Topics covered:
1) 0:00 Announcements
2) 0:15 Market Commentary and Index Review (Nasdaq Composite, S&P 500, and Russell 2000)
3) 11:15 FOCUS LIST: NVDA, META, NFLX, SPOT, PLTR, GEV, RKLB, UBER
4) 15:10 Stock Review – Aerospace/Defense: SHLD (ETF), XAR (ETF), KTOS, GE, PL, ATRO
5) 17:35 Stock Review – Software: IGV (ETF), MSFT, ORCL, NBIS, VEEV, APP, SNOW, TWLO, CRWD, RBRK, NET, U, DOCS
6) 22:10 Stock Review – Semiconductors: SMH (ETF), TSM, AVGO, KLAC, LRCX, CLS, SANM, JBL, FN, AMSC, CRDO, ALAB, ANET, LASR, LITE, WDC
7) 26:25 Stock Review – Energy/Data Center related: VST, CEG, VRT, NRG, WWD, POWL, BE, MOD, OKLO, SMR, NNE
8) 28:35 Stock Review – Others/General Ideas/Commentary: TSLA, GOOGL, EQT, BROS, HNGE, Z, TKO, IONQ, RIGL, TARS, MRUS, GH, LQDA, SHOP, DASH, RBLX, HOOD, SOFI, RDDT, MP, METC, AREC, USAR, REMX (ETF), IBIT
9) 36:50 Conclusion/Summary

Market Summary:
In this video, I summarize the Market Commentary section into four points: 1) Longer-term, we are still in a strong bull market powered by the growth in AI. Shorter-term, I am still expecting a range/consolidation. Know your timeframe and do what works for you. 2) September tends to be a seasonally weak month, so please be open-minded that we could see continued consolidation and possibly higher volatility. I include this statistic from Wayne Whaley: https://x.com/WayneWhaley1136/status/1961850130514002155 3) While going through my screens, I noticed that many stocks are consolidating near their 50-day moving averages. I prefer to be patient and see how they react around this key institutional support level. 4) Don’t get too bearish because a) We’re not seeing heavy volume selling from the institutions on the index level and b) We just had a 20% correction in Feb/March of this year.

For me, the conclusion is the same. I’m comfortable with my investment levels (approximately 60% invested) while waiting for better entry points. As I’ve mentioned in recent videos, I’m noticing some great relative strength, but I would like to give more time for bases to complete and to provide safer entry points. Thank you and enjoy the rest of your long weekend.

Unusual Options Activity:
8/29/25 S&P 500 ETF (SPY) massive roll into month end sees 109,000 Feb $600 puts buy at $12.72, adjusting the Jan $575 puts
8/29/25 Fidelity Bitcoin ETF (FBTC) seeing 2750 Jan 2027 $100/$150 call spreads buy at $13.15
8/29/25 Energy ETF (XLE) 3000 Dec 2026 $95 calls sell at $6.77 to buy the $81 puts at $4.85
8/29/25 Gold ETF (GLD) spreads buying 80,000 Sept $320 calls at $3.60 and sells 52K of the $330 calls at $1.05, adjusting previous buys
8/29/25 Gold Miners ETF (GDX) buyer of 3500 June $80 calls at $3.12
8/29/25 Celsius Holdings (CELH) sees a buy write sell 5000 October $70 calls at $1.54
8/29/25 Burlington Stores (BURL) seeing more opening put sales with 2925 Oct 10th $255 puts sold for $2.25
8/29/25 Wynn Resorts (WYNN) sees 850 Jan $110 puts sell to open $4.45
