Topics covered:
1) 0:00 Announcements
2) 0:15 Market Commentary and Index Review (Nasdaq Composite, S&P 500, and Russell 2000)
3) 10:15 FOCUS LIST: NVDA, ISRG, META, TSM, ONON, TSLA, PLTR, AVGO, RKLB
4) 13:40 Stock Review – Software: IGV (ETF), NOW, CRM, MSFT, APP, FTNT, CYBR, CRWD, RBRK, NET, KD, PSTG, DOCS, GDDY, WIX, TEAM, DAVE, TWLO, DT, KVYO
5) 18:15 Stock Review – Semiconductors: SMH (ETF), SMTC, MRVL, ALAB, ANET, CRDO, NVMI
6) 20:20 Stock Review – Others/General Ideas/Commentary: NTRA, INSM, BPMC, VRT, VST, CEG, NRG, GEV, SEI, BE, CLS, LUNR, RDW, PL, HWM, EQT, WMB, EXE, SPOT, FOUR, BROS, DECK, HOOD, RDDT, NBIS, SFM
7) 25:15 Stocks Near Buyable Ranges: RKLB, FOUR
8) 26:45 Conclusion/Summary

Market Summary:
Most of my comments can be found in the Market Note that was emailed on Tuesday Jan 28th before the market open. It is also posted on the site in case you haven’t read it yet. Bottom line: Stay defensive because I’m still expecting a choppy/corrective environment over the near-term. As I mentioned in last weekend’s video, I was waiting for clarity from the Fed today, but the DeepSeek news on Monday overrode that. The Fed didn’t say anything earthshattering today anyway. The more important thing going forward are earnings and the overall spend on AI. Let’s be patient until we get more clarity on this. We will definitely see another sustained uptrend this year, but the key will be having some patience and discipline until it shows up. Just keep things light so you don’t get chopped around until then. Remember, protecting your confidence is just as important as protecting capital during these choppy periods. Good luck for the remainder of the week.

Unusual Option Activity:
1/29/25 Financials ETF (XLF) seeing buyers in April $54 calls 12,000X 0.59 to 0.60
1/29/25 Bitcoin ETF (IBIT) seeing a large buyer of 21,775 Feb $30 deep ITM calls at $28.30 as Jan 31st calls adjust
1/29/25 Healthcare ETF (XLV) with 1900 Jan 2026 $155 calls sell to open 5.40
1/29/25 Biotech ETF (IBB) buyer of 2500 June $125 puts at $2.36
1/29/25 Tesla (TSLA) seller of 1000 June $275 puts
1/29/25 Domino’s Pizza (DPZ) 1500 March 7th (W) $340 puts sell to open $3.40
1/29/25 Shopify (SHOP) confident bull sells to open 1200 June $110 puts at $11.01, reports 2/11
1/29/25 Starbucks (SBUX) sees the March $110 calls adjust up winners and buy 5000 March $115 calls at $0.90
1/29/25 Floor Decor (FND) 6650 March 85 puts sell to open 1.10 to 1.05
1/29/25 Netflix (NFLX) opening sale 250 April $945 puts $36.60
1/29/25 Chevron (CVX) large block of 15,000 March $165 calls sell to open $1.33
1/29/25 Solaris Energy Infra (SEI) buyer of 1143 March $25/$35 call spreads at $2.45
1/29/25 Solaris Energy Infra (SEI) also 2500 March 30/40 call spreads bought
1/29/25 SoFi Technologies (SOFI) 575 Feb 2026 $22 ITM puts sell to open $7.70
1/29/25 Goldman Sachs (GS) opening sales of 1200 August $800 calls at 47
1/29/25 JP Morgan (JPM) 1000 April $275 puts sold to open $14.45
1/29/25 JP Morgan (JPM) also 1250 August $215 puts sold to open $3.15
1/29/25 Thermo Fisher (TMO) large opening sale 500 March $570 puts 16.60 into earnings
1/29/25 Meta (META) buyer of 400 May $870 calls at $8.70
1/29/25 Meta (META) 250 July 680 calls bought for $1.7M
1/29/25 Nvidia (NVDA) 1285 Oct $135 calls bought $2.4M
1/29/25 Dell (DELL) opening sale 1000 Jan 2027 $80 puts 10.77
1/29/25 Corning (GLW) 2000 March 50 calls bought 2.69 as Feb. adjust
1/29/25 Workday (WDAY) 1645 March 7th (W) $305/$325 call spreads bought
1/29/25 Ciena (CIEN) 650 March 75 puts sold to open for 3.60
