Topics covered:
1) 0:00 Announcements
2) 0:15 Market Commentary and Index Review (Nasdaq Composite, S&P 500, and Russell 2000)
3) 5:15 FOCUS LIST: WING, HALO, CELH, PI
4) 8:25 Stock Review – Semiconductors: SMH (ETF), NVDA, KLAC, ACLS, AEHR, MBLY
5) 11:30 Stock Review – Biotech: IBB (ETF), XBI (ETF), AXSM, AMLX, RVNC, PCVX, RYTM, RCKT, SRPT, NBIX, ALNY
6) 15:45 Stock Review – Medical Products: HRMY, TMDX, PODD, DXCM, INSP
7) 17:45 Stock Review – Watch List/General Ideas/Commentary: BOX, AYX, SPLK, DECK, CALM
8) 20:30 Conclusion/Summary

Market Summary:
In this video, I start by reviewing the major indexes. They are below their respective 50-day and 200-day moving averages and the main takeaway is there’s no edge right now. When this happens and I don’t have strong conviction either way, I lean defensive. What helps me with my edge is deferring to the price action of growth stocks. Unfortunately, it’s the same theme of very few setups and strength continuing to get sold into. Why is all this happening? Because the Fed is raising rates and taking liquidity out of the system to fight inflation.

The conclusion is the same: Stay defensive and be patient. If you are going to trade anything, please keep your positions light. I prefer that members don’t trade right now because there’s very little to miss out on. I remain approximately 15% invested and I’m in no rush to increase exposure until market conditions improve. As always, I encourage members to come up with their own investment plan and make decisions based on their own timeframe and risk tolerance. Overall, I prefer members protect their capital and their confidence for when conditions improve in the future. Thank you and good luck for the remainder of the week.

Unusual Option Activity:
12/21/22 Russell 2000 ETF (IWM) with 50,000 Feb $167 puts bought this morning as Jan 164 adjust
12/21/22 Tesla (TSLA) opening sale 1000 May $140 puts for $23
12/21/22 Apache (APA) buyer of 1000 Feb $40 ITM calls at $7.85, also buyers of Feb $52.50 calls at $1.25
12/21/22 Inspire Medical (INSP) seeing some large deep ITM Jan calls adjust to Feb expiration
12/21/22 Sarepta (SRPT) with 1400 Jan $140 calls sold to open $2.50
12/21/22 Cincor Pharma (CINC) interesting flow today with 2500 August $15 short puts opening $4.70 to $4.80
12/21/22 United Parcel (UPS) opening sale 2000 February $155 puts for $2.53
12/21/22 Boeing (BA) buyer of 3000 March $220/$245 call spreads to open for $4.30
12/21/22 Apple (AAPL) seeing buyers of 2500 January 2024 $95 deep ITM calls at $49.00
12/21/22 Amazon (AMZN) block of 2500 June $77 puts bought $5.75
12/21/22 Ambarella (AMBA) with 3750 January $90 calls bought $2.60 to 43.10
12/21/22 Evolent Health (EVH) with unusual 1000 January 27.50 calls bought 1.15 to 1.55
12/20/22 S&P 500 ETF (SPY) buys 4000 June 2024 $460 calls $16.66 to $17.27 and sells 4000 of the $300 puts $13.16
12/20/22 Russell 2000 ETF (IWM) buyers of 15,000 February $165 puts $3.83 offer
12/20/22 Occidental (OXY) with 1500 May $65 calls sold to open 6.75
12/20/22 Devon (DVN) opening seller 1000 July $60 puts for $9.50
12/20/22 Bristol Myers (BMY) with buyers of 1500 Jan 2025 $75 calls at $9.65 to $10
12/20/22 Idexx Labs (IDXX) with 350 July $420 puts sold to open $48.80 in a large trade
12/20/22 Merck (MRK) opening seller of 4000 Jan $113 calls for $1.50
12/20/22 Alteryx (AYX) with 500 May 50 puts sold to open 7.25
12/20/22 Apple (AAPL) seeing 2800 deep ITM June 2024 $120 calls bought to open $32.30
12/20/22 Amazon (AMZN) 9850 January 2025 $85 calls open for $23.75, adjusting June 2024 $80 calls, $23M trade
12/19/22 Semiconductor ETF (SMH) buyer 1250 January $199 calls to open $15.55
12/19/22 Energy ETF (XLE) with 4000 February $81 puts bought $3.19 to $3.26
12/19/22 Nike (NKE) opening seller 500 September 2023 $85 puts for $5.60
12/19/22 Floor and Decor (FND) opening sale 750 April $75 puts $9.54
12/19/22 Range Resources (RRC) opening seller of 500 Jan 2024 $27 calls at $6.00
12/19/22 Conoco (COP) opening buy 4000 February $125 calls for $1.77
12/19/22 Bristol Myers (BMY) buyer 5000 February $77.5 calls for $0.85
12/19/22 Apple (AAPL) opening sellers 15,000 March $140 calls $7.55 to $7.40
12/19/22 Super Micro (SMCI) more bull flow with 1100 February $85 calls bought $6.20 to $6.40
12/19/22 Okta (OKTA) with 1200 January 2025 $70 calls bought for $23.95, long-term bull bet
12/19/22 Amylyx Pharma (AMLX) 320 Jan 2024 $45 deep ITM puts are sold to open for $15.75, often bullish sign in biotech names