Topics covered:
1) 0:00 Announcements
2) 0:15 Market Commentary and Index Review (Nasdaq Composite, S&P 500, and Russell 2000)
3) 11:00 FOCUS LIST: NVDA, META, NFLX, SPOT, PLTR, GEV, EQT, RKLB, UBER
4) 16:25 Stock Review – Aerospace/Defense: SHLD (ETF), XAR (ETF), HWM, KTOS, DRS, GE, ASTS, JOBY, ACHR, RDW, ATRO, BKSY, PL, KRMN
5) 18:30 Stock Review – Software: IGV (ETF), NBIS, ORCL, RBRK, CRWD, CYBR, TWLO, SNOW, VEEV, DOMO
6) 20:20 Stock Review – Semiconductors: SMH (ETF), TSM, AVGO, ARM, MU, KLAC, TTMI, CLS, JBL, FN, AMSC, CRDO
7) 21:50 Stock Review – Energy/Data Center related: VST, CEG, VRT, NRG, WWD, BE, OKLO, SMR, NNE
8) 22:55 Stock Review – Others/General Ideas/Commentary: HNGE, COIN, BROS, IONQ, ARQQ, SHOO, ATI, TOST, TKO, DASH, HOOD, RBLX, SHAK, IBIT
9) 25:20 Conclusion/Summary

Market Summary:
We’re still in a power trend because the major indexes are above their key moving averages, there’s little distribution, and many growth stocks continue to act well. As I mentioned, I reduced some of my exposure into the strength over the past week or so. Please don’t read too much into this. I’m simply doing it to lock in some gains. Based on the probabilities and the seasonality, I am expecting some form of a pullback/consolidation over the next two months. I can’t stress this enough: What you should do depends on your timeframe, risk tolerance, and your overall plan. In other words, please don’t copy me or anyone else blindly. Make decisions based on WHAT WORKS FOR YOU.

In last weekend’s video, I reviewed many of the positive signs: 1) We are just breaking out of a 6-month range on the S&P 500 and Nasdaq Composite. 2) We just had a 20% correction. 3) There’s almost no distribution on the Nasdaq Composite and only subtle distribution on the S&P 500. 4) Sentiment is neither euphoric nor at extreme bullish levels. 5) Many growth stocks continue to act well. 6) The longer-dated bullish options flow continues to be very strong.

To summarize my views as concisely as I can: Shorter-term, I recently reduced my exposure down to approximately 50% invested to lock in some gains and because I am expecting some form of a pullback/consolidation over the near-term. If we keep going higher over the next few weeks, I’m ok with that because I still have exposure. If we do see a pullback, I am not expecting anything major, and I will look to put money to work in some of the best relative strength names. Right now, it looks like some of those will be in the Aerospace/Defense sector, and AI-related stocks, but of course I will keep screening to find some of the strongest names. Longer-term, I am still bullish and think we’re in a secular bull market powered by AI. Again, please know your timeframe and keep in mind that actively managing a stock portfolio is not easy.

Remember the main guidelines during power trends: 1) Use the 21-day as your guide. In other words, if we are extended from this level, don’t be surprised to see minor pullbacks through price and/or through time. 2) Expose yourself to strong stocks and ETFs. Between the Focus List and the other stocks, there are plenty of ideas in these videos. 3) Get strong entry points near the 21-day and 50-day moving averages. 4) Manage your trades as best as possible based on your timeframe, risk tolerance, and overall investment plan. I can give guidelines, but ultimately, you need to decide what position sizes to use, the number of positions to own, when to take profits, and where to set your stop losses. Thank you and good luck for the remainder of the week.

