Topics covered:
1) 0:00 Announcements
2) 0:35 Market Commentary and Index Review (Nasdaq Composite, S&P 500, and Russell 2000)
3) 5:25 Stock Review – Watch List/General Ideas/Commentary: XBI (ETF), CINC, AMLX, RVNC, PLRX, SRPT, BIIB, NBIX, VRTX, SGML, WWE, CELH, SWAV, GH
4) 12:05 Stock Review – Energy: COP, XOM, DINO, CHRD, DVN, MPC, HES, FANG, XLE (ETF), XOP (ETF)
5) 14:55 Conclusion/Summary

Market Summary:
In last weekend’s video, I reviewed the current positives and negatives in the market. One of the biggest positives is how sentiment is very negative. That could be part of the reason we gapped up on Monday because nothing major happened over the weekend and the market tends to fool the majority. The market continued higher on Tuesday, but it was not a decisive accumulation day that I would call a follow through day (FTD). Nevertheless, it’s a step in the right direction that we continue to see some accumulation and the market has held last Thursday’s low so far. Another positive is that the S&P 500 is slightly above its 21-day exponential moving average (EMA), and the small and midcap indexes (IWM and MDY) have also regained that level.

From here, I still want to see the market prove itself. I’m noticing slight progress but I would still like to see a decisive FTD and the Nasdaq Composite to get above (and hopefully stay above) its 21-day EMA. I would also like to see more growth stocks building better bases. As I’ve mentioned in recent videos, the majority of stocks holding up well on my screens are coming from the Biotech and Energy sectors. I review many of these stocks in this video. The conclusion is to remain defensive, keep positions light, and be patient until the market proves itself better. If you have any questions, you can ask them during the next webinar which will be this Thursday, October 20th at 7PM EST.

Unusual Option Activity:
10/18/22 S&P 500 ETF (SPY) with 4000 Nov 14th (W) $360 puts opening for $3.2M
10/18/22 S&P 500 ETF (SPY) also with 15,000 Feb $360 puts opening at $18 as Dec. 352 adjust
10/18/22 Energy ETF (XLE) trade opens 10,000 Dec $79 puts $3.92 as Nov $76 adjust
10/18/22 Albemarle (ALB) with 1000 January $180 puts being sold $5.40 to $5.10
10/18/22 ON Semiconductor (ON) 1000 April 40 puts sell to open 2.25
10/18/22 Guardant Health (GH) spread buys 2000 Dec $55 calls and sells the April $60 calls at $1.20 credit
10/18/22 Russell 2000 ETF (IWM) with 75,000 Nov $169 puts opening for $3.78 with some $163 adjustments
10/18/22 Small Cap Bear 3X (TZA) active with Nov $39 calls 14,500X and Nov $40 calls 7550X this morning
10/18/22 Semiconductor ETF (SMH) opening sellers 2550 January 185 calls for 12.75
10/18/22 Occidental (OXY) opening sale 1000 Nov. 4th (W) 68 puts for 3.25
10/18/22 SM Energy (SM) unusual buyer 650 May $60 OTM calls $3.60 offer
10/18/22 Amazon (AMZN) large opening seller for 2000 January 2025 $130 ITM puts for $30.10 to $28.60
10/18/22 PTC Therapeutic (PTCT) opening sale 5000 January $55 calls for $3.40
10/18/22 MP Materials (MP) low Delta Nov and Dec $40 calls active with buyers 6500X and 3750X
10/18/22 Google (GOOGL) with 1400 September $69 puts sold to open for $2.70
10/18/22 Snowflake (SNOW) opening seller 350 June $195 ITM puts $49
10/18/22 Snowflake (SNOW) also 500 Dec $170 puts sold to open $19.53, and buyer 400 Dec. 2nd (W) $180 calls $17.80
10/18/22 Biogen (BIIB) 1465 November $250 puts sell to open 8.50 to 8.20
10/18/22 BioCryst (BCRX) buyer 2500 November $12 calls $2.34, adjusts Oct. 12 calls
10/18/22 Viking Therapeutics (VKTX) small cap Bio with unusual 2K Nov 5 calls bought
10/18/22 Microsoft (MSFT) with 4000 Nov. 11th (W) $240 puts opening $9.85
10/18/22 Microsoft (MSFT) also with large opening sale of 4000 April $220 puts at $13.50 bids
10/17/22 Biotech ETF (XBI) buyer 2650 December $79 calls $6.85 offer
10/17/22 Healthcare ETF (XLV) large buy 5000 June $125 calls $10.60
10/17/22 Alnylam Pharma (ALNY) buyers of 1000 Dec $170 ITM calls for $30.80 up to $31.75
10/17/22 Tesla (TSLA) seeing 980 February $265 calls bought $15.50
10/17/22 Netflix (NFLX) 500 Dec. 2nd (W) $230 puts sold to open today near $16.30 to $15.40
10/17/22 Hess (HES) opening sale 1000 November 115 puts 3.50 to 3.47
10/17/22 Valero (VLO) buyer 2350 November 125/140 call spreads for $2.95
10/17/22 Apple (AAPL) with 15,000 Nov. 25th (W) $141 calls selling to open 7.90 bid
10/17/22 Microsoft (MSFT) buyer of 1500 Nov. 11th (W) $240 puts for $11, earnings 10-25
10/17/22 Salesforce (CRM) opening sale 825 Dec. 2nd (W) $133 puts 4.50