Topics covered:
1) 0:00 Announcements
2) 0:15 Market Commentary and Index Review (Nasdaq Composite, S&P 500, and Russell 2000)
3) 6:10 FOCUS LIST: NVDA, MSFT, NOW, UBER, LLY, NVO, VRTX, WING, PANW, CRWD
4) 10:10 Stock Review – Software: IGV (ETF), CDNS, ADBE, CRM, WDAY, ESTC
5) 11:40 Stock Review – Semiconductors: SMH (ETF), AMD, AVGO, MRVL
6) 13:00 Stock Review – Biotech: XBI (ETF), ACAD, MGNX, VKTX, MRUS, AXSM
7) 14:35 Stock Review – Watch List/General Ideas/Commentary: META, SMCI, VRT, CLS, FN, CAMT, ISRG, CELH, SNAP
8) 18:15 Conclusion/Summary

Market Summary:
As I’ve mentioned in many recent videos, I’m bullish over the next 6-12 months because of all the technical strength we saw from November through January. Does that mean we will go straight up with no pullbacks? Of course not! That’s why I’ve also discussed the theme of “using the 21-day EMA as your guide.” Today is a perfect example of that. The market had a normal, end-of-the-month profit taking pullback to the 21-day, and I view this as normal price action. Some might say it was triggered by Fed Chair Powell’s comments today that they will not cut rates at their next meeting in March, but my view is the market used his remarks as an excuse to take profits. I’m not overly concerned because: 1) It’s only one distribution day in the past two weeks. 2) Many of the leaders are acting well and still holding above their 21-days (I review many of them in this video). 3) I don’t live in fear over every downtick in the market.

From here, I assume members fall into one of two categories: 1) You’re fairly invested in the markets and hopefully you have strong entry points on your positions, so you can deal with pullbacks like we had today. 2) You lighted up into strength earlier this month and you are looking to put money back to work. If you fall into this latter category, then you can start to nibble on stocks/ETFs that are near their 21-days. My best advice is to FOCUS on the best stocks/ETFs and stick to the true market leaders. If actively managing your portfolio is too much for you, then a few suggestions would be to use ETFs (sector and/or index ETFs), use lighter position sizes and give them more room, reduce the number of stocks you own so you don’t have to follow too many positions. Thank you and good luck for the remainder of the week.