8/29/25 Home Depot (HD) opening sale of 1000 March $340 puts at $6.25
8/29/25 Visa (V) sees 2150 Oct $315/$310 bull put spreads sell for $0.26
8/29/25 Affirm (AFRM) sees opening sales of 2000 Sept $87.50 puts at $3.80 to $3.60
8/29/25 Eli Lilly (LLY) large opening sale of 1650 Jan $810 puts at $101.80 as the $800 short puts adjust
8/29/25 Intuitive Surgical (ISRG) 1100 Oct 10th (W) $430 puts sell to open $3.40
8/29/25 Medtronic (MDT) buyers of 3000 Oct $95 calls 1.14 to 1.21 with recent insider buy
8/29/25 GlaxoSmithKline (GSK) with 4000 Oct $38 puts sell to open $0.79
8/29/25 CSX (CSX) another 4200 June 2027 $32.50 calls bought $4.90
8/29/25 Bloom Energy (BE) 1780 Feb $45 puts sell to open at $6.80 bids
8/29/25 Dell (DELL) buyer of 300 May $120 calls at $17.90
8/29/25 Dell (DELL) also sees an opening seller of 1000 May $90 puts at $3.65
8/29/25 Nvidia (NVDA) buyers of 8000 June 2027 $150 ITM calls at $55.15
8/29/25 Taiwan Semi (TSM) opening sales in size 10,000 Sept 26th (W) $235 puts $8.10
8/29/25 Advanced Micro (AMD) 2250 Oct 175 calls are bought $5.79
8/29/25 Alibaba (BABA) buyer of 2000 June $200 calls at $5.25
8/29/25 Unity Software (U) 2150 Feb $33 puts sold to open $3.85
8/29/25 Snowflake (SNOW) 800 Nov $200 short puts trade 4.68
8/29/25 SanDisk (SNDK) buyer 1000 Dec $60 calls 2.55
8/29/25 D-Wave Quantum (QBTS) 1150 April $14 short puts opening 3.28 to 3.23
8/29/25 On Semi (ON) 3000 Jan $47 puts sold to open 3.85
8/29/25 Palantir (PLTR) opening seller of 1000 Dec 2027 $120 puts at $26.50
8/29/25 Oracle (ORCL) buyer of 1000 Nov $270 calls at $5.84
8/29/25 Nebius Group (NBIS) buyer of 500 Dec $75 calls at $9.50 offer
8/29/25 Ormat Technologies (ORA) opening sales of 2000 March $85 puts at $3.27 to $3.15
8/28/25 S&P 500 ETF (SPY) buyers of 28,000 Oct 31st $665 calls at $6.70 as the Aug 29th $585 calls adjust
8/28/25 S&P 500 ETF (SPY) opening seller 1000 Feb $605 puts at $12.68
8/28/25 Nasdaq 100 ETF (QQQ) buyers of 2000 Oct 3rd $582 calls at $8.79 to $9
8/28/25 Ethereum ETF (ETHA) buyers of 4900 Jan $50 calls at $2.20 up to $2.40
8/28/25 Grayscale Ethereum ETF (ETH) buyer of 5000 Jan $42 calls at $8.40
8/28/25 Bitcoin ETF (IBIT) seeing 8500 Oct $63 calls bought at $4.30 to $4.40 offers, over $3.5M
8/28/25 Bitcoin ETF (IBIT) also an opening seller of 1000 June 2027 $60 puts at $11.91
8/28/25 Homebuilders ETF (ITB) buyer of 1000 Jan $114.01 calls at $5.98 as Oct calls adjust
8/28/25 Gold ETF (GLD) massive buyers of 78,000 Oct $330/$350 call spreads at $2.19
8/28/25 Deckers Outdoors (DECK) buyer 3000 Sept 12th (W) $117 calls for $1M adjusting $114 strike
8/28/25 Tesla (TSLA) 3250 Sept 26th (W) $370 calls bought $8.20 to $8.25 and spread with Sept 12th (W) $330 put sales
8/28/25 Costco (COST) with 800 March $950 puts bought $58 to $58.50 for over $4.5M
8/28/25 Under Armour (UAA) opening sales of 1100 Jan 2027 $10 ITM puts at $4.95 after recent insider buys
