Topics covered:
1) 0:00 Announcements
2) 0:15 Market Commentary and Index Review (Nasdaq Composite, S&P 500, and Russell 2000)
3) 6:30 FOCUS LIST: NVDA, AVGO, NTAP, LLY, MSFT, ISRG
4) 9:25 Stock Review – Software: IGV (ETF), NOW, PANW, CYBR, GWRE, CVLT, VRNS
5) 11:20 Stock Review – Semiconductors: SMH (ETF), TSM, CRUS, ARM
6) 12:35 Stock Review – Biotech/Medical Products: XBI (ETF), HALO, TWST, GH, AORT
7) 13:20 Stock Review – Watch List/General Ideas/Commentary: META, TSLA, GE, FTAI, WWD, HWM, VRTX, AMGN, COHR, PLTR, DY, KKR, TXRH, COIN, ASTS, WMS
8) 17:35 Conclusion/Summary

Market Summary:
In recent videos, I mentioned the positive things I would like to see to confirm that we are coming out of this current pullback. 1) We started to see signs of the selling slow down, as both the Nasdaq Composite and S&P 500 were down on lighter volume last week. 2) We saw a Day 4 follow through day (FTD) on the S&P 500 today (I discuss it in this video). 3) The Nasdaq Composite regained its 50-day but has not seen a FTD yet. 4) There are definitely some growth stocks showing great relative strength, but it will take some time until we see more bases being built and safer, tighter entry points. 5) I’m not going to get overly bearish because I think this was a normal pullback, but we still have to be patient until the market proves itself better.

From here, I think we will be in a range over the near-term. As I mentioned, I don’t see any significant downside over the near-term (because of the major put writing levels that I’ve discussed in recent videos), but I’m also not expecting any sustained upside until the fall. As always, I will be open-minded and take things day-by-day, but I would like to see better price action before I’m convinced that we will have a new, sustained power trend. Overall, this pullback was probably needed to shakeout some of the excess bullishness. Let’s just be patient until the volatility calms down again. Thank you and good luck for the remainder of the week.

