Topics covered:
1) 0:00 Announcements
2) 0:15 Market Commentary and Index Review (Nasdaq Composite, S&P 500, and Russell 2000)
3) 7:10 Conclusion/Summary

Market Summary:
The message is the same as the past several videos: Stay defensive, be patient, and remain disciplined in your trading. If you are going to trade, use lighter than normal positions, get strong entry points, and stick to a loss cutting discipline. In healthier conditions, the market can sometimes forgive you for being undisciplined. However, in corrective markets, it can be ruthless if you don’t adhere to strict principles. I prefer not to do much trading because 4 out of 5 stocks move with the general direction of the market and we are clearly in a downtrend.

In recent videos, I’ve reviewed some of the factors needed for a sustained, new uptrend. Most importantly, I would like to see tons of growth stocks setting up. I also want to see consistent upside volume from the institutions, the Fed change their hawkish tune, the major indexes to get back above key moving averages, and more of a sentiment washout. Again, for all this to occur, it will require continued patience. I will continue to work for you and curate a watch list, but for now, I don’t have too many stocks to discuss because 1) I’m not finding any and 2) I’m doing my best to keep people out of harms way. I really don’t want to encourage trading right now. If you want to play a countertrend rally, I suggest using ETFs and using small positions. Thank you and good luck for the remainder of the week.

Unusual Option Activity
2/23/22 Mosaic (MOS) buyer 2250 April $50 calls $1.58 as March $45 closed
2/23/22 Software ETF (IGV) with 2000 May $320/$290 put spreads opening as March spreads adjust
2/23/22 Nasdaq 100 ETF (QQQ) with 5000 June 2023 $315/$415 call spreads bought
2/23/22 Nasdaq 100 ETF (QQQ) also with 8750 of the June 2023 $365 calls bought for $6M, 5000 June 2023 $325 calls opening $27.20
2/23/22 S&P 500 ETF (SPY) buyer 24,000 May $420/$375 put spreads this afternoon and sells 12,000 March $450 calls
2/23/22 S&P 500 ETF (SPY) also a large opening seller of 22,000 July $455 calls this morning for $19M
2/23/22 Diamondback Energy (FANG) buyer of 4,500 Jan $140/$180 call spreads for $10.60, adjusting higher the $125 calls
2/23/22 Taiwan Semi (TSM) with buyers of 1275 May $125 calls for $5.55 today
2/23/22 Marvell Tech (MRVL) buyer of 2,400 April $72.50 calls for $4.35 today
2/22/22 Nasdaq 100 ETF (QQQ) with 15,000 April $345/$370 call spreads bought for $9.74
2/22/22 Nvidia (NVDA) with 5000 April $190 puts sold to open $4.70 to $4.65
2/22/22 Devon Energy (DVN) the July $60 calls sold 5000X for $4.47 to open today
2/22/22 Schlumberger (SLB) with 15,000 March $47 calls sold to open today from $0.29 to $0.27
2/22/22 Valero (VLO) opening sale of 700 January 2024 $70 puts for $10.15
2/22/22 Occidental (OXY) buyers today of more than 9,500 March $35 puts from $1.05 to $1.07
2/22/22 Apple (AAPL) with 3,500 March 11th (W) $162.50 puts sold to open today for $3.35 to $3.30
2/22/22 Nike (NKE) with 1000 March 11th (W) $135 puts sold to open for $3.15
2/22/22 Treasury ETF (TLT) buyer of 23,000 March $140 calls $1.86 as the $145 adjust