Topics covered:
1) 0:00 Announcements
2) 0:25 Market Commentary and Index Review (Nasdaq Composite, S&P 500, and Russell 2000)
3) 8:50 Stock Review – Watch List/General Ideas/Commentary: SWAV, GH, XBI (ETF), RVNC, RXDX, EVH, ENVX, LTHM, ALB, SGML, AKRO, CCRN, RYTM, AMLX, VERV, GKOS, PI, DINO, MPC, HES
4) 17:55 Conclusion/Summary

Market Summary:
In this video, I emphasize a few points from the Weekend Video (10/1/22). Last week, riskier assets did not sell off as much as the general market (both percentage wise and volume wise). You could see this in how the Russell 2000, Biotech ETF (XBI), and Ark Innovation ETF (ARKK) all held up well. From a contrarian point of view, sentiment was very negative heading into this week. My conclusion was to be patient, stay defensive, but don’t get too negative because the majority are very bearish. If you had a heavy cash position, I was ok with buying small positions in the index ETFs until stocks set up.

Reviewing the price action so far this week, Monday and Tuesday were very strong days as the favorable seasonality kicked in and the Reserve Bank of Australia only raised rates Sunday night by 25 basis points (bps). They were expected to raise by 50 bps, so they became the first major central bank to pivot to smaller interest rate hikes. In addition, the Russell 2000 flashed a Day 5 Follow Through Day (FTD) on Tuesday and I discussed this in detail during the Tuesday Webinar. From here, we are certainly not out of the woods. I am definitely more positive about the markets than most right now, but I would still like to see the market prove itself. Specifically: 1) Sideways digestion/consolidation of the recent gains on light volume. 2) No heavy distribution days. 3) More growth stocks to set up. 4) Additional follow through in the Russell 2000. 5) The other major indexes (Nasdaq Composite and S&P 500) to flash FTDs. The latter indexes currently finished Day 3 on Wednesday Again, be patient, still use lighter positions, and give the market time to prove itself. However, I wouldn’t be too negative here when the majority are still very bearish. Good luck for the remainder of the week.

Unusual Option Activity:
10/5/22 Tesla (TSLA) buyer 800 March $230 puts $33.20 as the $300 puts adjust
10/5/22 Tesla (TSLA) also with opening seller 1500 April 250 puts for 48.35
10/5/22 Occidental (OXY) buyer 500 June $67.50 calls for $12
10/5/22 Hess (HES) with 1000 November $105/$145 strangles sold to open at $4.55
10/5/22 Relmada Therapeutics (RLMD) with 1500 February $55 calls sold to open $9.60 to $8.60
10/5/22 Apellis (APLS) with 1275 December $75/$50 bear risk reversals opening at $1.37 debits
10/5/22 Apple (AAPL) opening seller 80000 Oct. 28th (W) $150 calls 3.20
10/5/22 ON Semi (ON) buyer 450 February 80 puts for 10.10
10/5/22 Nvidia (NVDA) with 2450 January 2025 $125 puts being bought for around $7M today
10/5/22 Google (GOOGL) with 2000 January 2025 $165 calls bought $6.50
10/4/22 S&P 500 ETF (SPY) with 3800 March 336 puts selling to open 11.21
10/4/22 Nasdaq 100 ETF (QQQ) opening seller 6500 September 2023 $270 puts for $24
10/4/22 Amylyx (AMLX) more unusual bull put sales with 1000 January 2024 $35 sold to open for $12.40
10/4/22 Tesla (TSLA) with 1500 Nov 4th $230 puts bought for $13 after the Musk news hit
10/4/22 Merck (MRK) with 1000 Jan. 2024 $105 calls bought $4.20
10/4/22 Align (ALGN) opening sale 500 January 300 calls for 6.60
10/4/22 Cvent (CVT) very unusual buy of 5000 Feb $12.50 calls for $0.30 to $0.40 with shares at $5.70
10/4/22 Microsoft (MSFT) size buys of 2000 October $247.50 puts $6.95 offer into early Tech rally
10/4/22 Microsoft (MSFT) also with opening sellers in 3000 November 11th $280 calls at $1.89
10/4/22 Google (GOOGL) with 1000 June 2024 $93 deep ITM calls opening near $26
10/4/22 Z-Scaler (ZS) with 1600 January $125 puts being sold on 5.90 bids
10/3/22 Amylyx (AMLX) unusual opening seller 555 January 2024 $35 ITM puts for 12.80
10/3/22 Amylyx (AMLX) also with a buyer 2000 November $45 calls 0.33
10/3/22 Cheniere Energy (LNG) large opening sale 3000 June $200 calls for 13.60
10/3/22 Schlumberger (SLB) with 2250 May $50 calls bought $2.24
10/3/22 J&J (JNJ) with 600 April $145 calls sold to open $22.85
10/3/22 Apple (AAPL) buyer 10,000 January $135 calls $14.50
10/3/22 Apple (AAPL) also with 20000 Feb $135 calls selling to open now near $17 down to 16.25
10/3/22 Amazon (AMZN) with 1400 January 2025 deep ITM $80 calls opening for $7M
10/3/22 S&P 500 ETF (SPY) buyer 10,000 November $346 puts $7.72
10/3/22 Nasdaq 100 ETF (QQQ) with 4500 Oct. 28th (W) $285 calls bought today near $4.11 vs. the $300 calls