Topics covered:
1) 0:00 Announcements
2) 0:30 Market Commentary and Index Review (Nasdaq Composite, S&P 500, and Russell 2000)
3) 6:40 FOCUS LIST: NVDA, LLY, MSFT, ISRG
4) 9:40 Stock Review – Software and Semiconductors: IGV (ETF), NOW, GWRE, GDDY, SMH (ETF), AVGO, TSM
5) 11:55 Stock Review – Biotech/Medical Products: XBI (ETF), DYN, ALNY, TMDX, HALO, MMSI, GRAL
6) 13:25 Stock Review – Watch List/General Ideas/Commentary: META, NTAP, FTAI, VRTX, AMGN, CWAN, ASTS, SFM
7) 16:35 Conclusion/Summary

Market Summary:
We’re in correction/choppy environment/downtrend mode, so I would like to remind members of the main guidelines: 1) Raise cash. This is mostly for traders, but even if you are a long-term investor, you still have to have some form of a loss cutting discipline. In my view, that level is the 200-day moving average if you are longer-term. 2) Cut losses. Whether it’s a dollar stop, a percentage stop, or a technical stop, you have to have some form of a loss cutting strategy. 3) Use lighter positions if you decide to trade. I prefer members take some time off to reduce frustrations, but if you are inclined to trade, at least minimize your position size until market conditions improve. 4) Show some patience and discipline. DO NOT HAVE FOMO on any little uptick in the market. 5) There will be another power trend in the future, but in the meantime, it’s very important to protect your mental capital.

From here, I would like to see signs of the selling slow down, more growth stocks to set up, some follow through days, and for the major indexes to get back above their 50-day moving averages. My instincts tell me that this could take 4-8 weeks before we see these healthier signs. Of course, I will take things day-by-day but PLEASE practice some discipline and patience until market conditions improve. Thank you and good luck for the remainder of the week.

