Topics covered:
1) 0:00 Announcements
2) 0:30 Market Commentary and Index Review (Nasdaq Composite, S&P 500, and Russell 2000)
3) 7:55 FOCUS LIST: NVDA, LLY, MSFT, ISRG, META, ONON, VRT, AVGO, TSM
4) 12:35 Stock Review – Software: IGV (ETF), NOW, ORCL, PANW, CHKP, FTNT, GWRE, APP, DOCS
5) 14:30 Stock Review – Semiconductors: SMH (ETF), PI, ARM
6) 15:25 Stock Review – Biotech/Medical Products: XBI (ETF) TARS, CRNX, VKTX, UTHR
7) 16:50 Stock Review – Others/General Ideas/Commentary: WIX, NFLX, UBER, COHR, CLS, FOUR, ASTS, RKLB, LUNR, SFM, SG, CAVA, TXRH, FTAI, HWM, GE, SPOT, PLTR, NEE, NRG, CEG, VST, GDS, PCT, AXGN
8) 22:55 Conclusion/Summary

Market Summary:
I view Wednesday’s price action as a normal pullback to the 21-day moving average. As I’ve said many times, I’m not complacent, I just have stronger conviction than most people that we are in a bull market. Are we going to go up EVERY DAY? OF COURSE NOT! That’s why I’ve been saying to use the 21-day as your guide. In other words, when we get a little extended from it, as we have recently, don’t be surprised to see pullbacks like the one we had on Wednesday. I view it as “normal” because we held above that key support level, the volume was light, and many of the leaders continue to consolidate well.

From here, I think the market we be in a range until the election. After the election, I feel we will continue to the upside because the uncertainty of the event will be behind us. Also, with the expected split Congress, the market is likely to finish the year strong as it tends to like gridlock. As always, I will remain open-minded and update you in these videos if there’s a major change in my views. If you have any questions, you can ask them during the next LIVE webinar, which will be this Saturday, October 26th at 11AM EST. Thank you and good luck for the remainder of the week.

Unusual Option Activity:
10/23/24 Nasdaq 100 ETF (QQQ) with 1700 Jan 31st $510 calls buying at $12.05 to $12.20 into the midday lows
10/23/24 Russell 2000 ETF (IWM) seeing 8000 Nov 1st $217 puts sell to open at $2.04 to buy 8k of the $228 calls at $0.50
10/23/24 Dow Jones ETF (DIA) large buyer for 1000 Dec 2026 $420/$500 call spreads at $39.35
10/23/24 Japan ETF (EWJ) 5000 December $67 calls buy $2.25 to open
10/23/24 Ultra Silver ETF (AGQ) buyers of 1300 March $55 calls at $6.00 to $6.10
10/23/24 Gold Miners ETF (GDX) large buyers of 9900 Sept 2025 $45 calls at $4.95 as the Jan $34 calls adjust
10/23/24 Junior Gold Miners ETF (GDXJ) buyers of 4500 Feb $48 calls at $8
10/23/24 Philip Morris (PM) 1650 Jan $135 calls sell to open 3.11
10/23/24 Coca Cola (KO) 10,000 Dec $65 puts sell to open for 0.76
10/23/24 On Holding (ONON) 600 June $40 puts sell to open 3.05 to 3
10/23/24 Tesla (TSLA) into earnings sees 2500 Jan 2026 $190 puts sell to open at $29.75 to buy 2500 of the $380 calls at $15.84, net credit of $13.91 for the bull risk reversals, willing to own it at 190 like many recent put sales
10/23/24 Roblox (RBLX) opening seller 1000 April $40 puts $4.45
10/23/24 Starbucks (SBUX) buyer 1000 April $100 calls for $6.55 offer
10/23/24 Uber (UBER) 8000 December 67.50 puts sold to open 1.01
10/23/24 Chewy (CHWY) 1500 June $25 puts sell to open for $3.36
10/23/24 Walmart (WMT) 1200 Sept 2025 $72.50 puts sell to open at $2.59
10/23/24 Halliburton (HAL) 2500 April $25 puts sell to open for 1.37
10/23/24 MicroStrategy (MSTR) opening sales of 1500 Nov 29th $220 puts for $26.35 to $25.55
10/23/24 MicroStrategy (MSTR) also seeing buyers of 1200 Dec $160 deep ITM calls for $70 to $71.85
10/23/24 Coinbase (COIN) buyers of 1800 Dec $420 calls at $1.32 to $1.52
