Topics covered:
1) 0:00 Announcements
2) 0:15 Market Commentary and Index Review (Nasdaq Composite, S&P 500, and Russell 2000)
3) 14:30 Comments on Active Management
4) 18:15 RELATIVE STRENGTH LIST: NFLX, PLTR, SFM, UBER, GH, CRWD, SPOT, RKLB
5) 21:40 Stock Review – Aerospace/Defense: SHLD (ETF), HWM, KTOS, MRCY, DRS, GE
6) 22:40 Stock Review – Biotech/Medical: WGS, GRAL, VRTX, RYTM, SMMT, ADMA, TGTX, SWTX, TARS
7) 26:20 Stock Review – Others/General Ideas/Commentary: RBRK, NOW, SAP, NGVC, DPZ, MNST, TEM, BYDDF, GEO, GEV, LLY, AXON, BROS, DASH, TKO
8) 29:45 Conclusion/Summary

Market Summary:
Current POSITIVES in the market: 1) We had a follow through day (FTD) on Tuesday, April 22, and a second FTD on Wednesday, April 23. In addition, we had various breadth thrusts over the past 10 days (including a Zweig Breath Thrust) and I review them in this video. 2) The price action in some growth stocks continues to improve. The relative strength names that were highlighted in Wednesday’s MidWeek Video continue to act well. 3) Sentiment is very poor. I like how the NAAIM number dropped to 35 two weeks ago and only moved up to 40 this past week, showing that many are still skeptical. 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.

CONCLUSION: For me, I am approximately 50% invested. I’m still not sure if this is a short covering rally back to the 50-day that will eventually fail, or if this is the start of a new powertrend. By staying 50%, if the market moves higher, I will hopefully participate, and if we see more downside, I will hopefully be able to contain the volatility with the 50% cash position. As I’ve mentioned before, this type of active management isn’t for everyone, and I take a few minutes in this video to comment on it. As always, I encourage members to have your own plan, know your own timeframe, and stick to your overall investment objectives. Thank you and enjoy the rest of your weekend.