Unusual Option Activity:
8/6/24 S&P 500 ETF (SPY) sees 8000 Nov $470/445 bull put spreads sell to open $2.73
8/6/24 S&P 500 ETF (SPY) also seeing 3000 Nov $485 puts sold to open $11.15
8/6/24 Bitcoin Strategy ETF (BITO) buyer of 2000 Sept $15 ITM calls at $3.10 to $3.20
8/6/24 Oil & Gas Bull 2x ETF (GUSH) rare trade sees 1000 Dec $30 calls buy at $3.80
8/6/24 Tesla (TSLA) seeing 1900 Sept 2025 $210 calls sell to open at $45.65
8/6/24 Tesla (TSLA) also with 750 August 2025 $150 puts sell to open at $17.10 bids
8/6/24 Tesla (TSLA) also sees 600 Feb $195 puts sell to open at $30.55
8/6/24 Uber (UBER) sees a block of 8400 Sept 13th $53 puts sell to open $0.79
8/6/24 Uber (UBER) also sees 1250 June 2026 $67.50 calls sell to open for $14.50
8/6/24 Lyft (LYFT) sees a large buyer of 12,000 Jan $16 calls at $0.68 offer in a single block
8/6/24 Netflix (NFLX) sees a large opening seller of 1500 Nov $640 calls at $39 to $36.60
8/6/24 Starbucks (SBUX) more buyers today for 3050 Dec 2026 $75 calls at $14.70 offers
8/6/24 Wynn Resorts (WYNN) seeing a block of 1200 January 2026 $65 puts sell to open at $7.60
8/6/24 Phillips 66 (PSX) seeing 280 Sept $155 ITM puts sell to open $21.30
8/6/24 Chevron (CVX) with 870 Dec 2026 $130 puts sell to open at $14.45
8/6/24 Coinbase (COIN) sees 2300 Nov $110 puts sell to open $4.65 to $4.35 bids
8/6/24 RxSight (RXST) sees 1600 Sept $55 calls sell to open $1.50
8/6/24 Eli Lilly (LLY) 1000 Nov $840 calls selling to open $52 to $51.50
8/6/24 Natera (NTRA) 1050 Sept $80 puts sold to open $4.50, reports Thursday
8/6/24 Taiwan Semi (TSM) with 1600 June $165 calls bought $19.30
8/6/24 Nvidia (NVDA) opening sale of 1700 December $83 puts at $7.26
8/6/24 Nvidia (NVDA) 1600 Dec 2025 $78 calls bought $41.15 as the Dec 2024 $65 calls adjust
8/6/24 Nvidia (NVDA) large buyer of 23,311 Dec 2025 $84 deep ITM calls for $41.40 as the Dec $65 calls adjust, over $95M
8/6/24 Nvidia (NVDA) also sees 2600 Sept 2025 $128 calls sell to open at $18.36
8/6/24 Arm Holdings (ARM) 400 March $120 calls sell to open $23 to $25
8/6/24 Arm Holdings (ARM) some buyers of 650 June $195 calls at $11.05
8/6/24 Arm Holdings (ARM) also a large buyer of 3000 Dec 2026 $115 calls at $51 to $52, over $15M
8/6/24 Micron (MU) with 500 Dec 2026 $90 puts sell to open $21.75, also the $60 puts sold for $8.40
8/6/24 Micron (MU) 600 Dec 2024 $82.50 puts sold to open $8.40
8/6/24 Advanced Micro (AMD) seeing 4000 Dec $90 puts sell to open at $2.70
8/6/24 Marvell Tech (MRVL) opening sale of 1600 Feb $47.50 puts at $3.20
8/6/24 Microsoft (MSFT) sees 1800 Oct $405 calls buying $20
8/6/24 Meta (META) seeing 2200 Aug 23rd $495 puts sell to open $16.10
8/6/24 Constellation Energy (CEG) sees 1750 Jan 2026 $200 calls buying at $35 to $36, over $6.5M
8/5/24 S&P 500 ETF (SPY) buyer of 1400 Jan 31st $463 ITM calls at $78.35, also buyers of the $470 calls
8/5/24 Oil & Gas ETF (XOP) with 2000 Dec $130 puts sell to open $10.55
8/5/24 Dow Jones ETF (DIA) midday buyer of 2000 December $395 calls at $16.10
8/5/24 Gold ETF (GLD) with opening sales of 4500 June $270 calls at $4.40 to $4.30
8/5/24 Home Depot (HD) sees 1900 Sept $325 puts sell to open at $8.00
8/5/24 Chipotle (CMG) sees a block of 4450 January $61 calls bought at $2.17
8/5/24 Starbucks (SBUX) with 3900 Dec 2026 $75 calls bought at $13.50 late day
8/5/24 Uber (UBER) large block of 16,800 Sept $50 puts sell to open at $1.30 as the Aug 23rd $57 short puts adjust
8/5/24 Uber (UBER) also with 3300 Oct $60 calls buy at $4.38 as Sept calls adjust
8/5/24 Occidental (OXY) with 1800 Nov $55 puts sell to open $3.30
8/5/24 Occidental (OXY) sees 5k Oct $50 puts sell to open $1.00 as Aug 23rd $56 puts adjust
8/5/24 Robinhood (HOOD) sees 1350 Feb $16 puts sell to open $3.05
8/5/24 Vertex Pharma (VRTX) with 4202 Sept $530 calls sold to open at $3.50 in a single block
8/5/24 Vertiv (VRT) sees 4200 Nov $50 puts sell to open $3.50 bids
8/5/24 Taylor Morrison Home (TMHC) with 2250 Sept $60 puts sell to open $2.00
8/5/24 Broadcom (AVGO) with 500 March $155 calls buy at $15.60
8/5/24 Micron (MU) buyer of 5000 Oct $90 calls at $10 as $110 calls adjust
8/5/24 Micron (MU) also large buyer of 4500 Nov $110 calls at $4.15 to $4.40
8/5/24 Amazon (AMZN) 1650 Feb $195 calls sell to open $6.95 to $6.40
8/5/24 Taiwan Semi (TSM) 6000 Jan 2026 $160 calls buy at $26.55 as the $180 calls adjust
8/5/24 Meta (META) opening sale of 2000 Sept $575 calls at $2.28, also a sale of 2400 Aug 23rd $515 calls at $5
8/5/24 Nvidia (NVDA) buyers of 2150 Aug 30th $90 ITM calls at $17.65
8/5/24 Nvidia (NVDA) sees 2000 Sept 6th $99 puts sell to open $10.60 adjusts some Aug 23rd $106 short puts
8/5/24 AST SpaceMobile (ASTS) sees 3000 Jan $17.50/$25 call spreads buy $2.23
8/5/24 Salesforce (CRM) with 1000 Dec 2026 $240 calls bought at $60.85 offers