Topics covered:
1) 0:00 Announcements
2) 0:15 Market Commentary and Index Review (Nasdaq Composite, S&P 500, and Russell 2000)
3) 11:00 FOCUS LIST: NVDA, ARM, NTAP, LLY, MSFT, DELL, ISRG, MU, CRWD, NVO
4) 20:20 Stock Review – Software: IGV (ETF), SNPS, CDNS, NOW, APP, PANW, CYBR, APPF
5) 24:10 Stock Review – Semiconductors: SMH (ETF), TSM, AVGO, KLAC, LRCX, AMAT, UCTT
6) 25:40 Stock Review – Medical Products: XBI (ETF), NBIX, STAA, NTRA, TMDX, HALO, PRCT, RXST
7) 30:40 Stock Review – Watch List/General Ideas/Commentary: WING, CAVA, BROS, FTAI, LDOS, VRTX, AMGN, TTD, VRT, SMCI, CAMT, CLS, FN, DY, AMSC, COHR, PSTG, PLTR, CEG, NRG, VST, BKNG
8) 38:10 Conclusion/Summary

Market Summary:
In the two weeks leading up to July, I presented those two statistics showing the potential seasonal strength we could see in first 2-3 weeks of July. I’m glad it worked out and, as I mentioned in my Market Note last week, I took some profits into this strength. I remind members of two things in this video: 1) As always, do what works for you. After a decent run, minimizing downside volatility for my managed account clients is one of my investment objectives. Make sure you know your OWN objectives. 2) My style of active management isn’t for everyone. I will do my best to share with you what I’m doing, but again, I encourage members to have their OWN plan and always know your timeframe.

From here, I could see some more strength during this upcoming week of regular cycle options expiration, but after that, I am expecting a normal pullback to the 50-day moving average into August. I don’t think the pullback will be severe, and in this video I mention the levels that the QQQ and SPY should hold based on the unusual options activity. As always, I will take this day-by-day, but overall, I will likely continue with my reduced exposure over the next 3-6 weeks, as I am not expecting any significant upside from the major indexes during that time. If the market pulls back, it will be a healthy consolidation that could provide for better entry points in the future, and I will definitely be looking to put money back to work when the time comes. Thank you and good luck this week.

Unusual Option Activity:
7/12/24 Russell 2000 ETF (IWM) size buy 34,400 Nov $225 calls $6.20 as some 215 and 220 adjust
7/12/24 Russell 2000 ETF (IWM) buyer of 8000 Aug 30th $220 calls for $3.80 as July 26th $211 calls adjust
7/12/24 Ark Genomic ETF (ARKG) buyer 15,000 August $25 puts $0.8 after 10K buy yesterday of puts
7/12/24 Dow Jones ETF (DIA) block of 3000 Dec $420 calls trades $7.10 offer
7/12/24 Semiconductor Bull 3X ETF (SOXL) buyers of 1100 Nov $66 calls $11.90 to $12.15
7/12/24 Oil Services ETF (OIH) with 2400 Jan $380 calls bought at $6.12
7/12/24 Homebuilders ETF (ITB) buyers of 2000 Aug $112 calls at $2.75 as July $101 calls adjust
7/12/24 Rivian (RIVN) seeing 2900 Sept $19 calls buying at $2.36 offers
7/12/24 Rivian (RIVN) buyers of 2400 Oct $25 calls at $1.15 to $1.25, and 4500 Sept $25 calls bought at $0.75
