Topics covered:
1) 0:00 Announcements
2) 0:40 Market Commentary and Index Review (Nasdaq Composite, S&P 500, and Russell 2000)
3) 5:10 Stock Review – Energy: XLE (ETF), XOP (ETF), OIH (ETF), SLB, CVI, APA, DK, VLO, DINO, HP
4) 9:20 Stock Review – Biotech/Medical Products: XBI (ETF), IBB (ETF), AMLX, PRTA, INBX, AXSM, RVNC, TMDX, HALO, MEDP, DXCM, HRMY, PODD, PRCT
5) 15:00 Stock Review – Lithium Related: ALB, LTHM, SGML
6) 16:45 Stock Review – Semiconductors: SMH (ETF), AEHR, PI, ACLS, GFS, ON
7) 19:15 Stock Review – Watch List/General Ideas/Commentary: BIIB, ADM, STLD, CELH
8) 20:40 Conclusion/Summary

Market Summary:
Two weeks ago, the market surged off a better-than-expected CPI (inflation) report. Since then, the biggest positive is how the major indexes have consolidated those gains well. This past week saw the markets give back very little on lighter volume than the previous week. Two current negatives include the uninspiring price action in growth stocks and the hawkish Fed. Regarding stocks, I am noticing more stalling action (stocks being sold into strength) rather than stocks breaking out. I show many examples in this video. This isn’t necessarily a big negative, I would just rather see more breakouts than stocks making little progress.

Regarding the Fed, let’s not forget that they are still raising rates and need to see more consistent proof that inflation is coming down. Fed Chair Powell speaks on November 30th and I will be curious to see if he continues with his hawkish tone (as he did in late August and again in early November) or if his language is more dovish. My conclusion is to keep positions light until the market and especially growth stocks prove themselves a little better. Please keep in mind that when there’s a mixed picture, I will lean defensive to protect members. Your decisions should depend on many factors such as timeframe, risk tolerance, and your overall investment objectives. I am currently 30% invested in a mix of index/sector ETFs and some light positions in individual stocks. If the market continues to show improvement, I will increase my investment levels. If this rally is for real, we will see conditions improve over the next 1-3 weeks. Thank you and enjoy the remainder of your weekend.

Unusual Option Activity:
11/18/22 S&P 500 ETF (SPY) buyers active in January $376 puts early for 12,000X worth $9M
11/18/22 Tesla (TSLA) buyers in Dec $180 calls 9000X between $11.89 to $14.91 range, some large lots adjusting Nov calls
11/18/22 Nike (NKE) with 1150 February $100 puts sold to open $5.65
11/18/22 Nike (NKE) also seeing buyers in January $105 calls today 2000X into late December earnings
11/18/22 Marathon Oil (MRO) with 3200 June $30 puts sold to open $4.10 to $4.05
11/18/22 Visa (V) opening sellers 1900 January 2024 $150 puts near $5.40
11/18/22 Humana (HUM) seeing 858 Feb $580 calls sell to open $10.80
11/18/22 Apple (AAPL) size early buyer 22,000 June $135 puts $8.08
11/18/22 ON Semi (ON) buyer of 2200 April $100 calls for $2.30
11/18/22 Amazon (AMZN) opening sale 1200 Sep. 2023 $63 puts for 2.95
11/18/22 Advanced Micro Devices (AMD) seeing 3000 February $70 puts bought $6.30
11/17/22 Albemarle (ALB) with 3500 March $250 puts selling to open $18.50
11/17/22 Walmart (WMT) buyer 1000 February $155 calls $3.60 to $3.70
11/17/22 Amazon (AMZN) buyers active 3500 Dec. 9th (W) $100 calls $2.33
11/17/22 ON Semi (ON) Dec 60 puts sold to open 1000X at 1.03
11/17/22 Celsius Holdings (CELH) opening sale 1500 June $120 calls 15.20
11/17/22 Exxon (XOM) opening sale 1000 Dec. 23rd (W) $112 puts for 4.75
11/17/22 Schlumberger (SLB) opening sale 14,700 January $60 calls for 1.26
11/17/22 Halliburton (HAL) similar to SLB with 20,700 January $42 calls sold to open 1.23
11/17/22 United Health (UNH) with 5000 Jan $560 calls sold to open 7.05
11/17/22 Microsoft (MSFT) with 8000 Feb $270 calls selling to open $5.65
11/17/22 LAM Research (LRCX) buyer 420 Jan $515 calls $15.65
11/17/22 Palo Alto (PANW) trade opens 1000 Jan $180/$145 bull risk reversals for a credit of $3.30