Topics covered:
1) 0:00 Announcements
2) 0:50 Market Commentary and Index Review (Nasdaq Composite, S&P 500, and Russell 2000)
3) 7:40 FOCUS LIST: NVDA, MSFT, ORCL, WING, RVNC
4) 10:10 Stock Review – Semiconductors: SMH (ETF), AMD, AVGO, ASML, LRCX, ACLS
5) 12:00 Stock Review – Software: IGV (ETF), CRM, PANW, FTNT, DT, NOW, AI, DUOL
6) 14:15 Stock Review – Biotech: XBI (ETF), AXSM, MDGL, VKTX, TERN, ETNB, RCUS, KRYS, PRTA, BTAI, ITCI, PTCT, TGTX, VRNA, APLS, INZY, ABOS
7) 19:10 Stock Review – Watch List/General Ideas/Commentary: SWAV, CELH, INSP, SMCI, TXRH, INOD, ITB (ETF)
8) 22:00 Stocks near buyable ranges: SWAV, BTAI, PRTA, SGML, WING
9) 23:10 Conclusion/Summary

Market Summary:
Coming into this week, I discussed how the Nasdaq Composite could see a pullback because 1) the week after regular cycle options expiration tends to trend to the downside and 2) the index was a little extended from its 21-day EMA. I did say that extended can get more extended, but when it comes to the indexes, sector ETFs, and mega cap stocks, they ALWAYS eventually come back down to their 21-days, even when they are in strong trends. That’s why I reiterate in this video the importance of getting strong entry points and using the 21-day as your guide. So far this week, I view the pullback in the Nasdaq as a normal pullback on below average volume. This reiterates the message I sent in my Market Note over the weekend, which is to shut out the noise and focus on price. The index continues to act well and many of the leading stocks are holding logical support levels.

Regarding the S&P 500, many people are calling it a “breakout failure” at 4200. I don’t view it that way. Overall, the index has been in a range for over a year, and as long as it’s above its 10-week, I’m not going to stress too much about it. Also, I am more focused on my stocks than the index. Again, stay focused on the strongest stocks and sector ETFs right now. We could be at the beginning of a new power trend for the Nasdaq Composite and I want members to lean more positive than all the negative garbage that the news is focused on. As soon as I figure out the date for the next webinar, I will let you know. Again, stay mentally tough and good luck for the remainder of this week!

