Topics covered:
1) 0:00 Announcements
2) 0:25 Market Commentary and Index Review (Nasdaq Composite, S&P 500, and Russell 2000)
3) 16:45 FOCUS LIST: NVDA, DELL, WING, VRT, LLY, NVO, CRWD, ISRG
4) 21:30 Stock Review – Software and Semiconductors: IGV (ETF), APP, SMH (ETF), TSM, AVGO, MU, KLAC
5) 22:50 Stock Review – Biotech/Medical Products: XBI (ETF), NBIX, CYTK, VKTX, CRNX, MRUS, NTRA, TMDX, RXST, PRCT
6) 24:45 Stock Review – Restaurants: CMG, CAVA, SG, SHAK, TXRH, DPZ
7) 25:40 Stock Review – Watch List/General Ideas/Commentary: AVAV, LDOS, HWM, VST, CEG, NRG, WFRD, ARIS, TTD, WWD, CAMT, CLS, NTAP, PSTG, PDD, CELH
8) 30:50 Stocks Near Buyable Ranges: NVDA, WING, LLY, NBIX
9) 32:20 Conclusion/Summary
Market Summary:
In the beginning of this video, I review the overall big picture in the market right now. I plan to summarize it in a Market Note and email it to members by the end of the weekend. The bottom line is we’re in a bull market and don’t argue with it. From here, remember the guidelines during power trends: 1) Use the 21-day EMA as your guide. This applies to the major indexes, ETFs, and individual stocks. 2) Focus on the best growth stocks out there. You can speculate with other ideas, but please do so with a smaller portion of your portfolio. If you have trouble watching too many stocks, use a blend of ETFs (index/sector) and stocks. 3) Get strong entry points. Please DO NOT chase extended stocks. 4) Manage your trades as best as possible based on your timeframe and overall investment objectives. 5) Stick to a loss-cutting discipline if any position turns against you.
I would like to focus on this last point quickly. I notice that many people have trouble taking losses. I know it’s not fun but it’s part of trading. You have to accept that not EVERY stock you buy will work out. Have the humility to accept that you will be wrong and learn to take losses. I don’t care if your loss is a certain dollar stop, a percentage stop, or a technical stop. All I care is that you have SOME FORM OF A STOP! I know it’s a bull market, but that doesn’t mean that every trade will be profitable. If you don’t learn this lesson, you will have no shot as a trader, and you will unfortunately take a big hit to your portfolio when the next bear market occurs. I don’t say this to be difficult; I am only saying it to encourage you to improve, especially if you have trouble with a loss cutting discipline. Thank you and enjoy the remainder of your weekend.
Unusual Option Activity:
5/17/24 Nasdaq 100 ETF (QQQ) large sized lots buying June $453 and $454 calls and also 1600 of the $454 puts sell to open near $8.00
5/17/24 Russell 2000 ETF (IWM) 1500 each of the March $196 and $195 puts sold to open for over $2.2M net premium
5/17/24 Ultra Crude (UCO) unusual 2000 July $32 puts sold to open 2.05
5/17/24 Gold ETF (GLD) 3150 November $255 calls selling to open near $3
5/17/24 Gold ETF (GLD) buyer 1500 November $225 puts $7.90 to $8
5/17/24 Silver ETF (SLV) 1000 October $32 puts sell to open 4.75 to 4.72
5/17/24 Biotech ETF (XBI) opening seller of 1500 October $85 puts at $3.15
5/17/24 Utilities ETF (XLU) with 19,000 September $78/$85 call spreads bought at $0.67
5/17/24 Target (TGT) 2568 May 31st (W) $155 calls are bought $9 to open into earnings 5-22
5/17/24 Dollar Tree (DLTR) with 5000 June $100 puts sell to open 0.83
5/17/24 Tesla (TSLA) seeing 16,000 May 24th $185 calls sell to open $126 as May 17th $175 short calls adjust
5/17/24 Costco (COST) with 200 October $840 calls buy at $32.80 in a stock replacement
5/17/24 PDD Holdings ADR (PDD) buyer 2000 May 31st (W) $145 calls $7.65 offer and higher.