Unusual Options Activity:
7/23/25 Regional Banks ETF (KRE) 15,000 Sept $66/$72 call spreads bought
7/23/25 China Internet ETF (KWEB) 12,500 Jan $38 calls bought $3.35 to $3.40, also the Oct $42 calls 9200X
7/23/25 Financial Bull 3X ETF (FAS) 3000 Jan. 2027 $100 calls adjust to $180 strike
7/23/25 Silver ETF (SLV) sees 8700 March $35.50 calls bought at $3.70 to $3.75
7/23/25 Anheuser-Busch (BUD) bull flow with 2000 Sept $70 calls buying
7/23/25 Hims and Hers Health (HIMS) August $56 puts selling to open 3000X $6.45 bids
7/23/25 Ford (F) 4000 Sept 2026 $12 short puts opening 1.93
7/23/25 Coca-Cola (KO) buyer of 2500 Aug 29th $70 calls at $1.02
7/23/25 Netflix (NFLX) 525 Aug 29th (W) $1075 short puts open 7.85 bid
7/23/25 Lyft (LYFT) buyers 5500 Aug 29th (W) $17 calls 0.55 to 0.57
7/23/25 Airbnb (ABNB) buyer 300 Sept 2026 $160 calls for 15.65
7/23/25 Groupon (GRPN) 1000 Sept $28 puts sell to open 2.10 to 2.15
7/23/25 Expand Energy (EXE) buyer of 2000 Sept 100/115 call spreads for 3.10
7/23/25 Citigroup (C) 2500 August $99 calls buying $0.70
7/23/25 UBS Group (UBS) more bull flow with 850 Sept $35 calls bought 3.60 offers
7/23/25 Robinhood Markets (HOOD) opening sales of 1000 Aug 29th $106 ITM puts at $11.10 bids
7/23/25 Galaxy Digital (GLXY) buyers of 2750 Aug 8th $32 calls at $2.50 to $3
7/23/25 Intuitive Surgical (ISRG) opening sale of 1510 August 29th $475 puts at $3.50
7/23/25 Intuitive Surgical (ISRG) also buyers of 500 Sept $505 calls at $22 to $23
7/23/25 Eli Lilly (LLY) buyer of 5000 Dec $1000/$1200 call spreads at $16.41
7/23/25 Eli Lilly (LLY) opening seller of 400 Sept 2026 $760 puts at $86.65 as the Jan $820 short puts adjust
7/23/25 GE Vernova (GEV) buyer 1000 August $700 calls $4.50 to $4.90
7/23/25 Intuitive Machines (LUNR) with 5000 Sept $17 calls buying 0.72 to 0.87
7/23/25 3M (MMM) buyer 2500 Sept $155 calls $3.90 and 2250 of the $165 calls
7/23/25 3M (MMM) buyer of 4000 August $155 calls at $2.30
7/23/25 Johnson Controls (JCI) 2500 August 115/105 bull risk reversals open 0.20
7/23/25 Johnson Controls (JCI) 1700 Oct $100 puts sold to open 2.25 as well
7/23/25 Johnson Controls (JCI) 2500 Nov 120 calls buy $4
7/23/25 Taiwan Semi (TSM) stock replacement sells 1000 May $210 puts at $14.40
7/23/25 Google (GOOGL) buyers 3000 Dec $210 calls for $2.5M
7/23/25 Nebius Group (NBIS) 2025 Nov $40 short puts open 3.81
7/23/25 Nebius Group (NBIS) also 1000 Jan $35 short puts open $3.11
7/23/25 Oracle (ORCL) 2800 Feb $310/$320 call spreads buying at $1.66
7/23/25 Unity Software (U) 1000 Nov $32 short puts open $4.60 in an adjustment trade
7/23/25 Unity Software (U) also seller of 900 March $30 puts $5.10
7/23/25 Oklo (OKLO) 1500 Jan $60 puts sold to open at $11.90
7/23/25 Vistra (VST) 800 Nov $135 puts sell to open $3.20
7/23/25 NuScale Power (SMR) 1500 Sept $42 puts sold to open 4.61
7/23/25 NRG Energy (NRG) aggressive buyer 1000 Sept $200 calls $2.35
7/23/25 T-Mobile US (TMUS) 500 June 2026 $220 puts sold to open 15.05
7/22/25 Bitcoin ETF (IBIT) buyer of 10,000 August 29th $78 calls at $0.82 as July 31st adjust
7/22/25 Bitcoin ETF (IBIT) large opening seller of 25,000 Aug 1st $66 puts at $0.90 as weekly short puts adjust
7/22/25 Bitcoin ETF (IBIT) buyers of 6500 August 29th $74 calls at $1.50 to $1.58 offer sweeps
7/22/25 Bitcoin ETF (IBIT) sellers of 1400 Jan $61 puts at $5.05 bids
7/22/25 Ethereum ETF (ETHA) buyers of 2500 Jan $38 calls at $2.85 to $2.97
7/22/25 Grayscale Ethereum ETF (ETHE) buyers 9000 Oct $32 OTM calls $3.80 to $4 offers
7/22/25 Japan ETF (EWJ) 5000 August $75 calls bought 0.50 to 0.55