8/28/25 Roblox (RBLX) 1200 Nov 97.50 short puts open 3.35
8/28/25 AppLovin (APP) 385 Oct $510 calls bought $1M
8/28/25 AppLovin (APP) buyer of 1000 Oct $480 calls at $41 as the Nov $420 calls adjust
8/28/25 Wynn Resorts (WYNN) adjustment rolls the 34K Dec $95 calls up to buy 50,000 Dec $120 calls at $12.90, over $66M
8/28/25 Uber (UBER) 1000 Sept 2026 $115 calls buy $8.90
8/28/25 Bloom Energy (BE) buyer 1500 Jan 2027 55/75 call spreads
8/28/25 Bloom Energy (BE) late day sweep buyers 3000 Sept 26th (W) $60 calls near $3.50
8/28/25 Visa (V) sees 250 Sept 2026 $370/$350 bull risk reversals open $2 debit
8/28/25 Wells Fargo (WFC) block 1800 March $70 puts sold to open $2.20
8/28/25 Krystal Biotech (KRYS) sees 500 Oct $140 puts sell to open $3.30 to $3.20
8/28/25 Alnylam Pharma (ALNY) opening sale of 225 Jan $420 puts at $27.50, adjusts the $350 short puts
8/28/25 Danaher (DHR) 500 Jan 2027 $175 puts sell to open 12.40
8/28/25 Redwire (RDW) buyer 1400 Jan 2027 $12 calls $3 to $3.10
8/28/25 CSX (CSX) 4000 June 2027 $32.50 calls buying $5 to $5.10
8/28/25 CSX (CSX) also 2500 Jan 2026 $32.50 calls buying $2.39
8/28/25 MP Materials (MP) opening sales of 2000 Oct 10th $60 puts at $1.60
8/28/25 Google (GOOG) large buyers of 1500 Dec 2026 $260/$310 call spreads at $9
8/28/25 Google (GOOG) opening sellers of 9900 March $215 puts at $18.30 to $18 bids
8/28/25 Google (GOOG) 10,000 Oct $225 calls bought as Sept 200 adjust
8/28/25 Google (GOOGL) 1000 Dec 2027 $360 calls bought 8.90 to 9.15
8/28/25 Alibaba (BABA) buyers of 1000 Jan 2027 $125 calls at $21.80 offer sweeps
8/28/25 Western Digital (WDC) buyer 510 June $72.50 ITM calls at $17.25 as the $70 calls adjust
8/28/25 Celestica (CLS) 1100 Sept $217.50 calls bought as some lower strikes adjust up
8/28/25 Broadcom (AVGO) Nov $300 puts being sold 2500X for $5M
8/28/25 Nvidia (NVDA) 4000 April $110 short puts open 2.06
8/28/25 Nvidia (NVDA) seeing over 12,000 Oct $180 puts selling $9.50
8/28/25 Nvidia (NVDA) also 10K Nov $180 puts sell for $13.30 to $13.10 bids
8/28/25 Astera Labs (ALAB) 2000 Sept 26th (W) $157.5 puts sell to open 2.85
8/28/25 Arista Networks (ANET) 1000 Sept $142 calls bought 3.88 spread vs. 155 calls
8/28/25 HP Enterprise (HPE) buyer of 30,000 Nov $25 calls at $1.06 as the $23 calls adjust
8/28/25 Snowflake (SNOW) buyer of 500 April $210 ITM calls at $50.20
8/28/25 Vistra (VST) opening sale 2000 March $160 puts 11.60

S&P 500 Index Note:
At 5:15PM EST on September 5, any membership changes to the S&P 500 index will be announced. BAML notes that MKTX is a likely candidate to be dropped from the index leaving an additional opening (the FL buyout is already one opening). Potential inclusion names remain APP and HOOD, while TW and ARES are two financial candidates as well. Other potential names include: PINS, CVNA, LNG, VEEV, VRT, DUOL, RDDT. Less likely, but names that meet the criteria include: ZM, TOST, HEI, EME, GWRE.