Unusual Option Activity:
1/31/24 S&P 500 ETF (SPY) hedgers buying 27,000 April $465 puts for $3.97 as $467 puts adjust
1/31/24 Retail ETF (XRT) buyer 5000 June $65/$58 put spreads
1/31/24 Academy Sports (ASO) buyers of 1650 February $63 calls for $440K
1/31/24 Starbucks (SBUX) 2000 April $90 calls opening $6.45
1/31/24 Occidental (OXY) opening sales of 1800 July $55 puts at $2.37 bids
1/31/24 Goldman Sachs (GS) buy 1000 May $430 calls for $4.65
1/31/24 Goldman Sachs (GS) also 1550 June $410 calls bought up to $15.10
1/31/24 Blackstone (BX) opening sale 600 June 2025 $120 puts $14.10
1/31/24 CymaBay Therapeutics (CBAY) with 3375 March $25 calls bought $1.77 as February calls sell
1/31/24 Eli Lilly (LLY) buyers of 350 May $680 calls at $29.70 to $35.95
1/31/24 Bristol Myers (BMY) opening seller 1800 March $48 puts 1.11
1/31/24 Cardinal Health (CAH) buyer 500 January 2025 $110 calls 11.10 to 11.30
1/31/24 Snap (SNAP) buyer 1180 August $22 calls $1.55
1/31/24 Snap (SNAP) also 1050 August $21 calls bought $1.77
1/31/24 Apple (AAPL) trade opens 5500 Dec 2025 $180/$215 bear call spreads
1/31/24 Netflix (NFLX) buyer in next week $560 calls 1500X $13+
1/31/24 Synopsys (SNPS) buyer 500 December $640 calls for $32.40
1/31/24 Marvell Tech (MRVL) buyer of 2000 April $77.50 calls at $2.71
1/31/24 Adobe (ADBE) seeing 1300 Feb $640/$605 bull risk reversals open at $4.15 credits
1/31/24 Amazon (AMZN) trade sells to open 2000 Dec $150 puts at $12.61 ahead of earnings tomorrow night
1/31/24 Google (GOOG) seeing dip buyers of 2000 March 1st $140 calls at $6.30 offers
1/31/24 Nvidia (NVDA) buyer 2000 May 600/670 call spreads in a large trade
1/30/24 Russell 2000 ETF (IWM) large buy of 9975 March 28th (Q) $210 calls at $2.75
1/30/24 Russell 2000 ETF (IWM) also a large trade sells to open 6000 Dec 2026 $145 puts at $7.23, over $5.7M
1/30/24 Software ETF (IGV) seeing 1500 Feb $435 calls sell to close $5.90
1/30/24 Healthcare ETF (XLV) with over 4000 March 1st $141 calls buy for $2.32 offers
1/30/24 Nike (NKE) with 1000 January 2026 $97.50 puts bought for $10.30
1/30/24 Chipotle (CMG) size buy 100 January 2026 $3400 calls for $134.25
1/30/24 Airbnb (ABNB) interesting spread in July selling 370 of the $135 puts to buy the $160/$180 call spreads
1/30/24 Shopify (SHOP) ITM July $55 calls opening 700X up to $30.20, $2M position
1/30/24 Occidental (OXY) large opening sales of 1000 July $60 puts at $4.45 to $4.30
1/30/24 Occidental (OXY) buyers 1000 June 52.50 calls ITM $8.20
1/30/24 Bristol Myers (BMY) size opening sales 3000 September $50 puts for $3.85
1/30/24 MoonLake (MLTX) 2K Feb $65 calls adjust to March $65 that open $5.94, while 1250 of the Feb $50 puts sell to open $1.70
1/30/24 Super Micro (SMCI) massive buyer of 2000 June $450 ITM calls at $121 up to $127.50, over $26M
1/30/24 Super Micro (SMCI) buyer of 550 Jan. 2026 $500 calls at $200, $11M
1/30/24 Nvidia (NVDA) buyers of 3000 May $750 calls for $19.00 to $19.75 in large lots
1/30/24 Nvidia (NVDA) large opening sale 2000 Dec 2025 $550 puts $80.75 adjusting the $500 puts
1/30/24 Nvidia (NVDA) with 1300 June $665 calls bought for over $7M
1/30/24 Amazon (AMZN) with 2400 July $150 calls bought $21.45 offer
1/30/24 Amazon (AMZN) also 10,000 December $125 puts sell to open $4.50
1/30/24 Oracle (ORCL) buyer 10K March 140/150 call spreads for 0.17
1/30/24 Taiwan Semi (TSM) 2600 April $115 calls sell to open 7.70
1/30/24 Arm Holdings (ARM) anther 4350 Jan 2026 $75 calls bought for over $10M as massive Jan 2026 calls keep accumulating
1/30/24 Palo Alto (PANW) opening sale 4000 September 2025 $140 puts for 3.25
1/30/24 Zscaler (ZS) with 1000 April $240/$150 bull put spreads sell to open at $29.85
1/29/24 Energy ETF (XLE) buyer of 2500 September $92/$80 strangles for $6.66, looking for higher volatility
1/29/24 Roblox (RBLX) 2000 January 2025 $52.50 calls sell to open 5.10 to 5.05
1/29/24 Sony (SONY) with 700 July $110/$100 bull risk reversals open at $4.75 credit
1/29/24 Ulta Beauty (ULTA) buyers of over 4k weekly Feb 2nd $510 calls at $1.30 to $1.60
1/29/24 Elf Beauty (ELF) buyers of 3300 weekly Feb 2nd $157.50/$160 call spreads at $0.77
1/29/24 Airbnb (ABNB) 1370 July 180 calls sold to open for 6.70
1/29/24 Uber (UBER) 2200 April $72.50 calls buy at $2.84 as the Feb $60 calls adjust, earnings next week
1/29/24 Valero (VLO) 1300 June $150 calls sell to open 5.15 to 5.05
1/29/24 Coinbase (COIN) buyer 1050 June $180 calls $9.75 to $10.30
1/29/24 Wells Fargo (WFC) buyer 1500 March 2025 $52.5 calls for $4.74
1/29/24 Tradeweb (TW) large buyers of 1700 July $90 ITM calls at $14 to $14.10
1/29/24 Eli Lilly (LLY) buyer 200 July $600 calls ITM for $1.7M
1/29/24 United Parcel (UPS) buyer 1500 January 2025 $115 puts $3 into earnings
1/29/24 Micron (MU) buyers for 2500 March $105 calls at $0.51 offers
1/29/24 Meta (META) 3200 December 2025 $425 calls selling to open $25.6M premium
1/29/24 Nvidia (NVDA) 1200 March $770 calls bought $4.40
1/29/24 Snap (SNAP) buyer 5000 January 2025 $22/$32 call spreads
1/29/24 Amazon (AMZN) buyers of 1000 May $140 ITM calls at $25.15, adjusts Feb $135 calls ahead of earnings
1/29/24 Amazon (AMZN) buyers 3500 Feb $167.5/$177.5 call spreads into earnings
1/29/24 Amazon (AMZN) with 2000 Sept $180 puts sold to open $25.32 and 3K of the $130 puts bought $4.05
1/29/24 Qualcomm (QCOM) massive opening seller of 10,000 January 2025 $115 puts at $4.80 ahead of earnings this week
1/29/24 Apple (AAPL) massive opening sale of 5600 December 2025 $215 calls at $19.70 bids
1/29/24 Salesforce (CRM) buyer 1100 April $310 calls $7.33 to $7.60
1/29/24 UltraPro QQQ ETF (TQQQ) buyers of 4000 Feb $57 puts at $3.10 offer sweeps, implies bearish Nasdaq short term but could also be hedge for earnings this week in Tech