Topics covered:
1) 0:00 Announcements
2) 0:35 Market Commentary and Index Review (Nasdaq Composite, S&P 500, and Russell 2000)
3) 13:00 FOCUS LIST: NVDA, ARM, NTAP, LLY, MSFT, ISRG
4) 16:55 Stock Review – Software: IGV (ETF), NOW, PANW, CYBR, GWRE, APPF
5) 18:40 Stock Review – Semiconductors: SMH (ETF), TSM, AVGO, CRUS
6) 19:35 Stock Review – Biotech/Medical Products: XBI (ETF), NBIX, CRNX, MRUS, SNDX, SUPN, HALO, TWST, GH, AORT, TMDX, PRCT
7) 23:00 Stock Review – Aerospace/Defense: GE, FTAI, LDOS, HWM, WWD
8) 24:00 Stock Review – Watch List/General Ideas/Commentary: NVO, DELL, SMCI, MU, TSLA, VRTX, AMGN, VRT, CAMT, CLS, COHR, PLTR, DY, KKR, COIN, ASTS
9) 29:15 Conclusion/Summary

Market Summary:
On Tuesday, July 9th, I sent a Market Note to members saying that I was expecting a normal pullback for the major indexes down to their 50-day moving averages. Now that it happened, here’s what I’m looking for: 1) Signs that the selling is slowing down. 2) A follow through day and for the Nasdaq Composite to get back above its 50-day. 3) More growth stocks to setup. In going through my screens to prepare for this weekend’s video, I noticed that many stocks acting well were in the Insurance and Regional Bank sectors. I prefer to see better action in growth sectors. 4) I will always pay attention to stocks showing great relative strength and do my best to pass them along to members. 5) I’m not going to get overly bearish. In the Market Note, I mentioned that I was expecting a 3-5% pullback in the S&P 500 and that’s what we’ve seen so far. I would still like to see the market prove itself a little better over the near-term.

From here, I am not expecting any sustained upside, but I’m also not expecting any major downside. I think the market just needs to have a normal consolidation before hopefully starting a new power trend in the Fall. For now, I’m expecting a range and will remain defensive until I see better price action. As always, I will be open-minded and take things day-by-day. In this video, I also discuss the recent sector rotation into small caps and other sectors that could benefit from lower interest rates over the next 6-9 months. If you have any questions, you can ask them during the next LIVE webinar, which will be this Monday, July 29th at 7PM EST. Thank you and enjoy the rest of your weekend.

