Topics covered:
1) 0:00 Announcements
2) 0:15 Market Commentary and Index Review (Nasdaq Composite, S&P 500, and Russell 2000)
3) 9:55 Stock Review – Aerospace/Defense: ITA (ETF), GE, HWM, RTX, ERJ, ASTS, RKLB
4) 11:30 Stock Review – Others/General Ideas/Commentary: META, PLTR, UBER, NFLX, NVDA, AVGO, DOCS, GDS, CRMD, MP, TW, ACMR, BE, WMB, EXE
5) 18:00 Conclusion/Summary

Market Summary:
Over the past 4-5 weeks, I’ve been emphasizing “defense, defense, defense.” Why? The major indexes are below their 50-day moving averages (most are also below their 200-days), and the price action of stocks is very poor. From here, I would like to see 5 things in order to feel more confident that a new SUSTAINED uptrend might be coming: 1) Signs that the selling is slowing down. 2) One (preferably two) follow through days (FTD). 3) The major indexes to regain their 50-day. 4) The price action of stocks to improve. 5) Sentiment to get washed out. Again, this will take time to develop, but in the meantime, I will keep curating a list of stocks holding up well and observe how they act.

In this video, I review the recent price action and the Market Note to Members that was emailed earlier today. In case you missed it, you can also find it on the website next to this video. The bottom line is it’s a reminder to stay defensive until we see the institutions come back into the market, and to wait patiently for market conditions to improve. The recent recovery was on low volume, ran into resistance near the 200-day, and then was met with heavier selling today. My interpretation is that it will take some time before we see anything sustained. Again, please be patient, protect capital, and protect your confidence so you can be ready when market conditions improve. Thank you and good luck for the remainder of the week.

