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Topics covered:
1) 0:00 Announcements
2) 0:50 Market Commentary and Index Review (Nasdaq Composite, S&P 500, and Russell 2000)
3) 11:20 Stock Review – Energy/Commodity: XLE (ETF), OIH (ETF), XOP (ETF), APA, EOG, FANG, DVN, HP, MPC, MUR, TDW, MOS, CF, NTR, ADM, BG, DAC, TRTN, MP
4) 16:40 Stock Review – Relative Strength Watchlist: ACLS, AOSL, GFS, BROS, SG, EVH, HRMY, ITCI, SRRA, UNP, CLH, LLY
5) 21:10 Conclusion/Summary

Market Summary:
The big question continues to be: Is this a new, sustained uptrend? A rally within a bear market? Or will the market be in a range for a while? The direct answer is I don’t know yet and I would still like to see the market prove itself before exposing more capital. The reason I don’t see much sustained upside over the near-term is because of the Fed. In this video, I review several examples of how powerful the Fed can be, especially when they pause a rate-hiking cycle and/or provide liquidity into the market. Right now, they are doing the opposite, which is why I don’t want to fight the Fed. In addition, the geopolitical tensions between Russia and Ukraine continue to be a headwind.

This doesn’t mean we have to go lower. In fact, I wouldn’t be surprised to see a range over the near-term to shake out some of the recent excessive bearishness. What would make me more bullish is if we digest the recent gains with little distribution and if more stocks set up. For now, I remain approximately 40% invested and I will continue to take this day-by-day. As always, your decisions should be based on your own timeframe, investment objectives, and risk tolerance. In this video, I review a watch list of stocks showing great relative strength. Many ran nicely over the past week and are currently extended. I don’t recommend chasing them and would wait for better entry points if looking to buy. Also, I would continue to keep positions light until we get more clarity, as I’m still expecting volatility to be high over the next several weeks. Thank you and good luck for the remainder of the week.

Unusual Option Activity
3/23/22 Apple (AAPL) with 2650 April 29th (W) $180 puts sold to open for $11.05 this afternoon in large lots
3/23/22 Nvidia (NVDA) seeing buyers 2500 May $90 calls $8.25 to $8.90 this morning
3/23/22 Occidental (OXY) buyer of 4,500 May $65 calls for $4.30, adjusting higher out of the April $52.50 calls
3/23/22 Semiconductors ETF (SMH) today with 15,500 June $215 puts bought to open $4 to $4.30
3/23/22 Marathon Petroleum (MPC) more bull flow with the May $85 and $87.50 calls being bought over 1000X each
3/23/22 Zillow (Z) buyers of near 400 November $55 calls today for $9.95
3/23/22 Mosaic (MOS) with 1500 May $65 puts opening $4.90 to $4.85 as sales
3/23/22 Peabody Energy (BTU) with 3000 January 2024 $17 OTM puts sold to open for $5.60
3/23/22 CF Industries (CF) buyer of 600 May $105 calls for $7.15, adjusting higher the $95 calls
3/23/22 Salesforce (CRM) with 10,000 May $170 puts sold to open this morning down to $1.85
3/23/22 Micron (MU) with 1200 October $60 puts sold to open $3.75
3/22/22 Schlumberger (SLB) trading 5000 May $45/$35 bull risk reversals at $0.86 debits into the close
3/22/22 Amazon (AMZN) with 1100 May $3290 calls opening as the $3100 calls adjust
3/22/22 Palo Alto (PANW) with 500 June $680 calls bought $19.60 to $21.90
3/22/22 Mosaic (MOS) opening seller 2000 May $60 puts for $3.82
3/22/22 CSX Corp (CSX) the Nov $37.50 calls being bought 1200X for $3.25/$3.30 after the recent size bull buys
3/22/22 Nkarta (NKTX) seeing spreads buy 1000 May $15 calls and sell the April $10 puts
3/22/22 Diamondback Energy (FANG) with over 900 September $110 puts sold to open today for $8
3/22/22 Tesla (TSLA) buyers this morning of 1500 April $1060 calls $13.30 to $13.55
3/22/22 ON Holdings (ONON) with over 3,500 April $30 calls sold to open for $1.05 this afternoon
3/22/22 Inmode (INMD) with buyers of 1000 May $45 calls today from $3.10 to $3.30
3/22/22 Alpha Omega (AOSL) with 1000 April $60 puts being sold $3.40 to $2.80 to open this afternoon
3/22/22 Alpha Omega (AOSL) also seeing 340 OTM May 70 calls bought on $4.10 offers on wide bid-ask
3/21/22 Tesla (TSLA) with 2,000 July $1,250 calls being bought this morning from $24.50 to $28.35
3/21/22 Dollar General (DG) opening sale of 750 January $200 puts for $10.50
3/21/22 Danaos (DAC) buyer of the May $110/$125 call spread 1425X for $3.40, name popular with put sales
3/21/22 Diamondback Energy (FANG) more bull flow with buyers of 890 September $175 calls and 425 September $165 calls
3/21/22 Cameco (CCJ) opening sale of 3000 May $28 puts for $2.39
3/21/22 EOG Resources (EOG) buyers of 1200 April $134 calls for $1.92
3/21/22 EOG Resources (EOG) also seeing 1000 October $144 calls bought aggressive to open $7.80 offer
3/21/22 Marathon Petroleum (MPC) buyers of nearly 4000 April $85 calls up to $1.10 today
3/21/22 Mosaic (MOS) buyers of 1000 April 1st (W) $67 calls from $2.20 to $2.50 to open today
3/21/22 Apache (APA) buyer 2000 OTM Oct. $60 calls for $1.97
3/21/22 Apache (APA) also with 1325 January $50 calls bought $4.95 offer
3/21/22 Archer Daniels (ADM) with 1175 April $85 calls bought $3.20 to $3.30
3/21/22 Advanced Micro (AMD) with 1500 April 22nd (W) $115 calls bought $6.50 offer
3/21/22 Global Foundries (GFS) seeing the Oct $70/$80 call spread close and adjust higher to open the $85/$100 call spread 1000X1300