Statistics on June OpEx and the week after OpEx: https://twitter.com/ukarlewitz/status/1667597980835397632

Topics covered:
1) 0:00 Announcements
2) 0:15 Market Commentary and Index Review (Nasdaq Composite, S&P 500, and Russell 2000)
3) 3:35 Quick discussion on AI and some stocks with tight weekly closes
4) 12:25 FOCUS LIST: NVDA, MSFT, ORCL, WING, RVNC
5) 15:15 Stock Review – Semiconductors: SMH (ETF), AMD, AVGO, ASML, LRCX, ACLS, MRVL
6) 16:50 Stock Review – Software: IGV (ETF), CRM, PANW, FTNT, NOW, DT, AI, DUOL, CDNS, ALTR
7) 20:00 Stock Review – Biotech: XBI (ETF), AXSM, MDGL, VKTX, TERN, ETNB, BMEA, RCUS, KRYS, APLS, VRNA, PRTA, TGTX, INZY, ABOS
8) 24:15 Stock Review – Watch List/General Ideas/Commentary: CELH, SWAV, INSP, TMDX, ISRG, LLY, RXST, CCJ, ANET, SGML, DXCM, INOD, SDGR, ITB (ETF)
9) 28:30 Conclusion/Summary

Market Summary:
Continue to stick with the two concepts I’ve discussed in recent videos: 1) Use the 21-day EMA as your guide and 2) Manage your positions based on your timeframe and investment objectives. Also, keep in mind the market can correct through price or time. For example, this past week, the Nasdaq Composite and S&P 500 corrected sideways through time. While this happened, other parts of the market continued to show great improvement as the small caps (IWM), mid caps (MDY), and equal weight S&P 500 (RSP) all outperformed the broader market this past week. That’s a positive sign because one of the biggest negatives over the past several weeks has been their lack of participation. This negative is slowly turning into a positive as the overall technicals continue to improve.

Heading into this week, the week of June OpEx tends to trend to the upside, however, the week after usually sees weakness (see link above for statistics). So, how do we handle this? Refer to point number two: Manage your positions! In other words, there is no right or wrong answer. It all depends on your timeframe, how much you’re invested, and your overall risk tolerance. For me, I am approximately 80% invested, and if this is a strong week, I will look to reduce exposure. For others, this style might not work for them, which is why I always encourage you to make your own decisions. I will also do my best to stick with the strongest names. If this uptrend is to continue into year-end (with normal pullbacks along the way of course), the market has clearly shown us its leadership and I want to continue to stay focused on that. In other words, I’m not planning on taking LeBron James out of the game. Enjoy the remainder of your weekend and good luck trading this week!

Unusual Option Activity:
6/9/23 Nasdaq 100 ETF (QQQ) buyer of 3000 Dec 2024 $425 calls for $17.52, adjusting the June 2024 $355
6/9/23 Nasdaq 100 ETF (QQQ) also seeing 5000 June 2024 $405 calls bought aggressive at $15.10 offers, over $7.5M
6/9/23 Ark Innovation WTF (ARKK) seeing 4895 Sept $43 calls bought $3.65, adjusting the $39 calls higher
6/9/23 Home Depot (HD) sale of 1100 June $295 puts for $2.34
6/9/23 Shopify (SHOP) with 10,000 OTM July 70 calls being bought offers
6/9/23 Netflix (NFLX) seeing buyers 1500 August $480 calls $11.90 offer
6/9/23 Domino’s Pizza (DPZ) opening seller of 580 July 28th $265 puts for $3.60, captures earnings 7/20
6/9/23 Sigma Lithium (SGML) with a block of 4000 October $25 puts sell to open for $0.40
6/9/23 ImmunoGen (IMGN) 4000 October $18 calls are bought 2.80 to open
6/9/23 ImmunoGen (IMGN) also opening sales of 2600 July $16 puts for $0.90
6/9/23 Oracle (ORCL) again with sweep buys active for 1200 December $140 calls at $0.93 to $0.97
6/9/23 Advanced Micro (AMD) with 2225 Dec 2025 $200 calls opening for $4.8M as June 2025 $160 and $180 adjust
6/9/23 Nvidia (NVDA) August $315 puts selling to open 2000X today near $3.55
6/9/23 Nvidia (NVDA) trade closes June $300 calls and opens Sept $430/$350 bull risk reversals 5810X3,485
6/9/23 Apple (AAPL) put sellers again today with 5000 Nov $180 at $8.85 and 5000 Dec $180 puts at $9.55
6/9/23 Broadcom (AVGO) buyer 1250 September $1000 calls at $7.50 offer
6/9/23 Salesforce (CRM) seeing buyers of 3000 July $230 calls for $3.50 to $4.20
6/9/23 Shopify (SHOP) with buyers of 1200 Sept $65 calls at $5.70
6/8/23 ON Holding (ONON) buyer 600 January 2025 $27.50 calls $8.90 to $9
6/8/23 Tesla (TSLA) another 5000 March $375 calls bought $11.70 offer today where size opened yesterday
6/8/23 Tesla (TSLA) buyers active for 7500 July $255 calls as well
6/8/23 Tesla (TSLA) also buyers of 1250 March $230 calls for $43.25 up to $47
6/8/23 Micron (MU) early size buyer 1600 June 30th (W) $65 calls for $3.50, reports 6-28
6/8/23 Micron (MU) also 4000 June 30th (W) $60 puts sell to open 0.95
6/8/23 Apple (AAPL) opening sale of 2000 March $175 puts for $11.00 bids
6/8/23 Apple (AAPL) also with 2000 March $180 puts sold to open at $12.45.
6/8/23 CrowdStrike (CRWD) buyer 500 OTM December $210 calls $4.30 offer
6/8/23 Advanced Micro (AMD) also large lots buying 4500 June 30th $128 calls at $3.25
6/8/23 Advanced Micro (AMD) 12,000 August $125 puts sell to open $12.40 to $12.20
6/8/23 Amazon (AMZN) buyers of 1600 December $170 calls at $1.35 offers
6/8/23 Oracle (ORCL) with 1100 August $92.5 ITM calls bought $16.40
6/8/23 Oracle (ORCL) with late day buys of 1900 Dec $120 calls at $4.05 offers, reports next week
6/8/23 Adobe (ADBE) buyer of 1000 June 30th (W) $480 calls for $4.75, reports next week
6/8/23 Broadcom (AVGO) trade sold 1000 July $700 puts and bought 1000 Aug $1000 calls, net $0.80 credit
6/8/23 Google (GOOG) with 7500 July $125 calls bought $3.46 as 4K June 115 adjust
6/8/23 Russell 2000 ETF (IWM) seeing 3000 Jan. 2025 $190/$230 call spreads bought
6/8/23 Energy ETF (XLE) opening sale 2500 June 2024 $82 puts for $8
6/8/23 Oil ETF (USO) opening sale 4050 January $58 puts for 4.20
6/8/23 Uranium ETF (URNM) seeing unusual 2850 Oct. $40 calls bought $1.05 and 1175 Dec. $450 calls bought $1.70, good sign for CCJ