Topics covered:
1) 0:00 Announcements
2) 0:15 Market Commentary and Index Review (Nasdaq Composite, S&P 500, and Russell 2000)
3) 5:00 FOCUS LIST: NVDA, LLY, MSFT, ISRG, META
4) 8:10 Stock Review – Software: IGV (ETF), NOW, PANW, CYBR, CHKP, CVLT, VRNS, APP
5) 10:05 Stock Review – Semiconductors: SMH (ETF), AVGO, TSM, MPWR
6) 11:35 Stock Review – Biotech/Medical Products: XBI (ETF), TMDX, HALO, MMSI, NTRA, NVCR, PRCT
7) 13:35 Stock Review – Others/General Ideas/Commentary: NFLX, ASTS, RKLB, LUNR, CWAN, SFM, PLTR, ONON, CAVA, FTAI, HWM, GE, SPOT, COHR, DECK, SBUX
8) 19:15 Stocks Near Buyable Ranges: XBI (ETF), META
9) 21:00 Conclusion/Summary

Market Summary:
We saw a strong move off the lows in Nasdaq Composite, and last week on Wednesday, August 21, I mentioned that the index was 3.1% extended from its 21-day EMA. As a reminder. when the Nasdaq Comp gets about 3-4% extended from this level, it usually sees a consolidation through price or through time. Since then, we’ve seen a pullback through price, as the index came down to is 21-day over the past 5 trading sessions. The negative is that we’ve had two distribution days over the past five trading days (8/22 and 8/28). It’s a reason to get a little defensive here until we get more clarity. The biggest positive is that, outside of tech, the rest of the market is showing incredible strength, as seen in the SPY, IWM, and MDY.

From here, I would like to see the market’s reaction to NVDA’s earnings over the next few trading days. As I always say, it’s not the news, it’s the market’s reaction to the news. At the time of this summary, NVDA is down approximately 7% afterhours. I would like to see how the stock and the overall Nasdaq react by the end of the week. If things break down considerably, then I will reduce exposure. If the market continues to prove its strength, then I will stick to my positions. As always, what you decide to do depends on your overall investment plan, timeframe, and risk tolerance. Again, I don’t want to get overly negative, but I will likely lean defensive into the end of the week until we get more clarity. Thank you and good luck for the remainder of the week.

