Topics covered:
1) 0:00 Announcements
2) 0:15 Market Commentary and Index Review (Nasdaq Composite, S&P 500, and Russell 2000)
3) 8:45 RELATIVE STRENGTH LIST: NFLX, PLTR, SFM, UBER, GH, CRWD, SPOT, RKLB
4) 11:55 Stock Review – Aerospace/Defense: SHLD (ETF), RTX, HWM, KTOS, MRCY
5) 13:05 Stock Review – Biotech/Medical: WGS, GRAL, VRTX, RYTM, SMMT, ADMA, TGTX, SWTX, TARS
6) 16:05 Stock Review – Others/General Ideas/Commentary: AMZN, META, TSLA, NVDA, GOOGL, NGVC, DPZ, MNST, TEM, BYDDF
7) 19:35 Conclusion/Summary

Market Summary:
Current POSITIVES in the market: 1) We had a follow through day (FTD) on Tuesday, April 22. We had an additional FTD today. The volume wasn’t great on Tuesday, but it’s still a step in the right direction and a sign of the institutions slowly getting back into the market. 2) The price action of some growth stocks are improving. I highlight some relative strength names in this video. 3) Sentiment is very poor. I like how the NAAIM number dropped to 35 last week. Current NEGATIVES: 1) The major indexes are still below their 50 and 200-day moving averages. 2) There aren’t too many safe entry points. 3) There is still headline risk/uncertainty which leads to higher volatility. 4) The MegaCap (Mag 7) stocks continue to look weak.

My conclusion is that I will be open-minded, but I still want to see the market prove itself. I’ve had a heavy cash position recently and I’m currently going to keep my investment levels in the 20-40% invested range. If the market digests its recent gains well and goes sideways from here, I plan to get more invested. If this rally ends up being a trap, I want to keep things light just in case the market wants to retest its lows. As always, I encourage members to have your own plan, know your own timeframe, and stick to your overall investment objectives. Thank you and good luck for the remainder of the week.