1/29/25 Dynatrace (DT) 3000 Feb 60/65 call spreads bought into earnings, recent accumulation in the 60 calls
1/29/25 Celestica (CLS) sees 1000 Feb $80 puts sell to open at $1.45
1/28/25 Software ETF (IGV) buyers of 1200 June $100 ITM calls at 410.30 offer sweeps
1/28/25 S&P 500 ETF (SPY) large opening sales of 70,000 March $620 calls at $5.05
1/28/25 Ultra Nasdaq 100 ETF (TQQQ) sees 10,000 Feb $77 puts sell to open at $4.00
1/28/25 Nasdaq 100 ETF (QQQ) 4500 April $490 short puts open 7.74
1/28/25 Retail ETF (XRT) with 7500 June $88 calls sell to open $1.70
1/28/25 Materials ETF (XLB) opening sales of 3000 Sept $95 calls for 42.48
1/28/25 Materials ETF (XLB) also 2000 June $90 calls sold to open $3.52
1/28/25 Biotech ETF (XBI) 2000 May $90 short puts opening $3.50
1/28/25 Tesla (TSLA) opening sale 500 Jan 2027 $600 puts $254.50
1/28/25 Shopify (SHOP) 1500 Sept $175 max strike calls buy 4.60 offer
1/28/25 Geo Group (GEO) big buys 14,000 Jan $35 calls for $9M as June calls adjust
1/28/25 Toast (TOST) sees 5000 June $44 calls sell to open at $3.80 bids
1/28/25 Disney (DIS) buyer 3000 Feb 7th (W) $115/$125 call spreads $2.16, reports 2/5
1/28/25 Expedia (EXPE) 1155 April $155 puts sell to open at $5.27 to buy the $170/$200 call spreads at $9.72, reports 2/6
1/28/25 Bloom Energy (BE) buyer 500 May $22 calls 4.50 offer
1/28/25 Bloom Energy (BE) 1250 May 21 puts sold to open $4.01
1/28/25 Berkshire Hathaway (BRK/B) buyers of 1600 June $480 calls at $18 to $19
1/28/25 Robinhood (HOOD) large opening buy 5000 August $55 calls 7.80 to 7.85
1/28/25 Eli Lilly (LLY) 400 August 920 calls sold to open 44.20
1/28/25 Travere Therapeutics (TVTX) buyer of 1000 June $20 calls at $2.15
1/28/25 GE Vernova (GEV) buyer of 725 March $350/$420 call spreads at $14.70
1/28/25 Apple (AAPL) buyers of 4500 Dec $220 ITM calls at $34.90 up to $35.90 in large lots, over $16M
1/28/25 Workday (WDAY) 2500 March 7th (W) $225 puts sell to open 2.57
1/28/25 Broadcom (AVGO) seller 850 July $200 puts for 22.30
1/28/25 Broadcom (AVGO) 300 August 185 puts sell to open 15.85
1/28/25 Nvidia (NVDA) seeing 4350 July $85 puts with opening sales $3.50 and lower
1/28/25 Nvidia (NVDA) sellers of 4500 July $95 puts $5.85 and lower
1/28/25 Nvidia (NVDA) buyers of 12,000 Sept $118/$150 call spreads
1/28/25 Dynatrace (DT) buyer of 3500 OTM Nov $85 calls for $1.20, name with recent Feb 60 call accumulation
1/28/25 Lam Research (LRCX) 300 ITM May $88 puts sell to open 15.30
1/28/25 Meta (META) buyer of 2000 Jan 2026 $850 calls at $47.53, adjusting June $750 calls
1/28/25 Snowflake (SNOW) buyer 525 May $230 calls $5.60 offer
1/28/25 Western Digital (WDC) 7125 Feb $70 calls buy 1.08
1/28/25 Salesforce (CRM) buyers of 1650 Feb $365 calls at $11.80
1/28/25 Salesforce (CRM) buyers of 3450 Feb $400 calls at $1.80 to $2.80
1/28/25 Salesforce (CRM) also buyers of 1200 May $370 calls at $26.35
1/28/25 Micron (MU) large buyers of 2600 Jan 2027 $90 calls at $26.50
1/28/25 Micron (MU) buyer 17,000 July 120/130 call spreads
1/28/25 Celestica (CLS) 500 March 90 puts sell to open 9.90 to 9.80
1/28/25 Celestica (CLS) massive opening seller of 2500 Jan 2027 $120 ITM puts at $44 to $42.10
1/28/25 Oracle (ORCL) spread 500X selling July $140 puts to buy the $200/$230 call spreads
1/28/25 Reddit (RDDT) buyer 320 January $280 calls $29 to $29.10
1/28/25 Reddit (RDDT) also 300 May $200 puts sell to open $36
1/28/25 Corning (GLW) buyer 25,000 March $55 calls $1.04
1/28/25 Cloudflare (NET) 1000 January $130 puts sold to open for $20.30
