Topics covered:
1) 0:00 Announcements
2) 0:15 Market Commentary and Index Review (Nasdaq Composite, S&P 500, and Russell 2000)
3) 7:25 Strategies around Follow Through Days
4) 15:30 FOCUS LIST: NVDA, MSFT, ADBE, NOW, LLY, NVO, VRTX, UBER, DELL
5) 20:55 Stock Review – Software: IGV (ETF), SNPS, CDNS, PANW, CRWD, QLYS, ZS, AYX, VERX, DUOL, MANH
6) 24:50 Stock Review – Semiconductors: SMH (ETF), AVGO, KLAC, LRCX, AMD
7) 26:10 Stock Review – Watch List/General Ideas/Commentary: META, VRT, CLS, FN, JBL, CAMT, ANET, WING, DECK, LULU, PCAR, SPOT, PDD, DKNG, TW, CELH
8) 31:50 Stocks Near Buyable Ranges: LLY, NVO, CLS, VRT, PDD
9) 33:10 Conclusion/Summary

Market Summary:
Two weeks ago was a pivotal week for the market because the markets interpreted that the Fed was done raising rates, and the big institutions came back into the markets. We saw this via TWO follow through days for the Nasdaq Composite (on 11/1 and 11/2). In addition, we saw a rare Zweig Breadth Thrust completed that week, as both the Nasdaq Composite and S&P 500 regained their respective 50-day moving averages. That week, I mentioned that my instincts told me we’ve bottomed for the year and this would be a “buy the dip” market into year-end.

Coming into this past week, I was expecting a lower-volume consolidation, but the Nasdaq Composite surged higher for the week on strong volume. This is the market showing us its strength, and also how many people are underinvested. This led to many emails from members expressing their frustration with not being able to get back into this market. I take some time in this video (starting at the 7:25 mark) to discuss strategies around FTDs. Also, please don’t beat yourself up! Keep in mind that if you were heavy cash during the second half of October, you might have missed some of the recent upside, but you also missed a great deal of the downside. As always, make sure to protect your confidence.

From here, the market is a little extended but there are still many stocks near buyable ranges. How do you reconcile this? It depends on your risk tolerance and also how invested you are. If you are conservative, then pass on new ideas. If you are underinvested and willing to take on some risk, then you can use smaller positions (a quarter or half of what you would normally buy). Again, the main goal of this product is to encourage you to make decisions and to help you build your confidence. Sometimes, the market moves fast, so don’t beat yourself up and keep a journal so you can make improvements in the future. Thank you and enjoy the rest of your weekend. This week’s MidWeek Video will be posted on Tuesday, November 14 by 8PM EST.

Unusual Option Activity:
11/10/23 S&P 500 ETF (SPY) large early buyers of 3200 March $419 ITM calls at $30 to $30.60, nearly $10M
11/10/23 Nasdaq 100 ETF (QQQ) large trade buys 5000 Jan $371 calls at $15.54 to $17.50, adjusting some Dec 29th $368 calls
11/10/23 Russell 2000 ETF (IWM) seeing 25k Dec 29th (Q) $165 puts sell to open at $3.09, adjusting Dec 15th short puts
11/10/23 Semiconductors ETF (SMH) seeing 7200 Dec $165 calls buying at $1.34 to $1.52, adjusting some Nov $152.50 calls higher
11/10/23 Domino Pizza (DPZ) with 200 January 2025 $320 puts sold to open 20.60
11/10/23 Occidental (OXY) massive opening sale for 4000 June $62.50 puts at $6.10, adjusts Nov $65 short puts
11/10/23 Occidental (OXY) also 2850 April $75 OTM calls with buyers
11/10/23 Zillow (Z) opening sales for 2600 May $26 puts at $0.89 down to $0.87
11/10/23 JP Morgan (JPM) massive opening sale for 3000 Jan 2026 $145 puts at $15.90, adjusts the Jan 2025 $130 short puts
11/10/23 J&J (JNJ) with 1250 April $150 calls bought to open $6.25
11/10/23 Vertiv (VRT) buyer 1500 Dec 1st (W) $41 calls for 2.15
11/10/23 Palantir (PLTR) with 1770 June 18 puts selling to open down to 2.75
11/10/23 Meta (META) seeing 1100 Dec. 22nd (W) $340 calls sold to open 5.85
11/10/23 Advanced Micro (AMD) buyer 1000 September $160 calls $8.20 offer
11/10/23 Broadcom (AVGO) sale to open 200 January $940 puts $58
11/10/23 Nvidia (NVDA) with 1400 Dec. 1st (W) $540 calls bought to open
11/10/23 Taiwan Semi (TSM) buyers 1500 March 110 calls up to $2.20 from $2.10
11/10/23 Taiwan Semi (TSM) also seeing 1200 May $85 puts sell to open at $3.06
11/10/23 Rambus (RMBS) 1500 OTM low Delta January $70 calls bought $1.50 to $1.65
11/10/23 Google (GOOG) with 1000 June 2025 $210 calls bought at $3.85 to $4
11/9/23 Energy ETF (XLE) sale to open 1600 January 2026 $70 puts $6
11/9/23 Russell 2000 ETF (IWM) with 4000 Dec 29th (Q) $175 calls being bought at $3.04 offers, over $1M
11/9/23 Nike (NKE) buyer of 2500 Dec $110 calls at $2.02, adjusts Nov calls
11/9/23 Home Depot (HD) with 550 September 2024 $240 puts sold to open $7.70
11/9/23 Netflix (NFLX) with 600 Jan 2026 $890 max strike and timeframe calls bought $18.85 to $19.20
11/9/23 Occidental (OXY) 7000x March $72.5 calls bought $0.99 to $1.03, also 1500 April $75 calls bought
11/9/23 AstraZeneca (AZN) with 1500 Dec 29th $63 puts sell to open at $1.07 bids
11/9/23 Vertiv (VRT) buyer of 1685 July $50 calls $4.90 to $5
11/9/23 Nvidia (NVDA) with 1000 Dec. 1 (W) $525 calls bought $8.95 to $9.25
11/9/23 Nvidia (NVDA) 1000 Dec. 8th (W) $470 puts sell to open 22.40, adjusting Dec. 450 short puts
11/9/23 Applovin (APP) sweep buyers for 1200 Jan $40 calls at $5.40 offers
11/8/23 Vertiv (VRT) trade adjusts January call spreads to buy 5000 March $40/$50 call spreads at $3.47
11/8/23 Vertiv (VRT) 1250 January $45/$55 call spreads also bought to open
Vertiv (VRT) has a lot of open interest including 10,000 December $50 short calls