MidWeek Video 10/16/24

Topics covered:
1) 0:00 Announcements
2) 0:15 Market Commentary and Index Review (Nasdaq Composite, S&P 500, and Russell 2000)
3) 5:20 FOCUS LIST: NVDA, LLY, MSFT, ISRG, META, ONON, VRT, AVGO, TSM
4) 9:10 Stock Review – Software: IGV (ETF), NOW, ORCL, PANW, CHKP, FTNT, CVLT, GWRE, APP, DOCS
5) 12:00 Stock Review – Semiconductors: SMH (ETF), PI, ARM, AMSC
6) 13:35 Stock Review – Biotech/Medical Products: XBI (ETF) TARS, CRNX, APGE, VKTX, NTRA, UTHR
7) 16:00 Stock Review – Others/General Ideas/Commentary: WIX (write up below), NFLX, TSLA, UBER, COHR, CLS, FOUR, ASTS, LUNR, CRMD, CWAN, SFM, CAVA, TXRH, FTAI, HWM, GE, SPOT, PLTR, NEE, NRG, CEG, VST, UPST, AFRM, AXON, TGLS, MSTR, DECK, YOU, DY
8) 21:55 Possible High Tight Flags: RKLB (write-up under the 10/5 video), GDS, PCT, AXGN
9) 23:25 Stocks Near Buyable Ranges: LLY, SG
10) 24:20 Conclusion/Summary

Market Summary:
As I’ve discussed over the past few weeks, we’re in a bull market. Don’t overcomplicate things and don’t overthink things. Remember the main guidelines during power trends: 1) Use the 21-day as your guide. In other words, if we are extended from this level, don’t be surprised to see minor pullbacks through price or through time. 2) Expose yourself to strong stocks and ETFs. I present plenty of ideas in these videos. 3) Get strong entry points near the 21-day and 50-day moving averages. 4) Stick to your stops. Just because it’s a bull market, it doesn’t mean EVERY trade is going to work. You still have to manage risk. 5) Manage your trades as best as possible based on your timeframe. I can give guidelines, but ultimately, you need to decide what position sizes to use, the number of positions to own, and when to take profits.

I’m not expecting any significant downside during Q4 because the Fed is on our side, the seasonality is favorable, and the price action in many stocks is very strong. Does that mean we will go straight up every day? OF COURSE NOT!!! We will still see normal pullbacks and shakeouts along the way, but again, getting strong entry points can help you deal with the normal volatility along the way. As always, I will be open-minded and continue to update you in these videos. Thank you and good luck for the remainder of the week.

Unusual Option Activity:
10/16/24 Russell 2000 ETF (IWM) buyer 5000 Nov $227 calls $6.67 with Oct 216 adjusting out and up
10/16/24 Software ETF (IGV) block 4000 Jan $98 calls bought $1.58
10/16/24 Silver ETF (SLV) buyers of 1000 Jan 2027 $30 calls at $6.54
10/16/24 Tesla (TSLA) 1300 Feb $155 puts sell to open $4
10/16/24 Tesla (TSLA) sees sweep buyers for 500 April $265 calls at $19 offers
10/16/24 Uber (UBER) 7700 Nov 22nd (W) $69 puts sell to open 0.61
10/16/24 PDD Holdings (PDD) 600 May $120 puts sold to open $11.80, buyer of 500 Jan 2026 $185 calls
10/16/24 Marathon Petro (MPC) opening sale of 500 Feb $160 calls at $11, common theme in the refiners
10/16/24 Nasdaq (NDAQ) 1795 Nov $72.50 calls bought $2.65 offer
10/16/24 Coinbase (COIN) buyer 500 Nov 22nd (W) $240 calls 12.75 offer
10/16/24 Visa (V) 12,500 Nov 1st (W) $300 calls sold to open
10/16/24 Edgewise Therapeutics (EWTX) 1000 Feb 22.50 puts sell to open $1
10/16/24 Edgewise Therapeutics (EWTX) also seeing sellers 1000 Nov $35 puts
10/16/24 Capricor Therapeutics (CAPR) seeing 1000 deep ITM June $5 calls bought $14.70 to $15.50
10/16/24 Pfizer (PFE) buyer 1000 Jan 2027 $35 calls $2.31 offer
