Weekend Video 11/9/24

Episode 2 of my new podcast: https://www.youtube.com/watch?v=JiQ7qI_wYWE
You can also subscribe on Spotify and iTunes (Apple Podcasts) under Joe’s Happy Hour

Topics covered:
1) 0:00 Announcements
2) 0:30 Market Commentary and Index Review (Nasdaq Composite, S&P 500, and Russell 2000)
3) 17:50 FOCUS LIST: NVDA, ISRG, META, VRT, AVGO, TSM, ONON
4) 24:00 Stock Review – Software: IGV (ETF), MSFT, NOW, ORCL, PANW, FTNT, GWRE, APP, DOCS, CWAN, CRM, PCTY, RBRK, ALAB, KVYO
5) 31:30 Stock Review – Semiconductors: SMH (ETF), ARM, SMTC, AMSC
6) 33:00 Stock Review – Biotech and Medical Products: XBI (ETF) TARS, CRNX, APGE, RYTM, VKTX, RVMD, EWTX, PRCT, NTRA, HALO, TMDX, RXST
7) 38:45 Stock Review – Others/General Ideas/Commentary: TSLA, WIX, NFLX, COHR, CLS, EXPE, RKLB, LUNR, ASTS, FOUR, SPOT, CAVA, SG, TXRH, NRG, CEG, VST, GDS, PCT, UPST, PLTR, INOD, FTAI, GE, HWM, COIN, TEM, AXON, DECK
8) 49:30 Conclusion/Summary

Market Summary:
In last weekend’s video, I mentioned how the dip for the Nasdaq Composite below its 21-day EMA was likely a shakeout to create doubt and fear before the election. The drop occurred on light volume, the major indexes were still above their 10-week moving averages, many growth leaders were still acting well, and the upcoming seasonality is strong. Also keep in mind that I have stronger conviction than most people that we’re in a secular bull market powered by the growth in AI. Thankfully, the election did not drag out and the market had its strongest week of the year. If you did well last week, stay humble and stay focused. If you struggled, don’t beat yourself up! Make sure your self-talk is strong and do some post analysis to make improvements going forward. The main lesson is to shut out the news and the noise as best as possible. Remember, don’t focus on what you THINK the market should be doing, focus on what it is ACTUALLY doing.

From here, members mostly fall into two categories. 1) Those who participated last week and are wondering how to handle their gains. There is no right or wrong answer to this question. The answer mainly depends on your timeframe. The key is that you got a strong entry point and you can make your decisions on whether to hold or sell with some clarity because you have a cushion to work with. Also, keep in mind that you can take partial profits. Not every sell has to be all or none. 2) Those who were cautious around the election (again, there’s nothing wrong with that) and are wondering how to get back in. One way to get quick exposure is through index and/or sector ETFs. Another way is to use the low of gaps as your stop. The best way is to be patient. This is obviously a strong market, but I prefer members practice patience and discipline and NOT chase extended stocks. As always, you can do whatever you want but please remember to manage risk.

From here, I expect strength into year-end with normal pullbacks along the way. Continue to use the 21-day EMA as your guide and understand that the market can digest its recent gains either through price or through time. I will continue to take things day-by-day and update you in these videos. Thank you and good luck this week.

Unusual Option Activity:
11/8/24 Russell 2000 ETF (IWM) sees 6100 Feb $255 calls buying at $4.64 as the $240 calls adjust
11/8/24 Russell 2000 ETF (IWM) also sees 8500 Jan $230 puts sell to open $5.00 as $200 short puts adjust
11/8/24 Nasdaq 100 ETF (QQQ) with a massive stock replacement sells to open 30,000 March $510 puts for $17.66, over $52M in premium
11/8/24 Ark Innovation ETF (ARKK) large buyer of 10,000 Jan $55 calls at $1.92 aggressive offer
