Topics covered:
1) 0:00 Announcements
2) 0:15 Market Commentary and Index Review (Nasdaq Composite, S&P 500, and Russell 2000)
3) 9:40 FOCUS LIST: NVDA, META, NFLX, SPOT, PLTR, GEV, RKLB, UBER
4) 13:00 Stock Review – Aerospace/Defense: SHLD (ETF), XAR (ETF), KTOS, GE
5) 13:35 Stock Review – Software: IGV (ETF), MSFT, ORCL, NBIS, APP, SNOW, RBRK, NET, U, DOCS
6) 15:35 Stock Review – Semiconductors: SMH (ETF), TSM, AVGO, CLS, SANM, FN, AMSC, CRDO, ALAB, ANET, LASR, LITE, CGNX, WDC
7) 19:30 Stock Review – Energy/Data Center related: VST, CEG, VRT, NRG, WWD, POWL, BE, MOD, OKLO, SMR, NNE
8) 21:30 Stock Review – Others/General Ideas/Commentary: TSLA, GOOGL, EQT, BROS, HNGE, Z, TKO, RIGL, SHOP, DASH, RBLX, HOOD, SOFI, RDDT, MP, METC, AREC, USAR, REMX (ETF), IBIT
9) 25:55 Conclusion/Summary

Market Summary:
In this video, I summarize the Market Commentary section into four points: 1) Longer-term, we are still in a strong bull market powered by the growth in AI. Shorter-term, I am still expecting a range/consolidation. Know your timeframe and do what works for you. 2) September tends to be a seasonally weak month, so please be open-minded that we could see continued consolidation and possibly higher volatility. I include this statistic from Wayne Whaley: https://x.com/WayneWhaley1136/status/1961850130514002155 3) While going through my screens, I noticed that many stocks are consolidating near their 50-day moving averages. I prefer to be patient and see how they react around this key institutional support level. 4) Don’t get too bearish because a) We’re not seeing heavy volume selling from the institutions on the index level and b) We just had a 20% correction in Feb/March of this year.

For me, the conclusion is the same. I’m comfortable with my investment levels (approximately 50% invested) while waiting for better entry points. As I’ve mentioned in recent videos, I’m noticing some great relative strength, but I would like to give more time for bases to complete and to provide safer entry points. Thank you and good luck for the remainder of the week.

Unusual Options Activity:
9/3/25 Nasdaq 100 ETF (QQQ) stock replacement bought 4000 Oct $572 calls for 13.61
9/3/25 China Internet ETF (KWEB) buyer 10,000 Dec 41/44 call spreads for $0.71
9/3/25 Ultra Gold ETF (UGL) 2000 April $40 calls bought 4.80 to 5.00
9/3/25 Brazil ETF (EWZ) buyer 5000 Dec 31/34 call spreads
9/3/25 Tesla (TSLA) seeing buyers active in Nov $350 calls early 3000X
9/3/25 Tesla (TSLA) 25,000 Nov $335 calls buy $37.85 as Sept 290 adjust
9/3/25 Archer Daniels (ADM) 1585 March $72.5 calls bought $1.65 offer, keeps seeing OTM call buys
9/3/25 Electronic Arts (EA) buyer 500 March $190 calls for 6.18
9/3/25 Sysco (SYY) buyers late day 1150 Oct 82.50 calls 1.25 offer
9/3/25 DraftKings (DKNG) 1700 Oct $45 calls buying $4.25 to $4.35
9/3/25 AppLovin (APP) 1300 next week $495 calls bought as some $480 adjust higher
9/3/25 Wayfair (W) 1270 Sept 26th (W) $83 calls buy as Sept 12th (W) 77 adjust