Unusual Option Activity:
5/24/23 Tesla (TSLA) opening sale 1500 June 23rd (W) $185 puts for 11.25
5/24/23 Nike (NKE) seeing size buyers 4000 July $115 calls today $3.15 to $3.25
5/24/23 Netflix (NFLX) 2500 June 9th (W) 400 way OTM calls bought this morning 1.09+
5/24/23 Netflix (NFLX) also seeing buyer flow 1445 each in June 9th (W) $365 and $370 calls for $2.7M combined
5/24/23 Devon Energy (DVN) with 2000 January $40/$45 call spreads bought for $3.25
5/24/23 Baker Hughes (BKR) 8100 July $31/$26 bull risk reversals open for $0.20
5/24/23 Amgen (AMGN) buyer 500 January $225 calls $16.70 to $16.95
5/24/23 Amazon (AMZN) aggressive buys early 2300 October $105 calls $17.70 to $18 offers
5/24/23 Amazon (AMZN) also 3000 August $95 calls bought for $7.5M as June 85 adjust
5/24/23 Dell (DELL) buyer 1100 next week $46 calls $1.45 offer sweep for earnings 6-1
5/24/23 Microsoft (MSFT) with 1000 December $310 puts sold to open $20.10
5/24/23 Meta (META) with 3500 August $190 calls bought for $22M as June $185 adjust
5/24/23 Meta (META) buyer 2000 August $260 calls 14.74
5/24/23 Applied (AMAT) opening seller 500 June 2024 $82.50 puts 4.25
5/24/23 Snowflake (SNOW) opening sale 300 June 2024 $175 puts for 34.80 into earnings
5/24/23 DynaTrace (DT) large seller to open 900 January $50 at-the-money puts for $5.90
5/24/23 Nvidia (NVDA) opening sale 1500 August 225 puts 3.80
5/24/23 Service-Now (NOW) opening sale 600 July $420 puts $4.10
5/24/23 Super Micro (SMCI) seeing 1950 Dec 90 puts sell to open 4.70 where 1800 sold to open previously
5/23/23 Russell 2000 ETF (IWM) opening sale 2000 November $180 puts $9.50
5/23/23 Energy ETF (XLE) opening seller of 1800 January 2025 $68 puts $6.06
5/23/23 Ark Innovation ETF (ARKK) 6500 July $40 puts bought midday near $2
5/23/23 Pepsi (PEP) opening sale 1000 August 170 puts for 1.73
5/23/23 Tesla (TSLA) June 30th (W) $195 calls some sizer lots buying today 3000X $10.30 to $11.30 range
5/23/23 On Holding (ONON) afternoon buyer 1200 September $30 calls 2.05 offer
5/23/23 Home Depot (HD) buyer of 1000 August $320 calls for $4.95
5/23/23 Las Vegas Sands (LVS) buyer of 3000 August $60 calls at $3.05
5/23/23 Las Vegas Sands (LVS) also opening seller 700 December $50 puts $3.50
5/23/23 Exxon (XOM) seeing buyers 2000 Oct $105 calls $9.30 to $9.45 where 2000 bought in OI previously
5/23/23 Ultragenyx Pharm (RARE) buyer of 600 August $55 calls bought for $4.75 to $5
5/23/23 DexCom (DXCM) with 1000 January $97.50 puts sold to open 6.20
5/23/23 Advanced Micro (AMD) with 1500 August 110 puts sold to open 9.35
5/23/23 Palantir (PLTR) seeing over 6000 November $12 puts sold to open $1.63
5/23/23 Amazon (AMZN) buyer of 75,000 June $95 calls from 2/1 purchase adjusts to 96,000 Sept $95 calls for $25.20
5/23/23 Microsoft (MSFT) buyer 25,000 Sept $300 calls for $32 as June $215 roll up and out
5/23/23 Dynatrace (DT) with 1800 August $55 calls bought $2 to $2.05
5/23/23 Meta (META) large trade opens 2000 Jan 2025 $350/$200 bull risk reversals for $2 debit
5/22/23 Tesla (TSLA) buyers in Dec $325 far OTM calls 6000X at $2.73 offers up to $2.92
5/22/23 Lululemon (LULU) seller to open 200 December $290 puts $11.75
5/22/23 MGM Resorts (MGM) large buyer of 5600 September $35 calls $9 as June $35 adjust
5/22/23 Wynn Resorts (WYNN) buyer 22,900 September $90 calls $23.65 as June $90 adjust, much like MGM trade
5/22/23 Las Vegas Sands (LVS) with 76,000 Sept $45 calls bought $16.70 as June $45 adjust 35,000X
5/22/23 Las Vegas Sands (LVS) also an opening seller of 600 January 2025 $70 ITM puts for $15.25
5/22/23 Exxon (XOM) with 4000 August $120 calls sold to open $1.27
5/22/23 Conoco (COP) buyer 1000 July $100 puts $3.95 offer
5/22/23 Shift4 Payments (FOUR) 2000 July $80 calls bought $1.25 to $1.40, recovering from short hit piece
5/22/23 Blackstone (BX) buyers 3000 June 9th (W) $89 calls $0.97
5/22/23 J&J (JNJ) buyer of 3300 September $170 OTM calls for $1.35
5/22/23 Eli Lilly (LLY) with 350 January $440 puts sold to open down to $30.20
5/22/23 Pfizer (PFE) buyer of 1000 July $35 ITM calls at $3.30
5/22/23 IonQ (IONQ) seeing July 12.50 calls active w/ 2K bought
5/22/23 Innodata (INOD) unusual 1600 June $7.50 calls bought ITM $2.35 to $2.60
5/22/23 Microsoft (MSFT) buyer of 3900 January $410 calls at $3.30
5/22/23 Advanced Micro (AMD) seeing a buyer of 1300 June 2024 $170 calls at $5.65
5/22/23 Meta (META) large opening sale of 5500 June 2025 $230 puts at $36.10, adjusting the June 2024 $230 short puts
5/22/23 Amazon (AMZN) buyer 1800 more October $105 calls $17.50 to $17.94
5/22/23 Texas Instruments (TXN) with 10,000 July $160 puts sold to open 2.53
5/22/23 Nvidia (NVDA) with 5000 June 2024 $250 puts selling to open for $13M premium
5/22/23 Palantir (PLTR) buyer 10,000 August $12 calls $1.40 as June adjust
5/22/23 Oil Services ETF (OIH) bear flow continues with 2800 October $230 puts opening up to $13.40
5/22/23 Nasdaq 100 ETF (QQQ) June $339 calls with buyer flow trading 12,000X for around $7M premium
5/22/23 Nasdaq 100 ETF (QQQ) also 2500 July $336 puts being sold to open near 8.30 and buyer of 1000 Nov $340 puts to open $17.81