Unusual Option Activity:
7/31/24 S&P 500 ETF (SPY) short term buyer of 8000 August $553 calls at $6.54 as the $549 calls adjust
7/31/24 Nasdaq 100 ETF (QQQ) opening sale of 3000 June $519.78 calls at $21.66, collecting $6M in premium
7/31/24 Semiconductors ETF (SMH) buyers into strength for 1000 Oct $270 calls at $7.15
7/31/24 Oil Services ETF (OIH) buyer of 1000 Oct $305 puts at $5.90
7/31/24 Sprouts Farmers Market (SFM) seeing 1000 Dec $100 puts sell to open $7.60
7/31/24 Robinhood (HOOD) with 1100 Feb $22 puts selling to open $4.45
7/31/24 AbbVie (ABBV) size buyer 1000 Jan 2026 $175 calls $27.75 to $27.90
7/31/24 Abbott Labs (ABT) 1780 June 2025 90 puts selling to open near 2.74
7/31/24 AstraZeneca (AZN) 750 Jan 2026 $85 calls bought at $7.40
7/31/24 Microsoft (MSFT) 1150 Sep. 6th (W) $395 puts sell to open $4.70
7/31/24 Microsoft (MSFT) also Nov $415 puts selling to open at $18.65
7/31/24 Microsoft (MSFT) large trade buying 30,000 Nov $405 calls at $32.29 as the August $440 calls adjust
7/31/24 Nvidia (NVDA) large opening sales of 3500 Sept 6th $125 ITM puts at $15.15 bids down to $15, over $5M
7/31/24 Micron (MU) large buy of 3100 Oct $115 calls at $8.15
7/31/24 Micron (MU) also with 2300 Feb $80 puts sell to open $2.92
7/31/24 AST SpaceMobile (ASTS) with 2100 Feb $35 calls bought at $3.10 offers
7/31/24 AST SpaceMobile (ASTS) also buyers of 2600 Nov $35 calls at $2.05
7/31/24 ASML (ASML) buyer of 1600 September $930 calls at $51.30 to $53.50, over $8M
7/30/24 Nasdaq 100 ETF (QQQ) with 2000 March $480 calls bought at $29.53 in a large stock replacement, nearly $6M
7/30/24 S&P 500 ETF (SPY) opening sale of 1500 August 2025 $600 calls at $16.89
7/30/24 Dow Jones ETF (DIA) 2700 September $412 calls bought $6.25 offer
7/30/24 Anheuser-Busch (BUD) buyer 300 June 2025 $60 calls $6
7/30/24 Rivian (RIVN) 500 June 2025 17.50 puts sell to open 4.80
7/30/24 Rivian (RIVN) 5250 Sept $21 calls buy $0.54 offer
7/30/24 Rivian (RIVN) 7000 March $10 puts sell to open at $0.83 bids, continues seeing those 2025 put sales
7/30/24 Sphere (SPHR) buyer 2500 Nov $45 calls $5.10 adjusts Sept 40 calls
7/30/24 Disney (DIS) 3000 October $85 puts sell to open 1.79
7/30/24 Airbnb (ABNB) opening sale 895 August 9th (W) $145 puts for $9.75
7/30/24 Goldman Sachs (GS) 1000 Dec $510 calls bought $30.70 and 1000 of the $550 calls bought $14.90
7/30/24 Nasdaq (NDAQ) 1090 Sept $67.5 calls bought $3.35
7/30/24 Coinbase (COIN) block of 600 January $240 puts sold to open for $49.50
7/30/24 Viking Therapeutics (VKTX) 2500 August 50 puts sell to open 0.90
7/30/24 Viking Therapeutics (VKTX) also 1900 August $53 puts selling to open 1.80
7/30/24 Johnson Controls (JCI) opening sale of 2300 Aug $67.50 puts at $1.35 as $62.50 short puts adjust
7/30/24 Nvidia (NVDA) with 1650 Aug 9th $103 calls bought at $8.50 in large lots
7/30/24 Nvidia (NVDA) opening sale of 1400 Sept 2025 $85 puts at $10.31
7/30/24 Nvidia (NVDA) buyer 2500 Nov $135 calls $4.30 offer
7/30/24 Nvidia (NVDA) with massive buyers for 69,000 August 23rd $115/$125 call spreads at $1.85
7/30/24 Nvidia (NVDA) also an opening seller of 20,000 August $88.50 puts at $1.00
7/30/24 Nvidia (NVDA) buyer of 2500 June 2026 $49 deep ITM calls at $63.85 as the Jan 2026 $43 calls adjust
7/30/24 Nvidia (NVDA) large opening sales of 2200 March $105 puts at $16.45 as Sept $115 short puts adjust
7/30/24 Nvidia (NVDA) large lot buyers of 5000 August 30th $105 calls $8.85 to $9.80, captures earnings that week
7/30/24 Dell (DELL) with 1000 Sept $120 calls bought $7 to $7.05
7/30/24 Baidu (BIDU) 750 Oct $85 puts sell to open $4.15
7/30/24 Baidu (BIDU) 1000 Nov $105 puts are sold to open $18.41
7/30/24 Micron (MU) 9500 Sep 90 puts sold to open 2.05
7/30/24 Micron (MU) buyers of 1200 Dec $105 calls at $13.40
7/30/24 Microsoft (MSFT) opening sale of 500 Sept 2025 $370 puts at $19.20, over $1M
7/30/24 Microsoft (MSFT) buyer 1200 Oct $425 calls $19.85 offer
7/30/24 Arm Holdings (ARM) 300 March $105 puts sell to open $11.30
7/30/24 Qualcomm (QCOM) 1650 Sept $170 calls buy at $11.50, adjusts Aug $180
7/30/24 AST SpaceMobile (ASTS) buyers 2000 Nov $30 OTM calls $2.35
7/29/24 Russell 2000 ETF (IWM) 1500 Nov $220 puts sell at $8.29
7/29/24 Russell 2000 ETF (IWM) also with 1400 June 30th 2025 $235 calls buying at $16.80
7/29/24 Energy ETF (XLE) 5500 December $99 calls are bought $2.29
7/29/24 Nike (NKE) offer buys of March $70 calls 1245 at $9.45
7/29/31 Uber (UBER) buyer 1000 January 2026 $67.5 calls $13.20
7/29/24 TJX Co (TJX) with 400 Dec 2026 $120 calls bought $15
7/29/24 Occidental (OXY) with 1000 Aug 9th $58 calls buying at $2.37
7/29/24 MicroStrategy (MSTR) 200 Aug 30th $1520/1510 bull put spreads sell to open to buy 400 of the $2000 calls at $113
7/29/24 Citigroup (C) 2950 Aug 9th (W) $65 calls bought 0.86 to 0.89
7/29/24 Citigroup (C) 1400 March $67.5 ITM puts sell to open $6.60, bull flow continues in Citi
7/29/24 Novo Nordisk (NVO) buyers 1500 August $130 calls $4.50 to $4.90, set to report next week
7/29/24 Viking Therapeutics (VKTX) sees size buyer 600 Jan $35 ITM calls $33.80
7/29/24 AbbVie (ABBV) buyer 1300 June 2025 $200 calls for $9.10
7/29/24 Howmet Aerospace (HWM) with 1350 August $85 calls bought $2.69
7/29/24 DR Horton (DHI) spread buys 6600 Nov $190 calls $9.37 and sells 4100 of the $150 puts $3.30
7/29/24 Advanced Micro (AMD) 600 Aug 30th (W) ITM $135 calls bought $15.25
7/29/24 Workday (WDAY) 2650 Aug 30th (W) 200 puts sell to open $1.97
7/29/24 Microsoft (MSFT) sees an opening sale of 2500 Dec $480 calls at $11.05
7/29/24 Broadcom (AVGO) with 750 Aug 30th $155/$149 bull put spreads sell to open $2.55
7/29/24 Broadcom (AVGO) 1000 Oct $132 puts sell to open 3.75
7/29/24 Amazon (AMZN) 1200 February $155 puts selling to open for $6
7/29/24 Arm Holdings (ARM) seeing 1000 each October 170 and 175 calls bought
7/29/24 Micron (MU) buyer 1050 Sept 6th (W) $118 calls $3.05
7/29/24 Super Micro (SMCI) 2400 March $500 puts selling to open near $43
7/29/24 Marvell Tech (MRVL) large buyer 3000 November $70 calls $5.14
7/25/24 Advanced Drainage (WMS) sees 1500 August $170 calls buy at $7, adjusting the $175 calls, over $1M in positioning