10/16/24 Fluor (FLR) even more bull flow as 2000 April $57.5 calls are bought $3.77
10/16/24 Fluor (FLR) also 10k Nov 57.5 calls bought
10/16/24 Fluor (FLR) also 2000 max strike Jan 2026 $75 calls bought $3.20
10/16/24 Fluor (FLR) 6000 March $55 calls bought $5.83 with $50 strike adjusting higher
10/16/24 Nvidia (NVDA) with 2800 Nov 8th $138 puts sell to open $10.27 as the Nov 1st $125 short puts adjust
10/16/24 Nvidia (NVDA) buyer 1050 May $155 calls bought $14.69
10/16/24 Advanced Micro (AMD) 1300 Nov 1st (W) $167.5 calls bought $4.50
10/16/24 Advanced Micro (AMD) buyer 450 Dec 2026 $240 calls $25.20
10/16/24 Advanced Micro (AMD) opening seller 800 Nov 29th (W) $145 puts 5.65 bid
10/16/24 Meta (META) 1150 Nov 22nd (W) $490 puts sell to open $5.21
10/16/24 Baidu (BIDU) seeing 2475 June $75 ITM calls bought for $6M
10/16/24 DataDog (DDOG) 400 Jan 2026 $125 puts sell to open $19.95 as well as 400 of the $145 calls sold $17.15
10/16/24 DataDog (DDOG) 5000 Nov $100 puts sell to open 0.73
10/16/24 Microsoft (MSFT) sluggish again but seeing buyers of 550 Feb $415 calls at $27 to $28.35
10/16/24 Taiwan Semi (TSM) another 2000 March $180 calls buying for $5M, looking to add to yesterday buys
10/16/24 Micron (MU) sees a buyer of 3000 March $145 calls at $3.95 as Dec $125 calls adjust
10/16/24 NextEra Energy (NEE) buyers of 550 Sept 2025 $87.50 calls up to $7.75 offers
10/15/24 Russell 2000 ETF (IWM) buyers of 4200 Nov 8th $230 calls at $3.33, and $235 calls at $1.89 over 5000x
10/15/24 Gold ETF (GLD) buyers of 2000 Nov 22nd $252 calls at $2.79 offer
10/15/24 Gold Miners ETF (GDX) buyers of 1050 March $36 ITM calls at $5.80
10/15/24 Biotech ETF (XBI) large buyers of 5000 Nov $101 calls for $2.32
10/15/24 China A Shares ETF (ASHR) buyers of 7500 April $30 calls at $1.45 as $33 calls adjust
10/15/24 2X Bitcoin ETF (BITX) buyer 5000 Nov $37 calls 2.05 to 2.10
10/15/24 Financials ETF (XLF) 5000 Nov 8th (W) $47 puts sell to open 0.77
10/15/24 Semiconductors ETF (SMH) buyer of 4000 June $220 calls for $48.17 as the Dec $200 calls adjust
10/15/24 Tesla (TSLA) 1200 May $160 puts sell to open $8.35
10/15/24 Tesla (TSLA) 500 May $220 puts sold to open $32.55 to $32.40
10/15/24 Tesla (TSLA) seller to open 500 Nov 29th (W) $220 puts for $15.30
10/15/24 JD.com (JD) 2350 Nov $39 puts sell to open 1.55
10/15/24 Home Depot (HD) buyers of 210 Jan 2027 $460 calls at $47.70 offers
10/15/24 Home Depot (HD) 250 Jan 2026 $430 puts sell to open $42.90
10/15/24 Sphere Entertainment (SPHR) buyer of 1500 Jan $50 calls at $4.58, adjusting Nov $45 calls
10/15/24 Marathon Petro (MPC) 500 March $155 puts sell to open $11
10/15/24 Range Resources (RRC) buyer 2375 March $33 calls $1.70 offer
10/15/24 Conoco (COP) opening sale 500 Jan 2027 $90 puts for 8.55
10/15/24 MicroStrategy (MSTR) buyers of 2000 Nov $220 calls at $20.85 to $21 in large lots
10/15/24 Robinhood (HOOD) opening sellers of 2300 Jan 2026 $25 puts for $5.40 bids
10/15/24 Coinbase (COIN) large call premium with 2000 Jan 2026 $180 buyers, and buyers of 3850 Dec 2025 $195 calls for $24.5M
10/15/24 Affirm (AFRM) 550 February $45 puts sell to open 6.70 to 6.50
10/15/24 Wells Fargo (WFC) bull flow selling 450 March ITM $70 puts at $8.40 bids
10/15/24 Caterpillar (CAT) 450 Dec $370 puts sold to open 9.60
10/15/24 GE Aerospace (GE) with 800 March $180 puts sell to open $11
10/15/24 CrowdStrike (CRWD) 2150 Nov 29th (W) $255 puts sell to open 2.83