Unusual Options Activity:
3/26/25 Nasdaq 100 ETF (QQQ) with 1250 August $475 ITM calls buying at $38.50 to $39, nearly $5M
3/26/25 Nasdaq 100 ETF (QQQ) 4700 April 25th $507 calls bought at $5.03 and sells 1600 of the $470 puts at $3.98 in bull r/r
3/26/25 Russell 2000 ETF (IWM) 7000 July $210 calls bought to open $6.5M as May $210 adjust
3/26/25 Biotech ETF (XBI) buyer of 10,000 April $90 calls at $0.83 offer sweeps
3/26/25 Financials ETF (XLF) 90,000 April $49.50 puts bought 0.52
3/26/25 Colgate (CL) buyer 400 Jan 2027 $90 calls $12.5
3/26/25 Nike (NKE) block of 1800 Oct $60 calls sold to open 9.70
3/26/25 Expand Energy (EXE) buyers 1500 April $115 calls for $1.20 as some $110 calls adjust
3/26/25 Exxon (XOM) 10,000 May $125 calls sold to open 1.41
3/26/25 Chevron (CVX) 10K May $175 calls sell to open
3/26/25 Occidental (OXY) 1200 Jan 2027 $42.5 puts sell to open $3.40
3/26/25 Berkshire Hathaway (BRK.B) 500 Jan $540 puts sell to open $29.40
3/26/25 Global Payments (GPN) 3500 May $85 puts sell to open $0.90 to $0.85
3/26/25 Jazz Pharma (JAZZ) sees unusual 500 Oct 130/165 call spreads bought for $12.80
3/26/25 Broadcom (AVGO) 1000 August $150 puts sell to open $5.55
3/26/25 Apple (AAPL) buyer 1300 April 11th (W) $222.50 calls $6.35 offer
3/26/25 Apple (AAPL) buyers of 3000 July $220 calls at $15.60 to $15.70
3/26/25 ASML Holding (ASML) 925 May 2nd (W) $610 puts sell to open $6.05
3/26/25 Cloudflare (NET) 600 Jan $180 calls sold to open 8.65
3/26/25 Palantir (PLTR) 3900 April 88 puts sell to open $3.26
3/26/25 Meta (META) large opening sale 3000 May $530 puts $8.45
3/26/25 Nutanix (NTNX) buyer 900 Jan $85 calls $6.85
3/26/25 AST SpaceMobile (ASTS) buyer 2000 April 25th (W) $29 calls for $680K
3/25/25 Utilities ETF (XLU) buyer 5000 May $75 puts at $0.89 offer
3/25/25 Energy ETF (XLE) sees a block of 10,000 April $94 calls bought at $1.95
3/25/25 Retail ETF (XRT) buyers 3275 May $68 puts $1.37 offer sweeps
3/25/25 Gold Miners ETF (GDX) block of 5000 May $46 calls sell to open at $1.81
3/25/25 China Internet ETF (KWEB) 5000 Sept $32 puts sold to open $1.69
3/25/25 Biotech ETF (XBI) 1500 October $80 puts sold to open $3.26
3/25/25 Walmart (WMT) 3400 May $77.5 puts sell to open 0.93
3/25/25 Shark Ninja (SN) opening sales of 400 Dec $80 puts at $7.30
3/25/25 McDonald’s (MCD) 5000 May $285 puts sell to open 2.28
3/25/25 Trade Desk (TTD) 1275 Jan 2027 $62.50 calls being sold to open
3/25/25 DoorDash (DASH) buyer 1000 Sept $230 calls $12.84
3/25/25 Lyft (LYFT) 5000 July $13 puts sell to open $1.85
3/25/25 Boston Scientific (BSX) buyer 6000 Jan 2027 $105 calls $18.20
3/25/25 Gilead (GILD) 850 August $97.50 puts sold to open $3.33
3/25/25 Intuitive Surgical (ISRG) with 300 Jan 2027 $540 puts sold to open $81.55
3/25/25 AstraZeneca (AZN) 3000 April $73 calls buy 1.95
3/25/25 Meta (META) 1600 April 11th $635 puts sell to open $22.75 to $22.20
3/25/25 Meta (META) also an opening seller of 400 May 2nd $625 puts at $31.27
3/25/25 Apple (AAPL) 1300 April 11th (W) $217.50 puts sell to open $3.20
3/25/25 Oracle (ORCL) 10,000 May $140 puts sell to open $2.31
3/25/25 Zoom (ZM) 600 March 2026 $72.5 puts sell to open $6.38
3/25/25 AT&T (T) opening sale 4900 Sept $23 puts $0.50
3/24/25 Bitcoin ETF (IBIT) sees 7500 May $52 calls bought at $3.25, adjusting the $46 calls
3/24/25 Bitcoin ETF (IBIT) opening seller 1000 June $55 puts 7.80
3/24/25 Oil & Gas ETF (XOP) 3900 Sept $140/$120 bull risk reversals trade for $2.32 debit
3/24/25 Gold ETF (GLD) opening sale of 15,000 May $288 calls at $3.20
3/24/25 Energy ETF (XLE) 2350 Sept $95 calls bought $5.15
3/24/25 Russell 2000 ETF (IWM) 3000 July $200 puts sold to open $3
3/24/25 Pepsi (PEP) 5000 May $140 puts sell to open 2.06
3/24/25 Uber (UBER) opening sales of 4250 May $82.50 calls at $2.41 as April $85 short calls adjust
3/24/25 Lowe’s (LOW) 5000 June $250 calls sold to open $4.62
3/24/25 Marathon Petro (MPC) 500 Dec $160 calls sold to open $13.10
3/24/25 Chevron (CVX) block of 10,000 June $180 calls sell to open at $1.57
3/24/25 Visa (V) seller to open 500 Jan $390 calls $11.65
3/24/25 Recursion Pharma (RXRX) 2400 Jan 2027 $20 upside calls bought $1.40
3/24/25 MP Materials (MP) 1200 Sept $27 puts sell to open $4.32
3/24/25 Meta (META) 2000 ITM April $550 calls bought over $15M
3/24/25 Microsoft (MSFT) 9200 April $390 puts bought as $380 strikes adjust
3/24/25 Oracle (ORCL) opening sale of 1450 June $155 calls at $12.06
3/24/25 Salesforce (CRM) buyer 400 March 2026 $310 calls $32
3/24/25 Qualcomm (QCOM) buyer 325 March 2026 $180 calls $14.75 offer
3/24/25 Palantir (PLTR) ITM May 2nd (W) $80 calls bought 1600X $18.80
3/24/25 Marvell Tech (MRVL) 10,000 May $65 puts sell to open $2.18
3/24/25 Apple (AAPL) 10,000 Dec $270 calls sold to open $4.80
3/24/25 T-Mobile (TMUS) opening sale 400 Aug $240 puts at $8.60
3/24/25 S&P 500 ETF (SPY) buyer of 1000 March 2026 $640 calls at $14, also sells the $540 puts at $21.56 for bull risk reversal at a net credit