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) 1:00 Market Commentary and Index Review (Nasdaq Composite, S&P 500, and Russell 2000)
3) 7:00 FOCUS LIST: NVDA, ISRG, META, VRT, AVGO, TSM
4) 10:00 Stock Review – Software: IGV (ETF), NOW, ORCL, PANW, GWRE, APP, DOCS, CRM, PCTY, RBRK, KVYO
5) 11:40 Stock Review – Semiconductors: SMH (ETF), ARM, SMTC, AMSC
6) 12:55 Stock Review – Biotech: XBI (ETF) TARS, CRNX, VKTX, RVMD, EWTX
7) 15:10 Stock Review – Others/General Ideas/Commentary: ONON, WIX, NFLX, COHR, CLS, EXPE, RKLB, LUNR, FOUR, SG, TXRH, CEG, VST, GDS, PCT, UPST, ALAB, PLTR, INOD
8) 20:50 Conclusion/Summary
Market Summary:
In last weekend’s video, I discussed how the Nasdaq Composite closed below its 21-day EMA for two straight days last week. I mentioned that this was not a concern for the following reasons: 1) The selling last 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.
So far this week, we saw a down day on light volume on Monday, then a very strong, above average volume accumulation day on Tuesday. As I mentioned over the weekend, my interpretation of the recent price action was that the market was simply creating some doubt and fear ahead of the election. Of course, we will still see some volatility over the near-term, but once the uncertainty of the election is behind us, I feel the market will resolve to the upside during the seasonally strong months of November and December. Please keep in mind that the market mostly moves off earnings and interest rates. The Fed is cutting rates and pumping liquidity into the system, so we don’t want to fight the Fed. Also, earnings are strong driven by the AI secular growth story. If you have any questions, you can ask them during the next LIVE webinar, which will be this Thursday, November 7th at 7PM EST. Thank you and good luck for the remainder of the week.
Unusual Option Activity:
11/5/24 S&P 500 ETF (SPY) 1000 Jan $564 puts selling to open 10.55 to 10.43
11/5/24 Nasdaq 100 ETF (QQQ) 1500 Dec 6th (W) $500 calls bought this afternoon $9.09
11/5/24 Russell 2000 ETF (IWM) large buyers of 2100 Dec 13th $235 calls at $2.75 to $2.92 offer sweeps
11/5/24 Semiconductors ETF (SMH) large buyer for over 11,000 Jan $275/$305 call spreads at $4.50
11/5/24 Semiconductor Bull 3X ETF (SOXL) 2500 Nov 22nd $36 calls bought at $1.00 to $1.15, NVDA earnings that week
11/5/24 Biotech ETF (XBI) interesting high Delta opening sale 1300 June 2025 $99 puts for 7.40
11/5/24 Technology ETF (XLK) opening sale 1000 Nov 29th (W) $220 puts 3.50
11/5/24 China A Shares (ASHR) buyers of 2000 Jan 2026 $29 calls at $3.55 to $3.60
11/5/24 China A Shares (ASHR) also buyers of 1200 April $29 calls at $2.12
11/5/24 Regional Banks ETF (KRE) seeing size buys in Dec 6th (W) $60 and $61 calls
11/5/24 Costco (COST) buyers in April $870 and $845 puts for 390X and 420X, over $3M net premium
11/5/24 Dollar General (DG) buyer of 250 Jan 2026 $65 ITM calls at $25.30
11/5/24 Expedia (EXPE) 985 Dec $165 calls being sold to open 10 to 10.20
11/5/24 Caesars Entertainment (CZR) 20,000 Jan $32 puts sell to open $0.56
11/5/24 Booking Holdings (BKNG) 900 March $4650 calls open for $45M adjusting Jan $3700 calls, a position adjusting all year
11/5/24 Sweetgreen (SG) seeing 4000 Dec $40 calls buy near $5 and 2000 of the $50 calls sold against, reports 11-7
11/5/24 Berkshire Hathaway (BRK.B) with 1100 Dec 13th (W) $455 calls bought $6.60 to $6.80
11/5/24 TeraWulf (WULF) opening sale of 1250 Dec $9 ITM puts at $3.00
11/5/24 TeraWulf (WULF) also 2500 March $13 calls bought at $0.58
11/5/24 Eli Lilly (LLY) large trade bought 300 Sept $860 calls $78.95 and sold 450 of the $1200 calls $11.30
11/5/24 Danaher (DHR) 250 Jan 2026 $250 puts sell to open $23.10 to $23
11/5/24 Vertiv (VRT) 2500 Jan 2026 $110 puts sell to open at $22.38 as the large $92.50 short puts adjust higher
11/5/24 Lennar (LEN) 1000 March $175 puts sell to open $13.92
11/5/24 Astera Labs (ALAB) seeing 3000 Nov $100 calls buying $2.30 to $2.50
11/5/24 Jabil (JBL) 400 January $130 puts sell to open 8.20 bid
11/5/24 Nvidia (NVDA) early opening sales 5500 Nov 22nd (W) $132 puts $5.45, now at 10,000X
