ADBE) large buy 1400 January $400 puts $13.94, reports 3-14
2/16/24 Nvidia (NVDA) seeing 6500 Feb 23rd $820 calls buy at $14.80 to $15.40 as the Feb $745 calls adjust out to capture earnings next week
2/16/24 Nvidia (NVDA) seeing 1200 Jan 2026 $800 calls bought at $178 to $181, also seems to be buying 1200 of the $810 calls
2/16/24 Super Micro (SMCI) seeing 500 June $670 puts sell to open at $78 in a stock replacement, willing buyer at 670
2/15/24 Nasdaq 100 ETF (QQQ) seeing 6000 March $405.78 puts sell to open at $1.57 bids
2/15/24 Emerging Markets ETF (EEM) with 40k Oct $39 puts buying at $1.41 as the June puts adjust
2/15/24 Tesla (TSLA) 1200 Nov $120 puts sold to open $4.40
2/15/24 Uber (UBER) 1000 Dec 2025 $80 short puts open as June 2025 72.50 adjust from a trade 2/8
2/15/24 Halliburton (HAL) with 590 Jan 2026 $40 ITM puts sell to open $8.35
2/15/24 Halliburton (HAL) also 1000 January 2026 $30 puts sold to open $3.40
2/15/24 Phillips 66 (PSX) opening sale 500 May $145 puts for $7
2/15/24 MasterCard (MA) 350 Sept $485 calls sold to open 25.40
2/15/24 Intuitive Surgical (ISRG) opening sale 1085 March 28th (W) $350 puts $3.35
2/15/24 Crispr Therapeutics (CRSP) with 600 July $100 calls buy at $9.40
2/15/24 Krystal Bio (KRYS) buyer 270 March $100 calls for $18.60
2/15/24 MoonLake Immuno (MLTX) sees a buyer of 1000 April $65 calls at $10 offer on a wide bid ask spread
2/15/24 Intra-Cellular Therapies (ITCI) reports next week seeing 3000 April $85/$60 bull risk reversals open for $2 debit
2/15/24 Vertiv (VRT) with 600 June 55 puts selling to open 4.80
2/15/24 Nvidia (NVDA) seeing buyers of 2200 March $850 calls at $18.15 to $19.60
2/15/24 Nvidia (NVDA) also buyers of 1000 March 1st $650 calls at $92.00 to $92.50
2/15/24 Taiwan Semi (TSM) buyers 2000 March 1st (W) $135 calls for $2.57
2/15/24 Microsoft (MSFT) buyer 1000 March 1st (W) $407.50 calls for $6
2/15/24 Microsoft (MSFT) also 1000 January $505/$370 bull risk reversals open at $6.15 credit
2/15/24 Microsoft (MSFT) 3000 March 28th (W) $400 puts sell to open 7.80
2/15/24 Camtek (CAMT) seeing 1100 Aug $60 puts sell to buy 1100 of the $85/$95 call spreads, reports 2-20
2/15/24 Applovin (APP) seeing 1500 July 2025 $65 calls buy at $14.08 as the January calls adjust
2/15/24 Google (GOOG) buyer 1500 May $140 calls $10.35
2/15/24 Advanced Micro (AMD) large buy of 2000 July $160 calls at $31.87 as the Feb $115 calls adjust
2/15/24 Meta (META) buyers of 1000 April $450 calls at $43.75 to $45.50
2/15/24 Broadcom (AVGO) buyer of 100 September $1260 calls for $140
2/15/24 Amazon (AMZN) opening seller 600 Nov $155 puts $9.75, also seeing 600 Dec $175 puts sell to open
2/14/24 Semiconductor Bull 3X ETF (SOXL) seeing buyers of 3000 May $44 calls at $4.45 to $4.80
2/14/24 Brazil ETF (EWZ) buyer of 10,000 May $36 calls at $0.53
2/14/24 Utilities ETF (XLU) with 2750 June 2025 $45 puts sell to open at $0.59
2/14/24 Biotech ETF (XBI) with 5000 March $94/$89 bear risk reversals trading to open
2/14/24 Target (TGT) 200 January 2026 $115 puts sold to open $10
2/14/24 Tesla (TSLA) buyer 2500 June 2026 $360/$390 call spreads
2/14/24 On Holding (ONON) buyer 500 January 2026 $47.50 calls $4.70 offer
2/14/24 Shopify (SHOP) buyer 1015 January 2026 $120 calls $11.80
2/14/24 Uber (UBER) with 2750 March 22nd (W) $68 calls bought $8.10 to $8.80
2/14/24 Uber (UBER) 20K June 75 short calls adjust to 80 strike
2/14/24 Marathon Petro (MPC) buyers coming for 3000 March 1st (W) $170 calls $3.70 to $3.90
2/14/24 Occidental (OXY) seeing large opening sales of 3900 Dec $55 puts at $3.80 bids
2/14/24 Eli Lilly (LLY) 1000 January 2025 $1000 short calls opening as adjust $950’s
2/14/24 Eli Lilly (LLY) also with buyer of 475 April $760 calls at $32.65
2/14/24 Viking Therapeutics (VKTX) unusual buyer 1375 March $44 far OTM calls $3.40
2/14/24 Viking Therapeutics (VKTX) more of those March $44 calls being bought $3.50 up over 2500X
2/14/24 Cytokinetics (CYTK) large buyer of 3000 June $85 calls at $7.88 as the March call spreads adjust
2/14/24 Apple (AAPL) 3000 July 155 puts sell to open 1.84, also size buys 4000 March 8th (W) $175 ITM calls $10.05
2/14/24 Micron (MU) buyer 5000 April $92.50 calls $2.24
2/14/24 Micron (MU) 1550 May 90 short calls open as Feb 92.5 adjust
2/14/24 Taiwan Semi (TSM) large buyer of 10k March 1st $130 calls at $3.85 to $4.70
2/14/24 Celestica (CLS) seeing 1000 July $42.50 calls bought $3.87