Topics covered:
1) 0:00 Announcements
2) 0:40 QUICK REVIEW ON HOW TO NAVIGATE THROUGH THE WEBSITE
3) 2:25 Market Commentary and Index Review (Nasdaq Composite, S&P 500, and Russell 2000)
4) 11:40 FOCUS LIST: NVDA, MSFT, WING, RVNC
5) 16:00 Stock Review – Semiconductors: SMH (ETF), LSCC, ALGM, PI, AMD
6) 17:50 Stock Review – Software: PANW, TENB, FTNT, DUOL, ORCL
7) 20:20 Stock Review – Biotech: XBI (ETF), VKTX, TERN, ETNB, RCUS, KRYS, AXSM, PTCT, IMCR, ITCI, VRNA, AUPH, TGTX, CBAY, BBIO, APLS, ISEE
8) 24:45 Stock Review – Watch List/General Ideas/Commentary: ITB (ETF), ANET, SMCI, SGML, SWAV, PODD, DXCM, TMDX, CELH, ONON, TXRH, SQSP, ATLX
9) 31:00 Conclusion/Summary

Market Summary:
Over the past two weeks, I outlined the cup with handle consolidation on the Nasdaq Composite and discussed being open-minded to many possibilities. I wasn’t expecting a strong move to the upside because the market was still waiting for earnings from many big tech companies and waiting for clarity from the Fed. So far, the Mega Cap earnings have been solid, and the Fed did exactly what was expected today. They raised rates 0.25%, said they will wait for more inflation data, and they have not discussed rate cuts later this year. I honestly think this was the last hike of their current rate-hiking cycle, but the market won’t move consistently higher until they verbally announce they are pausing. This will likely occur in the next 1-2 months.

In the meantime, we are likely to remain in a range, but I am not expecting any significant downside. The market seems to have absorbed all the regional bank failures well so far, and sentiment gets VERY negative anytime we have 2-3 days of downside. I am going to do my best to use the 5 bullet point guidelines discussed over the past several videos. I am currently 60% invested and will continue to cut any losers while giving room for some of the stronger stocks to work. If you have any questions, you can ask them during the next webinar which will be this Saturday, May 6th at 11AM EST. Thank you and good luck for the remainder of the week.

Unusual Option Activity:
5/3/23 Nasdaq 100 ETF (QQQ) with 5000 May 12th next weeks $314/$327 strangles sold to open for $4.68, expects a range to continue
5/3/23 Regional Banks (KRE) with large opening seller of over 13,000 Sept $36 puts sold to open $2.14 bids aggressively
5/3/23 Biotech ETF (XBI) 10K May $85 calls bought $1.30 and 10K May $86 calls bought $1.19 as some $82 calls adjust
5/3/23 Homebuilders ETF (XHB) buyer 7000 September $64 puts for 2.22
5/3/23 Tesla (TSLA) buyers of 2000 May $162.50 calls at $7.35 offers
5/3/23 Arcus Biosciences (RCUS) with sweep buys over 1000 June $25 calls up to $0.80 offers
5/3/23 Apellis Pharma (APLS) with buyers of 365 May $95 calls here at $2.45 aggressive offers
5/3/23 Apple (AAPL) over 5000 Nov $205 calls sell to open $2.70
5/3/23 Arista Networks (ANET) seeing 700 September $150 calls bought $6.80
5/2/23 S&P 500 ETF (SPY) seeing some dip buying with 6150 Sept $434 calls bought for around $4.6M
5/2/23 S&P 500 ETF (SPY) also seeing 20,000 July $392 puts sell to open on bids into the late morning lows
5/2/23 Russell 2000 ETF (IWM) with 6000 October 170 puts selling to open 9.46 to 9.04
5/2/23 Hilton (HLT) aggressive buy 1480 July $155 calls $3.10 offer, strong results from Hotels
5/2/23 Marriott (MAR) with 1300 May $185 puts sell to open $9.70
5/2/23 Airbnb (ABNB) size put buying in October with 1300 of the $105 puts and 1100 of the $110 puts for over $2M
5/2/23 DraftKings (DKNG) buyer 1000 October $20 puts for $2.41
5/2/23 Valero (VLO) opening sale 400 Dec. 2025 $100 puts for 19.50
5/2/23 Arcus (RCUS) unusual buy 1000 June $25 calls $0.60 to $0.70, follows recent buys of 2700 July 20 calls
5/2/23 Eli Lilly (LLY) with 700 July $400 puts selling to open 16.30
5/2/23 Viking Therapeutics (VKTX) buyer 1000 July $26 calls $3.10
5/2/23 Viking Therapeutics (VKTX) also with 1200 November $10 calls opening for 12.60
5/2/23 Sigma Lithium (SGML) buyer of 1000 July $35 calls for $3.65
5/2/23 Alibaba (BABA) block of 6000 September $75 puts is sold to open $5.05
5/2/23 Salesforce (CRM) large buyer 1000 September $200 calls for $17.10
5/2/23 Meta (META) with 2000 August $250 calls bought $18.50
5/2/23 Meta (META) also opening seller of 1000 March 2024 $255 puts $38.75
5/1/23 Dow Jones ETF (DIA) buyer 3000 September $325/$275 put spreads
5/1/23 Regional Banks ETF (KRE) opening seller 3000 January 2025 $43 puts for 6.62
5/1/23 Chevron (CVX) opening seller 2250 July $155 puts for $3.16, also seeing sellers of 2000 Sept $165 puts near $9
5/1/23 Chevron (CVX) also with a buyer of 5000 September $175 calls for $6.50 to $6.60
5/1/23 Disney (DIS) size late day buyers 4000 October $115 calls $4 to $4.10
5/1/23 Madrigal Pharma (MDGL) with 400 July $210 puts sold to buy the $420 calls at net debit of $7.25, bull risk reversals
5/1/23 Iveric Bio (ISEE) 10K Sep $40 calls trade 0.50 to open, wonder if could find a competing bid
5/1/23 Iveric Bio (ISEE) another 3000 of those Sept $40 calls bought at $0.75, over 18k on the day now
5/1/23 Bluebird Bio (BLUE) seeing 2100 January $2.50 deep ITM calls bought at $2.45 offers
5/1/23 Ascendis Pharma (ASND) With 1000 July $70 puts sell to open $1.75
5/1/23 ImmunoGen (IMGN) seeing large buyers for 6000 June $5 calls at $1.80 to $1.85
5/1/23 Palo Alto (PANW) with 2550 September $155 puts selling to open $5.25
5/1/23 Google (GOOGL) opening sale 1000 March 2024 $115 calls for 10.70
5/1/23 Aehr Test Systems (AEHR) opening seller 900 December $20 puts $3.40 bid
5/1/23 Nvidia (NVDA) seeing sweep buys of 2000 June 2nd $325 calls for $4.10 to $4.40
5/1/23 Nvidia (NVDA) also with 1100 November $200 puts sold to open $8.15
5/1/23 Micron (MU) with 1050 October 62.50 calls bought 7.35
5/1/23 Adobe (ADBE) massive buy of 1700 October $415 calls to open $19.10 offer