7/12/24 Walmart (WMT) 1500 Aug 23rd (W) $69 puts bought $1.59 as August adjust
7/12/24 Monster Beverage (MNST) 1725 Jan 2026 $42.50 puts bought $2.15 to $2.35
7/12/24 Ulta Beauty (ULTA) buyer 300 January $380 puts for $20.50
7/12/24 Tesla (TSLA) seeing 1200 Oct $220 puts sell to open at $14.25 down to $13.50
7/12/24 Tesla (TSLA) also sees a buyer of 1150 Oct $320/$330 call spreads for $1.50
7/12/24 Tesla (TSLA) buyers also active for 1550 Aug 2nd $245 calls at $19.45
7/12/24 McDonald’s (MCD) with 1500 Aug 2nd $245 puts buying at $2.10 to $2.15, earnings 7/29
7/12/24 Uber (UBER) buyer 1100 Jan 2026 $90 calls $10.05
7/12/24 Chipotle (CMG) 1445 March $58 calls buying $7.60 to open
7/12/24 APA (APA) 1000 June 2025 $30 puts sell to open $3.90
7/12/24 Halliburton (HAL) buyer of 3000 January 2026 $38 calls at $3.84, over $1.1M
7/12/24 Citigroup (C) sees 10,000 Nov $70 calls buy at $1.55 as the $72.50 calls adjust
7/12/24 American Express (AXP) 1875 August $230 puts sell to open 4.13 into earnings next week
7/12/24 Morgan Stanley (MS) 4000 Nov $115 calls are sold to open 2.38
7/12/24 Wells Fargo (WFC) seeing 7000 Jan 2026 $55 calls buy at $8 as the $47.50 calls adjust
7/12/24 MicroStrategy (MSTR) buyer of 720 August $1600/$1650 call spreads at $13
7/12/24 Amgen (AMGN) with 2500 July $335 calls hot early, Obesity data in focus
7/12/24 Blueprint Medicines (BPMC) with even more bull flow as 1720 Jan $120 puts sell to open $12.25
7/12/24 Insmed (INSM) 620 January 75 puts selling to open today 8.70 to 7.50
7/12/24 Corbus Pharma (CRBP) seeing 1000 August $60/$45 bull risk reversals open at $4 debit
7/12/24 Boston Scientific (BSX) buyer of 4000 August $80 calls at $1.30 to $1.35
7/12/24 Eli Lilly (LLY) buyer of 150 Feb $1380 calls at $9
7/12/24 Clean Harbors (CLH) seeing July 230 calls adjust to August $240 750X
7/12/24 Advanced Drainage (WMS) 1000 August $175 calls bought for $5.30 as July adjust
7/12/24 Nvidia (NVDA) sees a buyer of 1200 June 2026 $220 calls at $17.10
7/12/24 Nvidia (NVDA) block of 4000 Jan 2026 $130 puts sell to open 26.71
7/12/24 Nvidia (NVDA) also seeing some buyers of 1500 Oct $145 calls at $9.15 to $9.30
7/12/24 Nvidia (NVDA) opening sale of 64,358 next weeks July $136 calls at $1.48 bids in a single block
7/12/24 Marvell Tech (MRVL) 8000 Aug 30th (W) $62 puts sell to open $0.97
7/12/24 On Semi (ON) 7980 August 23rd (W) $62 puts sell to open 0.59, similar to MRVL
7/12/24 Qualcomm (QCOM) 250 Nov $200 calls bought $20.65 to $20.85
7/12/24 Corning (GLW) buyer 5000 August $47 calls $1.20 to $1.25
7/12/24 Palantir (PLTR) 3000 March $29 puts sell to open $5.19
7/12/24 Synopsys (SNPS) 600 September $680 calls open $14.40 as July 640 adjust
7/12/24 Google (GOOGL) opening seller of 1000 June 2025 $180 puts at $14.26
7/12/24 Oracle (ORCL) buyers of 1750 Aug 2nd $144 calls at $3.35 to $3.45
7/12/24 Arm Holdings (ARM) with 1500 Dec $105 puts sell to open $2.89
7/11/24 Tesla (TSLA) 1900 June 2026 $250 puts sell to open at $66.13 as the $160 short puts adjust