10/15/24 Crowdstrike (CRWD) opening sale of 400 Feb $300 puts for $26.75
10/15/24 Advanced Micro (AMD) 4150 Nov 22nd (W) $130 puts sell to open 1.50
10/15/24 Nvidia (NVDA) buyer 163,000 Dec $125 calls $16.65 adjusting 144,000 of the $110 calls
10/15/24 Nvidia (NVDA) 5000 Nov 1st (W) $134 calls bought $5.10
10/15/24 Nvidia 2X ETF (NVDL) into the dip sees big afternoon buy 4000 Dec $60 calls $15.40
10/15/24 Oracle (ORCL) buyers of 1050 Nov 29th $165 ITM calls, adjusts Oct $160 calls
10/15/24 Palo Alto (PANW) 350 December $390 puts sold to open $31.70
10/15/24 Marvell Tech (MRVL) sees large bulls opening 5000 Dec $85/$72.50 bull risk reversals for $1.35 debit
10/15/24 Palantir (PLTR) buyers of 1800 April $48 calls at $4.95 offers
10/15/24 Lam Research (LRCX) into selloff sees opening sellers of 3700 Sept 2025 $67 puts at $7 to 6.95
10/15/24 Constellation Energy (CEG) 2500 Nov 22nd (W) $215 puts sell to open 2.30
10/15/24 Vistra (VST) bull risk reversal bought 500 April $170 calls and sold the $120 puts for a credit of $6.20
10/15/24 Vistra (VST) 1000 Dec 115 calls adjusting to Jan 130 calls
10/15/24 Intuitive Machines (LUNR) 2500 next week $7 calls unusually active
10/14/24 Nasdaq 100 ETF (QQQ) early buyers of 4450 Nov 1st $503 calls at $6.15 to $6.24
10/14/24 Nasdaq 100 ETF (QQQ) also opening sales of 3500 Jan $435 puts at $4.60 bids
10/14/24 Semiconductors ETF (SMH) opening sales of 5000 Nov $245 puts for $4.80 bids
10/14/24 2x Bitcoin ETF (BITX) buyer 1000 Nov 8th $27 calls $5.30
10/14/24 Monster Beverage (MNST) opening sales of 4900 Nov $52.50 calls $1.60 to $1.50
10/14/24 Tyson Foods (TSN) 1600 December $60 calls bought around $2.50 to $2.55
10/14/24 On Holding (ONON) 500 June $45 puts sold to open $4.55
10/14/24 Roblox (RBLX) 2000 Jan $42.50 calls bought $3.65 offers
10/14/24 Uber (UBER) sees 8000 Nov 8th $71 puts sold to open at $0.49 to $0.50, reports 10/31
10/14/24 Home Depot (HD) 1425 November 1st (W) $420 calls sell to open $4.40 to $4
10/14/24 AppLovin (APP) despite Goldman downgrade sees buyers in January $195 and $200 calls 400X each
10/14/24 AppLovin (APP) size buy 1400 March $180 calls $11.20, reports 11-6
10/14/24 Wynn Resorts (WYNN) 500 March $120/$97.5 bull risk reversals open for a credit of $1.35
10/14/24 PDD Holdings (PDD) opening sale 1000 Sept $135 puts for 20.60 to 20.50
10/14/24 MicroStrategy (MSTR) buyers of 1400 Nov $235 calls and $240 calls, also buyers in the $285 calls at $12.20
10/14/24 Coinbase (COIN) large buys 4150 Nov 1st (W) $190 calls $8.70 to $9+
10/14/24 Coinbase (COIN) buyers of 900 Jan 2026 $180 calls at $60 up to $63.75, over $5.5M
10/14/24 Coinbase (COIN) massive buyer of 39,065 Dec $190 calls at $27.45 as the $165 calls adjust higher
10/14/24 Affirm (AFRM) buyers of 2900 June 2025 $47.50 calls for $3.9M
10/14/24 Affirm (AFRM) buyers for over 5k Nov 1st $50 calls at $1.85 up to $2.90
10/14/24 Affirm (AFRM) buyers of 7000 Jan $42.50 ITM calls at $11.50 to $11.95
10/14/24 Affirm (AFRM) seeing over 15k Jan $75 calls buying at $1.63 to $1.97 and buyers of 3000 Dec $52.50 calls at $5.65 offers
10/14/24 LPL Financial (LPLA) bull flow with 1200 Nov $270 calls bought 4.40 to 4.70
10/14/24 Insmed (INSM) 500 Nov $75 calls buy for $290K
10/14/24 Amgen (AMGN) large buyers of 540 March $330 calls at $24.03, adjusting Oct calls
10/14/24 Corvus Pharma (CRVS) aggressive buy 1050 January $8 calls $1.60, a $420M Biotech