11/8/24 Ark Innovation ETF (ARKK) with buyers of 80,000 Dec $60 calls
11/8/24 Bitcoin Fund (BITO) sees 6400 Sept 30th $18 puts sell to open $4.45
11/8/24 Silver ETF (SLV) sees 3450 March $29 puts sell to open $1.90
11/8/24 Biotech ETF (IBB) large opening sales of 10,000 March $136 puts for $2.50
11/8/24 China Internet ETF (KWEB) sees 2000 Sept $32 calls bought at $4.95 offers in large lots
11/8/24 China Internet ETF (KWEB) also buyers of 1100 Sept $30 calls at $6
11/8/24 Sweetgreen (SG) sees a buyer of 300 Jan 2026 $42 calls at $10.90
11/8/24 Disney (DIS) buyer of 1000 Nov 29th (W) $106 calls and 3000 Dec $110 calls
11/8/24 Disney (DIS) 6050 Dec 13th (W) $88 puts sell to open 0.91
11/8/24 Caesars Entertainment (CZR) with 8000 Jan $35 puts sell to open $0.56
11/8/24 AppLovin (APP) up another 14% and seeing 700 Dec $310/$350 call spreads bought at $8.03
11/8/24 AppLovin (APP) also over 700 Jan $380 calls buying $3.80 offers
11/8/24 Upstart (UPST) sees 775 Dec $75 puts sell to open $13.80
11/8/24 Upstart (UPST) seeing buyers of 1000 Jan $77.50 calls at $13.60
11/8/24 Upstart (UPST) also 1000 Jan $90/$77.50 bull risk reversals open at $1.45 credit
11/8/24 MicroStrategy (MSTR) buyer of 500 Sept $420 calls for $58.50 to $59.50
11/8/24 Robinhood (HOOD) buyers of 1300 June $29 calls at $5.90 to $6 as Jan 2027 $27 calls adjust
11/8/24 Eli Lilly (LLY) sees 480 Feb $880 calls buying $38.70 to $42
11/8/24 MeiraGTx Holdings (MGTX) unusual buys of 1300 Jan $7.50 calls at $0.70 to $0.85
11/8/24 Intuitive Surgical (ISRG) stock replacement buys 700 June $700 calls at $6
11/8/24 Vertiv (VRT) with 400 Sept $160 calls buy at $14.25 as the March $130 calls adjust
11/8/24 Advanced Micro (AMD) sees 8640 Feb $145 calls buy at $16.35 as Nov $165 calls adjust
11/8/24 Apple (AAPL) buyer 1400 Jan 2027 $420 calls for $2.28 to $2.34
11/8/24 Nvidia (NVDA) buyer of 1000 Dec 6th (W) $146 calls $10.15 to $10.30
11/8/24 Nvidia (NVDA) buyer 1200 Dec 6th (W) $147 calls up to $9.90
11/8/24 Nvidia (NVDA) 3500 May $180 calls bought $10.95 to $11
11/8/24 Arista Networks (ANET) sees 2790 Jan $360 puts sell to open $6.50
11/8/24 Arista Networks (ANET) also 1450 Dec $360 puts sell to open $4.50
11/8/24 Meta (META) early trades open 5000 Nov 29th (W) $600 calls $11.45 and 5000 of the Dec 6th (W) $600 calls for $14.65
11/8/24 Meta (META) block 2500 Dec $565 puts sold to open $11.30
11/8/24 Snowflake (SNOW) 5500 Jan $95 puts sell to open 1.98
11/8/24 Cloudflare (NET) opening sale 7000 Jan $77.5 puts $1.43
11/8/24 Marvell Tech (MRVL) buyers of 2500 Nov 29th $101 calls for $1.06 to $1.11, also the $99 calls with buyers nearly 2k
11/8/24 Palantir (PLTR) buyer 1000 Dec 13th (W) $63 calls 1.33
11/8/24 Palantir (PLTR) also seeing 600 Sept $75 ITM puts at $22.10
11/8/24 Palantir (PLTR) also with large buys of 1375 June 2026 $80 calls at $11.35 to $11.50
11/8/24 NRG Energy (NRG) buyer 1000 Dec $105 calls for $3.90 as Nov 100 roll
11/8/24 Constellation Energy (CEG) 2500 Jan $210 puts sold to open $4.90
11/7/24 S&P 500 ETF (SPY) 10,000 Nov 29th $600/$590 bull put spreads sell for $4.40
11/7/24 Nasdaq 100 ETF (QQQ) massive buy write sold to open 12,000 March $530 calls at $17.61, willing to be called away at roughly 547 in Q1
11/7/24 China ETF (FXI) large buys of 14,500 Nov 29th $32 calls at $1.82 to $1.95
11/7/24 Treasury ETF (TLT) sees 14,250 Dec 13th $93.50 puts sell to open at $3.35 to $3.05
11/7/24 2x Bitcoin ETF (BITX) buyers of 3800 Dec $45 calls at $3.25 to $3.80
11/7/24 Small Cap Bull 3X ETF (TNA) sees 4200 Dec $60 calls bought at $2.50 to $2.75
11/7/24 Equal Weight S&P ETF (RSP) buyer 5000 March $191 calls $3.49
