Topics covered:
1) 0:00 Announcements
2) 0:15 Market Commentary and Index Review (Nasdaq Composite, S&P 500, and Russell 2000)
3) 13:35 FOCUS LIST: NVDA, META, NFLX, SPOT, PLTR, GEV, RKLB, UBER
4) 18:25 Stock Review – Aerospace/Defense: SHLD (ETF), XAR (ETF), KTOS, GE, PL, ATRO
5) 20:40 Stock Review – Software: IGV (ETF), MSFT, ORCL, NBIS, VEEV, APP, NET, U, DOCS
6) 22:25 Stock Review – Semiconductors: SMH (ETF), TSM, AVGO, KLAC, LRCX, CLS, SANM, JBL, AMSC, CRDO, ALAB, ANET, LASR, LITE, WDC
7) 26:50 Stock Review – Energy/Data Center related: VST, CEG, VRT, NRG, WWD, BE, MOD, OKLO, SMR, NNE
8) 28:50 Stock Review – Others/General Ideas/Commentary: EQT, BROS, HNGE, Z, W, RIGL, TARS, MRUS, GH, LQDA, SHOP, DASH, RBLX, HOOD, SOFI, RDDT, MP, METC, AREC, REMX (ETF), IBIT
9) 34:55 Conclusion/Summary

Market Summary:
In last weekend’s video, I mentioned that half of me is noticing the incredible resilience of this bull market, and the other half of me is thinking we are due for some sort of a pullback or consolidation. This past week, we saw a little bit of both. The week started off with a decline (where many growth stocks corrected more than the general market), and then the market showed its incredible resilience when it rallied back nicely at the end of the week. The rally was mostly due to Fed Chair Powell telegraphing that the Fed will likely cut interest rates at their next meeting on September 17.

As you know, I like to look at the positives and the negatives and always be open-minded with my approach. There are many positives right now: 1) The recent pullback in the Nasdaq Composite occurred on below average volume; telling me there wasn’t any heavy selling from the big institutions. 2) The Nasdaq Composite, the Nasdaq 100, and many leading stocks (NVDA, META, CLS, GEV, RKLB) bounced off their 10-week moving averages; showing institutional support at that key level. 3) While the S&P 500 and Nasdaq Composite ended up basically flat on the week, money rotated into small caps (IWM) and mid caps (MDY), showing broader participation, which is healthy for the overall market. Negatives: 1) The current and upcoming weaker seasonality. 2) The S&P 500 hasn’t visited its 50-day in a while.

So, was last week the pullback and that’s all we are getting? I honestly don’t know. I still think we are going to be in a range over the near-term and I’m sticking with my investment levels (approximately 30-50% invested) while waiting for better entry points. As I mention in this video, I’m noticing some great relative strength, but I would like to give more time for bases to complete and provide safer entry points. Thank you and enjoy the rest of your weekend.

