Link to new podcast: https://www.youtube.com/watch?v=7M5EBLY2wM4
You can also subscribe on Spotify and iTunes (Apple Podcast) under Joe’s Happy Hour
Topics covered:
1) 0:00 Announcements
2) 1:10 Market Commentary and Index Review (Nasdaq Composite, S&P 500, and Russell 2000)
3) 9:45 FOCUS LIST: NVDA, ISRG, META, VRT, AVGO, TSM
4) 13:15 Stock Review – Software: IGV (ETF), MSFT, NOW, ORCL, PANW, CHKP, FTNT, GWRE, APP, DOCS, CRM, PCTY, RBRK, KVYO
5) 17:10 Stock Review – Semiconductors: SMH (ETF), ARM, SMTC, AMSC
6) 18:10 Stock Review – Biotech: XBI (ETF) TARS, CRNX, VKTX, RVMD, EWTX, PRCT, TMDX
7) 25:55 Stock Review – Others/General Ideas/Commentary: LLY, ONON, WIX, NFLX, COHR, CLS, EXPE, RKLB, LUNR, SFM, FOUR, SG, CAVA, TXRH, SPOT, PLTR, NRG, CEG, VST, GDS, PCT, DECK, UPST, ALAB
8) 34:25 Conclusion/Summary
Market Summary:
Over the past 4-6 weeks, I’ve been reiterating the same message. We’re in a bull market, don’t overcomplicate things, and use the 21-day moving average as your guide. I also mentioned that I will be flexible, and update you if anything changes. Some people have pointed out that the Nasdaq Composite has closed below its 21-day for the past two trading days. While I’m never complacent, I don’t think this is a big deal for the following reasons: 1) The selling on Wednesday and Thursday occurred on lighter and lighter volume. 2) The Nasdaq Comp and S&P 500 are still above their respective 10-week moving averages. 3) We’re heading into two of the strongest months of the year seasonally. 4) Many of the growth stock leaders are still acting well.
My interpretation of the recent price action is that the market is simply creating some doubt and fear ahead of the election. As I’ve mentioned several times, please don’t mix your politics with your investing. I’m staying invested in my positions because I have strong entry points on them, and I also have strong conviction in the secular AI growth story. I don’t tell you my views because I want anyone to blindly copy them. I let you know them for transparency and visibility purposes. As I’ve mentioned in the past few videos, PLEASE DO WHAT WORKS FOR YOU and your overall plan. If you are concerned about the election, there’s nothing wrong with leaning defensive until we get more clarity. Also, just a reminder that the next MidWeek Video will be posted on Tuesday, November 5th by 8PM EST instead of the normal Wednesday time. Thank you and enjoy the rest of your weekend.
Unusual Option Activity:
11/1/24 S&P 500 ETF (SPY) with 1450 August $561 ITM calls buying $50.33 to $50.45, over $7.5M
11/1/24 Nasdaq 100 ETF (QQQ) buyers of 2500 Nov 29th $485 calls at $14.80 to $15.84
11/1/24 Treasury ETF (TLT) sees 6000 Dec 6th $89.50 calls sell to open $3.50
11/1/24 Ark Innovation (ARKK) opening sales of 1100 Dec 2025 $42 puts at $3.85
11/1/24 Tesla (TSLA) buyers of 1500 April $305 calls at $19.65 to $19.85
11/1/24 Walmart (WMT) 4250 Dec $75 puts sold for $0.95
11/1/24 Abercrombie (ANF) 700 Dec $140 calls buying for over $700K
11/1/24 Coca-Cola (KO) opening sale of 1000 Sept $67.50 calls at $3.55 bids