7/11/24 Costco (COST) October $810/$760 bull put spreads opening
7/11/24 Rivian (RIVN) 3900 Sept $16 puts selling to open near 1.70
7/11/24 Rivian (RIVN) 3000 Dec 2026 $17.50 puts sell to open $6.85 as Jan 2026 $15 puts adjust
7/11/24 PDD Holdings (PDD) with 1600 Aug 9th $140 puts sell to open $4.50
7/11/24 Shopify (SHOP) buyer 1000 March $70 calls $9.14
7/11/24 Shopify (SHOP) 2950 Oct $50 puts sold to open 1.03
7/11/24 Netflix (NFLX) buyer of 500 March $680/$730 call spreads for $20.80, earnings next week 7/18
7/11/24 Marathon Petroleum (MPC) opening sale of 1000 Jan $165 puts at $12.95 to $12.65
7/11/24 Baker Hughes (BKR) buyer 4000 Jan $38 calls for $1.40, reports 7-25
7/11/24 Robinhood (HOOD) size buy 5000 September $27 calls $1.49
7/11/24 Robinhood (HOOD) opening seller of 1000 Feb $23 puts at $4.50 bids
7/11/24 Goldman Sachs (GS) 880 Aug 2nd (W) $500 calls bought $4.90 to $5.50 into earnings
7/11/24 Wells Fargo (WFC) 1850 November $70 calls bought 0.72
7/11/24 Coinbase (COIN) buyer of 1000 Sept $330/$360 call spreads today for $2.14
7/11/24 Berkshire Hathaway (BRK.B) buyer of 1000 August 9th (W) $425 calls $3.39
7/11/24 Lantheus Holdings (LNTH) 350 January $145 calls buy $9.20
7/11/24 Lantheus Holdings (LNTH) also buyers of 1000 Aug $160 calls at $1.65
7/11/24 Revolution Medicine (RVMD) sees 825 March $45 puts sell to open $10 to $9
7/11/24 Eli Lilly (LLY) with 350 Nov $930 puts sell to open $55.65 adjusting the $850 short puts
7/11/24 GlaxoSmithKline (GSK) odd buyer of 4000 Feb $48 calls at $0.39 to $0.40
7/11/24 United Health (UNH) buyer 440 October $560 calls $8.55 offer
7/11/24 Corning (GLW) buyer 1200 February $50 calls $2.80 offer
7/11/24 American Superconductor (AMSC) buyers of 2400 Aug $35 calls at $1.70 to $1.90
7/11/24 Taiwan Semi (TSM) 1000 March $170 puts sell to open $13.85
7/11/24 Microsoft (MSFT) 1000 August 9th (W) $425 puts sold to open 3.25 to 3.20
7/11/24 Microsoft (MSFT) with 600 June 2026 $485 calls buy at $65.50 as June $435 calls adjust
7/11/24 Nvidia (NVDA) 4000 Oct 165 calls sell to open 4.50
7/11/24 Amazon (AMZN) 2000 Aug 9th $195 calls buy at $9.12 as August $215 calls adjust to capture 8/1 earnings
7/11/24 Reddit (RDDT) aggressive buyer 950 Sept $72.5 calls $9.40 offer
7/11/24 Reddit (RDDT) also trades 4000 each of the August and August 23rd (W) $80/$95 call spreads to open
7/11/24 S&P 500 ETF (SPY) with 12,500 August $560 puts buying at $6.48 to $6.60 today, large lots
7/11/24 Homebuilders ETF (XHB) with 4000 August $108 calls buying at $1.72 up to $1.94
7/11/24 China Internet ETF (KWEB) size buys 13000 Nov $30 calls $1.75 offer
7/11/24 Ark Genomic ETF (ARKG) buyer 10,000 August $24 puts $0.80
7/11/24 2X Bitcoin ETF (BITX) 3500 Jan 2026 $55 calls sold to open $9.20
7/11/24 Russell 2000 ETF (IWM) large buyer of 17,000 Oct $220 calls at $4.43, adjusting the $211 calls higher
7/11/24 Russell 2000 ETF (IWM) 18,000 August $217 calls sell to open in a buy write at $1.51, potential target into August up there as willing to be called away about 10 points higher