10/23/24 PayPal (PYPL) 1000 Nov 8th (W) $81 puts sell to open $3.75, earnings 10-29
10/23/24 Berkshire Hathaway (BRK.B) large trade sold 300 Sept $430 puts to open 14.40
10/23/24 Robinhood (HOOD) another one of those deep ITM put sales, 300 Sept $35 sold for $10.75
10/23/24 Goldman Sachs (GS) large opening sellers of 2000 March $490 puts for $20 to $19.75
10/23/24 Recursion Pharma (RXRX) 2800 Jan 2027 $5 calls bought ITM $4.20 offer looking to add to recent buys
10/23/24 J&J (JNJ) unusual buy 10,000 Nov $170 calls 0.57 to 0.59
10/23/24 GlaxoSmithKline (GSK) rare massive buy 25,000 Jan 2026 $40 calls $2.75
10/23/24 Intuitive Surgical (ISRG) unusual buy 3,093 Nov $550 calls for $1.50
10/23/24 Merck (MRK) buyer 4750 Dec $110/$115 call spreads for $1.63
10/23/24 Amgen (AMGN) with 5000 Nov $180 puts sell to open $2.86 to $2.81
10/23/24 Novo Nordisk (NVO) 300 Jan 2027 $110 puts sold to open $14.90
10/23/24 Rocket Labs (RKLB) 3000 Dec $11 calls opening $1.68 with rolls of Nov. 8th (W) 9.50 calls
10/23/24 Tecnoglass (TGLS) 950 May $75 calls bought $8.50
10/23/24 Caterpillar (CAT) 5000 Dec $340 puts sold to open $3.85
10/23/24 Nvidia (NVDA) sees 5000 Nov 29th $106 puts sell to open $1.05
10/23/24 Nvidia (NVDA) sees a buyer of 3000 Feb $139/$159 call spreads for $8.03
10/23/24 Nvidia (NVDA) buyers for 1000 Sept 2025 $160 calls at $22.80 to $23.40
10/23/24 Nvidia (NVDA) also with 2000 Nov $133 ITM calls buying $11.60
10/23/24 CrowdStrike (CRWD) large opening sellers of 1300 Nov 29th $310 ITM puts at $19.50 to $19, earnings 11/26
10/23/24 Apple (AAPL) 20,000 Feb $265 calls buying $3.30 as Nov $245 adjust
10/23/24 Apple (AAPL) buyer 5000 Nov 29th (W) $245 calls $3.40 and sells 2450 of the $210 puts at $1
10/23/24 Microsoft (MSFT) 12,000 Feb $470 calls bought for $14.5M
10/23/24 Broadcom (AVGO) seeing 11,000 Dec $140 puts sell to open 1.81 to 1.73
10/23/24 Broadcom (AVGO) 500 Feb $175 puts sold to open 16.10
10/23/24 ServiceNow (NOW) 450 Dec $780 puts sold to open 10.20
10/23/24 DataDog (DDOG) 2000 Dec $140/$100 bull risk reversals open for $1.33
10/23/24 Advanced Micro (AMD) 500 Sept $140 puts sold to open $17.05
10/23/24 Qualcomm (QCOM) 750 Sept $190 puts sell to open in large trade at $36.70
10/23/24 Snowflake (SNOW) 500 Sept $110 puts sell to open $17.15 to $17.10
10/23/24 EPAM Systems (EPAM) 825 April $150 puts selling to open $4.90
10/23/24 Google (GOOG) large opening sale 500 Dec 2026 $170 puts for 24.65
10/23/24 Digital Realty (DLR) sees 5k Dec $150 puts sell to open $1.65 as Nov short puts adjust
10/23/24 American Tower (AMT) 340 Dec $230 puts sell to open $10
10/22/24 S&P Equal Weight ETF (RSP) trade sells 2000 June $170 puts to open $4.45 showing long-term confidence in the bull market
10/22/24 Gold ETF (GLD) buyer of 2250 Jan $258 calls at $6.91 as some $250 calls adjust up
10/22/24 Homebuilders ETF (ITB) buyer of 4000 Nov $122.50 puts at $4.50 to $4.60 as $125 puts adjust
10/22/24 ELF Beauty (ELF) with 850 Dec $85 puts sell to open $4.10 bids
10/22/24 Philip Morris (PM) block 1200 Dec $130 calls bought $4.30
10/22/24 Celsius Holdings (CELH) 1100 April $42.50 calls sell to open $3.31
10/22/24 Walmart (WMT) sees 1700 June $73.33 puts sell to open at $2.32
10/22/24 Walmart (WMT) also 500 March 82.50 puts sold to open $4.40
10/22/24 Chipotle (CMG) 8500 Nov $50 puts sold to open 0.30
10/22/24 Maplebear (CART) June $35 ITM calls being bought 1700X at $12.40
10/22/24 Schlumberger (SLB) size buyer 4700 Jan 2027 $65 calls $2.50
10/22/24 Schlumberger (SLB) 2500 March $47.5/$40 bull risk reversals trade for a $0.90 credit
10/22/24 Chevron (CVX) buyers of 12,000 Jan $170 calls at $1.14 to $1.16 offers in big blocks, reports next week