9/3/25 Shopify (SHOP) notable opening sale 800 Sept 2026 $130 puts for $19.20
9/3/25 Carvana (CVNA) 1000 Sept $375 calls buy $9.50 to $10
9/3/25 First Solar (FSLR) opening sale 3000 June $120 puts $4.30
9/3/25 Citigroup (C) 2300 Nov $90 calls buying 8.25 to 8.35 offers
9/3/25 Bank America (BAC) 6000 Nov $48 short puts open $1.38
9/3/25 JP Morgan (JPM) buyer 2400 Nov $290 calls 18.63 adjusts Sept $290 calls
9/3/25 Sofi (SOFI) buyers active Nov $30 calls 15,000X today 1.46 to 1.50
9/3/25 AbbVie (ABBV) 550 Jan 2027 $200 calls sold to open 30.80
9/3/25 Tempus AI (TEM) seller of 450 April $75 puts to open for $15
9/3/25 Humana (HUM) buyer 850 Oct 3rd (W) $320 calls for $9.50
9/3/25 Caterpillar (CAT) 700 Oct $390 short puts opening 5.75 bids
9/3/25 Google (GOOG) 7000 Oct $245 OTM calls bought early for $2.5M
9/3/25 Google (GOOGL) 2200 June $240/$280 call spreads buying
9/3/25 Alibaba (BABA) buyers 1850 Nov $165 OTM calls 3.30 offer
9/3/25 Arista Networks (ANET) with 1150 Nov $140 puts sold to open $13.01
9/3/25 Celestica (CLS) buyers of Dec $220 calls 500X with 500 each of the $270 and $280 calls sold
9/3/25 Palantir (PLTR) 2500 Dec 2026 $100 short puts trade 11.55 to 11.40
9/3/25 Astera Labs (ALAB) second day of short puts with 2000 Feb $110 at 7.70
9/3/25 Micron (MU) 750 March $95 short puts open $6.30
9/3/25 Advanced Micro (AMD) size buyer 1000 April $180 calls $16.69
9/3/25 Meta (META) sees 2500 Nov $740 calls buy $45.57 adjusting Sept 725 calls
9/3/25 Taiwan Semi (TSM) buyer 750 Jan 2027 $230 calls $42
9/3/25 Credo Tech (CRDO) buyer 550 Feb $120 calls for $30
9/3/25 Nvidia (NVDA) 2000 August 2026 $130 puts sell to open $8.29
9/2/25 Brazil ETF (EWZ) buyer 10,000 Jan $32 calls $1.60
9/2/25 Gold ETF (GLD) seeing 9500 Oct 3rd (W) $330 calls bought for $4M
9/2/25 Ark Innovation ETF (ARKK) buyer 3500 Sept 73.5/63.5 put spreads
9/2/25 Software ETF (IGV) 2900 Oct $105 puts buy $2.65 offers
9/2/25 China Internet ETF (KWEB) 2000 June $35 short puts open 2.35
9/2/25 Gold Miners ETF (GDX) 1500 Dec 2027 $65 short puts opening 10.60
9/2/25 Tesla (TSLA) block of 1550 April $280 puts sells to open for 26.40
9/2/25 Dick’s Sporting Goods (DKS) 6000 Oct $180 short puts opening 1.90 to 1.85
9/2/25 AppLovin (APP) 410 Nov $380 short puts open 21.20
9/2/25 McDonald’s (MCD) 1700 Nov $330/$285 bull risk reversals open for $4.04
9/2/25 Bloom Energy (BE) 1000 Nov $80 way OTM calls buying up to $2.60, enormous bull OI in the name
9/2/25 Bloom Energy (BE) 320 Jan 2027 max strike $80 calls bought 11.50 to 12.00
9/2/25 Bloom Energy (BE) buyer 600 June 75 calls 8.40
9/2/25 Conoco Phillips (COP) 3000 Oct 97.50 puts sell to open down to 2.90
9/2/25 Robinhood (HOOD) sale to open of 1000 March 80 puts 8.10 bid
9/2/25 Robinhood (HOOD) huge opening sale 3000 Sept 2026 $85 puts 15.10 to 15
9/2/25 Goldman Sachs (GS) opening sale 150 Jan 2027 $700 puts for 71.60
9/2/25 Insmed (INSM) seller 1500 Nov $115 puts 2.40