Unusual Options Activity:
4/23/25 S&P 500 ETF (SPY) 3000 March $620 calls bought $13.11 to $13.15
4/23/25 Financials ETF (XLF) buyer 2000 Dec 2027 $48 calls $8.50
4/23/25 Bitcoin ETF (IBIT) 2000 June $53 puts selling to open $4
4/23/25 Bitcoin ETF (IBIT) also buyers 5000 August $69 calls $2.30 offer
4/23/25 Technology ETF (XLK) 1850 Sept $190 puts sell to open $9.55 to $9.45
4/23/25 Energy ETF (XLE) with 5000 June 2026 $80 puts sold to open at $8.10
4/23/25 Software ETF (IGV) 10,000 June $100 calls sold to open
4/23/25 McDonald’s (MCD) 500 July $290 puts sell to open $4.30 to $4.27
4/23/25 Nike (NKE) 2200 Dec 2027 $50 puts selling to open $8.10
4/23/25 Walmart (WMT) block of 2650 July $90 puts sold to open $3.31
4/23/25 Wynn Resorts (WYNN) size opening sale of 8500 Jan 2027 $62.5 puts for 7.20
4/23/25 Marathon Petro (MPC) 500 Dec $135 calls sold to open $16.20
4/23/25 Visa (V) buyers of 500 Oct $355 calls at $20.85 to $21
4/23/25 American Express (AXP) 200 Jan 2027 $260 calls bought $50.51
4/23/25 Coinbase (COIN) buyer of 12,750 May $195 calls at $13.80 as the $160 calls adjust higher
4/23/25 JP Morgan (JPM) buyer 875 March 2026 $240 calls $30.15
4/23/25 KKR (KKR) 1000 Sept $92.5 puts sell to open $6.70
4/23/25 Intuitive Surgical (ISRG) 1365 June $435 short puts open $6.45
4/23/25 Eli Lilly (LLY) 750 June $690 puts sell to open $15.55
4/23/25 GE Vernova (GEV) 2500 June $260 short puts opening
4/23/25 Caterpillar (CAT) size opening sale 600 July $300 puts $18.30
4/23/25 Apple (AAPL) sees 6000 August $185 puts sell to open at $7.00
4/23/25 Apple (AAPL) also sees 5000 August $160 puts sell to open $3.05
4/23/25 Nvidia (NVDA) large opening seller of 8200 June 2027 $80 puts for $12.61, collecting $10M
4/23/25 Celestica (CLS) sees 1250 May $95 calls bought at $6 as $90 calls adjust
4/23/25 CrowdStrike (CRWD) 1850 August $350 puts sell to open $22.50 to $21.90
4/23/25 Atlassian (TEAM) 300 Sept 230 calls buy 25.70
4/23/25 Vistra (VST) 2000 July $110 short puts open $9.95 as the $100 puts adjust
4/23/25 Vistra (VST) also 500 Oct $120 short puts open 19.50
4/22/25 China ETF (FXI) sees 10,000 Dec $33/$37 call spreads bought at $1.69
4/22/25 China ETF (FXI) 15,000 May 30th (W) $34.5/$36.5 call spreads bought
4/22/25 Energy ETF (XLE) opening sale 13,000 June $69 puts $1.13
4/22/25 Bitcoin ETF (IBIT) buyers of 1850 June 2026 $50 calls $14.40 to $14.60 as some of the Jan calls adjust
4/22/25 Technology ETF (XLK) 2000 Oct $191 calls sell to open $18.15
4/22/25 Russell 2000 ETF (IWM) 3000 Sept 2026 $170 puts sell to open $11.70
4/22/25 Nasdaq 100 ETF (QQQ) buyer 1000 June 2026 $490 calls $34.94
4/22/25 Healthcare ETF (XLV) buyer of 1050 Oct $130 calls at $11.10 as $135 calls adjust
4/22/25 Consumer Discretionary ETF (XLY) 2500 Jan $150 puts sell to open $5.99
4/22/25 Tesla (TSLA) buyer 1750 May 2nd (W) $240 calls $12.75
4/22/25 Tesla (TSLA) also 5000 May $250 calls bought $14.10 to $14.20
4/22/25 Roblox (RBLX) with 1000 May 2nd (W) 60/68 call spreads buying for earnings next week
4/22/25 Nike (NKE) buyers of 7000 May 23rd $65 calls at $0.57 offers
4/22/25 Lyft (LYFT) 8250 June $11 puts sell to open $1.23
4/22/25 Netflix (NFLX) buyers in May $1150 calls 2000X $8.80 to $10.30
4/22/25 Uber (UBER) size opening sale 3050 August $62.5 puts for $2.90
4/22/25 DraftKings (DKNG) 3500 August $45 calls buy 0.93 to 0.94
4/22/25 Occidental Petro (OXY) buyer 1250 Dec 2026 $47.5 calls $4.80
4/22/25 Robinhood (HOOD) buyer 2200 May $43.50 calls $3.35
4/22/25 Robinhood (HOOD) also seeing 2500 June $47 and $48 calls with offer buys
4/22/25 MasterCard (MA) 300 July $460 puts sell to open 9.55
4/22/25 KKR (KKR) opening sellers of 2000 Sept $70 puts at $2.75
4/22/25 PTC Therapeutic (PTCT) trade opens 2000 May $60/$45 bull risk reversals $1.20 debit
4/22/25 Viking Therapeutics (VKTX) sees 5000 August $22.50 puts sell to open at $3.80
4/22/25 Beam Therapeutics (BEAM) size opening sale 10,000 August $20 puts at $3.40
4/22/25 TransMedics Group (TMDX) 1000 July $90 calls being bought near $13.90 to $14.20
4/22/25 Microsoft (MSFT) 5000 July $325 puts sell $6.35 bid
4/22/25 Applied Materials (AMAT) 540 July $135 calls bought $14.45 to $14.90
4/22/25 Cloudflare (NET) size buyer 2300 Jan 2027 $115 calls $29.90 to $30.30
4/22/25 Google (GOOGL) 1500 Jan 2027 $120 short puts open 10.64 as Jan 2026 $150 adjust
4/22/25 Meta (META) large buy in May $510 calls 2000X at $19.90
4/22/25 Dell (DELL) buyer 950 June 2026 $120 calls $7.50
4/22/25 CrowdStrike (CRWD) 850 Oct $230 puts sell to open $8
4/22/25 CoreWeave (CRWV) 4500 Oct $30 puts sold to open for $6
4/22/25 Vertiv (VRT) 1300 Dec $60 puts sell to open $9.01
4/21/25 Nasdaq 100 ETF (QQQ) 2250 Dec 2027 $430 puts sell to open $52.55
4/21/25 Russell 2000 ETF (IWM) buyer 3000 July $187 calls $9.66 adjusts May 187 calls
4/21/25 Bitcoin ETF (IBIT) buyers of 5800 August $55 calls at $4.70 offers
4/21/25 Consumer Discretionary ETF (XLY) sees 1000 Dec $210 calls buy $6
4/21/25 Nike (NKE) buyer 3800 July $60 calls $2.73
4/21/25 Target (TGT) 1200 Sept $80 puts sell to open $5.90 to $5.80
4/21/25 Netflix (NFLX) 1225 June $850 puts selling to open $13.80 to $13.20
4/21/25 Netflix (NFLX) 1350 May $1130 calls buy $5.55
4/21/25 Uber (UBER) buyer 1000 May 2nd (W) $72/$80 call spreads
4/21/25 Cava Group (CAVA) 5000 June $50 puts sell to open $0.75
4/21/25 DoorDash (DASH) 1500 August $155 short puts open 11.12 as May 155 adjust
4/21/25 Penn Gaming (PENN) 2000 January 2027 $10 puts sell to buy 2000 of the 15/20 call spreads
4/21/25 J&J (JNJ) 1350 May 30th (W) $160 calls bought $3.10
4/21/25 Eli Lilly (LLY) buyer of 200 June $810 ITM calls at $61 to $62.40
4/21/25 Grail (GRAL) 425 Jan $55 calls bought $4
4/21/25 GE Vernova (GEV) sees 1700 June $210 puts sell to open $3.80 to $3.70
4/21/25 Apple (AAPL) large buyers of 2600 August $150 deep ITM calls at $48.65 offers, near $13M
4/21/25 Nvidia (NVDA) buyers of 4200 May 9th $97 calls at $6.05 offer in large lots
4/21/25 Oracle (ORCL) opening sellers of 1400 May $117 puts at $3.45
4/21/25 Amazon (AMZN) seeing 4450 June $185 calls buying offer sweeps
4/21/25 Meta (META) with 1000 May $445 puts selling to open 12.68 to 13.45
4/21/25 Datadog (DDOG) notable buy 450 March 2026 $80 calls ITM $23.30
4/21/25 Taiwan Semi (TSM) size buy 39,600 August $135 calls as June $145 adjust
4/21/25 Crowdstrike (CRWD) buyers of 4000 May $420 calls at $3.40 in large blocks
4/21/25 Vertiv (VRT) 7950 Dec $55 puts sell to open $8.81 adjusting the July $65 puts