Topics covered:
1) 0:00 Announcements
2) 0:15 Market Commentary and Index Review (Nasdaq Composite, S&P 500, and Russell 2000)
3) 6:00 FOCUS LIST: NVDA, MSFT, ADBE, CELH, LLY, NOW, UBER
4) 8:15 Stock Review – Software: IGV (ETF), ORCL, CRM, CDNS, SNPS, APP, QLYS, AYX, ESTC, VERX
5) 11:10 Stock Review – Energy: XLE (ETF), XOP (ETF), OIH (ETF), SLB, HAL, TDW, VLO, MPC
6) 12:35 Stock Review – Watch List/General Ideas/Commentary: SMH (ETF), ONTO, CLS, FN, CAMT, MOD, VRT
7) 15:00 Conclusion/Summary

Market Summary:
Over the past few weeks, I discussed to expect weakness during the second half of September and gave several reasons why the market would likely see a continued pullback. Unfortunately, the drop was mostly straight down over the past two weeks and many people got hit in the market. As I mentioned over the weekend, please keep your head up. We’re in this for the long run and there will be many times when the market will be weak and frustrate us. The key is to learn from these mistakes and make the proper adjustments to minimize them in the future. Remember to always protect your mental capital.

From here, we still need to be patient and let the market prove itself. On Wednesday, we saw a reversal off the lows on strong volume. It’s an early sign that the selling could be slowing down, but I want to see more signs of the big institutions coming back into the market with consistency. In addition, we need to see more stocks building strong bases and offering us safer entry points. Again, please keep things light until we see better signs of health. Hopefully, this seasonally weak period is closer to its end and we can anticipate some new money coming back into the market at the beginning of the new month and quarter. It will still require patience until we see this, but if the market DOES prove itself, there will be plenty of time to make money during the next powertrend. Thank you and good luck for the remainder of the week!