11/1/24 Wix.com (WIX) seeing 500 April $140 puts sell to buy 1000 of the $165/$200 call spreads, reports 11-20
11/1/24 Sweetgreen (SG) sees 5000 November $38/$44 call spreads buy for $2
11/1/24 Uber (UBER) buyer 500 Sept $80 calls $8.50
11/1/24 Dave and Buster’s (PLAY) 1190 April $45 calls open a $465K position as Dec 40 adjust
11/1/24 Las Vegas Sands (LVS) 5000 Nov 22nd (W) $54 calls bought 1.13 offer as Nov roll out a week
11/1/24 DoorDash (DASH) sees buyers of 1200 March $165 calls at $12.25 to $12.70
11/1/24 Wynn Resorts (WYNN) buyer of 2400 March $110 calls at $3.70 to $3.90, reports 11/4
11/1/24 Comcast (CMCSA) buyer 5000 Jan 2026 $55 calls $1.72
11/1/24 Roblox (RBLX) buyer of 1750 Jan 2026 $55 calls at $9.92
11/1/24 PDD Holdings (PDD) opening sales of 1000 Dec 6th $120 puts at $7.80
11/1/24 JD.com (JD) sees 1650 September $42 calls buy at $7.08 in a single block, reports 11/14
11/1/24 Hess (HES) opening sale of 1600 June $140 puts at $10.34 to $10.20 as Jan short puts adjust out
11/1/24 Halliburton (HAL) 440 April $23 calls bought ITM $6.10 offers
11/1/24 Coinbase (COIN) seeing 2000 March $260 calls bought $15.35 and higher
11/1/24 MicroStrategy (MSTR) buyers of 900 Jan $305 calls at $23.50
11/1/24 MicroStrategy (MSTR) large block buys 1500 Nov 29th $320 calls at $6.09
11/1/24 TeraWulf (WULF) opening sales of 1500 Dec 2026 $5 puts at $1.95 bids
11/1/24 TeraWulf (WULF) also a buyer of 1300 May $9/$14 call spreads for $0.78
11/1/24 Goldman Sachs (GS) large buy of 1000 Jan 2026 $470 ITM calls at $96.40 as June $430 calls adjust
11/1/24 Goldman Sachs (GS) also sees 1000 Jan 2026 $480 calls buy at $88.30 as June $440 calls adjust
11/1/24 Boston Scientific (BSX) 6000 Dec 6th (W) $80 puts sell to open 0.70 to 0.65
11/1/24 Tarsus Pharma (TARS) Jan $55 calls unusual action being bought 500X $4 to $5.50, TARS recently highlighted in Betaville M&A blog
11/1/24 Tarsus Pharma (TARS) also 2000 Jan $50 ITM puts sell to open at $7.40, strong confidence
11/1/24 Madrigal Pharma (MDGL) sees 2000 Jan $260 puts sold to open $9.50 to $11
11/1/24 Revolution Medicines (RVMD) seeing buyers of 600 Dec $55 calls at $5.70
11/1/24 Revolution Medicines (RVMD) also an opening seller of 117 Dec 2025 $50 puts at $9
11/1/24 Intuitive Machines (LUNR) unusual 3500 March $10 calls bought $1.50 to $1.55, reports mid-Nov,
11/1/24 Astera Labs (ALAB) large stock replacement buys 2500 Jan $95 calls at $3.30 in a single block, reports 11/4
11/1/24 Astera Labs (ALAB) also 920 Jan $100 calls bought 2.90 offer sweep
11/1/24 Atlassian (TEAM) buyers of 400 Dec $230 calls at $7.50 to $9
11/1/24 DataDog (DDOG) 4650 Jan $100 puts sell to open $2 into earnings next week
11/1/24 Nvidia (NVDA) 1500 Nov 29th (W) $132 calls bought $11.40 to $11.60
11/1/24 Nvidia (NVDA) buyer 1000 Nov 29th (W) $133 calls $11 as well
11/1/24 Nvidia 2X ETF (NVDL) buyers over 3500 Dec $70 calls at $12.70 offers
11/1/24 Taiwan Semi (TSM) buyers 4000 next week $197.50 calls for $2M
11/1/24 Broadcom (AVGO) large opening sale 3000 June $158 puts for $14.95
11/1/24 Teradyne (TER) 5000 January $95 puts sell to open 2.74
11/1/24 Meta (META) large buyers of 4000 Nov 29th $580 calls at $17.50 in big lots
