Topics covered:
1) 0:00 Announcements
2) 0:40 Market Commentary and Index Review (Nasdaq Composite, S&P 500, and Russell 2000)
3) 5:50 Stock Review – Energy: XLE (ETF), XOP (ETF), OIH (ETF), USO (ETF), OXY, MPC, DVN, DINO, MRO, VLO
4) 9:00 Stock Review – Watch List/General Ideas/Commentary: MRK, LLY, BMY, HSY, K, POST, SWCH
5) 10:40 Conclusion/Summary

Market Summary:
Nothing has really changed in the market and the conclusion is the same: Stay defensive and be patient! The market continues to be volatile, it can’t sustain any rallies, the institutions are still selling, and the technicals are horrible. I know this can be a VERY frustrating time for most investors/traders, but you can reduce your frustration by not trading until conditions improve. If you just have a little patience, there will be strong opportunities later this year. The key is to stay disciplined until then.

In this video, I discuss a level of interest in the S&P 500 (around 384 SPY), which would be a 20% correction and an area to possibly nibble on the index ETF. Again, I prefer that members sit out, but if you are inclined to trade, consider index ETFs and VERY light positions in any individual stocks to keep you from getting tossed around. If you have any questions, you can ask them during the next webinar, which will be this Sunday, May 15th at 11AM EST. Thank you and good luck for the remainder of the week.

Unusual Option Activity
5/11/22 Apple (AAPL) the May $147 puts being sold to open 10,000X down to $2.11
5/11/22 Occidental (OXY) with 28,000 June $67.5 calls bought late for $2.93 and spread against 28,000 of the $85 calls
5/11/22 S&P 500 ETF (SPY) size buyers this afternoon for 25,000 June $376 puts worth $20M
5/11/22 S&P 500 ETF (SPY) also a buyer 22,000 July $388 puts for $32M adjusts the $400 puts
5/11/22 Salesforce (CRM) opening sale 400 June 2023 $185 calls for $23.85
5/10/22 Biotech ETF (XBI) with 4000 August $75 calls bought $3.75 to $4.35 today
5/10/22 Pfizer (PFE) with 9,000 Sept $47 calls opening for $4.99 as the June $46 calls close and adjust out
5/10/22 Bunge (BG) buyers of 480 June $100 calls up to $12.90
5/10/22 Nutrien (NTR) with 2000 January $95 puts sold to open for $12.40
5/10/22 Z-Scaler (ZS) buyers of 745 June $140 puts this morning up to $11.45
5/9/22 Livent (LTHM) seeing 1750 July $22.50 puts sold to open for $1.75
5/9/22 Merck (MRK) with 2000 May $88 calls bought $1.56 offer
5/9/22 EQT (EQT) with a block of 2300 January 2024 $40 puts sold to open for $11
5/9/22 Amazon (AMZN) buyer opening 1000 June 3rd (W) $2300/$2400 call spreads for $37.50
5/9/22 Marathon Oil (MRO) with 3,500 June 3rd (W) $28/$30 call spreads bought today for $0.55
5/6/22 Peabody (BTU) buyer of 1000 October $22 calls for $5.95 to $6, adjusting higher the $20 calls
5/6/22 Occidental Petro (OXY) buyers of 2,500 July $90 calls for $1.32 to $1.33
5/6/22 Chevron (CVX) with 1,750 November $125 puts sold to open for $3.50
5/6/22 Microsoft (MSFT) with 1000 August $220 puts sold to open for $5.05
5/6/22 Nvidia (NVDA) opening sales of 13,750 June $140 puts from $3.50 to $3.40
5/6/22 MasterCard (MA) late day sales of 2,500 May $305 puts down to $1.55
5/6/22 Visa (V) with opening sales of 4,500 May $185 puts from $1.45 to $1.43, similar to Mastercard