Topics covered:
1) 0:00 Announcements
2) 0:20 Market Commentary and Index Review (Nasdaq Composite, S&P 500, and Russell 2000)
3) 8:20 Stock Review – Biotech: XBI (ETF), IBB (ETF), AMLX, AXSM, RVNC, CINC, ACLX, BTAI, VTYX, INSP, MEDP
4) 14:35 Stock Review – Energy: OIH (ETF), SLB, HAL, TDW, VAL, HES, URI
5) 16:45 Stock Review – Semiconductors: ACLS, KLAC, PI, AEHR, MBLY, LSCC
6) 19:30 Stock Review – Watch List/General Ideas/Commentary: AXON, CELH, MODN, AYX, SPLK, ESTC, EVH
7) 23:00 Conclusion/Summary

Market Summary:
As I’ve discussed in the past several videos, the price action of the major indexes is slowly improving. For the most part, the up days are occurring on strong volume and the down/sideways days are on lighter volume. In addition, most indexes are holding their 21-days. I would still like to see the S&P 500 regain its 200-day, but overall, I like the improvement and I dissect the price action in this video. Regarding growth stocks, the price action is also SLOWLY improving and this past week saw growth outperform value. I know it’s only one week, but it could be a subtle change where the market is pricing in lower interest rates down the road and rotating into risk on. Again, it’s very early but a step in the right direction.

I am approximately 45% invested. The reason I’m not getting more invested is that the Fed is still raising rates and maintaining a restrictive environment. I also mentioned that the 200-day on the S&P continues to be stubborn resistance. From here, I am open-minded to many possibilities including a range where stock picking will really stick out. In going through my screens, the stronger stocks are mostly coming from the Biotech, Medical Products, Energy, and Semiconductor sectors. As always, use that 21-day as your guide and work on getting stronger entry points. Thank you and enjoy the remainder of your weekend.

Unusual Option Activity:
1/20/23 Nasdaq 100 ETF (QQQ) with 10,500 April $275 puts sold to open for $10.29 as the Feb $280 short puts adjust out
1/20/23 Software ETF (IGV) with 2000 Feb. $270 calls opening today as January $260 adjust
1/20/23 Tesla (TSLA) large buy of 9733 June 2025 $90 ITM calls at $69.17, adjusting the Jan 2025 $85 calls higher.
1/20/23 Las Vegas Sands (LVS) spread buys 1500 Feb 3rd (W)$56 calls and sells 2500 of the $60 calls
1/20/23 Schlumberger (SLB) after earnings seeing 7453 March $55 puts sold for $2.10 to buy the $60/$65 call spreads at $1.60
1/20/23 Diamondback Energy (FANG) buyer 300 June $155 calls for 10.80
1/20/23 Visa (V) buyer of 4500 March $250 calls at $0.82, earnings next week
1/20/23 InMode (INMD) buyer 2000 February $30 calls for $4.70 as January calls adjust
1/20/23 Amgen (AMGN) large opening sale 500 January 2024 $265 puts for $24.60
1/20/23 Apple (AAPL) April $125 puts being sold to open 20,000X at 3.85
1/20/23 Workday (WDAY) with 1300 Feb 10th $170 calls being bought here for $6.30
1/20/23 Snowflake (SNOW) seeing 2000 Feb 24th $150/$125 bullish risk reversals open for $2.30 debits
1/20/23 Elastic (ESTC) size buyer of 2000 March $55 calls $4.10 to $4.20
1/20/23 Elastic (ESTC) also into the close with 1000 March $55 calls bought $5.60
1/20/23 Splunk (SPLK) another Software name with call buying as 1200 March $90 are bought $7.15 offers
1/20/23 Revance Therapeutics (RVNC) seeing a block of 3000 Feb $30 puts sold to open at $1.65 bids aggressively
1/20/23 Aurinia Pharma (AUPH) 1300 April 12 calls bought 0.90 to 0.98 in unusual action
1/19/23 China ETF (FXI) with 30,000 June $33 calls bought $1.94 to $2
1/19/23 Industrials ETF (XLI) opening sale 20,200 March $94 puts 1.49
1/19/23 ON Holding (ONON) 3500 July $27.5 calls are bought $1.05
1/19/23 Disney (DIS) with 5000 April $110 calls bought $2.51 to 42.53 as March adjust out a month
1/19/23 Array Technologies (ARRY) buyer 400 January 2024 $22.50 calls $6.50
1/19/23 Devon Energy (DVN) buyer 350 January 2025 $65 calls for $13.10
1/19/23 Biogen (BIIB) with 400 June $285 puts sold to open $23.85 to $24.10
1/19/23 United Health (UNH) large buy 3000 April $520 calls $10.35 to $10.40
1/19/23 Microsoft (MSFT) size buyers early 4000 Feb. 3rd (W) $232.50 calls $8.85 offer, earnings 1-24
1/19/23 Alphabet (GOOGL) 1800 January 2024 96 calls sell to open for 12.31
1/19/23 Nasdaq 100 ETF (QQQ) large opening sale 30,000 March 3rd (W) $250 puts for $2.10
1/19/23 Nasdaq 100 ETF (QQQ) also with a bull risk reversal that sold 25,000 June $200 puts for $1.69 and bought 20,000 of the $275 calls for $19.90 as March positions adjusted