9/2/25 Tempus AI (TEM) buyer of 2250 December $90 calls for $6.29
9/2/25 Revolution Medicine (RVMD) unusual 950 April $50 calls bought $3.20 to $3.75
9/2/25 Krystal Bio (KRYS) more bullish put selling as 400 Nov $150 ITM puts sold to open $12
9/2/25 United Health (UNH) 5000 Nov $320 calls opening with Oct adjusting
9/2/25 Liquidia (LQDA) 35,000 Oct $32.50 calls buy $2.10 as Oct 25 adjust
9/2/25 GE Vernova (GEV) 1575 Oct $460 short puts open 4.76
9/2/25 GE Vernova (GEV) also with $3M put premium selling to open in Jan $500 strike 950X
9/2/25 CSX (CSX) another 4000 June 2027 $32.50 calls buying $4.90 to $5, continuous accumulation
9/2/25 Cognex (CGNX) buyers of 2400 Nov $50 calls
9/2/25 Cognex (CGNX) also buyer 5000 Oct 45/50 call spreads
9/2/25 MP Materials (MP) 1000 Jan $55 short puts open $5.05
9/2/25 CoreWeave (CRWV) buyer of 3000 Oct $115 calls $4 to $4.20
9/2/25 Astera Labs (ALAB) trading 3500 Oct $150 calls early for $12.5M as Sept adjust
9/2/25 Astera Labs (ALAB) 4500 Nov 2026 80 short puts open 8.75
9/2/25 Alibaba (BABA) 900 Feb $150 calls buy 10.60 to 10.90
9/2/25 Alibaba (BABA) 5000 Nov $140 calls bought for $5.2M
9/2/25 Alibaba (BABA) 1400 Feb $150 calls bought
9/2/25 Alibaba (BABA) seller of 1000 June $130 puts for $13.63
9/2/25 Snowflake (SNOW) 375 Nov $270 deep ITM puts sold to open $42.50 to $40.50
9/2/25 Nvidia (NVDA) NVDA 1080 August 2026 $140 short puts open 11.21
9/2/25 Nvidia (NVDA) opening seller 2250 April $140 puts $8.46
9/2/25 Nvidia (NVDA) 2000 April $170 calls buying $23.60
9/2/25 SanDisk (SNDK) buyer 900 Oct $45 calls 7.20 to 7.40
9/2/25 Baidu (BIDU) sees 2000 Nov $100 calls buy $5.45 to $5.60
9/2/25 Reddit (RDDT) buyer 400 Sept 2026 $360 calls $25.70
9/2/25 Reddit (RDDT) opening sale 1000 Sept 2026 $115 puts 10.86
9/2/25 Google (GOOGL) sees a massive buy May $250 calls 5000X $9.45 to $9.55
9/2/25 Google (GOOG) 1800 Oct 200 puts sold to open 5.50
9/2/25 Microsoft (MSFT) 1500 Nov $440 short puts opening 4.80 to 4.75
9/2/25 Tower Semi (TSEM) more bull flow as 2000 Oct $65 calls are bought
9/2/25 Arista Networks (ANET) 250 March $155/$135 bull risk reversals trade for a net credit
9/2/25 Celestica (CLS) buyer 800 Dec 200/260 call spreads
9/2/25 Fabrinet (FN) 300 Oct $350 calls bought $14 to $15
9/2/25 EchoStar (SATS) seeing size spreads buying Oct $70 calls and selling Sept $60 puts 4000X
9/2/25 Constellation Energy (CEG) opening sale 625 Nov $290 puts 17.50
9/2/25 Vistra (VST) buyer 2000 Sept 187.50 calls 7.74 adjusts Nov 200 calls

S&P 500 Index Note:
At 5:15PM EST on September 5, any membership changes to the S&P 500 index will be announced. BAML notes that MKTX is a likely candidate to be dropped from the index leaving an additional opening (the FL buyout is already one opening). Potential inclusion names remain APP and HOOD, while TW and ARES are two financial candidates as well. Other potential names include: PINS, CVNA, LNG, VEEV, VRT, DUOL, RDDT. Less likely, but names that meet the criteria include: ZM, TOST, HEI, EME, GWRE.