Topics covered:
1) 0:00 Announcements
2) 0:30 Market Commentary and Index Review (Nasdaq Composite, S&P 500, and Russell 2000)
3) 6:00 FOCUS LIST: XBI (ETF), CELH, SWAV, HALO
4) 10:30 Stock Review – Watch List/General Ideas/Commentary: EVH, MNST, GH, NTLA, NTRA, BEAM, CRSP, ARKG (ETF), TMDX, CORT, ASRT, PLAB, ENPH, AMLX, CALM, PRCT, LNTH, IRTC
5) 17:00 Stocks near buyable ranges: EVH, GH, PRCT
6) 17:55 Conclusion/Summary

Market Summary:
The price action so far this week has been strong for 3 reasons: 1) The pullback on Monday/Tuesday occurred on light volume (showing no heavy selling by the institutions). 2) The Nasdaq Composite found support near its 21-day EMA. 3) Beneath the surface, many of the growth stocks on our focus list continue to act well, even during the Mon/Tues pullback. The market bounced on Wednesday after the Fed announced its expected 75 basis point rate hike. I feel the surge was due to two reasons: Fed Chair Powell hinted that the pace of future rate hikes were likely to be slower and sentiment continues to be very negative. I discuss all these points in today’s video.

From here, I don’t think we’re out of the woods. The Fed still needs to wait for inflation to come down and hinted that they might need to do an unexpectedly large rate hike if the data is not favorable. Therefore, I don’t see the indexes screaming higher, but I think many of the stocks on our watch list will continue to act well. Keep in mind that we still have to get through Apple and Amazon’s earnings after the close on Thursday and we could see some end-of-the-month profit taking. Ideally, it would be nice to pullback on light volume if this happens. If you have any questions, you can ask them during the next webinar which will be Monday, August 1st at 7PM EST. Thank you and good luck for the remainder of the week.

Unusual Option Activity:
7/27/22 Biotech ETF (XBI) opening sales 3500 Dec. $58 puts for 1.75
7/27/22 Microsoft (MSFT) 2450 Oct 210 puts with opening sellers 2.05
7/27/22 Microsoft (MSFT) also 1000 January 2024 $235 calls opening for $5.8M
7/27/22 Shopify (SHOP) opening seller 2900 October $30 puts $3.30, similar to MSFT post-earnings action
7/27/22 Amazon (AMZN) 3K Aug 109 puts sold to open 2.21 into earnings
7/27/22 Enphase Energy (ENPH) buyer 250 January 290 calls for 28.12 as the 230 calls adjust up
7/27/22 Occidental Petroleum (OXY) buyers 1750 December $72.5/$90 call spreads
7/27/22 Devon Energy (DVN) buyer 500 September $50 calls for $10.30
7/27/22 Nvidia (NVDA) with 3500 November 115 puts selling to open this morning at 3.20
7/26/22 Google (GOOGL) with 1000 November $96 puts sold to open for $4.20
7/26/22 Meta (META) opening sale 2500 June 2024 $160 puts for $34.50
7/26/22 Apple (AAPL) late day opening seller 3000 Sep. 2nd (W) $160 puts for $11.30
7/25/22 1Life Healthcare (ONEM) 7500 Nov 17.50 calls trade 0.35, seen some sell-side talk of a potential higher bid
7/25/22 Energy ETF (XLE) far OTM call buyers January 2024 $105 strike 4000X at $3.30
7/25/22 Amazon (AMZN) January 2024 $70 synthetic long opening 5000X at $55.85 for over $25M
7/25/22 Assertio Holdings (ASRT) unusual buy of 1500 ITM September $2 calls at $1.40 offers
7/25/22 Apple (AAPL) seeing buyers in Sep. 2nd (W) $155 calls 1200X this morning into earnings for $670K
7/25/22 Apple (AAPL) also with 1350 February $125 puts sold to open $5
7/25/22 Tesla (TSLA) with 475 Oct. $820 calls being bought for $4.5M
7/25/22 Natera (NTRA) trade opens 1750 August $50/$40 bull risk reversals for $0.10 debit
7/25/22 Zillow (Z) spread buys back short Nov $45 calls, opens 3525 Nov $40 short calls $3.75 and buys 4000 Dec 2023 $40 calls for $9, seeing longer-term upside
7/22/22 Shockwave Medical (SWAV) with a large deep ITM call buyer on 7/22 for 700 December $150 calls bought at $75.00 for over $5.25M
This follows August $210 calls bought on 7/12 for $9.95 over 450x and December deep ITM $130 calls bought earlier in July for $1.6M