Topics covered:
1) 0:00 Announcements
2) 0:35 Market Commentary and Index Review (Nasdaq Composite, S&P 500, and Russell 2000)
3) 11:20 FOCUS LIST: NVDA, LLY, MSFT, ISRG, META
4) 16:00 Stock Review – Software: IGV (ETF), NOW, PANW, CYBR, CHKP, GDDY, CVLT, VRNS, SMAR, APP
5) 13:00 Stock Review – Semiconductors: SMH (ETF), AVGO, TSM, CRUS, MPWR
6) 20:30 Stock Review – Biotech/Medical Products: XBI (ETF), DYN, CSTL, SUPN, CRNX, CRBP, VKTX, LBPH, ALNY, TMDX, HALO, MMSI, NTRA, NVCR, PRCT
7) 25:30 Stock Review – Others/General Ideas/Commentary: NFLX, ASTS, RKLB, LUNR, CWAN, SFM, PLTR, ONON, CAVA, SHAK, SG, WING, FTAI, HWM, SPOT, VST, CEG, NEE, VRT, TEM, COHR, DECK
8) 34:10 Stocks Near Buyable Ranges: XBI (ETF), META, SFM
9) 35:50 Conclusion/Summary

Market Summary:
Since the follow through day (FTD) on Tuesday, August 13th, the price action has been very strong. We’ve seen 4 FTDs in the past 9 trading days. Basically, the price action has been accumulation on stronger volume, and consolidation on lighter volume. Yes, we had one day of distribution on Thursday, August 22nd, but the market was extended (as I mentioned in Wednesday’s video) and one day of profit-taking is allowed. I don’t get concerned until I see a cluster of distribution days.

From here, one of the bigger concerns is seasonality, as September is one of the weaker months of the year. I’m not complacent about this, but seasonality is secondary to the price action of the market. Of course, we will see some pullbacks and shakeouts along the way, but I’m not expecting any major decline over the near-term. The reason I’m saying this is that the price action over the past 9 days has been very strong, and my instincts are telling me that we’re about to start a new powertrend. Of course, I will take this day-by-day, but for now, the technicals are very strong and some sideways consolidation would be very healthy to digest the recent gains. As always, use the 21-day moving average as your guide and do NOT chase extended stocks. If you have any questions, you can ask them during the next webinar, which will be this Tuesday, August 27th at 7PM EST. Thank you and enjoy the rest of your weekend.

