Topics covered:
1) 0:00 Announcements
2) 0:15 Market Commentary and Index Review (Nasdaq Composite, S&P 500, and Russell 2000)
3) 7:05 FOCUS LIST: NVDA, DELL, MSFT, WING, LLY, NVO, CRWD, ISRG, MU
4) 11:00 Stock Review – Software and Semiconductors: IGV (ETF), APP, SNPS, SMH (ETF), PI, TSM, AVGO, KLAC, ARM
5) 15:40 Stock Review – Biotech/Medical Products: XBI (ETF), CRNX, GPCR, AVTE, SNDX, NTRA, TMDX, PRCT, RXST, MEDP
6) 21:05 Stock Review – Aerospace/Defense: AVAV, HWM, WWD, LDOS, FTAI
7) 22:40 Stock Review – Watch List/General Ideas/Commentary: VRT, META, NFLX, HPQ, VST, CEG, NRG, ASPN, CAMT, CLS, NTAP, PSTG
8) 25:50 Conclusion/Summary

Market Summary:
As I’ve mentioned since early May, we’re in a power trend, so let’s keep things simple. One of my four rules is “use the 21-day EMA as your guide.” What I mean by this regarding the Nasdaq Composite is when the index gets approximately 3-4% extended from its 21-day, that’s when you can expect some stalling and/or an eventual pullback to the 21-day. Of course, extended can get more extended, but I’m talking in terms of probabilities. If you are longer-term, then get those strong entry points and deal with normal volatility. If you are short-term or like to be tactical with your portfolio, then look to reduce exposure into the strength and put money to work on support. Again, this is only if you have the time to watch the market, and it fits your overall strategy.

The Nasdaq Composite is currently 4.1% extended from its 21-day. I used this recent strength to reduce my exposure from 95% invested down to 70%. If the market continues higher, I will look to reduce some more. Again, this style is only if you have time to watch the market and have no problem making decisions. If you struggle with this, or have a longer-term timeframe, then get strong entry points and sit through normal pullbacks. Also, lighter positions can help to keep you calm AND to keep you in positions longer than you might normally hold. From here, don’t be surprised to see some backing and filling, especially as we head into the second half of June. Again, I’m not expecting any major downside, just increased volatility towards the end of the month. Good luck for the remainder of the week.

Unusual Option Activity:
6/12/24 Nasdaq 100 ETF (QQQ) with 5000 Oct $455 puts sell to open $8.87 as Sept 410 short puts adjust up
6/12/24 Russell 2000 ETF (IWM) block 2300 Jan 2026 $210 puts sold to open 17.40
6/12/24 ARK Innovation ETF (ARKK) buyer 10,000 Sept $49/$56 call spreads
6/12/24 Energy ETF (XLE) 6500 Sept 88 puts sell to open for $2.44
6/12/24 Ferrari (RACE) buyer 400 July $430 calls $10.50 as June $420 adjust
6/12/24 Skechers (SKX) sees 470 October $70 calls buy $8.50 offer
6/12/24 Costco (COST) buyer of 750 March $1260 calls at $2.85 to $3
6/12/24 On Holding (ONON) 2500 Jan 2026 $45 calls sell to open 10.13
6/12/24 Dave and Buster (PLAY) 675 September $55 calls bought $3.80
6/12/24 AppLovin (APP) September spreads selling the $70 puts and buying $80/$90 call spreads 700X
6/12/24 First Solar (FSLR) buyer of 600 March $370 calls at $32.50
6/12/24 Occidental (OXY) 5000 September $60 puts sold $2.35
6/12/24 EOG Resources (EOG) 2075 November $145 calls sell to open
6/12/24 Coinbase (COIN) buyer 4000 July 12th (W) $270 calls $14.80 to $15 and 2000 of the $260 calls bought $18.30 to $18.50
6/12/24 Eli Lilly (LLY) buyer of 330 September $870 calls at $55.05
6/12/24 Jazz Pharma (JAZZ) unusual buy 850 July $115/$130 call spreads for $3.50
6/12/24 Quanta Services (PWR) with 1000 July $290 calls bought $6.25 with June calls adjusting
6/12/24 Apple (AAPL) with 21,000 August $190 puts selling to open at $1.14 to $1.00
6/12/24 Apple (AAPL) opening sellers of 1100 March $205 puts at $10.10 to $9.25 as the $170 short puts adjust
