Topics covered:
1) 0:00 Announcements
2) 0:15 Market Commentary and Index Review (Nasdaq Composite, S&P 500, and Russell 2000)
3) 7:10 Update on trade ideas from the March 29th Weekend Video
4) 14:45 FOCUS LIST: NVDA, DELL, MSFT, WING, VRT, LLY, NVO, CRWD, ISRG, MU
5) 20:20 Stock Review – Software and Semiconductors: IGV (ETF), APP, NOW, SNPS, SMH (ETF), TSM, AVGO, KLAC, ARM
6) 23:00 Stock Review – Biotech/Medical Products: XBI (ETF), NBIX, CYTK, VKTX, CRNX, MRUS, NTRA, TMDX, RXST, PRCT
7) 28:10 Stock Review – Restaurants: CMG, CAVA, SG, SHAK, TXRH, DPZ
8) 29:50 Stock Review – Watch List/General Ideas/Commentary: AVAV, LDOS, HWM, FTAI, VST, CEG, NRG, WWD, CAMT, CLS, NTAP, PSTG, PDD, CELH, VRTX, DECK, ONON, LULU, BKNG, GBTC
9) 38:15 Stocks Near Buyable Ranges: LLY, AVGO, WING, APP, NBIX
10) 40:20 Conclusion/Summary
Market Summary:
We’re in a power trend, let’s not complicate or overthink things. As I mention in the Seminar Videos, my general philosophy is the market is healthy 2 to 3 times per year. Let’s do our best to identify when it’s healthy and take advantage of it. A few weeks ago, we had a breadth thrust, regained the 50-day moving average, and many growth stocks were acting well. The market started to look healthy again and I increased my exposure at that time. Here are some of my guidelines during a power trend: 1) Use the 21-day EMA as your guide. This is for both the major indexes and for individual stocks. 2) Focus on the absolute best growth stocks. If you’re new to trading, there’s nothing wrong with using a blend of ETFs and stocks. 3) Get strong entry points. Again, use the 21-day and please DO NOT CHASE extended stocks! 4) Manage your trades as best as possible based on your timeframe and overall investment objectives. 5) Please remember, just because it’s a bull market, you still have to manage risk. In other words, not every stock is going to work out, so please have some form of a loss cutting discipline (dollar stop, percentage stop, or technical stop).
From here, I’m going to continue to keep things simple. We are slightly extended from the 21-day, so we could see some end of the month profit taking, but I’m not expecting any significant downside. As I mentioned in the MidWeek video, there was a huge put write in the Nasdaq 100 ETF (QQQ) at the 450 level. That should act as support into May 31st. Thank you and enjoy the rest of your long holiday weekend.
Unusual Option Activity:
5/24/24 Gold ETF (GLD) large spreads buying 5000 June 2025 $255/$260 call spreads at $0.75
5/24/24 Gold ETF (GLD) also 3100 of the $285/$290 call spreads buy at $0.31, cheap upside bets
5/24/24 Ultra Silver ETF (AGQ) bouncing back today and sees 1200 September $40 calls buy at $6.90 to $6.40
5/24/24 Ultra Silver ETF (AGQ) late day buyers of 2000 Sept $44 calls at $4.90
5/24/24 Energy ETF (XLE) buyer of 4000 Sept $87 puts at $1.77
5/24/24 Retail ETF (XRT) late day opening seller of 10,000 June 7th $76 puts at $1.74
5/24/24 Tesla (TSLA) 2000 May 31st (W) $190 puts bought $14.90 to $15.10
5/24/24 Nike (NKE) with 1880 Oct $97.50 calls selling to open $4.80
5/24/24 Costco (COST) 700 Sept $800 puts selling to open at $30 to $27.40
5/24/24 PDD Holdings ADR (PDD) 1200 March $185 calls sold to open 17.90
5/24/24 PDD Holdings ADR (PDD) also 10,000 March $180 calls sell to open 20.10
5/24/24 PDD Holdings ADR (PDD) also 5000 August $160 puts selling to open 8.60
5/24/24 Uber (UBER) buyer 3000 August 72.5/85 call spreads for 1.60
5/24/24 Uber (UBER) buyer of 1150 Dec $65 calls at $7.75 to $7.90 offer
5/24/24 AppLovin (APP) buyer 2000 July $90/$100 call spreads for $1.50
5/24/24 Netflix (NFLX) buyer of 1000 Sept $700 calls at $30.69, adjusting the $650 calls from last month
5/24/24 First Solar (FSLR) buyer 2000 Jan $380 calls $12.95 as $280 strike adjusts higher
5/24/24 Schlumberger (SLB) opening sale of 1300 Sept 2026 $37.50 puts at $3.44
5/24/24 Coinbase (COIN) buyer of 23,160 July $230 calls at $27.87, adjusting the $220 calls
5/24/24 Citigroup (C) with 3000 Dec 2026 $55 puts sold to open at $4.35
5/24/24 J&J (JNJ) size opening sales August $140 puts at $1.23 bids for 3000X
5/24/24 Qualcomm (QCOM) July $210 calls bought 3500X near $7
5/24/24 Qualcomm (QCOM) also with 1000 June 14th (W) $210 calls bought $5.50