11/5/24 Nvidia (NVDA) seller of 1300 May $115 puts $8.61
11/5/24 On Semi (ON) 5000 Jan $55 puts sell to open 0.92
11/5/24 Taiwan Semi (TSM) 1250 Dec 6th (W) $195 puts sell to open $7.95 bids
11/5/24 Microsoft (MSFT) seeing buyers 3400 Nov $407.50 calls for $3M
11/5/24 Marvell Tech (MRVL) OTM June $120 calls bought 525X for $4.55 to $4.60
11/5/24 Workday (WDAY) 2500 Dec 13th (W) $200 puts sell to open $2.15
11/5/24 Twilio (TWLO) unusual buyers of 6000 Jan $100 calls at $1.97 to $2.00
11/5/24 Advanced Micro (AMD) block of 4000 Jan 2026 $100 puts sells to open 6.65
11/5/24 Applied Materials (AMAT) more bear flow as 500 March $170 puts bought $10.90
11/5/24 American Superconductor (AMSC) with 450 Jan $28 calls bought $3.80 offer
11/5/24 Palantir (PLTR) massive adjustments buying 2000 Dec 2026 $45 ITM calls at $19.75 as the Dec $25 calls roll
11/5/24 Palantir (PLTR) also sees buyers of 6000 Nov 22nd $50 calls up to $2.80
11/5/24 Oracle (ORCL) 400 Jan $190 puts deep ITM sell to open for $21.65
11/5/24 Coherent (COHR) buyer 1000 Dec. $105 calls $4, reports 11-6
11/5/24 Dell (DELL) massive trade opens 6500 Jan $145/$110 bull risk reversals for $5.80
11/5/24 Dell (DELL) also spreads selling 5000 Dec $110 puts to buy $145/$165 call spreads
11/5/24 Vistra (VST) seeing 1000 April $120 calls buy $19 to $19.10
11/4/24 Biotech ETF (XBI) sees 4000 March $110 calls buying $3.30
11/4/24 Technology ETF (XLK) 1200 Nov 22nd (W) $22.50 puts sell to open $5.35
11/4/24 Gold ETF (GLD) large block buys 2000 Dec $242 ITM calls at $14.78
11/4/24 Gold ETF (GLD) 3000 Jan $240 puts selling to open 2.33
11/4/24 Tesla (TSLA) opening sale 1250 August $125 puts $3.85
11/4/24 Dollar General (DG) opening sale 500 Jan 2027 $80 puts $17.40
11/4/24 Uber (UBER) seeing 1200 March $72.50 calls buy at $7.45
11/4/24 JD.com (JD) big buyers of 9000 Feb $41 calls $4.44 spread vs. Jan $65 calls
11/4/24 Lowe’s (LOW) with 1000 Jan 2026 $330 calls sell to open $11.05
11/4/24 PDD Holdings (PDD) buyer 600 Sept $135 calls $18
11/4/24 AppLovin (APP) opening sale of 750 March $170 calls at $21.70
11/4/24 Valero (VLO) buyer 300 Dec $120 calls ITM $13.20
11/4/24 Devon Energy (DVN) 750 Jan 2027 $37.50 puts sell to open $6.50
11/4/24 Schlumberger (SLB) 2000 March $35 puts sell to open 1.12
11/4/24 MicroStrategy (MSTR) buyer of 600 March $210 calls at $64.09 to $65.15
11/4/24 MicroStrategy (MSTR) buyers of 575 March $230 calls at $57 to $58.16
11/4/24 MicroStrategy (MSTR) 1300 March $170 puts selling to open $23.60, adjusting Nov $200 short puts
11/4/24 MasterCard (MA) buyer 400 April $530 calls for $19.90
11/4/24 Zillow (Z) buyer 400 May $75 calls $5.25
11/4/24 Blackstone (BX) buyer of 500 June $140/$150 ITM call spreads at $7.10
11/4/24 Affirm (AFRM) buyer 3000 Nov 29th (W) $48/$70 call spreads for $3.10, reports 11-7
11/4/24 Corvus Pharma (CRVS) large buyer of 10,000 Jan $9/$17 call spreads at $2.00
11/4/24 Verona Pharma (VRNA) buyers of Dec $40 calls 1750X $3.10
11/4/24 Applied Materials (AMAT) buyer 425 Sept $150 puts $12.30 offer
11/4/24 Applied Materials (AMAT) 425 April $175 puts bought $16
11/4/24 Nvidia (NVDA) 4000 Nov 29th (W) $147 calls bought for $2.1M as Nov 22nd (W) $145 adjust
11/4/24 Nvidia (NVDA) also seeing 1000 May $115 puts sell to open $9
11/4/24 MongoDB (MDB) 1800 Jan $195 puts sell to open $3.75 to $3.70
11/4/24 Astera Labs (ALAB) 1000 Dec $57.50 puts sell to open for 2.70
11/4/24 Microsoft (MSFT) buyer 2500 Feb $480 calls $3.65
11/4/24 HP Enterprise (HPE) stock replacement buys 2000 August $20 calls for $2.75
11/4/24 Pinterest (PINS) 1400 March $38 calls bought $2.28 to $2.38
11/4/24 Pinterest (PINS) also 1200 March $40 calls bought and 2000 Jan 2026 $60 calls bought $1.26
11/4/24 Apple (AAPL) 5000 June 2026 $210 calls bought $24M
11/4/24 Broadcom (AVGO) late day buyer of 2000 Sept $200 calls at $16.37
11/4/24 Constellation Energy (CEG) opening sale 2440 Jan $180 puts $3.61
11/4/24 Constellation Energy (CEG) also 2675 Dec $210 puts sold to open $8.60
11/4/24 S&P 500 ETF (SPY) buyers of 9000 Nov 29th $572/$581 call spreads at $4.57 and sells to open 6000 Nov 29th $531 puts for $2.26, adjusting some Nov spreads