Unusual Options Activity:
4/25/25 Nasdaq 100 ETF (QQQ) large buys of 3200 July $530 calls at $3.43 offers
4/25/25 Russell 2000 ETF (IWM) seeing 2000 July $209/$177 bull risk reversals open at $0.60 credits
4/25/25 Bitcoin ETF (IBIT) sees 4000 June $59 calls buy at $2.73 to $2.76 offers
4/25/25 Bitcoin ETF (IBIT) buyers of 2600 June 2026 $55 calls at $14.20 to $14.45, over $3.5M
4/25/25 Bitcoin ETF (IBIT) also a buyer of 1000 Dec $85 calls at $3.20 offer
4/25/25 Tesla (TSLA) 3700 March 2026 $540 calls buying for $4.45M
4/25/25 Tesla (TSLA) 3800 Dec 2027 $190 calls bought for $57.5M as June 2026 $150 calls adjust
4/25/25 Chipotle (CMG) 10,500 June $44 puts sell to open 0.65
4/25/25 Cava Group (CAVA) 5000 July $60 puts sold to open $1.18
4/25/25 Uber (UBER) 2250 far OTM July $110 calls bought $0.32
4/25/25 Uber (UBER) buyer 5000 Oct $105 calls $2
4/25/25 Uber (UBER) sales of 1700 July $77.50 puts at $5.40 bids
4/25/25 Shopify (SHOP) 1000 Jan $95 puts sold $15.50
4/25/25 Coinbase (COIN) buyer 8500 May 2nd (W) $217.5/$240 call spreads
4/25/25 Coinbase (COIN) also buyers of 1600 Jan $290 calls at $25.45 offers in size lots
4/25/25 MicroStrategy (MSTR) sees 1000 July $350 puts sell to open $46.25 to $46
4/25/25 Amazon (AMZN) June 2027 $180 calls another 2100X bought $47.90
4/25/25 Microsoft (MSFT) joins the June 2027 call buy names with 1667 $390 calls bought $12M
4/25/25 Google (GOOGL) seeing more buyers of 2400 June 2027 $155 calls at $42
4/25/25 Google (GOOGL) 2000 Jan $140 puts sell $7.10
4/25/25 Google (GOOG) large opening sale 5000 Jan $165 puts $14.95
4/25/25 Nvidia (NVDA) 2000 Oct $80 deep ITM calls bought at $33 to $33.30
4/25/25 Oracle (ORCL) buyer of 1300 August $180 calls at $1.47
4/25/25 Qualcomm (QCOM) opening sales of 1000 March $125 puts a $10.25 to $9.85 bids
4/24/25 China Internet ETF (KWEB) block of 10,000 June $32 calls sell to open $2.11
4/24/25 Russell 2000 ETF (IWM) buyer 4000 Oct $195/$215 call spreads at $8.09
4/24/25 Russell 2000 ETF (IWM) opening sales 2000 August $187 puts 8.31
4/24/25 Hershey (HSY) opening sale of 600 Sept $155 puts at $8.30
4/24/25 Hims & Hers Health (HIMS) opening sales of 1500 Jan $19 puts at $3.30
4/24/25 Ralph Lauren (RL) buyer 2000 May $220/$250 call spreads
4/24/25 Uber (UBER) with 2250 May 9th $69 puts sell to open at $1.17 bids
4/24/25 Uber (UBER) 5500 May 2nd (W) $78 calls being bought $1.37
4/24/25 Uber (UBER) 2000 OTM Sept $105 calls bought $1.39
4/24/25 Expedia (EXPE) 525 Jan 2027 $95 puts sell to open 7.20
4/24/25 Bloom Energy (BE) 1800 July $18 puts sell to open 2.40
4/24/25 Robinhood Markets (HOOD) more confident bulls as 2000 May 30th (W) $53 ITM puts sell to open 8.14
4/24/25 Visa (V) with 800 July $315 puts sold 9.50 to open
4/24/25 Eli Lilly (LLY) 515 June 2027 $830 calls open for $10.3M
4/24/25 Boston Scientific (BSX) 7000 June $90 puts sell to open at $0.70 and buyers of the $105 calls at $2.55
4/24/25 Rocket Lab (RKLB) buyer 2150 July $27 calls 1.60
4/24/25 GE Vernova (GEV) sees 1200 May 380/420 call spreads buy to open
4/24/25 Caterpillar (CAT) opening sale of 1000 Jan $410 calls at $4.60 to $4.50
4/24/25 Honeywell (HON) 850 Sept $190 puts selling to open 8.50 to 8.20
4/24/25 Amazon (AMZN) massive buy 2575 June 2027 $180 calls $43.65 for $11M
4/24/25 Google (GOOGL) 2750 June 2027 $155 calls bought up to $36.90 for $10M
4/24/25 Netflix (NFLX) 300 June 2027 $1040 calls bought for $10M
4/24/25 Arm Holdings (ARM) with 2400 June 2027 $105 calls bought $41.50
4/24/25 Apple (AAPL) 5000 July $200 puts sell 10.65 to 10.30
4/24/25 Meta (META) size buys 4000 May $550 calls $19.25 to $19.30
4/24/25 Meta (META) also 400 Dec 2027 $640 calls bought for $4M
4/24/25 Palantir (PLTR) buyers of 800 Dec 2026 $140 calls at $26.95 offer
4/24/25 Microsoft (MSFT) massive buys 19,000 August $430 calls $7.85 to $8.50
4/24/25 Palo Alto (PANW) 300 Dec 160 puts sold to open 14.85
4/24/25 Astera Labs (ALAB) sees 330 Jan 2027 $80 calls bought at $19.03 to $19.65
4/24/25 Taiwan Semi (TSM) 1400 Jan 2027 $145 puts sold to open at $20.77 for near $3M in premium sold
4/24/25 Unity Software (U) buyer of 2500 Nov $23 calls at $4.40 offers
4/24/25 Vistra (VST) buyer 1000 Oct $150 calls 12.75