7/22/25 Software ETF (IGV) trade put on 2500 Sept 120/105 bull risk reversals at a 0.70 credit
7/22/25 Retail ETF (XRT) 1350 deep ITM Sept $87 puts sold to open 5.70 to 5.60
7/22/25 RH (RH) sees 1000 August $240/$190 bull risk reversals open at 0.90 credit
7/22/25 Lululemon (LULU) buyer 1000 August $230 calls $5.60 offer
7/22/25 Tesla (TSLA) buyer 2000 Dec $340 calls $44.84
7/22/25 Ford (F) buyer 10K January $13 calls 0.34 to 0.35
7/22/25 Uber (UBER) buyers 1200 Nov $92.50 calls up to $8.40, adjusting August $85 calls
7/22/25 Best Buy (BBY) aggressive buys 3000 August 1st (W) $68 calls $1.85 offer sweeps
7/22/25 CAVA Group (CAVA) 500 March $85 short puts open $12
7/22/25 Spotify (SPOT) buyer of 300 Jan $800 calls at $56.20 offer
7/22/25 Expand Energy (EXE) size bull trade buys 2000 Jan 2027 $120 OTM calls $7.70
7/22/25 Robinhood Markets (HOOD) buyers of 800 Aug 29th $100 calls at $9.10 to $9.60
7/22/25 Robinhood Markets (HOOD) 1500 Dec $80 short puts open 6.63
7/22/25 Berkshire Hathaway (BRK.B) buyer 450 Nov $515 calls $8.85 offer
7/22/25 Chime (CHYM) buyer 1200 Dec $47.50 calls 2.55 to 2.70
7/22/25 Eli Lilly (LLY) buyer 300 Sept 850 calls 24 to 24.15
7/22/25 GE Vernova (GEV) 1270 Aug 29th (W) $445 short puts opening 3.80
7/22/25 Modine Manufacturing (MOD) 600 August $95 calls buying $5.70 to $6.90
Data Center play reports next week and 2500 Aug 100 long calls sit in OI as do 1500 Aug 90 calls
7/22/25 Cameco (CCJ) 1500 August $73 short puts opening 2.28 to 2.16
7/22/25 Rocket Lab (RKLB) 1500 Aug 8th (W) $50 calls bought 2.92
7/22/25 Redwire (RDW) seller 2000 Nov 20 calls
7/22/25 Google (GOOGL) opening sale of 1700 Feb $175 puts at $10.20 to $9.90 bids
7/22/25 Taiwan Semi (TSM) opening sales of 6700 Aug 29th $230 puts for $7.35 to $7.30
7/22/25 Dell (DELL) buyer 500 Aug 29th (W) $125 calls $8.50 offer, reports 8-28
7/22/25 Credo Tech Group (CRDO) 10,290 Sept $55 short puts open $1 to $0.95
7/22/25 CoreWeave (CRWV) 10,290 Sept $55 short puts opening 0.79
7/22/25 CoreWeave (CRWV) 600 March 150/100 bull risk reversals open for a credit
7/22/25 Vertiv (VRT) 7575 Aug 22nd (W) $95 short puts opening $1.33
7/22/25 Jabil (JBL) 500 Jan $190 puts sell to open $9.20
7/22/25 Celestica (CLS) 600 August $162.5 calls bought 9.20 to 9.90
7/22/25 Micron (MU) 620 Feb $90 puts sold to open 5.50
7/22/25 Marvell Tech (MRVL) 1000 Sept 2026 $60 short puts open $8.15
7/22/25 Microsoft (MSFT) 15,000 Nov $565 calls buying as Aug 510 adjust
7/22/25 Unity Software (U) sweep buyer 1500 March $40 calls $6.25 offer
7/22/25 Oklo (OKLO) 1500 Aug 22nd (W) $70 calls bought $5.53 to $5.61
7/22/25 GDS Holdings ADR (GDS) more bull flow with buyers 2000 Oct $37 calls $4.40 to $4.70
7/22/25 NuScale Power (SMR) buyers of 8000 August $50 calls at $2.80 to $3.20
7/22/25 Constellation Energy (CEG) 500 Sept $260 short puts open $6.08
7/21/25 S&P 500 ETF (SPY) large block of 10,000 June 2026 $715 calls sell to open for $10.28
7/21/25 Semiconductors ETF (SMH) 1000 March $320/$305 bull risk reversals open for a large credit
7/21/25 Bitcoin ETF (IBIT) sees 6000 Sept $69 calls bought at $4.10 offer in a single block
7/21/25 Gold Miners ETF (GDX) buyer of 2500 Dec $58 calls at $2.58 as $55 calls adjust
7/21/25 Biotech ETF (XBI) opening sale 1250 August $86 puts for $2.09
7/21/25 China ETF (CWEB) 3450 Jan $44 calls bought $8.70
7/21/25 China ETF (FXI) buyer of 100,000 Sept 30th (W) $40 calls $1.13
7/21/25 Pepsi (PEP) opening sales of 2750 Sept 2026 $140 puts at $12 to $11.85
7/21/25 Nike (NKE) 12,000 Oct $80 calls buying 2.71 to 2.82
7/21/25 ON Holding (ONON) stock replacement sells 2400 March $45 puts at $3.35
