Topics covered:
1) 0:00 Announcements
2) 0:30 Market Commentary and Index Review (Nasdaq Composite, S&P 500, and Russell 2000)
3) 7:45 Stock Review – Watch List/General Ideas/Commentary: SWAV, CELH, GH, XBI (ETF), PRCT, ENVX, ALB, LTHM, EVH, CALM, XENE, AKRO, AMLX, RXDX, VRTX, CCRN, CALX, DINO
4) 13:15 Conclusion/Summary

Market Summary:
In this video, I review the positives and the negatives in the market. Positives: 1) Seasonality. 2) Sentiment. 3) The S&P 500 undercut the June low on Tuesday. 4) Apple had negative news on Tuesday night but held up well on Wednesday and didn’t bring the entire market down. 5) New accommodation from the Bank of England. Negatives: 1) The technicals are still weak. 2) The US Fed is still raising rates and fighting inflation. Conclusion: Be patient, stay defensive, don’t get too negative, give the market time to prove itself, and if you want to trade keep things light.

As I’ve mentioned many times, the big institutions control the market and we need to see them come back in with CONSISTENCY on the up days. Wednesday was a start, but we need to see more days like this before we see any SUSTAINED uptrend. I’m optimistic that we will have some decent opportunities in the fourth quarter, but it will require some patience. I still don’t think the big institutions will support this market until the Fed gives a verbal confirmation that they will pause/stop their current rate hiking cycle. The Bank of England’s move today could be a sign that the Fed will stop soon (because the global central banks tend to be coordinated with their actions) but we still need to be patient and wait for confirmation. Good luck for the remainder of this week.

Unusual Option Activity:
9/28/22 Nasdaq 100 ETF (QQQ) seller of 20,000 March $315/$250 strangles for $22.31
9/28/22 Nasdaq 100 ETF (QQQ) also 90,000 March $265 puts opening for $150M as Dec. $285 adjust
9/28/22 Ark Innovation ETF (ARKK) buyers of 10,000 November $38 puts $3.20
9/28/22 Netflix (NFLX) buyer of 725 January 2024 $290 calls $44.95 to $45.20
9/28/22 Exxon Mobil (XOM) with 900 April 100 calls sold to open 4.90 bid
9/28/22 AstraZeneca (AZN) buyer of 750 January 2024 $50 calls for $10.45
9/28/22 ChargePoint (CHPT) with 10,000 Oct $16 puts sold to open at $1.60, adjusting some Oct 7th puts
9/28/22 Microsoft (MSFT) buyer 1000 Oct. 14th (W) $235 calls $8.25 to $8.60
9/28/22 Apple (AAPL) buyer of the Oct. 28th (W) $140/$120 put spreads 7000X as the $150/$130 adjust
9/28/22 Google (GOOG) buyer 1000 November $95 calls for $8.40
9/28/22 Snowflake (SNOW) with 420 March 105 puts sold to open for 6.90
9/28/22 Datadog (DDOG) buyers of 2000 Oct 14th $90 calls at $4.90
9/27/22 S&P 500 ETF (SPY) opening seller 1000 January 2025 350 puts for 36.94
9/27/22 Consumer Staples ETF (XLP) trade opens 10,000 June $71/$40 bull risk reversals for $3.95 debit
9/27/22 General Motors (GM) sees 5000 October $33 puts bought at $1.30
9/27/22 Academy Sports (ASO) buyer 1100 June $37 puts to open $3.75 offer
9/27/22 Devon Energy (DVN) buyer of 1000 November $55 calls $5.90 to $6.25
9/27/22 Occidental (OXY) with 1000 each Oct. 28th (W) $58 and $59 calls bought $4 to $4.15 range
9/27/22 Zscaler (ZS) buyer 200 March 180 calls $21.75 offer
9/27/22 Okta (OKTA) with 1000 November $60/$70 call spreads bought to open
9/26/22 Nasdaq 100 ETF (QQQ) opening sale 7300 September 2023 $220 puts for $11.04
9/26/22 Monster Beverage (MNST) buyer 300 January $75 calls at $15.60 offer
9/26/22 Pfizer (PFE) buyers 3350 February $42.50 puts for $2.70
9/26/22 Microsoft (MSFT) buyer 2200 October $235 ITM calls for $12
9/26/22 Microsoft (MSFT) also with 4350 December $275 calls sold to open 3.80
9/26/22 Apple (AAPL) buyers active in November $130 OTM puts today 27,000X for over $6M