Unusual Option Activity:
8/23/24 Homebuilders ETF (XHB) buyers of 1475 Oct $123 calls at $2.30 to $2.78
8/23/24 Utilities ETF (XLU) with 14,000 Sept $77 calls sell to open at $0.80
8/23/24 Anheuser-Busch (BUD) with 850 March $62.50 puts sell to open $3.70 to $3.60
8/23/24 Sphere Entertainment (SPHR) 1500 September $509 calls buy $2.15 to $2.50
8/23/24 Booking Holdings (BKNG) massive $45M buy of 1200 Jan $3700 calls $370.80 adjusts Sept 3800
8/23/24 Disney (DIS) 1850 December $85 puts sold 2.85 bid
8/23/24 Cava Group (CAVA) seeing 1100 Oct $100 puts sell to open $2.60
8/23/24 Wells Fargo (WFC) buyer 300 April $50 calls $9.50
8/23/24 Evolent Health (EVH) sweep buyers 1200 Oct 32.50 calls $2.75 offers with multiple PE firms interested
8/23/24 Procept BioRobotics (PRCT) 2000 Sept 90 calls buy 1.45 as 1K Sep 75 take profits and keep a runner
8/23/24 Insmed (INSM) buyers coming in for 1500 Sept $82.50 calls at $3.50 to $3.60
8/23/24 Eli Lilly (LLY) sees 200 Feb $940 puts sold to open at $74 in a stock replacement, collecting $1.5M showing confidence that these levels hold into year end
8/23/24 Howmet Aerospace (HWM) buyer of 1500 Jan $110 calls $3.07
8/23/24 Arista Networks (ANET) 300 Feb $270 puts selling to open 9.60
8/23/24 Arista Networks (ANET) large buys of 300 June $350 calls at $64.50 to $65
8/23/24 Broadcom (AVGO) 2150 Oct $131 puts sell to open $1.45
8/23/24 Broadcom (AVGO) massive opening sale of 800 June $185 ITM puts at $32.60 bids, confident bull into earnings 9/5
8/23/24 Nvidia (NVDA) Sep 27th (W) $128 puts with 5000X sold in bull put spreads w/ the $115 puts
8/23/24 Nvidia (NVDA) 5000 March $105 puts being sold on bids 9.50
8/23/24 Nvidia (NVDA) also with 1000 Feb $180/$95 bull risk reversals buy at $3.40 debits
8/23/24 Meta (META) 2000 Jan $680 calls buy $10.10 offer
8/23/24 Meta (META) 1330 Oct $535 calls with buyers for $3.35M
8/23/24 Meta (META) large opening seller of 300 Dec 2026 $580 ITM puts at $126.00, collecting $3.7M
8/23/24 Palantir (PLTR) buyer 2900 Dec $36 calls $2.52
8/23/24 Oracle (ORCL) 950 Nov $130 puts sells to open $4.50
8/23/24 Oracle (ORCL) opening sales of 1250 Sept $146 calls at $3.35 bids
8/23/24 Vistra (VST) large buyer of 1400 Dec $85 calls for $9.20 to $9.90 as the Sept $75 calls adjust up and out
8/22/24 S&P 500 ETF (SPY) buyer of 18,185 Sept 6th $570 calls at $3.07 as the Aug 30th $556 calls adjust up
8/22/24 Russell 2000 ETF (IWM) with 7000 Nov $206 puts sell to open at $5.04 as the Oct $200 short puts adjust
8/22/24 Russell 2000 ETF (IWM) massive buyer of 8000 June $225 calls at $13.56 as the Sept $220 calls adjust
8/22/24 Nasdaq 100 ETF (QQQ) size opening sale 5,230 Nov $465 puts for $12.68
8/22/24 Nasdaq 100 ETF (QQQ) 50,000 March $245 puts sold to open 0.60
8/22/24 Oil ETF (USO) opening sale 5000 Sept $75 calls for $2
8/22/24 Dollar General (DG) 5000 Sep. 27th (W) $100 puts sell to open 0.91
8/22/24 Monster Beverage (MNST) with 1500 October $47 puts sell to open $1.41
8/22/24 AppLovin (APP) buyer 445 February $120 calls $5.30 offer
8/22/24 Sweetgreen (SG) 1000 Oct $35 puts sell for $2.75 to buy 1000 Nov $37 calls at $4.75
8/22/24 Sweetgreen (SG) buyer of 875 Oct $46 calls at $0.75
8/22/24 LPL Financial (LPLA) 450 October $220 puts sold to open for $9
8/22/24 KKR (KKR) opening seller 800 October $120 puts $5.20
8/22/24 AmEx (AXP) buyers of 550 Dec 2026 $370 calls at $13.65 as Jan 2026 $320 calls adjust
8/22/24 Gilead (GILD) 2700 Oct $80 calls are bought up to $0.95
8/22/24 Novo Nordisk (NVO) buyer 1050 Sept 27th (W) $140 calls $4.70
8/22/24 BioMarin Pharma (BMRN) opening sale of 750 Jan 2026 $90 puts at $8.50
8/22/24 3M (MMM) opening sale 1000 November $125 puts $4.60 bid
8/22/24 Vertiv (VRT) with 1000 Sept $82 calls buying at $3.30
8/22/24 Vertiv (VRT) opening sale of 2400 Dec $115 calls at $2.10 bids
8/22/24 Rocket Labs (RKLB) 3000 October $4 calls bought ITM $3.10 to $3.20
8/22/24 Meta (META) buyers 3000 next week $550 calls early $4.60 to $4.70
8/22/24 Meta (META) also massive buys 3500 Nov $600 calls $20.50 to $21.90
8/22/24 Synopsys (SNPS) 465 October 500 puts sell to open 6.40 bid
8/22/24 Cloudflare (NET) large opening sale 5000 March $60 puts 2.61
8/22/24 NetApp (NTAP) buyer 500 Oct $130 puts $5.20 to $5.40, reports next week
8/22/24 Oracle (ORCL) 900 Sept 133 puts sell to open 3.15 bids
8/22/24 Nvidia (NVDA) sees 1900 Sept 13th $130 puts sell to open at $9.76 as the Sept 6th $110 short puts adjust
8/22/24 Nvidia (NVDA) 800 August 2025 $145 calls bought for over $1.6M
8/22/24 Workday (WDAY) opening sale 250 Nov $250 ITM puts $24.40, confident bet into earnings