6/12/24 Apple (AAPL) seeing 16,000 October $235 calls bought at $5.30 to $5.50 as the June calls adjust
6/12/24 Oracle (ORCL) buyers of 4000 Sept $160 calls at $1.77 to $1.84, tied to sellers of 3k Sept $120 puts at $1.11
6/12/24 Oracle (ORCL) sweep buy 1250 January $165 OTM calls $4.50 offer
6/12/24 Micron (MU) 500 January 2026 $110 puts sell to open 12.50
6/12/24 Micron (MU) 6500 October $155 calls bought for $7M
6/12/24 Micron (MU) seeing 2900 June 28th $150 calls buy at $4.30
6/12/24 Arm Holdings (ARM) more bull flow with early buys 1500 August $150 calls for $2.65M
6/12/24 Arm Holdings (ARM) also 1200 August $175 calls bought near $12.95 in adjustments
6/12/24 Arm Holdings (ARM) also with 2000 June 28th $170 calls buying at $2.82
6/12/24 Dell (DELL) 3600 July 26th (W) $115 puts sell to open 1.60
6/12/24 ASML (ASML) buyer of 600 August $1150 calls at $32.70 to $33.50
6/12/24 Marvell Tech (MRVL) 1200 July 72.5 puts selling $3.40 bids
6/12/24 Nvidia (NVDA) buyer of 800 Sept 2025 $150 calls at $20.75 to $22
6/12/24 Nvidia (NVDA) seeing over 6000 Jan $122 calls trading mostly buying at $21.50 as the $90 calls adjust
6/12/24 Amazon (AMZN) massive opening seller of 3300 Dec 2026 $180 puts at $24.40, over $8M
6/12/24 Meta (META) buyers of 1200 January $515 calls at $58.85 as the July $480 calls adjust up and out
6/12/24 Microsoft (MSFT) opening seller of 1000 Jan $440 puts at $25.26
6/12/24 Microsoft (MSFT) also with 8k July $450 calls mostly buy side at $6 to $6.25
6/11/24 Russell 2000 ETF (IWM) 6900 September $210 calls with offer buys looking to add to OI
6/11/24 Hims and Hers Health (HIMS) with 500 January 2026 $25 calls bought and 500 of the $35 calls sold
6/11/24 Netflix (NFLX) another 2850 September $700 calls selling to open today
6/11/24 Wynn Resorts (WYNN) 300 Jan. 2026 $75 puts sell to open $6.20
6/11/24 Starbucks (SBUX) sees buyers of 1050 Jan 2026 $120 calls at $2.30
6/11/24 Valero (VLO) with 2675 July $150/$140 put spreads bought at $2.56
6/11/24 Devon Energy (DVN) 700 Jan. 2026 $50 puts sell to open 7.84
6/11/24 JP Morgan (JPM) seller of 1300 January 2026 $180 puts $12.75
6/11/24 JP Morgan (JPM) with 2200 November $220 calls bought $3.18 as Oct $230 adjust
6/11/24 Citigroup (C) buyer 2600 June 28th (W) $59 calls $1.76
6/11/24 Citigroup (C) buyer 3000 Dec $65 calls $2.25
6/11/24 Citigroup (C) 2000 Dec 2026 $50 puts sell to open 4.50
6/11/24 Citigroup (C) 9000 July $60 calls buying as $65 strike adjusts
6/11/24 Shift4 Payments (FOUR) 380 Oct 2025 80 calls bought 15.50 to 16, recent size insider buys
6/11/24 Coinbase (COIN) 1000 August $300 calls bought near $15.50 average
6/11/24 Natera (NTRA) opening sale 200 October $110 puts at-the-money $11 to $10.90
6/11/24 Eli Lilly (LLY) buyer of 260 October $750 deep ITM calls at $134 to $137.50
6/11/24 Structure Therapeutics (GPCR) sees 500 January $60 calls buy $7.25
6/11/24 Avidity Biosciences (RNA) with 2000 June $35 calls bought $1.35 as the $30 calls adjust
6/11/24 Merck (MRK) buyer 1000 Oct. $145 calls $1.70
6/11/24 Advanced Micro (AMD) June 2026 call buyer adds 1020 of the $160 calls
6/11/24 Advanced Micro (AMD) also seeing 1200 Sept $155 calls bought $17.15 to $17.50
6/11/24 On Semi (ON) 4500 July 12th (W) $63 puts sell to open 0.41
6/11/24 Nvidia (NVDA) seeing good size lots buy 2500 July 26th $122 calls at $6.50 to $7
6/11/24 Super Micro (SMCI) 300 Sept 1020 calls sell to open $48
6/11/24 Micron (MU) with 2733 July 5th $142/$139 bull put spreads sell to open at $1.72
6/11/24 Apple (AAPL) buyers active in November $200 calls 7500X for $13M
6/11/24 Pure Storage (PSTG) buyer 1000 Dec $80 OTM calls $4.39
6/11/24 Arm Holdings (ARM) 1150 August $160 calls bought $12.15 to $13.10
6/11/24 Constellation Energy (CEG) seeing another 1000 January $240 calls bought
6/10/24 S&P 500 ETF (SPY) size opening seller 6500 Dec 2026 $410 puts 11.62