Unusual Option Activity:
7/26/24 Equal Weight S&P (RSP) buyer of 2500 Sept $176 calls at $1.54
7/26/24 Energy ETF (XLE) 1150 Dec 2026 $78 puts sell to open $5.20
7/26/24 Biotech ETF (XBI) buyer 1000 Jan $97 calls for $11.35
7/26/24 Russell 2000 ETF (IWM) Sept 2025 $225/$240 call spreads bought 1700X
7/26/24 Gold ETF (GLD) sees 1500 Jan 2026 $260 calls sell to open at $9.11
7/26/24 Gold ETF (GLD) also opening sales of 3000 March $245 calls at $4.95 bids
7/26/24 Tesla (TSLA) buyer of 4200 Nov $225 calls at $24.35 as the Sept $205 calls adjust
7/26/24 Tesla (TSLA) also with 6000 March $325 calls being bought in large lots at $11.55 to $11.85, over $7M
7/26/24 Rivian (RIVN) 7000 March 12.50 puts sold to open for 1.61
7/26/24 Chipotle (CMG) sees 12,000 August 30th $45 puts sell to open at $0.40
7/26/24 Chipotle (CMG) also a large block buying 4850 Dec $56.10 calls at $2.60
7/26/24 Disney (DIS) with 725 March $90 calls buying at $9.30 to $9.45 in large lots
7/26/24 Starbucks (SBUX) buyers of 500 Dec $80 calls at $3.55
7/26/24 McDonalds (MCD) 1000 Dec $230 puts sold to open $4.90
7/26/24 Spotify (SPOT) 470 Oct $290 puts sold to open for $7.50
7/26/24 Goldman Sachs (GS) sale to open 125 Jan 2026 $500 puts for $52
7/26/24 Coinbase (COIN) 300 June 2025 $160 puts sold to open $21.50
7/26/24 MicroStrategy (MSTR) with 100 Sept $1850 calls bought for $2.5M
7/26/24 CleanSpark (CLSK) 4000 Jan 2026 $2.50 puts sold to open $0.31
7/26/24 Procept BioRobotics (PRCT) large buyers again of 1500 August $60 puts at $7.60 to $8
7/26/24 Viking Therapeutics (VKTX) 2500 August 2nd (W) $70/$80 call spreads bought
7/26/24 Castle Biosciences (CSTL) unusual buys of 800 Jan $25 calls $2.80 to $3.20
7/26/24 Olema Pharma (OLMA) unusual size buy 850 Jan $17.50 calls $3.95
7/26/24 UnitedHealth Group (UNH) with 800 Oct $590 calls buying at $19.50 to $19.83 as the Sept $580 calls adjust
7/26/24 Toll Brothers (TOL) with 650 Dec $130 puts sell to open $7.60
7/26/24 Beazer Homes (BZH) opening seller 500 each Nov and Dec $30 puts
7/26/24 Arm Holdings (ARM) 2000 August $160 calls buying at $10.20 to $10.35, reports 7/31
7/26/24 Arm Holdings (ARM) buyer 1000 Oct $175 calls $10.25 to $10.45
7/26/24 Nvidia (NVDA) buyers of 3000 August $116.50 calls at $5.15 to $5.7
7/26/24 Nvidia (NVDA) adjustment opens 6300 August 30th (W) $115 short puts $9.50 to $9.61
7/26/24 Amazon (AMZN) buyer 1000 Feb $210 calls for $10.55
7/26/24 Microsoft (MSFT) buyer 5000 Oct $440 calls for $16.10 and 5000 of the $435 calls $18.45 as Sept $430 adjusted
7/26/24 Microsoft (MSFT) also 1500 Nov $460 calls bought for over $2M
7/26/24 Microsoft (MSFT) August $395 put sellers 5000X at $4
7/26/24 Meta (META) buyers of 3500 Sept $480 calls $26.15 to $26.55
7/26/24 Advanced Micro (AMD) 1250 Sept $145 calls bought $9.95 offer sweeps
7/26/24 Monolithic Power (MPWR) bull flow with buyers in Sept $800 and $820 calls 100X
7/26/24 Google (GOOG) into dip sees buyers of 3000 Oct $190 calls at $1.95
7/26/24 Baidu (BIDU) large buyer of 1400 Jan $95 calls at $7.75 to $7.80
7/25/24 Nasdaq 100 ETF (QQQ) opening sale of 6k Oct $435 puts at $8.49, and 9000 Oct $370 puts sold for $1.53
7/25/24 Russell 2000 ETF (IWM) over 7700 Aug 23rd $225 calls bought $4 to $5
7/25/24 Russell 2000 ETF (IWM) opening seller of 8400 Aug 9th $208/$202 bull put spreads for $0.39
7/25/24 Healthcare ETF (XLV) buyer of 2200 Oct $150 calls at $4.95 as the Sept $145 calls adjust
7/25/24 Lithium ETF (LIT) large buyer of 10,000 Oct $39 puts at $2.55 as the $42 puts adjust
7/25/24 Biotech ETF (XBI) large buys of 6000 August $97 calls at $5 to $5.40
7/25/24 Tesla (TSLA) sees 3000 Aug 2nd $227.50 calls buying at $5.45 as $225 calls adjust
7/25/24 Tesla (TSLA) sees 1200 Jan 2026 $185 deep ITM calls buy at $77 up to $81.40 for nearly $10M
7/25/24 DoorDash (DASH) with 1000 November $115 calls sell to open $7.16
7/25/24 Applovin (APP) opening sales of 450 Jan 2026 $60 puts at $10.11
7/25/24 Applovin (APP) also sales of 970 Sept $72.50 puts at $5.80 to $5.70
7/25/24 Golar LNG (GLNG) with 500 Jan 2026 $30 puts sell to open $2.75 to $2.90
7/25/24 Constellation Energy (CEG) seeing 2600 Aug $185 calls sell to open $5
7/25/24 Constellation Energy (CEG) also seeing buyers of 1200 Jan $200 calls at $12.50 to $13
7/25/24 Coinbase (COIN) buyers of 1300 Nov $200 ITM calls at $61.50 to $64
7/25/24 MicroStrategy (MSTR) seeing 500 Sept $1200 puts sell to open at $75
7/25/24 Blackstone (BX) buyers of 1200 March $130 calls at $19.75 to $20.50
7/25/24 Visa (V) with 1000 March $305 calls buying $4 to $4.20
7/25/24 Natera (NTRA) with 1400 Nov $110 calls buy at $11.70 as Aug $115 calls adjust
7/25/24 Viking Therapeutics (VKTX) sees 400x800x November $65/$80 call ratios opening
7/25/24 Viking Therapeutics (VKTX) also seller to open 400 of the $50 puts at $5.80
7/25/24 J&J (JNJ) seeing 8000 Jan $170 calls bought at $3.14 to $3.20 as August $160 calls adjust up and out
7/25/24 Procept BioRobotics (PRCT) buyers of 1500 Aug $65 puts at $7 to $9
7/25/24 Ionis Pharma (IONS) with 2500 Oct $52.50 calls bought at $3.60 as the Sept call spreads adjust
7/25/24 Micron (MU) with 6000 October $110 calls buying at $9.90 to $10 as the $125 calls adjust
7/25/24 Micron (MU) also buyer of 4200 Aug 2nd $105 calls at $3.95 to $4.20
7/25/24 Dell (DELL) large buyer into the selloff for 1500 Sept $115 calls at $9.10 offer
7/25/24 ServiceNow (NOW) sees 5000 Nov $740 calls buy at $116.32 as the August $700 calls adjust
7/25/24 Meta (META) large opening seller of 4500 September $430 puts at $20
7/25/24 Cadence Design (CDNS) opening sale 1000 Sept $235 puts at $3.20
7/25/24 Marvell Tech (MRVL) large buyer of 15,000 August 30th $70/$80 call spreads for $1.98, captures earnings 8/29
7/25/24 Broadcom (AVGO) massive buyer of 4300 Jan 2026 $109 calls at $55.70 to $56, over $23M in large lots
7/25/24 Nvidia (NVDA) large buyer of 1000 Sept 6th $113 calls at $11.80 offers
7/25/24 Nvidia (NVDA) buyers of 3500 Aug 23rd $110 calls at $5.90 to $7.65 playing for rebound into earnings 8/28
7/25/24 Nvidia (NVDA) seeing a much larger buy of 40,145 Sept $115 calls at $11.55 as the August $127 calls adjust out
7/25/24 Nvidia (NVDA) 1200 Sept 6th $112 puts sell to open $9.94, also the $110 puts selling for $8.91 looking for support near 100
7/25/24 Nvidia (NVDA) large opening sale for 76,346 next weeks Aug 2nd $122 calls at $1.45, the weekly short call player so likely ceiling on a bounce is 122-123