10/14/24 DR Horton (DHI) buyers of 1100 Oct 25th $182.50 ITM calls for $4.90 to $5.10
10/14/24 Modine Manufacturing (MOD) Nov $140 calls bought 1000X $9.45 as Oct $130 calls roll again
10/14/24 Alibaba (BABA) sees 5000 Dec $100 puts sell on $3.95 bid
10/14/24 Alibaba (BABA) 300 Sept $105 puts sell to open 11.50
10/14/24 Nvidia (NVDA) Nov 1st (W) $141 calls hot with 8250X bought
10/14/24 Nvidia (NVDA) 2100 March $154 calls bought $14.90
10/14/24 CrowdStrike (CRWD) opening sale 2050 Nov 29th (W) $260 puts at $3
10/14/24 Qualcomm (QCOM) 1775 November $175 calls bought near $8.90
10/14/24 Arm Holdings (ARM) buyer 500 max strike March $230 calls $9.25 offer
10/14/24 Taiwan Semi (TSM) buyer 500 August 2025 $200 calls for $26.15
10/14/24 Palantir (PLTR) 1485 April $43 calls sell to open 7.30
10/14/24 Broadcom (AVGO) with 1000 Sept 2025 $175 puts selling to open 20.80 to 20.70
10/14/24 Broadcom (AVGO) opening sale of 1150 Dec $192 calls at $9.66 in a single block
10/14/24 Microsoft (MSFT) buyers of 13k Dec $450/$470 call spreads for $4.18
10/14/24 Microsoft (MSFT) also seeing buyers 9000 Dec $440/$460 call spreads bought at $5.62
10/14/24 Dell (DELL) 4900 June $80 puts sell to open 2.28
10/14/24 Vertiv (VRT) buyers of 1100 Dec $130 calls at $5.70

OptionsHawk write-up on WIX from 9/17/24
Wix (WIX) last week saw 2850 March $160/$195 call spreads buy to open, positioning for new highs and more upside in a name that has climbed 67% over the past year. WIX also still has 2000 November $160 calls bought in open interest against the $200 calls and September $145 calls set to exercise or adjust this week 2000X while October $135 and $140 calls 1000X each now firmly ITM. WIX dipped with the market in early August filling a large gap and been consolidating the big move from May, a flag looking to clear $170 and target a move to $200. WIX is a leading, global, web development platform for millions of creators with approximately 263 million registered users worldwide. The Wix Editor is a drag-and-drop visual development and website editing environment complete with high quality templates, graphics, image galleries and fonts. Wix Studio is a unified website and application development platform that enables the creation of advanced websites at scale. WIX has also been leveraging AI to improve user experience. Wix also offers payment services, ad services and more through the Wix Marketplace. WIX has a market cap of $8.7B and trades 22.5X Earnings, 21.5X EBITDA, 4.8X EV/Sales and 28.65X FCF with revenues seen rising 10-15% annually through FY26 with 18-20% annual EPS growth, a strong growth name at attractive valuation. WIX valuation is the cheapest it has ever been with profitability at record highs. Bookings growth was the bright spot last quarter with acceleration to 15% YoY from 10% in Q1 and ahead of Street’s 12% forecast. WIX has benefited from commerce platform expansion and positive responses to price increases implemented this year. Wix released 17 AI business assistants this year for a wide range of use cases including domain name generation, email subject line writing, producing blog post ideas. Analysts have an average target of $189 and short interest is low at 2.8% of the float. Cantor started shares Overweight with a $200 target recently on accelerated rollout of product enhancements and plenty of room for further margin improvement. Benchmark raised its target to $225 on the revenue mix-shift to Partners.