7/21/25 CAVA Group (CAVA) 700 Aug 22nd (W) $88 calls buy 6.95 offers
7/21/25 AppLovin (APP) buyer 2000 Aug 1st $370 calls at $14.75 as $350 calls adjust from early July trade
7/21/25 Citigroup (C) opening sale of 3000 March $95 ITM puts at $8.45 as Jan $90 short puts adjust
7/21/25 Coinbase (COIN) 1900 Sept $330 short puts opening at $9 and 1375 Oct $290 puts with opening sales $6.15
7/21/25 Coinbase (COIN) seeing a lot of short puts open today, 900 Nov $290 sell to open 10.45
7/21/25 Coinbase (COIN) also 2000 Aug 22nd $345 puts sell to open $6.10
7/21/25 Coinbase (COIN) buyer 550 March 2026 $610 calls $40.35
7/21/25 Schwab (SCHW) 1500 Dec $95 short puts open 4.65 bid
7/21/25 Schwab (SCHW) large buyer of 7000 Nov $100 calls for $4.19 as the Aug $92.50 calls adjust
7/21/25 Robinhood Markets (HOOD) buyers of 1200 August $114/$119 call spreads at $1.65
7/21/25 Robinhood Markets (HOOD) also buyers of 3600 August $118/$123 call spreads at $1.39
7/21/25 Visa (V) 250 Dec 2026 $320 puts sell to open 19.80
7/21/25 Berkshire Hathaway (BRK.B) 5000 Aug 1st (W) $475 puts sold to open $3.20
7/21/25 Berkshire Hathaway (BRK.B) also large opening sales 5000 Aug 8th (W) $475 puts down to $5.90
7/21/25 Gilead Sciences (GILD) 1000 Dec 2027 $110/$80 bull put spreads sell to open $10.60
7/21/25 Novo Nordisk (NVO) 1000 March $65 short puts open 7.65 bids
7/21/25 AbbVie (ABBV) 5000 Nov $210 calls sold to open 3.47
7/21/25 Kratos Defense (KTOS) 600 Nov $65 calls bought with $50 strike adjusting higher
7/21/25 Joby Aviation (JOBY) buyer 1000 Sept $19 calls $2.73
7/21/25 Johnson Controls (JCI) buyer 2500 Nov $120 calls at $3.50
7/21/25 GE Vernova (GEV) 200 Nov $540 short puts open $42.50
7/21/25 Newmont (NEM) 500 June 2026 $60 puts sell to open $6.85
7/21/25 Astera Labs (ALAB) over 4000 January $100 ITM calls bought at $33 to $34.70
7/21/25 Taiwan Semi (TSM) opening sale 1000 Aug 22nd (W) $240 at the money puts $9.10
7/21/25 Taiwan Semi (TSM) massive adjustment rolls the 58K Sept $200 calls up and out to buy 64,000 Oct $220 calls at $30.48
7/21/25 Taiwan Semi (TSM) 1000 Aug 29th $240 puts sell to open $9.60
7/21/25 Palo Alto (PANW) March $220/$210 bull put spreads active 600X
7/21/25 Dell (DELL) 1700 Oct $140 calls bought $6.65 to $6.70 looking to add to OI
7/21/25 Broadcom (AVGO) 5000 Jan $185 puts sold for $3.60
7/21/25 D-Wave Quantum (QBTS) with 1850 Oct $21 calls bought $3.50
7/21/25 Palantir (PLTR) buyers of 4000 Oct $200 calls at $4.75 to $5.30
7/21/25 Palantir (PLTR) also size buys of 5000 Sept $210 and $220 calls
7/21/25 Meta (META) seeing 15,000 Jan 2027 $1430 calls bought again at $9.80 as more $1250 calls adjust
7/21/25 Nvidia (NVDA) large opening sale for 8850 Aug 29th $170 puts at $8
7/21/25 Nvidia (NVDA) size opening sale 3600 Feb $150 puts $9.61
7/21/25 Reddit (RDDT) opening seller 300 Sept $145 puts 15.85
7/21/25 Micron (MU) 2000 Aug 22nd (W) $114 calls buying $5.85 to $6
7/21/25 Domo (DOMO) more bull flow with 900 Sept $15 puts sold to open $1.20 bids
7/21/25 Marvell Tech (MRVL) block of 10,000 Nov $95 calls bought at $2.61
7/21/25 Camtek (CAMT) buyer of 1220 Nov $95/$115 call spreads at $7.47 as August spreads adjust
7/21/25 Cadence Design (CDNS) opening sales of 240 Jan $340 ITM puts at $32.50 to $31.80
7/21/25 Twilio (TWLO) 3500 Sept $135 calls buy $9.40 as $120 calls adjust
7/21/25 GDS Holdings ADR (GDS) buyer 3000 August $36 calls $3.30 adjusting $38 strike
7/21/25 NuScale Power (SMR) 1500 April $65 calls bought $11.06 as Nov 50 calls adjust
7/21/25 Nano Nuclear (NNE) 550 Dec $27 short puts open $3.30