11/7/24 tesla (TSLA) buyers of 5000 Dec 6th (W) $300 calls at $13.20
11/7/24 Tesla (TSLA) also sees Feb $295 calls open 35,000X as the Nov $255 adjust
11/7/24 Ulta Beauty (ULTA) 1200 June $450 calls sell to open for $25
11/7/24 Costco (COST) 500 Dec 13th (W) $850 puts sell to open 6.20
11/7/24 DoorDash (DASH) mega-bull buys 38,000 March $150 calls $28.55 adjusting Jan. 120 calls
11/7/24 Home Depot (HD) buyer 1000 Dec $405 calls $10.70 offer and higher into earnings next week
11/7/24 AppLovin (APP) into the wild +45% rally sees 1000 Dec $250 calls buying $20 to $22.50
11/7/24 JD.com (JD) reports 11-14 sees 10,000 Jan $45/$50 call spreads bought 1.03
11/7/24 Expedia (EXPE) buyer 2500 April 200/240 call spreads into earnings for $5.45
11/7/24 Exxon (XOM) with 3000 Dec 2025 $130 calls bought 7.45 to 7.75
11/7/24 Bank America (BAC) max strike Sept 2026 $65 calls bought 2300X $1.10
11/7/24 Bank of America (BAC) with 13,500 Nov 29th $44/$45 call spreads buy at $0.61
11/7/24 MicroStrategy (MSTR) buyers of 1000 Nov 29th $300/$325 call spreads at $4.50
11/7/24 MicroStrategy (MSTR) 800 June $290 calls bought $76 to $79
11/7/24 Coinbase (COIN) 1550 Dec $260 puts ITM being sold to open down to 26.85
11/7/24 Coinbase (COIN) buyers of 900 Dec 27th $300 calls at $12.50 to $13.60
11/7/24 LPL Financial (LPLA) 700 January $340 calls bought $4.15
11/7/24 Goldman Sachs (GS) buyer of 840 Jan $660 calls at $4.10
11/7/24 Core Scientific (CORZ) bull flow now for months and sees buyer 3575 Jan $17 calls for $1.50
11/7/24 Revolution Medicines (RVMD) more bull flow with 1180 Dec 2025 $55 puts selling to open for $9.10, also sells some Jan $80 calls
11/7/24 AstraZeneca (AZN) opening sale 1000 Jan 2027 $65 puts 8.30
11/7/24 Eli Lilly (LLY) buyers of 1500 Dec $850 calls $14.75 offers
11/7/24 GE Aerospace (GE) with 1100 Sept $200 calls buy at $14 to $14.25
11/7/24 Rocket Lab (RKLB) buyer 3000 Dec $11 calls $3.15
11/7/24 Nvidia (NVDA) opening sellers 8000 Nov 22nd (W) $134 puts $2.63
11/7/24 Nvidia (NVDA) size buys 5000 Dec 6th (W) $145 calls $10.15 offer
11/7/24 Nvidia (NVDA) also 1700 Dec 6th (W) $144 calls bought $10.50 to $11
11/7/24 Nvidia (NVDA) now 3000 Feb $145 puts selling to open $13.05
11/7/24 Nvidia (NVDA) seeing over 9000 April $155 calls bought at $17.85 as some Jan $130 calls start to adjust
11/7/24 Nvidia (NVDA) seeing 165,000 Dec $125 calls adjust to $135
11/7/24 Microsoft (MSFT) buyers 1500 Dec $410 calls $19 looking to add to OI
11/7/24 Microsoft (MSFT) buyers of 2700 Feb $420 calls at $25.50 as Nov $430 calls adjust
11/7/24 Amazon (AMZN) 1850 March $245 calls bought $4.45
11/7/24 Amazon (AMZN) 9500 Feb $210 calls opening $15.15 as the $195 calls adjust a massive position
11/7/24 Amazon (AMZN) also 2000 Dec $210 puts sell to open $6.31 as $190 short puts adjust
11/7/24 Arm Holdings (ARM) opening seller of 525 Feb $180 calls at $8 to $7.70 after report
11/7/24 Google (GOOG) 600 May $180 calls bought for $1M
11/7/24 Marvell Tech (MRVL) 1050 Dec $95 puts sell to open $6.95
11/7/24 Coherent (COHR) sees 3k Jan $110 calls selling to open at $6.40 to $5.70
11/7/24 Celestica (CLS) 3000 Dec 85 calls adjusting to the $ 90 strike
11/7/24 Vertiv (VRT) spreads selling 800 March $110 puts to buy the $125/$155 call spreads
11/6/24 Russell 2000 ETF (IWM) seeing 8000 Nov 29th $240/$250 call spreads buy at $2.34
11/6/24 Russell 2000 ETF (IWM) 5000 Nov 29th $245 calls buy at $2.18 as Nov 15th calls adjust
11/6/24 Russell 2000 ETF (IWM) also 5000 Nov 29th $235 puts sell to open at $4.78
11/6/24 Nasdaq 100 ETF (QQQ) sees 3000 March $510 ITM puts sell to open at $24.20, over $7M
