CNBC Interview from 12/30/22: https://www.youtube.com/watch?v=XrKgO9IMrRM

Topics covered:
1) 0:00 Announcements
2) 0:45 Market Commentary and Index Review (Nasdaq Composite, S&P 500, and Russell 2000)
3) 4:00 EDUCATION: Discussion on tight price action: INSP, ALNY, HALO, UTHR, TMDX, CELH
4) 8:20 Stock Review – Biotech: IBB (ETF), XBI (ETF), ACLX, AXSM, AKRO, PCVX, BTAI, AMLX, FDMT, PRTA, CINC, SRPT, PDSB
5) 14:50 Stock Review – Energy: OIH (ETF), XLE (ETF), XOP (ETF), HAL, SLB, TDW, XOM, APA, HES, HP, VAL
6) 17:50 Stock Review – Watch List/General Ideas/Commentary: MBLY, ACLS, PI, DECK, MODN, AYX, SPLK, BOX
7) 21:40 Conclusion/Summary

Market Summary:
The major indexes are still below their key moving averages, so the conclusion is the same to remain defensive and be patient. However, one positive development this week was the tight price action in the S&P 500, especially in its weekly closes. The index has closed around 3840-3850 over the past three weeks. As I remind everyone in this video, tight price action could be the sign of the sellers drying up and the institutions accumulating shares beneath the surface. Again, I said “could be.” The reason I’m taking this with a grain of salt is due to the light holiday volume over the past two weeks. Of course, I will be open-minded that this could be the bottom of a base for the S&P 500, but I prefer to let the market PROVE itself better before exposing more capital. I’m guessing we will get a clearer picture over the next two weeks when volume returns to the market.

In case you missed it, I posted a video discussing my 2023 Preview on the website. There’s an article below the video and some unusual option activity below that. As you know, I will be open-minded to many possibilities, but the weak technicals tell me that we’re likely to see more downside in the first quarter of 2023. The strongest stocks that I’m currently finding are in the Biotech and Energy sectors. If you are going to trade any ideas, I suggest keeping positions light until we see healthier conditions. My concern right now is that the weakness in the market will continue to weigh on stocks.

I would like to take a moment to wish everyone and their families a Happy New Year! Warmest wishes for a healthy and prosperous 2023. I sincerely appreciate everyone’s support throughout the year and I look forward to providing you the strongest content that I can in 2023. Thank you again and enjoy your long holiday weekend!

Unusual Option Activity:
12/30/22 S&P 500 Index (SPX) collar trade for JPM fund trades, selling 41,600 March 31st $4030 calls at $79.77 and buying same amount of the $3600/$3040 put spreads for $75.38, small net credit for the quarterly roll adjustment
12/30/22 S&P 500 ETF (SPY) with 7000 Feb. 3rd (W) $370 puts bought for $4M
12/30/22 Energy ETF (XLE) with 5000 August $90/$70 bull put spreads sold to open for $7.04
12/30/22 Crocs (CROX) buyer of 1500 Feb $110 calls at $10.80
12/30/22 Wynn Resorts (WYNN) buyer of 260 Jan 2025 $125 calls for $11.95
12/30/22 Apache (APA) buyer of 1600 July $60 calls at $2.98
12/30/22 ConocoPhillips (COP) opening seller of 900 Jan 2025 $85 puts for $10.05
12/30/22 Baker Hughes (BKR) size sweep buys comes in for 6000 February $31 calls $1.05 offer
12/30/22 Alteryx (AYX) buyer 1000 May $65 calls for $2.50
12/30/22 Splunk (SPLK) size buyer here 5000 August $135 calls $2.30
12/30/22 Splunk (SPLK) also buyer 545 May $95 calls at $7.85 offer
12/30/22 Nvidia (NVDA) buyer 2000 April $145 puts $17.75 offer in sweeps
12/30/22 Apple (AAPL) with 35,000 February $115 puts being bought up to $2.80
12/30/22 Google (GOOGL) seeing $1M each in April $85 and June $87 calls with buyers in early action
12/29/22 Dow Jones ETF (DIA) buyer 2000 February $325/$300 put spreads
12/29/22 Ark Innovation ETF (ARKK) seeing a block of 40,000 January 13th $33 calls sold to open at $0.65
12/29/22 Devon Energy (DVN) with 8000 Jan $64 calls sold to open today at $1.50 down to $1.40
12/29/22 Apache (APA) with 2000 July $45 puts sold to open for $6.45
12/29/22 Revance Therapeutics (RVNC) with a large buy of 10,000 July $22.50/$30 call spreads at $1.55
12/29/22 Cytokinetics (CYTK) seeing 500 May $50 calls bought for $9.00
12/29/22 TG Therapeutics (TGTX) seeing 3900 Jan $10 puts sell to open $1.15
12/29/22 Twilio (TWLO) buyer 1400 February 450 calls $5.10 to $5.15
12/29/22 Texas Instruments (TXN) with 2000 September $145 puts bought $8.84 as Febs adjust