Topics covered:
1) 0:00 Announcements
2) 0:15 Market Commentary and Index Review (Nasdaq Composite, S&P 500, and Russell 2000)
3) 10:25 FOCUS LIST: NVDA, DELL, MSFT, WING, VRT, LLY, NVO, CRWD, ISRG, MU
4) 14:10 Stock Review – Software and Semiconductors: IGV (ETF), APP, SNPS, SMH (ETF), PI, TSM, AVGO, KLAC, ARM
5) 16:15 Stock Review – Biotech/Medical Products: XBI (ETF), CRNX, GPCR, AVTE, NTRA, TMDX, PRCT
6) 18:25 Stock Review – Aerospace/Defense: AVAV, LDOS, HWM, WWD, FTAI
7) 18:50 Stock Review – Watch List/General Ideas/Commentary: NFLX, TTD, SG, VST, CEG, NRG, ASPN, CAMT, CLS, NTAP, PSTG
8) 21:15 Conclusion/Summary

Market Summary:
In the first seven minutes of this video, I discuss how some stocks on the focus and watch lists drop to undercut recent support, and then come back. This is simply part of trading that we have to accept, and we have to have some rules. It’s also the market giving us information about it’s strength. Bottom line, if we have a concentrated portfolio of stocks, we have to do our best to manage our positions. This involves making decisions and being ok with your decisions. It’s part of the mental toughness I mention almost every week. If you have trouble with this, please use lighter positions and give them room to help build your overall confidence.

Regarding the current market, we’re in a power trend, so please keep things simple. Continue to use the 21-day EMA as your guide and expose yourself to the strongest stocks and ETFs. Get those strong entry points and manage your trades as best as possible. The Nasdaq Composite is currently 3% above its 21-day, so don’t be surprised to see some stalling around this level. Again, if the market is moving too fast for you, use lighter positions and expand your timeframe. Thank you and good luck for the remainder of the week.

Unusual Option Activity:
6/5/24 Nasdaq 100 ETF (QQQ) with 30,000 July $475 calls and 25,000 July $480 calls bought, as some $460 adjust higher
6/5/24 Russell 2000 ETF (IWM) buyer of 1500 July $195 calls at $11.08 to $11.25
6/5/24 Semiconductors ETF (SMH) buyer 3000 Dec $350 far OTM calls for 2.21
6/5/24 Silver ETF (SLV) 4000 January $28 puts sold to open 2.49
6/5/24 Gold ETF (GLD) with 2000 October $210 calls bought $14.50
6/5/24 Starbucks (SBUX) buyer 3650 June 2026 $85 calls $13.70
6/5/24 Starbucks (SBUX) also 2950 January 2025 87.5 calls buy $5.15 offer
6/5/24 Shopify (SHOP) August $50 puts sell to open 2430X for 1.07
6/5/24 CAVA Group (CAVA) buyer 1000 July 5th (W) $97 calls for $3.70
6/5/24 Shake Shack (SHAK) sees 255 January 2026 $110 calls buy at $18.60
6/5/24 Chevron (CVX) early buyers 2600 July 12th (W) $160 calls for $750K
6/5/24 Occidental (OXY) buyer 300 November $55 calls $7.40 offer
6/5/24 EOG Resources (EOG) sees 5900 July $125/$110 bull risk reversals opening at small debits
6/5/24 Cytokinetics (CYTK) with 1000 July $55 puts sell to open at $4.60
6/5/24 United Health (UNH) seeing buyers of 500 Sept $500 calls at $25 as $510 calls adjust
6/5/24 Structure Therapeutics (GPCR) 400 Sept 45/70 bull risk reversals opening
6/5/24 Crowdstrike (CRWD) opening seller of 1000 Aug $280 puts at $4.85 to $5.55
6/5/24 Crowdstrike (CRWD) also a buyer of over 1500 August $360 calls
