Topics covered:
1) 0:00 Announcements
2) 0:30 Market Commentary and Index Review (Nasdaq Composite, S&P 500, and Russell 2000)
3) 8:55 Stock Review – Mega Caps: AAPL, MSFT, GOOGL, TSLA, QQQ (ETF)
4) 10:55 Stock Review – Software: ZS, CRWD, OKTA, AVLR, DOCU, BILL, NOW
5) 14:40 Stock Review – Semiconductors: NVDA, AMD, ASML, ON, SMH (ETF)
6) 16:00 Stock Review – Medical Products: ALGN, INMD, DXCM, CDXS, SWAV, INSP
7) 17:30 Stock Review – Retail (Restaurants/Clothing): WING, FND, LULU, CELH
8) 19:10 Stock Review – Watch List/General Ideas/Commentary: ALB, LTHM, AFRM, ENVX, RDWR, RBLX, CRCT (trade idea), ORMP (trade idea)
9) 25:40 Conclusion/Summary

Market Summary:
As I discussed in recent videos, I was expecting some volatility over the near-term. One reason is that the Nasdaq Composite was extended from its 21-day moving average, and during uptrends, it is perfectly normal for the index to pull back to this level. We are currently in the process of that pullback and I’m anticipating three possible scenarios from here: 1) We bounce off the 21-day and head back to new highs. I don’t see this one happening so quickly because we still have to get through the end of the quarter portfolio adjustments and the upcoming Fed meeting on September 22. 2) We bounce off the 21-day, head a little higher this week because this is the week of regular cycle options expiration, and then head down to the 50-day later this month. 3) We don’t find support right away at the 21-day and continue to correct down to the 50-day.

Rather than guess, I prefer to be patient. The best way to summarize my stance right now is “wait and see.” I am in some positions from lower levels that I like longer-term and I have some cash that I will likely put to work in some strong stocks. I’m just waiting to get through the next few weeks, and I would also like to see where the market stabilizes. Again, be patient. Although I like to have some foresight and anticipate possible scenarios, I would also like to remind members to stick to their plan. Don’t feel the need to trade or to force anything, especially if you are a longer-term holder. I’m just here to remind you that we will likely see more volatility into the end of the month, but, overall, these pullbacks to support levels are normal price action within the bigger picture uptrend. If you have any questions or would like me to review stocks not covered in this video, you can ask them during the next webinar, which will be Sunday, September 12th at 7:30PM EST. Thank you and enjoy the rest of your weekend.

Unusual Option Activity
9/10/21 Netflix (NFLX) buyers active in November $650 calls 2000X
9/10/21 Nvidia (NVDA) with 1500 March $235/$300 call spreads bought for $15.40
9/10/21 Nvidia (NVDA) large spread sold 4000 March $200 puts to open $13.27 while buying 6000 of the $170 puts $5.88, around a net credit of $2M
9/10/21 Digital Ocean (DOCN) with 1600 February $50 calls opening near $25 for over $4M
9/10/21 Affirm Holdings (AFRM) with 2200 October $110 calls opening for $1.9M as September adjust bull bets
9/10/21 Affirm Holdings (AFRM) now a $7M Nov. $110 call position opens bought $13.70 to $13.90
9/10/21 Cloudflare (NET) opening sale of 600 Nov $125 puts earlier 8.80
9/10/21 Floor and Decor (FND) seeing some buyers in Jan 150 calls today 550X
9/10/21 Coinbase (COIN) 700 Oct. 22nd (W) $255 calls bought $15.70 to $16
9/10/21 Palo Alto (PANW) Dec. $480 calls up to 2800X now with 650 above offer $27 here
9/10/21 Bill.com (BILL) 1000 January 2023 $250 puts sell to open for $46.70
9/9/21 DexCom (DXCM) 300 March $380 puts sold to open $10.20 today
9/9/21 Facebook (FB) seeing spreads 3500X today sell the November $330 puts and buy the $395/$425 call spreads
9/9/21 Apple (AAPL) with November $150/$160 call spreads active as weekly spreads adjust
9/9/21 Coinbase (COIN) with 350 November $270 puts sold to open down to $28.60
9/9/21 Affirm Holdings (AFRM) buyer of 1000 January $90 calls $14.90 into earnings as the September $90 calls adjust
9/9/21 Palo Alto (PANW) with 1500 January 2023 $500/$340 bull put spreads opening ITM for a credit of $65.50
9/9/21 Russell 2000 ETF (IWM) block of 5000 December 2023 $220 puts sold to open for $29.70 in a near $15M trade as January $220 adjusted
9/9/21 Biotech ETF (XBI) with 2500 November $125 puts selling to open near $4.20