Topics covered:
1) 0:00 Announcements
2) 0:35 Market Commentary and Index Review (Nasdaq Composite, S&P 500, and Russell 2000)
3) 3:40 Education – Three Concepts: The Price Action of Stocks, Mega Caps, Trader vs. Investor
4) 14:10 Stock Review – Watch List/General Ideas/Commentary: AMR, ARCH, CEIX, PRCT, VLO, IMO, LLY
5) 17:50 Conclusion/Summary

Market Summary:
The message is the same: We’re in a correction, stay defensive, and I don’t see any sustained upside until the Fed is done with their rate-hiking cycle or at least pauses it. Some members have asked me if I think the Fed will be dovish at their upcoming Wednesday, May 4th meeting because of this recent market decline, but I highly doubt it. They are just getting started with their interest rate hikes and it’s going to require a lot of patience and discipline until they are finished. Of course, we can still get some oversold bounces like we saw last Thursday, but the key word is sustained, and I don’t see anything sustained over the near-term.

In this video, I review how we are seeing accelerated volume selling in the major indexes. This is not the time to be complacent. Learn to have some “sit out” power and wait patiently. Since there’s noting major to say besides stay defensive, I decided to review three market concepts in this video: The importance of the price action of stocks in determining the market’s health, reviewing the Mega Caps, and the sacrifices that are made whether you’re a trader or investor. If you have any questions, you can ask them during the next webinar, which will be Monday, May 2nd at 7:30PM EST. Thank you and enjoy the remainder of your weekend.

Unusual Option Activity
4/29/22 S&P 500 ETF (SPY) with over 30,000 May $398 puts being bought today up to $5.06 in large lots
4/29/22 Russell 200 ETF (IWM) with 40,000 May $182 puts opening this morning with the $180 adjusting
4/29/22 Bill.com (BILL) with 1000 May $180 calls sold to open for $19.30 to $18.80 ahead of 5-5 earnings
4/29/22 Snap (SNAP) the July $25 puts being bought 4000X this afternoon for $1.97 to $2.02
4/29/22 Apache (APA) with 3000 May $38.50 puts sold to open for $1.46
4/29/22 Marathon Oil (MRO) 6000 May $25 puts are sold to open for $1.34
4/29/22 ON Holdings (ONON) with 1000 October $35 calls being bought from $1.70 to $1.80 ahead of mid-May earnings
4/29/22 Amazon (AMZN) May/June $2600 calendar call spreads opening 1000X
4/28/22 Taiwan Semi (TSM) opening sale 10,000 January $80 puts for $5.75 adjusting the $90 strike
4/28/22 Nvidia (NVDA) afternoon buyers of 3000 August $240 calls $9.75 to $10
4/28/22 Qualcomm (QCOM) buy of 25,000 October $130 calls for $25.35, adjusting June $165 calls
4/28/22 Cameco (CCJ) with 10,000 May $28 calls bought for $1.42 and spread with the $31 calls that are likely rolling back
4/28/22 Marathon Oil (MRO) sweep buy of 1500 Oct. $25 calls $3.55.
4/28/22 Marathon Oil (MRO) also seeing 5000 June $27 calls bought for $1.69 to $1.74
4/28/22 DataDog (DDOG) sale to open of 1000 Jan. 2024 $140 puts at $44
4/27/22 PayPal (PYPL) afternoon opening seller 1750 Sep. 2023 $75 puts for $13.30 into earnings