Unusual Option Activity:
9/27/23 Tesla (TSLA) seeing 1500 Oct. 27th (W) $250 calls bought $13.90 and captures its next report
9/27/23 Phillip Morris (PM) opening sale 10,000 Dec 82.50 puts for $1.05, seeing this in a few large cap Staples names lately
9/27/23 Dollar General (DG) with 400 January 2025 $85 puts sold to open for $8
9/27/23 Devon Energy (DVN) with buyers of 15,000 Oct $50 calls 0.97 to 1.01
9/27/23 Pioneer Natural (PXD) buyer 350 Dec. $235 calls 12.20 to 12.50
9/27/23 Blackstone (BX) opening sale 750 Oct. 2024 $85 puts for 5.60
9/27/23 Zimmer (ZBH) with 2000 November $100 puts sold to open $1.55
9/27/23 Pfizer (PFE) buyer 2000 January $32/$40 call spreads for $1.80
9/27/23 Pfizer (PFE) also 1500 May 28 puts sell to open 1.03
9/27/23 Bristol Myers (BMY) with 3200 March 50 puts selling to open for 0.93
9/27/23 Dexcom (DXCM) with 625 January 2025 $90 puts sold to open 15.38 as January 110 adjust
9/27/23 AstraZeneca (AZN) buyer 15,000 Oct 27th (W) $69 calls $1.55 adjusting out of Nov. 70 calls
9/27/23 Delta Air Lines (DAL) opening sale 5000 October $34 puts 0.50
9/27/23 Boeing (BA) opening sale 500 April 180 puts for $11.05
9/27/23 Google (GOOGL) buyer 1200 June $130 calls $15.90
9/27/23 Palo Alto (PANW) with 700 November $230 calls bought up to $14.50 offers
9/27/23 Amazon (AMZN) buyer 7000 Nov $125 calls $7.55 spread vs. the $135 calls sold $3.40 which are likely adjusting
9/27/23 Broadcom (AVGO) with 100 February $760 calls opening for near $1M as January $750 adjust
9/27/23 Applied Materials (AMAT) bull risk reversal buys 1000 March $170 calls and sells the $115 puts, net credit of $1.86
9/27/23 Nvidia (NVDA) size buyer 1000 Oct. 27th (W) $420 calls $24 to $24.30
9/26/23 Ultra S&P 500 ETF (UPRO) seeing 15,000 Jan $45 calls bought for $4M around $2.70
9/26/23 Utility ETF (XLU) buyer 10,000 November $64 calls for $1
9/26/23 Pinduoduo (PDD) opening sale 6000 Nov 3rd (W) $100 calls 3.55
9/26/23 Wynn Resorts (WYNN) with 1000 April $65 puts sell to open $1.71
9/26/23 DraftKings (DKNG) with 2000 Dec $20 ITM calls opening as Oct adjust
9/26/23 Airbnb (ABNB) opening sale 300 Sept 2024 $130 puts for $17.62
9/26/23 Schlumberger (SLB) opening sale 800 December $60 puts for $3.90
9/26/23 Conoco (COP) with 3900 Jan 2025 $85 calls bought $40.60 as June 80 adjust
9/26/23 Wells Fargo (WFC) opening sale 1000 Jan 2026 $40 puts for 5.47
9/26/23 American Express (AXP) opening sale 400 Jan 2026 $135 puts for $14
9/26/23 Merck (MRK) with 500 April $110 puts sold to open ITM for $7.90
9/26/23 Toll Brothers (TOL) with 2000 March $55 puts sold to open $1.40
9/26/23 Sigma Lithium (SGML) buyer 2500 Dec 40/50 call spreads for $1.60
9/26/23 Taiwan Semi (TSM) with 2725 Nov 3rd $77 puts sell to open $0.85
9/26/23 Super Micro (SMCI) buyer of 600 Nov $250 calls at $26.80 to $28.80
9/26/23 Apple (AAPL) seeing 1500 deep ITM December $115 calls open for $61
9/26/23 Apple (AAPL) also with opening sales 6000 Nov 3rd (W) 185 calls and 10,000 of the $190 calls
9/26/23 Datadog (DDOG) buyer 600 Nov 3 (W) $92 calls for $4.25, big opening put sale yesterday
9/26/23 TI (TXN) buyer 4000 June $195 calls for $3.42 follows a bunch of large put sales yesterday
9/26/23 TI (TXN) also 500 January 2025 $125 puts sold to open $6.05
9/26/23 Salesforce (CRM) trade opens 1200 November 220/185 bull risk reversals for $0.74
9/26/23 Meta (META) seeing buyers of 1300 Nov 3rd $335 calls at $5.80 to $6.40
9/25/23 Tesla (TSLA) buyer 1000 March $270 calls $25.43 to $25.60
9/25/23 TJX (TJX) buyer 1150 Oct. $89 calls 1.98 offer
9/25/23 Target (TGT) with 300 September $105 puts sold to open 10.10
9/25/23 Netflix (NFLX) sale to open 100 November $475 puts $90.70
9/25/23 Netflix (NFLX) also with 200 Dec 2025 $370 puts sold to open $66.85
9/25/23 Chipotle (CMG) large buy 100 January 2025 $1850 calls at $322
9/25/23 Mastercard (MA) large trade opens 1127 Nov $420/$360 bull risk reversals for $3.50 debit
9/25/23 Stericycle (SRCL) buyer 1200 November $45/$50 call spreads $1.95
9/25/23 Teradyne (TER) with 470 Jan. 2025 $105 ITM puts selling to open $17.40 bid
9/25/23 Apple (AAPL) opening seller 1000 December 2025 $180 puts for 22.90
9/25/23 Elastic (ESTC) seeing 425 November $80 calls with buyers
9/25/23 Z-Scaler (ZS) opening sale 300 February $130 puts for $8.85
9/25/23 Microsoft (MSFT) buyer 4200 Dec $355 calls $3.65 looks to be adjusting $375 strike
9/25/23 Palo Alto (PANW) massive opening sale 20,000 December 180 puts for 1.99
9/25/23 Oracle (ORCL) opening sale 1200 December 97.50 puts 2.01
9/25/23 Oracle (ORCL) also a massive opening sale 20,000 Dec $95 puts $1.45 similar to PANW
9/25/23 TI (TXN) another large Tech put sale with 10,000 Dec $140 puts sold to open 1.71