11/6/24 Nasdaq 100 ETF (QQQ) also a block of 2255 Nov 22nd $512 calls bought at $3.49
11/6/24 Nasdaq 100 ETF (QQQ) also opening seller of 1250 June 30th $475 puts at $16.66 as Jan $500 short puts adjust out
11/6/24 S&P 500 ETF (SPY) 4000 Dec 31st $575 puts sell to open $6.60
11/6/24 China Internet ETF (KWEB) seller 20K Dec $30 puts and buys 20K of the 34/39 call spreads
11/6/24 Biotech ETF (XBI) buyer 1000 March $105 calls $5.85
11/6/24 Tesla (TSLA) size buyers 4200 February $370 calls for over $4M
11/6/24 Tesla (TSLA) also 3000 June $280 puts selling to open near $40.50 average
11/6/24 Tesla (TSLA) buyer 5000 Dec 6th (W) $280 calls for $16.90
11/6/24 Tesla (TSLA) sees 4500 Feb $295 calls bought at $33.10 to $34.20 in large lots
11/6/24 Ross Stores (ROST) 1700 Nov $142 puts sell to open $2.85
11/6/24 Maplebear (CART) 2500 June $50 calls buying $6.20 offers looking to add to OI
11/6/24 Chevron (CVX) size buyer 1500 June $155 calls $11.55
11/6/24 Chevron (CVX) with 10k Jan $175 calls buying at $0.84 to $0.87
11/6/24 Hess Corp (HES) with 800 June $145 puts sell to open $10.10, Jan $135 short puts adjust
11/6/24 Blackstone (BX) buyers of 1400 March $180 calls at $12
11/6/24 MicroStrategy (MSTR) buyers of 1000 June $250 calls at $83.50 offers, over $7.5M
11/6/24 MicroStrategy (MSTR) 300 June $250 puts sold to open $70.25
11/6/24 Coinbase (COIN) buyer of 2000 Nov 29th $220 ITM calls at $18.80 to $20
11/6/24 Coinbase (COIN) Feb $230 calls bought 25,215X as the $185 adjust
11/6/24 2X Coinbase (CONL) with 4000 Jan 2026 $50 calls bought for $8.75M
11/6/24 2X Coinbase (CONL) also 4500 June $51 calls bought $7.5M
11/6/24 Citigroup (C) 10,000 Jan $72.5 calls bought 2.13 to 2.14 as Nov. roll
11/6/24 Robinhood (HOOD) 1800 May $30 calls bought $3.75 looking to add to OI
11/6/24 Sofi (SOFI) buyers of 5000 April $12 calls at $1.80 offers
11/6/24 Berkshire Hathaway (BRK/B) buyer of 1000 March $500 calls at $8.40 to $8.60
11/6/24 Glaxo (GSK) buyer 10,000 January 2026 $37 calls $2.98
11/6/24 NewAmsterdam Pharma (NAMS) spreads sell 2000 Jan $15/12.50 put spreads for $1 and buys the $20 calls at $8.29
11/6/24 Vertiv (VRT) sees 3000 Dec $125 calls buy at $6.10 as the Nov $120 calls adjust
11/6/24 Flowserve (FLS) 2100 Dec $60 calls bought 2.20 as Nov 55 adjust
11/6/24 Zoom (ZM) sweep buyers 4500 Dec $95 calls up to $0.89
11/6/24 Zoom (ZM) opening sellers in Dec 80 and 77.5 puts for $600K premium
11/6/24 Coherent (COHR) Dec $110 calls sell to open $3.20
11/6/24 Coherent (COHR) also opening sales of 1600 Dec $100 calls at $7.11, and 1000 Jan $105 calls sell to open $6.60
11/6/24 Microsoft (MSFT) buyer 14,500 Feb $405 calls $31.60 as $390 strike adjusts
11/6/24 Microsoft (MSFT) also 1000 Dec 2025 $430 puts sell to open $40.75
11/6/24 Fortinet (FTNT) 1375 Dec $90 calls bought $2.05
11/6/24 Marvell Tech (MRVL) sees 1100 March $87.50 puts sell to open $8.10 to $8
11/6/24 Astera Labs (ALAB) buyers of 500 April $70 ITM calls at $21.15 as Dec $65 calls adjust
11/6/24 Palantir (PLTR) buyers of 2500 Feb $70 calls at $2.11
11/6/24 Palantir (PLTR) also buyers of 2000 March $75 calls at $1.97
11/6/24 Broadcom (AVGO) seeing 2000 March $166 puts and 3950 March $164 puts sell to open for over $6.5M premium
11/6/24 Google (GOOG) 450 Jan 2027 $230 calls bought $17.50
11/6/24 Google (GOOGL) buyer 2200 June $195 calls for $8.95
11/6/24 Amazon (AMZN) 780 April $205 puts sold to open $14.10 bids
11/6/24 Amazon (AMZN) 28,000 Feb $195 calls bought as Dec 170 calls adjust, $60M position
11/6/24 Amazon (AMZN) large buyers for over 10k Nov 29th $205 calls $5.70 to $5.80
11/6/24 Qualcomm (QCOM) 2000 February $160 puts sell to open $8.59