Unusual Option Activity:
8/28/24 S&P 500 ETF (SPY) massive trade sells to open 36,000 June $455 puts at $6.36
8/28/24 S&P 500 ETF (SPY) also sells 22k March $505 puts at $8.48 while buying 13k of the $450 in partial bull put spreads
8/28/24 Nasdaq 100 ETF (QQQ) seeing buyers of 4500 Sept $473 calls at $10.37 to $10.58
8/28/24 Healthcare ETF (XLV) with 3600 Oct $160 calls sold to open $1.24 as Sept $155 short calls adjust
8/28/24 Homebuilders ETF (XHB) buyer 1000 Oct $115 calls $5.85 offer
8/28/24 Rivian (RIVN) with large buyers of 2750 Sept 2025 $12.50 ITM calls at $4.35 to $4.40 in large lots
8/28/24 Uber (UBER) 4500 Oct 4th (W) $64 puts sell to open 0.51
8/28/24 Uber (UBER) large opening seller of 2300 Dec 2026 $50 puts at $4.75 as the Jan short puts adjust
8/28/24 Coinbase (COIN) buyer 500 Nov $195 calls $1.35M
8/28/24 Exact Sciences (EXAS) with 500 ITM Jan $62.50 puts sold to open $7.05
8/28/24 Otis Worldwide (OTIS) 1685 Dec $85 puts sell to open 1.16
8/28/24 Kratos Defense (KTOS) unusual buyer of 500 Feb $22.50 calls at $2.85
8/28/24 Micron (MU) 750 Sept 2025 70 puts sell to open 5.70
8/28/24 Broadcom (AVGO) 800 April $130 puts sell to open for $7.50
8/28/24 Apple (AAPL) with 5800 March $205 puts sold to open at $6.05 to $6.10
8/28/24 Dell (DELL) 1275 Sept 2025 $65 puts sell to open 3.70
8/28/24 Arm Holdings (ARM) large opening sale 1000 Feb $110 puts for $14.05
8/28/24 Vertiv (VRT) 1300 December $60 puts sold to open $2.45
8/27/24 Equal Weight S&P 500 ETF (RSP) 1500 Dec $175 calls bought $ 6.06 as Sept adjust
8/27/24 Nasdaq 100 ETF (QQQ) size buys in Sept $476 calls $10.84 to $11 with 2500 trading
8/27/24 Ultra Nasdaq ETF (TQQQ) sees 1000 Jan 2026 $65 puts sell to open $15.47
8/27/24 Financials ETF (XLF) with 40,000 June $45 calls sell to open $3.08 as Jan $43 short calls adjust
8/27/24 Energy ETF (XLE) 1250 Sept 2025 $96 puts sell to open $9.70
8/27/24 Semiconductors ETF (SMH) 1500 Jan $215 puts sell to open $9.27
8/27/24 Costco (COST) buyers of 2000 Oct $1050 calls and 1075 Dec $1100 calls being bought aggressively as well
8/27/24 Walmart (WMT) 1825 January $76.67 puts sold to open $3.05 bids
8/27/24 Tesla (TSLA) opening sale of 660 April $170 puts at $14.30
8/27/24 Tesla (TSLA) also with 600 April $160 puts sold to open $11.30
8/27/24 Starbucks (SBUX) with 1030 Sept $100 ITM puts selling to open at $3.75 bids
8/27/24 Live Nation (LYV) with 800 Oct $92.50 puts sell to open $1.82
8/27/24 Home Depot (HD) sees 1500 Nov $410 calls sell to open $3.75 bids
8/27/24 Wynn Resorts (WYNN) opening sellers 1175 Dec $75 puts $3.85 to $3.80
8/27/24 National Oilwell (NOV) 2000 Jan 2026 $25 calls bought $1.10
8/27/24 Chevron (CVX) opening sale of 3300 Dec $165 calls at $1.39 bids
8/27/24 Goldman Sachs (GS) opening sale 150 June 2025 $570 puts $76
8/27/24 Glaxo (GSK) buyer 1200 February $46 calls $1.40 offer
8/27/24 Viking Therapeutics (VKTX) opening sale of 4700 Oct $95 calls at $1.60 to $1.35
8/27/24 Procept BioRobotics (PRCT) buyers of 450 April $50 deep ITM calls for $36 to $36.50
8/27/24 Krystal Biotech (KRYS) opening sales 1375 Oct $210 calls $8
8/27/24 On Semi (ON) 8200 Sept 27th (W) $63 puts sell to open 0.52
8/27/24 On Semi (ON) 400 Jan 2026 $95 calls sell to open $9.85
8/27/24 Microsoft (MSFT) 1K Oct 4th (W) $390 puts sell to open 3.70 to 3.65
8/27/24 Nvidia (NVDA) buyer 1450 Oct. 4th (W) $128 calls $10.40 to $10.90
8/27/24 Nvidia (NVDA) seeing 2000 Oct 4th $120 puts sell to open $7.00 as the Sept 6th short puts adjust
8/27/24 Nvidia (NVDA) also 2500 April $90 puts sell to open at $5.27 as the March $100 short puts adjust
8/27/24 Advanced Micro (AMD) 300 April $130 puts sell to open for 11.20
8/27/24 Amazon (AMZN) 775 April $150 puts selling to open $6.25
8/27/24 Coherent (COHR) opening seller 700 Dec $80 calls 8.80 to 8.70
8/27/24 Constellation Energy (CEG) 2250 Oct $165 puts sell to open 2.05 to 2
8/27/24 Vistra (VST) large trades buying 3000 Jan $100/$150 call spreads at $5.40
8/26/24 Nasdaq 100 ETF (QQQ) 1250 Dec 2025 $529.78 calls sold to open $30.05
8/26/24 Russell 2000 ETF (IWM) sees 4000 Sept 13th $228 calls bought at $2.25, adjusting Sept 6th $221 calls
8/26/24 Semiconductor Bull 3X ETF (SOXL) sees 2000 Oct $30 ITM calls buying $9.90 to $10.30
8/26/24 Regional Banks ETF (KRE) sees 4000 Jan $58 puts sell to open at $4.17 as $50 short puts adjust up
8/26/24 Tesla (TSLA) 1450 Feb $215 calls bought $33.11
8/26/24 DoorDash (DASH) buyer 1000 Nov $140 calls $5.70
8/26/24 Papa John’s (PZZA) seeing Jan $60 calls bought 3000X at $2.67 as some $55 calls adjust
8/26/24 Novo Nordisk (NVO) 1075 Sept 6th (W) $135 calls bought $3.10 to $3.25
8/26/24 J&J (JNJ) large opening seller of 750 June 2026 $160 puts for $12.10
8/26/24 Crispr Therapeutics (CRSP) 1000 Oct 45 puts sell to open 1.90
8/26/24 Toll Brothers (TOL) buyer 500 March $170 calls $8.40
8/26/24 Caterpillar (CAT) buyer 500 October $370 calls $6.20
8/26/24 Nvidia (NVDA) buyers of 1800 November $143 calls at $10.05 to $10.30
8/26/24 Nvidia (NVDA) 1000 Sept 27th (W) $132 puts selling to open $11.55 and $10.85
8/26/24 Nvidia (NVDA) 400 March $134 puts sell to open 22.65
8/26/24 Micron (MU) buyers of 3500 December $135 calls $3.30 offers
8/26/24 Taiwan Semi (TSM) 3500 Oct 4th (W) $145 puts sell to open 1.61
8/26/24 Cadence Design (CDNS) 1000 October $235 puts sell to open $2.96
8/26/24 Advanced Micro (AMD) another massive put sale with 3000 Jan 2026 $150 puts sell to open $27.25, similar to late Friday June put sales