6/5/24 Nvidia (NVDA) with 1000 July $1600 calls bought at $4.10 offer
6/5/24 Nvidia (NVDA) with 1100 August $1800 calls bought at $4.25 offer sweeps
6/5/24 Nvidia (NVDA) 300 Nov $1410 calls bought for $2.7M
6/5/24 Nvidia (NVDA) buyers of 4000 Sept $1320/$1420 call spreads at $27.30
6/5/24 Arm Holdings (ARM) opening sale 1000 Nov 92.5 puts for $4.90
6/5/24 Arm Holdings (ARM) buyer 1000 August $135 calls $13.70
6/5/24 Broadcom (AVGO) buyer 130 August $1370 calls $1.35M
6/5/24 Broadcom (AVGO) sees 1000 June 14th $1500 calls at $18.90, reports next week, could be a stock split candidate
6/5/24 Meta (META) 3800 January $470 calls bought today near $69 for $26M
6/5/24 Microsoft (MSFT) 20,000 Oct $460 calls bought $10.40 with the $490 calls adjusting back
6/5/24 NetApp (NTAP) 1300 August $130 calls bought up to 2.25
6/5/24 Constellation Energy (CEG) sees 375 Nov $210 puts sell to open $21 to $20.70
6/5/24 Aerovate Therapeutics (AVTE) 590 July $20 calls bought for $7.50, small Biotech with key IMPAHCT data due in Q2, and Wells Fargo sees 60 to 100% upside as a top pick with a $35 target. AVTE short interest is rather low at 5.5% of the float for a $490M biotech and trades 5X cash funded through 2026. AVTE is developing inhaled imatinib for pulmonary arterial hypertension with “major de-risking” Phase IIB data in June, and Jefferies has a $65 target on shares
6/4/24 Energy ETF (XLE) large opening sale 3000 August 90 puts for 3.25
6/4/24 Russell 2000 ETF (IWM) large opening sale of 11,930 July $197 puts for 2.67
6/4/24 Russell 2000 ETF (IWM) notable midday buyers 4500 Sept $213 calls $4.34 offer
6/4/24 Retail ETF (XRT) opening sale 5000 July $73 puts 0.79
6/4/24 Biotech ETF (XBI) 1500 Dec. 2026 $90 puts sell to open $10.98
6/4/24 Starbucks (SBUX) more bull flow with near 3000 January $90 calls buying $4.50 offer
6/4/24 Wix.com (WIX) with 1500 November $160/$200 call spreads bought for $13.85
6/4/24 Spotify (SPOT) with 625 August $330 calls buy at $21.50 to $23.25
6/4/24 Schlumberger (SLB) buyer 1000 September $42.50 calls $3.25 offer
6/4/24 Halliburton (HAL) sees 13,000 August $32 puts sell to open $0.76
6/4/24 Chevron (CVX) opening sellers of 1600 Dec $170 calls at $4.20 bids
6/4/24 Exxon (XOM) 300 Jan. 2026 $115 puts sell to open for 12.60
6/4/24 First Solar (FSLR) buyer 500 June 2025 $390 calls $23.20
6/4/24 Coinbase (COIN) size buys 1250 Sept $380 far OTM calls $12.10 to $12.95
6/4/24 Pfizer (PFE) opening sale 16,900 July 12th (W) $28 puts 0.31
6/4/24 Vertex Pharma (VRTX) buyer of 150 July $440 ITM calls at $36.50
6/4/24 PROCEPT BioRobotics (PRCT) with unusual 460 Oct $85 calls bought for $4.80 offers
6/4/24 Novo Nordisk (NVO) massive bull buys 5500 Sept $145/$160 call spreads at $3.70, adjusting June $130 calls
6/4/24 Novo Nordisk (NVO) also buyers 1300 Sept $150 calls
6/4/24 Modine Manufacturing (MOD) buyer 600 July $100 calls $4.15
6/4/24 Crowdstrike (CRWD) buyer of 390 March $300 ITM calls at $63 to $64.75
6/4/24 Crowdstrike (CRWD) buyers of 2000 Sept $300 calls at $40 to $40.40, also a candidate for S&P inclusion
6/4/24 Crowdstrike (CRWD) large opening seller of 500 Nov 2025 $220 puts at $22.50
6/4/24 Crowdstrike (CRWD) 200 Nov 2025 $240 puts sell to open 29.05
6/4/24 Crowdstrike (CRWD) 375 of the Nov 2025 $250 puts sell to open 32.60
