Topics covered:
1) 0:00 Announcements
2) 0:35 Market Commentary and Index Review (Nasdaq Composite, S&P 500, and Russell 2000)
3) 5:00 FOCUS LIST: NVDA, MSFT, NOW, UBER, LLY, NVO, WING, PANW, CRWD
4) 9:10 Stock Review – Software: IGV (ETF), CDNS, ADBE, CRM, WDAY, ESTC, ZS
5) 11:00 Stock Review – Semiconductors: SMH (ETF), AVGO, LRCX, KLAC, AMD, MRVL
6) 13:35 Stock Review – Biotech: XBI (ETF), ACAD, MGNX, VKTX, MRUS, AXSM
7) 17:10 Stock Review – Watch List/General Ideas/Commentary: VRTX, META, NFLX, SMCI, VRT, CLS, FN, TMDX, RXST, ISRG, CAMT, SNAP
8) 23:10 Conclusion/Summary
Market Summary:
Here are the concepts I’ve discussed in many recent videos: 1) I am bullish over the next 6-12 months because of all the technical strength we saw from November through January. Why did the institutions aggressively get back into the market during that time? My guess is the new bull market powered by AI, the anticipation of the Fed lowering rates this year, and/or something bigger that we won’t comprehend until later. My point is “who cares” just focus on the technical strength and stop worrying about the “why?” 2) 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.” 3) Stay focused on the best growth stocks/ETFs out there. 4) Get strong entry points and manage your trades based on your timeframe and overall investment plan. If you don’t have a plan, please continue to finetune it and work on one that fits your situation. 5) Manage risk and stick to your stops. Just because it’s a bull market doesn’t mean everything is going to work out.
Overall, the major indexes are strong but we could see some backing and filling this week. Shorter-term, the rebound on Thursday and Friday last week occurred on lighter and lighter volume, so we could see a minor pullback this week. Also, the week prior to OpEx tends to see a Thursday low into the week of regular cycle OpEx. Again, if this type of short-term tactical information doesn’t work for your style, then get strong entry points and deal with normal pullbacks along the way. If you have any questions, you can ask them during the next webinar which will be this Monday, February 5th at 7PM EST. Thank you and have a great weekend.
Unusual Option Activity:
2/2/24 UltraPro S&P 500 ETF (UPRO) large, rare buy in the ETF for 1499 January $50 ITM calls at $16.20
2/2/24 Russell 2000 ETF (IWM) massive buyer of 30,000 April $210 calls at $2.31 as Feb $200 calls adjust
2/2/24 Energy ETF (XLE) buyer of 2500 May $86 calls at $3.10 to $3.15 offers
2/2/24 Tesla (TSLA) seeing 750 March 2025 $250/$180 bull risk reversals open at $10.50 credit
2/2/24 Costco (COST) buyer 1000 April $800 calls $3.15
2/2/24 Chevron (CVX) seeing 2100 April $145 puts sell for $3.25 to $3.15
2/2/24 Eli Lilly (LLY) opening seller 200 Jan 2026 $660 puts for $1.68M premium, also buyers 350 May $670 calls for $1.6M
2/2/24 Merck (MRK) sale to open 1000 April 125 puts 2.79
2/2/24 Vertiv (VRT) buyers 2000 March $62.5/$75 call spreads
2/2/24 Meta (META) large sale to open 2750 April 420 puts 8.81
2/2/24 Meta (META) size opening sale 750 June 2026 $480 puts $82.50
2/2/24 Meta (META) also a large buyer for 5000 June 2026 $390 calls at $159.77, adjusting the Dec 2025 $370 calls for big gains, over $80M in new trade
2/2/24 Nvidia (NVDA) buyers 2500 March 1st (W) $700 calls $15.75 to $16.25 in size lots
2/2/24 Nvidia (NVDA) 1975 March 1st (W) $570 puts selling to open $6.50
2/2/24 Nvidia (NVDA) massive opening sale of 2000 December 2026 $570 puts at $102.57, adjusting the Dec 2205 $550 short puts for over $23M in premium raised and long term confidence being long at 570
2/2/24 Apple (AAPL) big buyer into early lows 2000 March 22nd (W) $180 calls $6.84 to $6.95
2/2/24 Microsoft (MSFT) buyer 2140 Dec. 2026 $500 calls for $50.99
2/2/24 Microsoft (MSFT) seeing a massive late day buyer of 3500 December 2026 $475 ITM puts at $87, over $30M
2/2/24 Marvell Tech (MRVL) more bull flow with 2000 April $75 calls bought
2/2/24 Taiwan Semi (TSM) seeing sweep buyers 2270 May $115 calls $7.65
2/2/24 Advanced Micro (AMD) 480 June 185 puts sell to open 21.50
2/2/24 Amazon (AMZN) buyers active in September 200 calls 10,000X
2/2/24 Amazon (AMZN) massive buyer of 8500 April $180 calls at $8.05 as some Feb 165 and March 180 calls adjust out in time
2/2/24 Snowflake (SNOW) buyer 5000 March $230/$260 call spreads as Feb. spreads adjust higher, name seeing big bull flow for a few months
2/2/24 Snap (SNAP) seeing 1000 Sept $19 calls buy at $2.79, also sells to open 1000 of the $11 puts at $0.78 for bull risk reversals
2/2/24 Broadcom (AVGO) with 498 May $1350 calls buy at $41.70 and sells 713 of the $1570 calls at $8.60 against in spreads
2/1/24 Nasdaq 100 ETF (QQQ) opening seller of 3000 Feb 23rd $412 puts at $3.87 to $4.06
2/1/24 Tesla (TSLA) opening sellers of 2900 March 1st $175 puts at $3.60
2/1/24 Caesars Entertainment (CZR) opening sale 3000 March $41 puts 1.69
2/1/24 Uber (UBER) opening sale 1000 July $60 puts $3.50
2/1/24 Schlumberger (SLB) 1200 Jan. 2026 $40 puts sell to open 3.95
2/1/24 Baker Hughes (BKR) opening sale of 8000 March $26 puts at $0.25
2/1/24 Citigroup (C) opening sale of 2500 April $60 ITM puts at $5.40 as $50 puts adjust
2/1/24 Vertiv (VRT) buyer 6000 March $60 calls $4.40 as Feb. $54 adjust, also 4000 next week $55 puts sell to open
2/1/24 Vertiv (VRT) also a buyer 5000 January $60/$85 call spreads as March $40 calls adjust
2/1/24 Advanced Micro (AMD) with 1000 Jan 2026 $260 calls opening for $2.28M as the $220 adjust
2/1/24 Microsoft (MSFT) buyer of 5,350 July $410/$460 call spreads also sells 4800 Dec $365 puts to open
2/1/24 Micron (MU) buyers 3800 April $87.50 calls at $5.35
2/1/24 Amazon (AMZN) block of 500 Jan. 2026 $155 puts sells to open for $20.30
2/1/24 Super Micro Computer (SMCI) opening sellers of 500 March $500 puts at $22
2/1/24 Nvidia (NVDA) seeing 200 June 2026 $900 / $1100 call spreads buy at $36