10/22/24 Morgan Stanley (MS) trade opens 1000 March $130/$110 bull risk reversals at $0.84 credit
10/22/24 Discover Financial (DFS) with 1975 Nov 8th $152.50 calls buying at $4.40
10/22/24 PayPal (PYPL) size opening sale 1000 Sept $75 puts for $7.10
10/22/24 Viking Therapeutics (VKTX) seeing 3250 Jan $90 calls sell to open 4.10 to 3.90
10/22/24 Vertiv (VRT) trading 1500 Jan 2026 $100/$75 bull risk reversals
10/22/24 Lam Research (LRCX) 1000 June $59 puts sold to open 4.15 bids
10/22/24 Lam Research (LRCX) also seeing 500 June $62 puts sell to open $4.95 bids
10/22/24 Astera Labs (ALAB) 1600 April $55 puts sold to open $6.20 to $6.10
10/22/24 Taiwan Semi (TSM) spread buys 3000 Sept $260 calls $12.35 and sells 6000 of the $145 puts $6.70
10/22/24 Microsoft (MSFT) buyer of 1750 Dec $435/$465 call spreads
10/22/24 Qualcomm (QCOM) 1750 Nov $187.5 calls bought $3.05 offers
10/22/24 Workday (WDAY) large opening sellers of 395 March $250 ITM puts at $21.30
10/21/24 Nasdaq 100 ETF (QQQ) buyer of 2500 Nov 1st $502 calls $3.35
10/21/24 S&P 500 ETF (SPY) buyers of 1600 Dec $582 calls at $16.48
10/21/24 Homebuilders ETF (ITB) sees 4000 Nov $122/$112 put spreads bought at $1.75
10/21/24 India ETF (INDA) buyer of 2650 March $60/$65 call spreads at $0.80 as Dec adjust
10/21/24 Celsius Holdings (CELH) opening sellers of 1600 Sept 2025 $35 calls at $8.10 to $8, sees limited upside
10/21/24 Roblox (RBLX) 200 March $52.50 puts sell to open $13.30 ITM
10/21/24 Home Depot (HD) with 5000 Dec $450 calls sold to open at $3.50 to $3.25
10/21/24 Applovin (APP) buyers of 1500 Nov $200 calls at $2.50
10/21/24 Applovin (APP) also buyers of 450 Jan $210 calls at $4.00 offers
10/21/24 Starbucks (SBUX) 10K Dec $85 puts sell to open 1.13
10/21/24 Occidental Petro (OXY) trader sold 5000 Sept 2025 $60 calls to open $3.29
10/21/24 Robinhood (HOOD) buyers 2150 Feb $36 OTM calls $1.29 offer
10/21/24 1.5x Long Coinbase (CONL) rare trade in the levered ETF is selling to open 3000 Nov $33 puts at $6.40 to $6.50
10/21/24 Citigroup (C) with 1500 Jan 2027 $80 calls sell to open at $4 to $4.05
10/21/24 Affirm (AFRM) buyer 3000 Nov 29th (W) $50/$65 call spreads
10/21/24 Recursion Pharma (RXRX) with 600 Jan 2027 $5 ITM calls bought 4.13 to 4.20
10/21/24 Amgen (AMGN) 475 Nov 22nd (W) $325 calls bought $12.95 to $13.20
10/21/24 Bridge Bio (BBIO) opening sale 1000 Dec $25 puts 2.45
10/21/24 TransMedics (TMDX) unusual buy 1000 Nov $110 puts $5.50
10/21/24 Abbott Labs (ABT) 5000 Dec $110 puts sold to open 1.12 to 1.10
10/21/24 Nvidia (NVDA) buyer of 2000 Nov $137 calls at $8.85 to $9.30
10/21/24 Nvidia (NVDA) opening sellers of 1000 Feb $150 ITM puts at $21.10 to $20.70
10/21/24 Palo Alto (PANW) with 1500 Dec $420 calls bought at $12.50 to $12.80, large lots
10/21/24 Micron (MU) opening sales of 400 Feb $130 ITM puts at $23.25 bids
10/21/24 Micron (MU) 2850 Jan 97.50 puts sold to open for 4.24
10/21/24 Palantir (PLTR) with 1600 February $37 puts sold to open 2.74
10/21/24 Celestica (CLS) seeing 2650 weekly $60 calls bought $1.95 offers and up to $2.10 for earnings 10-23
10/21/24 Arista Networks (ANET) 1400 Nov $360 puts sell to open $7 to $6.70
10/21/24 Google (GOOGL) 2000 Feb $180 calls buying at $5.70
10/21/24 Arm Holdings (ARM) size buy 2000 Jan $145 puts for $14.82
10/21/24 Microsoft (MSFT) seeing Nov $400 calls 3500X trading $8.5M with earnings 10-30
10/21/24 Oracle (ORCL) buyers of Nov 1st (W) $175 calls 4000X near 2.75
10/21/24 Constellation Energy (CEG) buyers of 840 Dec $310 calls at $10.10 to $10.80
10/21/24 Vistra (VST) 1500 December $155 calls buying $5.20 offer
10/21/24 Vertiv (VRT) seeing 500 Jan 2027 $160 calls buy at $25.90 to $26.20, reports this week