11/1/24 Alibaba (BABA) with 8000 April $130 calls bought at $2.63, adjusting Dec $100 calls
10/31/24 Nasdaq 100 ETF (QQQ) large opening seller of 1500 Dec 2026 $484.78 puts at $46.15, over $7M
10/31/24 Russell 2000 ETF (IWM) sees 1500 Nov 29th $220 puts sell to open $6.52, adjusting some Dec short puts
10/31/24 Semiconductors ETF (SMH) buyers of 1000 Nov 29th $250 calls at $7.15
10/31/24 Bitcoin ETF (BITO) with 30,000 March $23 calls buying $1.16 to $1.23
10/31/24 Technology ETF (XLK) seeing 2250 Nov 22nd $212.50 puts sell to open at $3.10
10/31/24 Technology ETF (XLK) also 1600 Nov 22nd $215 puts sell to open at $3.50
10/31/24 Energy ETF (XLE) large buyer of 25,000 Nov $93/$95 call spreads for $0.31
10/31/24 Tesla Bull 1.5x ETF (TSLL) sees 1700 June $25 calls buy for $1.61 as March $19 calls adjust
10/31/24 Tesla (TSLA) opening seller 1000 April $240 puts $27.45
10/31/24 Altria (MO) buyers of 2600 March $55 calls at $2.56 as Dec calls adjust
10/31/24 Carvana (CVNA) 425 Jan $250 puts sell to open $26 to $23.40 as some $200 short puts adjust
10/31/24 Airbnb (ABNB) large opening sale of 1500 January 2027 $135 puts $23.35
10/31/24 Uber (UBER) 750 Feb $67.50 calls bought $8.15 offer
10/31/24 Uber (UBER) August $65 calls bought 600X at $13.90
10/31/24 Disney (DIS) 2000 Sept $85 puts sold to open $4.80
10/31/24 Wynn Resorts (WYNN) opening sale 4500 June $80 puts $3.70
10/31/24 Shopify (SHOP) trade sold 375 Jan 2027 $80 puts to open 17.90 ahead of earnings 11-12
10/31/24 Schlumberger (SLB) 10,000 June $50 calls are bought $1.32
10/31/24 Visa (V) 800 Dec 6th (W) $295 puts sell to open $7.40
10/31/24 Capital One (COF) buyers of 1750 March $180 calls at $8.30 to $8.80
10/31/24 Eli Lilly (LLY) sale to open 300 Sept $750 puts $49.60
10/31/24 Bristol Myers (BMY) 2500 Jan 2027 $55 calls bought to open for $2.275M as Jan 2026 adjust
10/31/24 Meta (META) 5000 Nov 22nd (W) $565 puts sell to open $11.70
10/31/24 Nvidia (NVDA) buyers active in Dec $148 calls near $7 for 4000 contracts
10/31/24 Nvidia (NVDA) 1000 each Nov 29th (W) $129 and $131 calls bought for $2M+
10/31/24 Nvidia (NVDA) 1000 each Nov 29th (W) $127 and $128 calls bought as well large lots
10/31/24 Nvidia (NVDA) 4000 March $135 puts sell to open 17.70
10/31/24 Nvidia (NVDA) 1150 May $125 puts sold to open 14.70
10/31/24 Core Scientific (CORZ) with 4500 Sept $8 puts sold to open 0.80
10/31/24 Advanced Micro (AMD) 1600 Sept $105 puts sell to open 5.85
10/31/24 Advanced Micro (AMD) also opening seller of 1540 May $120 puts at $7.15 bids
10/31/24 GoDaddy (GDDY) opening sales of 800 Jan $160 ITM calls at $13.50 to $14.80
10/31/24 Taiwan Semi (TSM) Dec $190 call buyers $10.60 offers 4000X
10/31/24 Microsoft (MSFT) 3000 March $440 calls buy $15.14 adjusting $460 calls
10/31/24 Microsoft (MSFT) also some buyers of 1100 Feb $410 calls at $25 to $26
10/31/24 Amazon (AMZN) sees a midday buyer of 1000 Dec 6th $190 calls at $8.25 offer
10/31/24 Innodata (INOD) AI play sees very unusual buy of 300 Jan 2026 $30 calls at $6.10
10/31/24 Vistra (VST) late day buyer of 2200 Dec $125 calls at $12.60 with earnings next week