Topics covered:
1) 0:00 Announcements
2) 0:25 Market Commentary and Index Review (Nasdaq Composite, S&P 500, and Russell 2000)
3) 6:20 FOCUS LIST: SMH (ETF), NVDA, PANW, WING, RVNC
4) 9:00 Stock Review – Semiconductors: AMD, ACLS, ALGM, PI, LSCC
5) 11:30 Stock Review – Software: MSFT, FTNT, TENB, DUOL, CDNS, ALTR, ANSS, AI
6) 15:15 Stock Review – Biotech: XBI (ETF), VKTX, TERN, ETNB, RCUS, KRYS, AXSM, PTCT, IMCR, ITCI, VRNA, AUPH, TGTX, AMPH, CBAY, BBIO, APLS, ISEE, ACLX
7) 20:30 Stock Review – Housing: ITB (ETF), XHB (ETF), DHI, MTH, PHM, MHO, TMHC, KBH, LEN, TOL, GRBK
8) 22:20 Stock Review – Watch List/General Ideas/Commentary: SGML, ANET, PODD, DXCM, SWAV, TMDX, LNTH, DECK, ONON, FOUR, INOD, TXRH, ASO
9) 26:30 Stocks near buyable ranges: NVDA, ANET, RVNC
10) 27:10 Conclusion/Summary

Market Summary:
Overall, I thought this past week was a healthy one. The market consolidated in a tight range and many of the stocks on our watchlist performed very well. Coming into this past week, I discussed the consolidation forming on the Nasdaq Composite. I still think we resolve out of this range to the upside, but the market might be waiting for clarity from the Fed (their next meeting is Wednesday, May 3rd) and clarity on earnings, as many of the large cap tech names report soon. I encourage members to be open-minded that we might bounce off the 21-day soon, we might consolidate until we get more clarity, or we might have a shakeout down to the 50-day. Either way, I still think we resolve to the upside and I don’t see any significant downside over the near-term.

Regarding this past week, I didn’t do much trading and most of my moves were very light. I’m comfortable with the strong entries I have on my stocks and I’m trying to be patient and let them work for me. I continue to encourage members to use the five guidelines outlined in recent videos: 1) Trade strong stocks. 2) Get strong entry points. 3) Use lighter positions. 4) Keep some cash (in case we have a shakeout). 5) Manage risk and manage your trades. The last one is very important because it will help to build your confidence. If you have trouble making decisions, try starting with smaller positions to help build that decision-making muscle. Also, remember that one way to adapt to this rangebound market is to use lighter positions and learn to be patient. The webinar we did on Saturday morning is now posted in the Webinar Videos section of the website. I will notify you as soon as I figure out the date and time for the next live webinar. Thank you and enjoy the remainder of your weekend.

Unusual Option Activity:
4/21/23 S&P 500 ETF (SPY) with 5725 August $395 ITM calls opening this morning $17.5M
4/21/23 Emerging Markets ETF (EEM) with a large opening sale of 10,000 June 2024 $36 puts for $1.88
4/21/23 Gold ETF (GLD) buyer today for 3000 August $187/$195 call spreads at $2.75
4/21/23 Regional Banks ETF (KRE) with over 12,000 Sept $41 puts bought for $2.70, adjusting June $49 puts
4/21/23 Tesla (TSLA) block of 1500 September 170 calls sold to open 20.46
4/21/23 Tesla (TSLA) also buyer 1000 August $160 puts in a block $16.94
4/21/23 Elf Beauty (ELF) with 1200 June $95 puts sold to open $6.60
4/21/23 Wingstop (WING) large buyer of 1500 May $190 calls at $12.50 offers, adjusting the 1k April $175 calls
4/21/23 Range Resources (RRC) large trade opens 10,000 May $28/$24 bull risk reversals at a 5 cent credit, reports 4-24
4/21/23 Visa (V) 500 January $230 puts sold for $13.80
4/21/23 Iveric Bio (ISEE) with 3200 May $33 calls opening as April $28 adjust
4/21/23 Iveric Bio (ISEE) buyers of 2100 June $37 calls at $1.05, adjusting some May $30 calls
4/21/23 Vaxcyte (PCVX) seeing 1000 July $40 puts sold to open at $1.90
4/21/23 Sigma Lithium (SGML) with a large buy of 3000 October $40/$50 call spreads at $2.85
4/21/23 Amazon (AMZN) buyer 4000 May 12th (W) $108 calls $3.77 adjusting the $102 calls
4/21/23 Nvidia (NVDA) buyer 2600 January $460 far OTM calls for $5.10
4/21/23 Taiwan Semi (TSM) with 2000 June 2024 $95 calls bought for $9.31
4/21/23 Google (GOOG) with a large buyer of 3529 May $85 ITM calls for $21.20 midday, reports next week
4/21/23 Micron (MU) opening sales of 3200 November $42.50 puts at $1.30
4/20/23 Nasdaq 100 ETF (QQQ) with another one of those large put sales today as 12,600 Sept $320 puts sold to open 16.69
4/20/23 Energy ETF (XLE) spread sold 4000 Sep. 29th (Q) $95 calls to buy the $84/$75 put spreads
4/20/23 Home Construction ETF (ITB) buyer 3000 June $78 calls $1.50 offer
4/20/23 Enovix (ENVX) trading another 5000 October 15/10 bull risk reversals
4/20/23 TG Therapeutics (TGTX) buyer of 1000 June 2nd $20 calls at $3.60, adjusts May calls
4/20/23 Iveric Bio (ISEE) 1000 May $26 puts sold to buy the $30 calls for bull risk reversals at $0.65 net debits
4/20/23 Apellis Pharma (APLS) with 1100 May 80 puts selling to open 4.20 to 4.15, recent reports of M&A interest
4/20/23 Microsoft (MSFT) spreads 3000X selling July $260 puts and buying the $300/$330 call spreads
4/20/23 Oracle (ORCL) aggressive sweep buys of 300 July $87.50 ITM calls at $10.55 to $10.60
4/20/23 ASML (ASML) buyer 250 January $680 calls for $60.50
4/20/23 Arista Networks (ANET) sale to open 350 June 2024 $130 puts for 12.58