Topics covered:
1) 0:00 Announcements
2) 0:30 Market Commentary and Index Review (Nasdaq Composite, S&P 500, and Russell 2000)
3) 9:55 Stock Review – Watch List/General Ideas/Commentary: CELH, CLDX, ORGO, MU, MTSI, LRCX, AMAT, UCTT, ICHR, SMH (ETF), PINS, SNAP, VRNS, VOXX, PGNY, ZI, IZRL (ETF), PERI, CAMT, SILC, RADA
4) 19:15 Current Setups – ALGN, INMD, FTHM
5) 21:45 Conclusion/Summary

Market Summary:
The Nasdaq Composite and S&P 500 found support so far this week near their 50-day moving averages. The Russell 2000 also bounced off its 21-day. I discuss in this video how every once in a while, we seem to have these quick 3-5 day sharp pullbacks in many growth stocks. The S&P 500 doesn’t seem to correct as much because sector rotation keeps it propped up, but many growth stocks can correct 3-4 times the index. There are three ways to deal with this: 1) If you are a longer-term investor, get strong entry points and accept the volatility along the way. 2) If you are a short-term trader, take profits into strength, especially when the index gets extended or when you have outsized gains in a short period of time. 3) Have a blend of stocks and ETFs to help mitigate the volatility.

Overall, I will continue with my strategy of sticking with the trend. Although it seems like we keep bouncing off key support levels, I will still pass along any warnings signs (even if they are minor) to help protect members in case we break down further. I didn’t find too many setups in my work tonight. If you take any new positions, I still suggest using half positions until the volatility calms down. One other announcement, I will try to condense these MidWeek videos in order to save time for members. I will still go through the larger group of stocks in the Weekend Videos. Thank you and good luck for the remainder of the week.

Unusual Option Activity
2/24/21 Adobe (ADBE) spreads selling 2000 April $420 puts to buy the $485/$525 call spreads
2/24/21 II-VI Inc (IIVI) with 2400 July $100 calls bought $6.40 to $7.20
2/24/21 MP Materials (MP) buyer 2500 September $45 calls $8.70 to $8.90
2/24/21 Snowflake (SNOW) vote of confidence as 700 August $260 puts are sold to open $39.60, earnings 3-3
2/24/21 Marvell (MRVL) with 2,500 April $50 calls opening for $2.85 today as the March $55 calls adjust ahead of 3-3 earnings.
2/24/21 Palantir (PLTR) the June $18 puts being sold to open this afternoon 3,450X for $1.36
2/24/21 Cree (CREE) size buyers of 1300 April $100 ITM calls for $19.50 to $21, follows the consistent OTM call buying over the last two months in the name including buyers in the March $135 calls yesterday and the April 1st (W) $127 calls on Friday.
2/23/21 Apple (AAPL) dip buys 2500 March $122 calls $4.27
2/23/21 Cree (CREE) the March $135 calls bought 1300X for $2.25, same size OTM call buys we’ve seen in the name for months now
2/23/21 Baidu (BIDU) into early weakness with 650 March 26th (W) $320 calls bought $25 to $26.50 range
2/23/21 Redfin (RDFN) with 700 August $60 puts sold to open today for $5.70 ahead of earnings tomorrow
2/23/21 Uber (UBER) with 11,500 May $55 calls bought from $5.95 up to $6.55, recent size Sept. $70 call buys in the name
2/22/21 Celsius (CELH) with 1000 March $60 calls being bought up to $10.50
2/22/21 Nasdaq 100 ETF (QQQ) buyers of Mar. 31st (Q) $330 calls 4300X near $8.85
2/22/21 Bill.com (BILL) large opening sale of 14,779 March $140 puts for $0.65
2/22/21 DataDog (DDOG) seeing over 13,250 March $85 puts sold to open for $0.50, similar to BILL.
2/22/21 Redfin (RDFN) with 650 May $75 puts sold to open for $5.20 today
2/22/21 ThermoFisher (TMO) buyers active today for more than 1,000 March $490 calls between $5.90 and $6
2/22/21 Pinterest (PINS) opening sale 1750 September $75 puts down to $11.83
2/22/21 Microsoft (MSFT) with buyers 3000 March 26th (W) $250 calls up to $2.56