6/4/24 Arm Holdings (ARM) more bull flow with 1500 Jan $155 calls bought $16.85 offer
6/4/24 Taiwan Semi (TSM) trades 3000 July $175/$145 bull risk reversals for a large credit
6/4/24 Nvidia (NVDA) large lots buy June 14th (W) $1140 calls $42 to $45 range with over 5000 contracts
6/4/24 Nvidia (NVDA) buyer of 1000 July $1160/$1260 call spreads at $34.35
6/4/24 Qualcomm (QCOM) opening seller 5000 August $170 puts for 1.87
6/4/24 Dell (DELL) with 900 Jan $155 calls buying at $16.60 to $17
6/4/24 Dell (DELL) 300 June 2025 $125 puts sell to open 18.60
6/4/24 Coherent (COHR) opening sale 1000 January $50 puts for 2.95
6/4/24 Adobe (ADBE) 480 June 2026 $440 calls bought for $5.6M,
6/4/24 Celestica (CLS) buyer 1500 July $60 calls $1.24
6/4/24 Meta (META) with another 5000 December 2026 $400 calls trading for $85M
6/4/24 Google (GOOG) large opening seller for 4000 Dec $170 puts at $10.35 to $10.35, over $4.2M
6/4/24 Google (GOOG) seller of 1000 August $170 puts $6
6/4/24 ServiceNow (NOW) buyer of 650 Sept $760/$770 call spreads at 1.85
6/3/24 S&P 500 ETF (SPY) large buyers for 19,000 June $532 calls at $2.91 offers in large blocks
6/3/24 Oil ETF (USO) 1500 July $68 calls bought ITM for $870K
6/3/24 Oil & Gas ETF (XOP) with 3200 December $115 puts sold to open 1.11
6/3/24 Uranium ETF (URA) buyer 8000 October $28 puts for $1.34
6/3/24 Uranium ETF (URA) also 5750 Oct. 33 calls sell to open 2.68
6/3/24 Nasdaq 100 ETF (QQQ) opening seller 1500 November $415 puts 7.77
6/3/24 Biotech ETF (XBI) 1600 September 2025 $75 puts sell to open 3.50
6/3/24 Russell 2000 ETF (IWM) buyers of September $216 calls 3400X
6/3/24 Costco (COST) 150 March $800 puts sell to open $42 to $40
6/3/24 Starbucks (SBUX) looks like another 3389 June 2026 $80 calls bought $14.75
6/3/24 Lowes (LOW) 1000 July $220 calls sell to open 5.90
6/3/24 Schlumberger (SLB) buyer 2600 July $45 calls $1.27
6/3/24 Chevron (CVX) opening sale 300 Jan 2026 $145 puts for 10.70
6/3/24 Exxon (XOM) with 9500 July $110 puts sell to open at $1.38 bids
6/3/24 Occidental (OXY) with 1000 March $55 puts sell to open $2.53
6/3/24 Occidental (OXY) also an opening sale of 5000 July 12th $57 puts at $0.50 bids
6/3/24 JP Morgan (JPM) with 1000 January 2026 $200 puts sold to open for 18.03
6/3/24 AbbVie (ABBV) buyer of 800 August $160 calls at $6.10 to $7.30
6/3/24 Caterpillar (CAT) with 5000 July $300 puts sell to open at $2.41
6/3/24 Oracle (ORCL) buyers of 1400 June 28th $130 calls at $1.36 offers, reports next week
6/3/24 Dell (DELL) 250 Jan 2026 $110 puts sell to open $18.50
6/3/24 Arm Holdings (ARM) buyer 1000 January $155 calls $17.60 to $18.15
6/3/24 Arm Holdings (ARM) June 2026 $130 calls 800X bought $4M
6/3/24 Palo Alto (PANW) with 1500 January $220 puts sold for $5.90
6/3/24 Amazon (AMZN) seeing 1200 June 2026 $160 puts sell to open at $17.39 as $165 puts adjust
6/3/24 Amazon (AMZN) also buyers of 1000 July 5th $170 ITM calls at $10.05 to $10.80
6/3/24 Vertiv (VRT) buyers of 2600 January $155 calls $5.20 offer
6/3/24 Vertiv (VRT) also 1365 Dec $120 calls are bought $10.80
6/3/24 Constellation Energy (CEG) another 1000 January $280 calls bought 8.95
6/3/24 Constellation Energy (CEG) also 3050 January $300 calls bought $6.10 to $6.40