Link for IBD Live Trial: https://get.investors.com/ibd-live/?src=A00616
CNBC Interview from 12/30/22: https://www.youtube.com/watch?v=XrKgO9IMrRM

Topics covered:
1) 0:00 Announcements
2) 0:55 Market Commentary and Index Review (Nasdaq Composite, S&P 500, and Russell 2000)
3) 8:20 Stock Review – Biotech: XBI (ETF), IBB (ETF), ACLX, AKRO, AXSM, AMLX, CLDX, BTAI
4) 11:30 Stock Review – Energy: OIH (ETF), SLB, HAL, TDW, APA
5) 13:00 Stock Review – Watch List/General Ideas/Commentary: INSP, ALNY, HALO, TMDX, CELH, WING, SWAV, SMCI, MBLY, BOX, SPLK, AYX
6) 17:30 Conclusion/Summary

Market Summary:
The major indexes remain below their key moving averages. So far this week, the S&P 500 met resistance at its 21-day moving average and the index is in a range approximately between 3800-3900. Also, we had a distribution day on Tuesday and an accumulation day on Wednesday. When there’s a mixed picture like this, I like to default to the price action of growth stocks and that continues to be uninspiring. I remain defensive because there are no setups and most of the stocks that are holding up well continue to see any strength being sold into. One observation that I discuss in this video is the continued outperformance of Value (IVE) vs. Growth (IVW) in the S&P 500. It’s a positive if you are looking for some stocks acting well, but a negative from a risk-off perspective.

Today, in the latest Fed minutes, they reiterated their hawkish tone in their efforts to fight inflation. I’m still expecting the market to move lower in Q1 due to this restrictive environment created by the Fed. For my timeframe and style, this is not a healthy market. I’m mostly looking for a sustained uptrend to trade growth stocks for a few weeks to a few months. Therefore, I remain in a very heavy cash position. As always, do what works for you and your overall investment objectives, but either way, defense and smaller positions is best until market conditions improve. Thank you and good luck for the remainder of the week.

Unusual Option Activity:
1/4/23 Oil Services ETF (OIH) with 5175 June $265 puts opening $22.90 as January $250 sell
1/4/23 Wynn Resorts (WYNN) opening seller of 1000 Jan 2024 $125 calls at $8.31
1/4/23 Las Vegas Sands (LVS) opening sale 1000 June $47 puts for $4
1/4/23 Devon Energy (DVN) with 5800 July $70 calls sold to open at $3.31, adjusts the $90 short calls
1/4/23 Schlumberger (SLB) trade puts on 4310 February $55/$45 bull risk reversals for $0.47
1/4/23 Enphase (ENPH) opening sale 1000 January 2024 $175 puts $23.55
1/4/23 Merck (MRK) opening seller 500 January 2024 $120 puts $13.80
1/4/23 Visa (V) buyer 1000 March $215 calls $9.89
1/4/23 Procept Biorobotics (PRCT) buyer of 2000 Feb $35/$25 put spreads at $2.00, adjusting Jan put spreads lower
1/4/23 Apple (AAPL) seeing 15,000 Feb 3rd $130 calls sold to open for $4.75 to $4.45, captures earnings 1/26
1/4/23 Microsoft (MSFT) with 1000 January 2025 $190 puts bought $19.20
1/4/23 Nvidia (NVDA) seeing 600 June 2025 $120 deep ITM calls bought for $63.85, adjusting Jan 2025 calls, long term bull
1/4/23 Texas Instrument (TXN) buyer of 1200 September $150 puts for $9.54
1/4/23 Texas Instruments (TXN) also seeing 1100 March $160 puts bought $5.80
1/4/23 Enovix (ENVX) crushed today but seeing buyers of 4000 January 2025 $30 calls $1.25 to $1.40 with stock at $7
1/4/23 Tesla (TSLA) stock replacement sells 1000 Sept $90 puts to open for $14, the 90 level really feels like the level traders showing comfort to be long.
1/3/23 S&P 500 ETF (SPY) with size trading in February $368, $363 and $353 puts for around $65M
1/3/23 Nasdaq 100 ETF (QQQ) opening seller 3500 June 30th (Q) $260 puts for $17.53, buyers 4000 March $293 calls for $3.17
1/3/23 Tesla (TSLA) with 500 September $135 puts bought $37.90
1/3/23 Tesla (TSLA) also seeing 800 July $120 calls sold to open for $22.50
1/3/23 Tesla (TSLA) also seeing 2000 Feb 3rd $90/$120 bull risk reversals open for $1.65 debit
1/3/23 Disney (DIS) with 5000 January $84 puts sold to open on $1.11 bids
1/3/23 Apache (APA) buyer 350 April $35 calls $12.40 offer
1/3/23 Eli Lilly (LLY) with 1330 next weeks Jan 13th $352.50 puts sold to open for $2.93
1/3/23 Salesforce (CRM) massive opening seller of 15,000 March $150 ITM puts for $19.20
1/3/23 Mobileye (MBLY) seeing 2200 January $35 calls sold to open down to 2.20
1/3/23 Axsome (AXSM) buyer 200 June $90 calls $12.25
1/3/23 Apple (AAPL) with 20,000 January $124 calls sold to open 5.15 to 5, a common trend the last few weeks and a bearish signal