Topics covered:
1) 0:00 Announcements
2) 0:25 Market Commentary and Index Review (Nasdaq Composite, S&P 500, and Russell 2000)
3) 4:30 FOCUS LIST: XBI (ETF), CELH, SWAV, PRCT
4) 6:50 Stock Review – Watch List/General Ideas/Commentary: IRTC, TMDX, LNTH, AXNX, GH, EVH, VERV, XENE, AXSM, CYTK, DICE, NGM, BMEA
5) 12:10 Stock Review – Watch List Continued: LTHM, ALB, ENPH, QYLS
6) 13:45 Stocks near buyable ranges: PRVA, ENVX
7) 15:40 Conclusion/Summary

Market Summary:
There are many stocks that I like into year-end but my biggest concern continues to be the overall market. I don’t have the conviction that we will see anything sustained until the Fed pauses their current rate hiking cycle. How do I reconcile this problem? By using lighter positions. That way, if the market sees more downside, you hopefully don’t get hit as bad, and if the market surprises to the upside, you can participate and always increase exposure if it continues to prove itself. The reasons why I don’t have strong conviction include the hawkish Fed and the poor technicals (which I discuss in this video). I am of course open-minded that the market has possibly priced in most of the rate hikes, but I need to see more consistent buying from the institutions before I increase my exposure.

Please keep in mind that everyone has different timeframes. I always encourage members to make decisions based on their own investment objectives. I think we will get more clarity in the next few weeks after the next inflation (CPI) report on September 13th and the next Fed meeting on September 21st. Until then, I will remain defensive but I’m not going to get overly bearish. The biggest positive right now from a contrarian view is the extremely bearish sentiment. If any positive news comes out, the market could surprise to the upside. My feeling is that we will see some stronger opportunities in the fourth quarter and to just be patient until conditions improve. Good luck for the remainder for the week!

Unusual Option Activity:
9/7/22 S&P 500 ETF (SPY) opening seller in November $372 puts 3500X near $9
9/7/22 Apple (AAPL) sweep buyers this afternoon after the event of 5000 Oct. 7th (W) $155 calls up to $6.40 offer
9/7/22 Russell 2000 ETF (IWM) block of 7500 December 2024 $185 puts sold to open for $25.70
9/7/22 Enphase Energy (ENPH) 1.2M in Jan 2024 450 OTM calls bought this morning
9/7/22 Enphase Energy (ENPH) also with 1000 Oct. 400 calls bought 5.35
9/7/22 Cytokinetics (CYTK) 4600 Nov $65 calls bought aggressively at $2.90 offers, adjusting the Sept calls
9/7/22 Enovix (ENVX) buyer of 3000 January 30/40 call spreads for 1.05
9/7/22 Digimarc (DMRC) unusual 1350 Dec 35 calls bought 0.40 with stock at 16.25
9/7/22 Google (GOOGL) buyer 2700 December $112.50 calls for $6.30
9/7/22 Stem (STEM) seeing 2000 Sep. 23rd (W) 16 calls bought up to $0.90
9/7/22 Revance Therapeutics (RVNC) with 10,000 October 22.5/30 call spreads opening as the 20 calls close
9/7/22 Inspire Medical (INSP) with 500 October $200 calls opening up to $8.70
9/7/22 Amazon (AMZN) with 2000 Sep. 23rd (W) $127 calls bought $4.15 this morning
9/7/22 Amazon (AMZN) also 1000 January 111.50 puts sold to open 6.16
9/7/22 Salesforce (CRM) large spread sells 3200 Dec 130 puts to buy the 165/185 call spreads, net 0.25 debit
9/7/22 Amazon (AMZN) seeing similar spreads as CRM with Dec $100 puts sold to buy $135/$150 call spreads 4000X
9/7/22 Google (GOOG) similar spread as AMZN, CRM with Dec $90 puts sold to buy the $115/$150 call spreads 4420X
9/6/22 Nasdaq 100 ETF (QQQ) opening sale 1500 Oct. 14th (W) $291 puts for $11.38
9/6/22 Semiconductor ETF (SMH) with 2350 December $210 ITM puts sold to open $17.20
9/6/22 I-Rhythm (IRTC) buyer 750 October $165 calls for $8.50, size Sep. calls opened last week
9/6/22 Enphase Energy (ENPH) with 1973 November $400 calls opening $6.95
9/6/22 Enphase Energy (ENPH) also 600 November $270 calls bought $48.30
9/6/22 Privia Health (PRVA) buyers of 1500 November $42.50 calls at $4.00
9/6/22 SeaGen (SGEN) with 1000 October $175 calls opening $5.40 to $5.55
9/6/22 Apple (AAPL) opening sale 15K Sep. 23rd (W) 157.5 calls for 3.55
9/6/22 Amazon (AMZN) buyer 7500 October $135/$155 call spreads as Oct. 140 calls adjust
9/6/22 Amazon (AMZN) also with 10,000 December $100 puts sold to open 2.79
9/2/22 Microsoft (MSFT) with late day buyers of 1500 June $315 calls bought at $9.10
9/2/22 Enphase Energy (ENPH) with 250 October $250 in-the-money calls bought at $46
9/2/22 Seagen (SGEN) with 500 January $150 puts sold to open $14.60
9/2/22 Occidental (OXY) with 2000 Sep. 30th (W) $71 puts sold to open $4.75
9/2/22 Cal-Maine Foods (CALM) opening sales of October $60 ITM puts for $7.90