Unusual Options Activity:
8/22/25 S&P 500 ETF (SPY) buyer of 4000 Jan $685 calls at $7.98, adjusting the $675 calls
8/22/25 S&P 500 ETF (SPY) buyer of 5000 Oct 31st $625/$600 put spreads for $3.62
8/22/25 Russell 2000 ETF (IWM) 3000 Dec 2027 $185 puts sell to open $9.72
8/22/25 Russell 2000 ETF (IWM) 5900 Oct $230 puts sell to open $5.19 as March adjust
8/22/25 Russell 2000 ETF (IWM) also 3000 Oct $219 puts sold to open $2.95
8/22/25 Semiconductors ETF (SMH) buyer of 1000 Nov $320 calls at $7.82
8/22/25 Bitcoin ETF (IBIT) 4000 Oct $69 calls buy at $2.95 and sells 6000 Oct $75 calls at $1.28
8/22/25 Tesla (TSLA) 4800 Sept 12th $350 calls bought $8 offers
8/22/25 Under Armour (UA) after insider buying this week sees 1150 Jan 2027 $4 ITM calls bought $1.89 to $1.94
8/22/25 Under Armour (UA) also a block of 5000 Jan $5 puts sold to open at $0.52
8/22/25 ON Holding (ONON) large opening seller of 8000 Nov $37.50 puts at $0.96 as the Oct $42.50 short puts adjust
8/22/25 Wolverine World Wide (WWW) 3000 Sept $30 calls buying $1.45 to $1.62
8/22/25 Shopify (SHOP) buyers of 420 March $155 calls at $16.25 offers
8/22/25 BJs Wholesale (BJ) sees 1800 Nov $85 deep ITM calls bought $15.50
8/22/25 Exxon (XOM) 2500 Oct $100 ITM calls bought for $11.75 to $12 in large lots
8/22/25 Marathon Petroleum (MPC) buyers of over 875 Jan 2027 $200 calls at $12.80 to $14
8/22/25 Zillow (Z) sees 1200 Sept $85 calls bought up to $2.75
8/22/25 Zillow (Z) also 400 Jan 2027 $105 calls bought at $10.55 in a stock replacement
8/22/25 Blackstone (BX) buyers of 725 Dec 2026 $170 calls at $25.15
8/22/25 Mastercard (MA) opening seller of 507 June $540 puts for $19.15
8/22/25 Wave Life Sciences (WVE) buyers of 1675 April $17.50 calls at $1.40 offers
8/22/25 Rocket Lab (RKLB) buyer of 500 April $45 calls at $10.80 as the Jan 2027 $65 calls adjust
8/22/25 USA Rare Earth (USAR) buyers of 2500 Oct 3rd $14.50 calls at $2.63 to $2.80
8/22/25 Tower Semi (TSEM) buyers of 1100 Sept $52.50 calls $2.10 to $2.50
8/22/25 CoreWeave (CRWV) large opening seller of 8975 Oct $55 puts for $0.75
8/22/25 Celestica (CLS) 500 Nov $190 calls bought at $24.65
8/22/25 Quantum Computing (QUBT) opening sellers of 1000 Jan 2027 $15 puts at $5.90 bids
8/22/25 ServiceNow (NOW) opening seller of 610 Oct $760 puts at $9
8/22/25 Texas Instruments (TXN) buyer of 2400 Nov $210 calls at $12 to $13
8/22/25 Broadcom (AVGO) 1000 August 2026 $350/$230 bull risk reversals opening at $15.04 debit, reports 9/4
8/22/25 Vertiv (VRT) buyer of 1800 Oct $140 calls for $5.14
8/22/25 Dell (DELL) with 1300 March $130 puts sold to open for $15.33
8/21/25 S&P 500 ETF (SPY) buyer of 1000 Dec 2027 $830 calls at $11.26
8/21/25 Nasdaq 100 ETF (QQQ) sees 1350 Jan $489.78 puts sell to open $7.99
8/21/25 Nasdaq 100 ETF (QQQ) large lots buying 2500 Sept 30th $565 calls at $13.60 to $14
8/21/25 Biotech ETF (XBI) large buyer of 1750 Dec 2027 $135 calls at $4.55
8/21/25 Healthcare ETF (XLV) 1500 March $140 calls bought at $6.60 and sells the $135 puts at $4.32 in bull r/r
8/21/25 Regional Banks ETF (KRE) opening seller of 1700 Sept 2026 $60 puts at $5.25
8/21/25 Bitcoin ETF (IBIT) buyer of 1000 Nov $59 ITM calls at $8.35
8/21/25 Walmart (WMT) opening sales of 5900 October $85 puts at $0.41 to $0.44
8/21/25 Walmart (WMT) also 8400 Sept $91 puts sold to open $0.58
8/21/25 EQT (EQT) opening sale 8205 Oct $45 puts at $0.58 as Aug 29th $51 puts adjust
8/21/25 Expand Energy (EXE) buyer of 4705 Jan 2027 $150 calls at $1.60, adjusting Sept calls
8/21/25 Insmed (INSM) 200 Jan 2027 $120 ITM calls bought at $37 and buys 200 of the $125 calls at $34.30, over $1M combined
8/21/25 Madrigal Pharma (MDGL) 500 January $400 calls bought $57.70 to $59
8/21/25 Agios Pharma (AGIO) buyer of 2000 Jan $45 calls at $5.70 and sells 5k Sept $35 puts at $1.55
8/21/25 Nvidia (NVDA) opening sale of 2000 August 2026 $120 puts at $6.01 bids
8/21/25 Nvidia (NVDA) buyers of 1000 Sept $167.50 ITM calls at $14.50 offer sweeps
8/21/25 Nvidia (NVDA) massive buyer of 50,000 Sept $172.50 calls at $10.17 as the $160 calls adjust higher
8/21/25 Alibaba (BABA) buyers of 400 Dec 2027 $120 calls at $30.50
8/21/25 Unity Software (U) large buyers of over 12,000 Oct $43 calls at $1.69 to $1.90 offers
8/21/25 Taiwan Semi (TSM) opening seller of 1400 Feb $180 puts at $5.17
8/21/25 Arista Networks (ANET) opening sales of 1450 Nov $105 puts at $3.20 bids
8/21/25 Palantir (PLTR) sells 400 May $125 puts at $14.70