5/17/24 PDD Holdings ADR (PDD) also 10,000 August $130 puts sold to open 5.25 to 5
5/17/24 PDD Holdings ADR (PDD) also 4350 August $140 puts sell to open $9.05
5/17/24 PDD Holdings ADR (PDD) also with 1500 July $165 calls buy at $5.65
5/17/24 Coupang (CPNG) opening seller of 1200 July $24 puts at $1.53
5/17/24 Home Depot (HD) 1250 July $325 puts selling to open $3.70 to $3.50
5/17/24 MicroStrategy (MSTR) buyer 200 June 7th (W) $1550 calls $120
5/17/24 Coinbase (COIN) with 3300 June $230 calls buying at $11.70 to $11.90 in large lots
5/17/24 Springworks Therapeutics (SWTX) unusual buy 1000 June $45 calls $3.50, stock replacement
5/17/24 Modine Manufacturing (MOD) 1500 June $120 calls buy $3.34 as the $105 and $110 adjust again into 5-21 earnings
5/17/24 Cameco (CCJ) with 4000 June 14th $53 calls buy at $1.30
5/17/24 Cameco (CCJ) also with buyers of over 6000 May 31st $53 calls at $1.25 to $1.65
5/17/24 Cadence Design (CDNS) seeing 1700 June $270 puts sold to open at $2.45 to $2.40
5/17/24 Nvidia (NVDA) seller to open 225 Jan. 2026 $920 puts for $177.85
5/17/24 Nvidia (NVDA) seeing 6000 June 2026 $750 puts sell to open at $117.60
5/17/24 Nvidia (NVDA) also 6450 of the June 2026 $700 puts sell to open at $97.75, plenty of large long term put sales this week
5/17/24 Snowflake (SNOW) buyer 2000 June 185 calls $4.60 offer
5/17/24 Snowflake (SNOW) large opening sales of 1400 May 31st $170 ITM puts at $14.25 down to $13.80
5/17/24 Qualcomm (QCOM) sees a buyer of 2000 June 14th $185 calls at $10.60 to $11.05 as May calls adjust
5/17/24 Oracle (ORCL) 1500 June 14th (W) $125 calls bought $3.80 to $4
5/17/24 Micron (MU) buyer 1350 August $120 calls $15.49
5/17/24 Micron (MU) buyer of 1190 August $160 calls at $2.50
5/17/24 Advanced Micro (AMD) opening sale 1000 March 2025 $200 puts for $44.25
5/17/24 Advanced Micro (AMD) seeing 500 June 28th $150 ITM calls buy at $16.85 to $17
5/16/24 Nasdaq 100 ETF (QQQ) trade sells 3000 July $495 calls to buy $470/$425 put spreads, likely collaring a large holding
5/16/24 Russell 2000 ETF (IWM) large buyer of over 12,000 Dec $235 calls at $4.48 to $4.57 in large lots
5/16/24 Ultra Silver ETF (AGQ) seeing a buyer of 250 July $40 calls at $4.10 offer
5/16/24 Costco (COST) more bull flow 1250 next week $800 calls with buyers for $1.1M
5/16/24 Nike (NKE) 1660 May 31st (W) $93 calls bought $1.30 to $1.37
5/16/24 Walmart (WMT) 3000 June $63.30 puts sell to open 1.11
5/16/24 Target (TGT) seeing 3500 June $165/$155 bull risk reversals open at $2.85 debit, reports next week
5/16/24 On Holding (ONON) 1800 September $42.50 calls sold to open 1.95
5/16/24 Shark Ninja (SN) buyers of 300 Dec $75/$95 call spreads
5/16/24 Tesla (TSLA) seeing 900 June 28th (W) $175 puts bought $9.50
5/16/24 Uber (UBER) opening sale 8000 June 28th (W) $61 puts 0.64
5/16/24 Airbnb (ABNB) 1000 Nov $185 calls sell to open 4.20
5/16/24 PDD Holdings ADR (PDD) with 6000 May 24th (W) $150/$160 call spreads bought into earnings 5-22
5/16/24 Marathon Petro (MPC) with 300 June 2025 $155 puts sold to open 10.40
5/16/24 Stryker (SYK) 200 December 320 puts sell to open 12.50
5/16/24 Bridge Bio (BBIO) buyer 2000 August $30 puts $4.60 also buys 2500 of the $55 calls $0.45
5/16/24 Eli Lilly (LLY) opening sale 100 November 750 puts for $42
5/16/24 Novo Nordisk (NVO) 500 December $135 puts sell to open 11.25
5/16/24 Abbott Labs (ABT) 800 January 2026 $105 calls bought $13.90
5/16/24 Meta (META) opening sale of 1500 June 7th $475 puts at $10.70
5/16/24 Advanced Micro (AMD) 3500 August $185 calls are bought $6.60 to open
5/16/24 Marvell Tech (MRVL) large buy 1000 June 7th (W) $72 calls $3.87, reports 5-30
5/16/24 Google (GOOG) 1000 March $165 puts sell to open $10
5/16/24 Texas Instruments (TXN) buyer 1200 September $220 calls 2.92 offer
5/16/24 DataDog (DDOG) size opening sale 700 April $125 puts $18.45
5/16/24 Nvidia (NVDA) seeing 1325 June 2026 $760 puts sell to open at $118.21, confident long term bull for over $15.6M in premium collected
5/16/24 Nvidia (NVDA) two large long-dated trades, the June 2025 $1390/$950 bull risk reversals opened at a large credit, and a buyer of 500 Jan 2026 $1700 calls for $84.79