1/28/25 Palantir (PLTR) opening sellers of 1600 July $62.50 puts at $5.65 bids
1/28/25 Palo Alto (PANW) large buyer of 1500 January 2026 $230 calls at $17.74
1/28/25 Taiwan Semi (TSM) opening seller 1650 July $160 puts for $5.70
1/28/25 Cellebrite DI (CLBT) seeing unusual 5000 Feb $25 calls buy 0.95 to 1.10
1/28/25 Vertiv (VRT) 400 April $100 puts sell to open 11.50
1/28/25 Oklo (OKLO) buyer 1000 Feb $29 calls $5.25 offer
1/27/25 Semiconductors ETF (SMH) large opening seller of 12,000 Feb $220/$190 bull put spreads for $3.37
1/27/25 Semi Bull 3X ETF (SOXL) opening seller 6000 August $20 puts for $3.20
1/27/25 S&P Equal Weight WTF (RSP) buyer 3150 March 183 puts for $4
1/27/25 Tapestry (TPR) opening sales of 480 Jan 2027 $60 puts for $7 to $6.85
1/27/25 Walmart (WMT) buyers of 4000 June $95 calls $6.30 to $6.40
1/27/25 Walmart (WMT) also 2000 June 97.5 calls bought $4.90 to $5.50
1/27/25 Hims & Hers Health (HIMS) opening sales of 1750 Jan 2026 $30 puts at $8.55 to $8.30
1/27/25 Airbnb (ABNB) 2000 August $135 calls buy after 3000 bought last week
1/27/25 EQT (EQT) opening sale of 12,800 Feb $42 puts at $0.27
1/27/25 EQT (EQT) 825 Jan 2027 $40 puts sold to open 4.60
1/27/25 Bloom Energy (BE) with 10k March 7th $15 puts sell to open $0.38
1/27/25 Williams Cos (WMB) sees 8000×16,000x March $55/$60 call ratios open at $0.95 debits
1/27/25 Marathon Petro (MPC) buyer 1000 April $160 calls 5.80 to 5.85
1/27/25 Exxon (XOM) sees buyers of 2800 April $100 ITM calls at $11 to $11.15
1/27/25 Coinbase (COIN) buyer 1000 Feb $275/$325 call spreads
1/27/25 Amgen (AMGN) 4500 Feb $295 calls selling to open
1/27/25 Intuitive Machines (LUNR) 450 June 22 calls bought 6.15 to 6.45
1/27/25 Microsoft (MSFT) buyers of 2500 Feb 28th $450 calls at $4.75 to $5.70
1/27/25 Lam Research (LRCX) massive buyer of 3500 Jan 2027 $78 calls at $18 to $18.75
1/27/25 Micron (MU) 1000 July $95 calls sell to open $13 to $12.95
1/27/25 Micron (MU) 10K March 75 puts sell to open 1.10
1/27/25 Amazon (AMZN) 4000 Feb 202.50 puts sold to open 1.90
1/27/25 Amazon (AMZN) also 6500 March 7th (W) $240 calls buy 8.20 offers
1/27/25 Vertiv (VRT) seller to open 750 Jan $100 puts $15.80
1/27/25 Palantir (PLTR) with 2000 February $76 calls bought up to 6.95
1/27/25 Snowflake (SNOW) buyer of 500 May $220 calls at $5.85 offer
1/27/25 Snowflake (SNOW) also seeing 650 August $220 calls bought at $12 to $12.40
1/27/25 Salesforce (CRM) 500 March 7th (W) $365 calls bought $9
1/27/25 Taiwan Semi (TSM) buyers of 1150 Dec 2026 $195 calls at $47 to $49, over $5.5M
1/27/25 Taiwan Semi (TSM) now with 2200 July $170 puts sold to open at $11.59 in a single block
1/27/25 Elastic (ESTC) buyers 400 March $125 calls $3.30
1/27/25 Western Digital (WDC) 2500 March $65 calls bought $4.50 as Feb calls adjust
1/27/25 Teradyne (TER) 2800 March $100 puts sold to open $1.55
1/27/25 Dynatrace (DT) trading another 5000 February $60 calls today with buyers
1/27/25 Kalviyo (KVYO) buyer 1000 July $60 calls 1.95 to 2.10
1/27/25 Dell (DELL) opening sale 600 Jan 2027 $90 puts 15.40
1/27/25 Vistra (VST) 1000 Feb 28th (W) $140 puts sell to open 8.45
1/27/25 Vistra (VST) also with 1000 Dec $145 calls bought at $34.50 to $36.50
1/27/25 Constellation Energy (CEG) 3300 March $230 puts sell to open $4.60
1/27/25 Constellation Energy (CEG) also June $200 puts sold to open 5000X at $6.07
1/27/25 Meta (META) 1350 Jan $850 calls bought $40 to $41.50
1/27/25 Meta (META) seeing 20,000 Jan 2027 $1250 calls bought at $28.40, adjusting June 2026 $1030 calls from last April original massive buyer