Q3 statistics in a year with a strong January: https://twitter.com/WayneWhaley1136/status/1680198967181672449
August Statistics: https://twitter.com/WayneWhaley1136/status/1682613673318129665

Topics covered:
1) 0:00 Announcements
2) 0:30 Market Commentary and Index Review (Nasdaq Composite, S&P 500, and Russell 2000)
3) 6:20 FOCUS LIST: NVDA, MSFT, ORCL, CDNS, ISRG, CELH, LLY, NOW, TSLA, UBER
4) 11:30 Stock Review – Software: IGV (ETF), ADBE, CRM, SNPS, CDNS, MDB, PANW
5) 13:40 Stock Review – Semiconductors: SMH (ETF), AVGO, LRCX, MRVL, AMAT, KLAC
6) 14:30 Stock Review – Watch List/General Ideas/Commentary: EXTR, KRYS, ABOS, ONON, DECK, DKNG, ITB (ETF), BZH, PHM, DHI, MTH, NFLX, RXST, QTRX, SLB, SMCI, URGN, CLS
7) 21:20 Conclusion/Summary

Market Summary:
As I mentioned in recent videos, we’re in the process of a normal pullback to the 50-day moving average. We’re almost there on the Nasdaq Composite, but I want to be patient for 3 reasons: 1) I still want to see if the S&P 500 corrects down to its 50-day. 2) While screening, I noticed there aren’t too many strong entry points or proper setups. 3) August is traditionally a volatile and choppy month, so let’s wait until we get through it.

I reiterate some recent points in this video: 1) The pullback will not be straight down. It will likely be choppy and without any sustained upside progress. 2) Stick to strong stocks, get strong entries, and manage your trades based on your timeframe. The only suggestion is to use lighter than normal positions for new buys because of the expected volatility over the near-term. In other words, I don’t want members to get frustrated. Protect your mental capital for when the uptrend resumes. 3) I will be open-minded and take this day-by-day. If you are a shorter-term trader, it’s not a bad idea to take some time off, as the end of August and into the Labor Day holiday will likely be slow. 4) After this week, the news will shift from fundamentals to garbage. This could lead to more volatility. 5) Don’t overcomplicate things. This is just a normal pullback so far and a needed consolidation.

Just a reminder, today’s video is in place of Wednesday’s MidWeek Video this week. Good luck for the remainder of the week and I will see you on Saturday for the Weekend Video.

Unusual Option Activity:
8/8/23 Russell 2000 ETF (IWM) large buyer of 66,000 Sept $183 puts for $2.04, adjusts the $185 puts down
8/8/23 Homebuilders ETF (XHB) buyers of 3500 September $82 puts at $1.66 to $1.68
8/8/23 Biotech ETF (IBB) with 3000 December $119 puts bought at $2.70 offers
8/8/23 Ultra Nasdaq ETF (TQQQ) buyer 4000 Sep. 8th (W) $39 calls $3.55 to $3.80
8/8/23 Nike (NKE) with 5000 August 25th (W) $108 puts selling to open near $2.45
8/8/23 Nike (NKE) also 300 Sept 2024 $105 puts sold to open 9.70, and 600 March $120 calls buying $5.40 offer
8/8/23 Netflix (NFLX) large opening sale of 600 June 2024 $400 puts $38.40 to $37.95
8/8/23 Sweetgreen (SG) opening seller 2250 September $14 puts 0.85
8/8/23 Schlumberger (SLB) opening seller 1250 February $70 calls 1.91
8/8/23 JP Morgan (JPM) opening sale 1500 November $155 puts ITM $7.31
8/8/23 Bristol-Myers (BMY) with 3000 Oct $57.50 puts sell to open at $1.13
8/8/23 Acadia Pharma (ACAD) late day opening sales 4000 December $25 puts 1.30 to 1.25
8/8/23 Palo Alto (PANW) with 1000 Aug. 25th (W) $200 puts opening $5.80 to $6.35 capturing 8/18 earnings
8/8/23 DataDog (DDOG) into 20% decline with a seller of 800 January 2025 $60 puts to open $7.30
8/8/23 Datadog (DDOG) also seeing opening sales for 4600 Sept $70 puts at $0.70
8/8/23 Snowflake (SNOW) 4000 December $150 puts sell to open $16.75 to $16.35
8/8/23 Fortinet (FTNT) with 900 June 2024 $45 puts selling to open 2.45
8/8/23 Nvidia (NVDA) with 4000 October $600 OTM calls being bought 7.20 to 7.40
8/8/23 Micron (MU) large opening sale 4000 June 2024 $72.5 ITM puts for 10.86
8/7/23 Ark Innovation ETF (ARKK) large buyer of 40,000 December $40 puts for $2.09
8/7/23 Bonds ETF (TLT) big lots bought 25,000 November $97 calls
8/7/23 Tesla (TSLA) with 1500 Sept 2024 $170 puts sold to open 14.40 to 14.15
8/7/23 Tesla (TSLA) also seeing buyers 2450 Aug 25th (W) $250 calls and sellers in Sept 8th (W) $270 calls 3450X
8/7/23 Toyota (TM) sale to open 1000 January $185 calls for 5.10
8/7/23 Royal Caribbean (RCL) seller to open 400 December $105 puts 8.65
8/7/23 DraftKings (DKNG) buyers 2200 September $32 calls $1.73+
8/7/23 Chipotle Mexican Grill (CMG) buyer 100 June 2024 $2500 calls for $46
8/7/23 First Solar (FSLR) with 2000 Sept $230 calls sell to open for $2.18 down to $2.08
8/7/23 ExxonMobil (XOM) large buyer of 1500 January 2025 $110 calls at $12.30, adjusting $125 calls
8/7/23 Immunogen (IMGN) opening seller 1000 October $15 puts $1.30
8/7/23 AstraZeneca (AZN) with 2500 Nov $72.50 calls bought $2.075 as Oct and Sept adjust
8/7/23 3M (MMM) opening sale 525 January 2025 $90 puts for $5.40
8/7/23 Apple (AAPL) 900 Dec. 2025 $125 puts sell to open 6.40
8/7/23 Fortinet (FTNT) opening sale 500 January 2025 $50 puts $6
8/7/23 Meta (META) buyer 10,500 January $400 calls $8.45 as 5250 of the $320 adjust
8/7/23 Extreme Networks (EXTR) with 1200 Dec $30 puts sold to open $3.24, adjusting $25 short puts
8/7/23 Unity Software (U) block of 1200 November $42 calls sells to open 4.45
8/7/23 Advanced Micro (AMD) large opening buy 2000 March $110 puts $11.19
8/7/23 MongoDB (MDB) buyer 250 December $290 puts for $64.60
8/7/23 Google (GOOGL) with 2500 June 2024 $140/$102.5 bull put spreads opening for $12.63 credit
8/7/23 Amazon (AMZN) with 2000 January $142.50 ITM puts selling to open $11.70