5/24/24 Advanced Micro (AMD) large opening buy in March $175 calls 1600X near $24.50 average price, $4M
5/24/24 Nvidia (NVDA) buyer of 37,700 Sept $950 ITM calls at $165.70 as the June $880 calls adjust higher
5/24/24 Nvidia (NVDA) also with 1100 June $985 puts sell to open $17 to $16.65
5/24/24 Super Micro (SMCI) seeing 445 July $870 calls active with buyers for over $4M
5/24/24 Apple (AAPL) buyers for over 5000 June 28th $195 calls at $2.59 to $2.67 in large lots
5/24/24 Taiwan Semi (TSM) size buyers in July $165 calls 4000X up to $6.90 offers
5/24/24 Taiwan Semi (TSM) 3250 June 28th (W) $147 puts sell to open 1.56
5/24/24 Taiwan Semi (TSM) also with 6000 August $130 calls buying at $32.50 to $33.15, over $20M
5/24/24 Celestica (CLS) 1000 Oct $75 short calls open as Sept 60 adjust
5/24/24 Celestica (CLS) also a buyer of 1250 Oct $65 calls $5.20 offer
5/24/24 Dell (DELL) buyers of 1400 June $170 calls at $9.90
5/24/24 Dell (DELL) also some buys of June 14th $160 calls
5/24/24 Micron (MU) buyers 1200 June 14th (W) $130 calls $4 to $4.50
5/24/24 Broadcom (AVGO) buyer of 2100 June $1450/$1550 call spreads for $28.90, reports on 6/12
5/24/24 Broadcom (AVGO) June call spreads seem to tied to large opening sales of 700 July 5th $1440 ITM puts at $80.50, pretty bullish view
5/24/24 Meta (META) buyers of 500 Nov $480 calls at $50.50
5/24/24 Crowdstrike (CRWD) buyer of 525 August $390 calls at $17.75, reports 6/4
5/24/24 Texas Instruments (TXN) with 700 Sept $190 puts sell to open $6.20
5/24/24 Vertiv (VRT) with 4000 June $115 calls buying at $3.40
5/24/24 NRG Energy (NRG) with 1000 Sept $90 calls bought $5.60
5/24/24 NRG Energy (NRG) also with 1000 Dec $125 calls buy 1.70 offer
5/23/24 PDD Holdings ADR (PDD) with 5000 March $170 calls sell to open $20.10
5/23/24 PDD Holdings ADR (PDD) also 8000 July $150 puts selling to open $5
5/23/24 MGM Resorts (MGM) 1350 June $38 calls bought ITM at $2.22 offers
5/23/24 Starbucks (SBUX) 3000 June 14th (W) $78 puts sold to open $1.30 and 2000 June $74 puts being sold to open
5/23/24 Diamondback Energy (FANG) large opening seller of 3700 Sept $200 calls at $7.80 bids
5/23/24 Citigroup (C) more size put selling as 6000 Oct. $65 puts sell to open $4.20
5/23/24 Goldman Sachs (GS) with 250 June 2025 $460 puts sell to open $39.90
5/23/24 Eli Lilly (LLY) buyer of 200 March $800 calls at $106.70 as Jan $750 calls adjust up and out
5/23/24 Pfizer (PFE) 3500 July $29 puts sell to open 0.94
5/23/24 Micron (MU) with 2680 August $185 calls bought $1.22
5/23/24 Dell (DELL) more bull flow with 1200 May 31st (W) $165 calls bought
5/23/24 Taiwan Semi (TSM) buyers of 4300 July $170 calls $4.95 to $5.10
5/23/24 Taiwan Semi (TSM) with 57,500 August $140 calls bought $22 as $110 calls adjust
5/23/24 Taiwan Semi (TSM) also buyers of 3350 August $170 calls for $2.2M
5/23/24 Oracle (ORCL) buyer 500 June 28th (W) $121 calls 7.50, reports in June
5/23/24 Qualcomm (QCOM) buyer 23,500 September $190 calls $25.50 as the $160 calls adjust higher
5/23/24 Meta (META) buyer 27,000 August $440 calls $51.55 adjusting $405 calls bought 4/26
5/23/24 Texas Instruments (TXN) another 5000 Sept $220 calls bought $4.55 where 10K have bought the past week
5/23/24 Texas Instruments (TXN) buyer 3000 July $210 calls $2.85
5/23/24 Advanced Micro (AMD) 925 June 28th (W) $155 ITM calls bought for $1.3M
5/23/24 Advanced Micro (AMD) buyers of 1100 July 5th $165 calls at $8.75 and also buying the $170 calls
5/23/24 Nvidia (NVDA) 10,000 July $995 puts sell to open down to $36
5/23/24 Nvidia (NVDA) also seeing large buyers of 1150 Feb $850 deep ITM calls at $277 to $290
5/23/24 Broadcom (AVGO) seeing 1200 next week $1400 puts sell to open $24.70 to $22
5/23/24 Microsoft (MSFT) large buyer of 800 Sept $300 deep ITM calls at $131.45 to $135.50
5/23/24 Microsoft (MSFT) also a buyer of 600 Oct $435 calls at $26.60 to $25
5/23/24 Google (GOOG) buyer of 200 August $100 deep ITM calls at $78.88 as some Julys adjust
5/23/24 S&P 500 ETF (SPY) opening sales of 3900 July 31st $516 puts for $4.62
5/23/24 Nasdaq 100 ETF (QQQ) 30,000 June $452 puts sold to open $3.85 as June 405 short puts adjust
5/23/24 Nasdaq 100 ETF (QQQ) 1250 March $520/$450 bull risk reversals trade to open at a net credit
5/23/24 Nasdaq 100 ETF (QQQ) buyers of 1600 June 7th $458 calls for $5.70, captures week of NVDA split, so could see Tech grind up into that