6/10/24 S&P 500 ETF (SPY) large buyer of 6750 June 28th $542 calls at $2.25 as the weekly $541 strike calls adjust
6/10/24 Nasdaq 100 ETF (QQQ) buyer of 1500 July 5th $457 ITM calls at $11.66
6/10/24 Nasdaq 100 ETF (QQQ) buyer 1000 July 26th (W) $475 calls $5.77
6/10/24 India ETF (INDA) buyer of 1900 November $57 calls at $1.40 offer
6/10/24 Semiconductors ETF (SMH) buyer 1000 July 5th (W) $250 calls $11.60
6/10/24 Bitcoin ETF (BITO) opening sale 1000 January $26 puts for $9.40
6/10/24 Nike (NKE) another 8500 September $100 calls bought up to $4.75
6/10/24 Pepsi (PEP) sees over 5000 July $160 puts sell to open $1.22
6/10/24 Carvana (CVNA) with 430 November $110 calls bought $24.95 offer
6/10/24 Booking Holdings (BKNG) buyer of 160 Jan $4250 calls at $177.95 as the $4300 calls adjust
6/10/24 Starbucks (SBUX) buyers active for over 5500 July 12th $82 calls at $1.93 to $2.07
6/10/24 DraftKings (DKNG) opening sales of 1900 Jan 2026 $50 calls at $6.05
6/10/24 Wynn Resorts (WYNN) good size opening sale 500 October $92.50 puts $5.40
6/10/24 Netflix (NFLX) with 2750 September $700 calls seeing sales to open
6/10/24 First Solar (FSLR) 1700 November $310 calls buys to open $22.55 to $22.65
6/10/24 First Solar (FSLR) also 1200 August $320 calls buying $11.70 to $12.50
6/10/24 Exxon (XOM) opening seller of 1000 March $120 calls at $6.75
6/10/24 Occidental (OXY) buyers of over 2500 November $67.50 calls at $1.75
6/10/24 Citigroup (C) buyers of 3000 next week’s $60 calls at $1.78 as $62 calls adjust
6/10/24 Pfizer (PFE) with 10,900 July 26th $26 puts sell to open $0.25 to $0.24
6/10/24 Novo Nordisk (NVO) large midday buyer of 5200 December $200 calls at $1.45 to $1.60
6/10/24 Eli Lilly (LLY) 200 November $850 short puts open as August $780 adjust from 5/22
6/10/24 AbbVie (ABBV) up to 2550 June 2025 $180 calls bought in size trades
6/10/24 Abbott Labs (ABT) opening sale 800 June 2025 $110 puts $8.40
6/10/24 FTAI Aviation (FTAI) 1000 August $95/$105 call spreads buy for $1.60
6/10/24 Howmet Aerospace (HWM) buyers of 1300 July $85 calls at $2.10 to $2.25
6/10/24 Taiwan Semi (TSM) with 3000 October $190 calls buying at $6.95
6/10/24 Taiwan Semi (TSM) also a separate trade sells 10,000 June 28th $185 calls at $0.43
6/10/24 Taiwan Semi (TSM) 3000 November $190 calls buy $8.25 to open
6/10/24 Taiwan Semi (TSM) also a buyer of 1500 Dec $210 calls at $7.10 offers
6/10/24 Texas Instruments (TXN) large buy of 15,000 Sept $210 calls at $4.77 to $4.80 as the July $190 calls adjust up and out
6/10/24 Applied Materials (AMAT) large buy 1000 August $240 calls $8.69 to $8.95
6/10/24 Google (GOOG) with 1590 July 12th (W) $170 calls bought for $1.3M
6/10/24 CrowdStrike (CRWD) buyer of over 1500 July $400 calls at $11.65 as the June $360 calls adjust higher
6/10/24 HP (HPQ) buyers of over 4000 Sept $29 ITM calls at $7.10
6/10/24 Datadog (DDOG) buyers of 1150 August $135 calls at $1.85
6/10/24 Datadog (DDOG) 600 August 100 puts sell to open 2.63
6/10/24 Arm Holdings (ARM) bull flow continues with 500 Nov $135 puts selling to open today at $20 average
6/10/24 Nvidia (NVDA) buyer 1500 February $210 far OTM calls $2.87
6/10/24 Nvidia (NVDA) buyer 1000 September $130 calls $8.10
6/10/24 Nvidia (NVDA) buyers of 3000 September $150 calls up to $4.08
6/10/24 Nvidia (NVDA) June 2025 $130 calls bought 1000X $21.80 and Sept $120 calls bought 2000X at $13.20 to $13.65
6/10/24 Nvidia (NVDA) seeing large buyers of over 5000 July $130 calls at $4.50
6/10/24 Nvidia (NVDA) also seeing opening sales today for 1250 Sept $110 puts at $6.15
6/10/24 Nvidia (NVDA) 3000 November $136 calls bought $11.10
6/10/24 Nvidia (NVDA) 1000 Dec 2025 $100 puts sell to open $13.45
6/10/24 iShares Core S&P 500 ETF (XSP) seeing large opening sales of 13,600 August $519 puts at $4.27 bids, confident in shallow pullbacks into summer as that level lines up with the 50 day MA