Topics covered:
1) 0:00 Announcements
2) 0:40 Market Commentary and Index Review (Nasdaq Composite, S&P 500, and Russell 2000
3) 5:50 Stock Review – Aerospace/Defense: UFO (ETF), RKLB, ASTS, PL, BKSY, VSAT, LUNR, SATS, FLY
4) 10:55 Stock Review – Semiconductors and Data Storage: SMH (ETF), NVDA, TSM, KLAC, AMAT, TSEM, AEIS, TER, Q, MU, STX, WDC, SNDK
5) 14:05 Stock Review – Electronic/Energy/Data Center related: LITE, JBL, VRT, GEV, CIEN, GLW, AAOI, AXTI, MOD
6) 16:00 Stock Review – Biotech/Medical: XBI (ETF), MRK, EWTX, PCVX, CGON, UTHR, DNTH, PAHC
7) 18:35 Stock Review – Others/General Ideas/Commentary: DVN, TDW, XOM, ALB, DELL, NBIS, SPHR
8) 20:45 Conclusion/Summary

Market Summary:
The major indexes are still below their 200-day moving averages. Therefore, the theme remains the same: Be defensive and be patient until we see signs of better health. Today, Tuesday March 31, was a step in the right direction and is considered Day 1 of a rally attempt. Of course, we are not out of the woods yet and I would still like to see a follow through day next week. In the meantime, I’m still going to keep things light, look for signs that market conditions are improving, and maintain a watch list of stocks that are showing the best relative strength during this correction. If you are inclined to trade, please keep things light, as I am still expecting more volatility over the near-term. Also, please keep in mind that protecting your confidence is just as important as protecting capital during market corrections. I want members to be mentally ready for the next power trend. It will simply require patience until it develops. Thank you and good luck for the remainder of the week.

Unusual Options Activity:
3/31/26 Nasdaq 100 ETF (QQQ) buyers of 2000 Jan $575 calls at $57
3/31/26 Nasdaq 100 ETF (QQQ) 3250 Sept $515 puts sold to open $20.10
3/31/26 Nasdaq 100 ETF (QQQ) buyer 2000 May 1st (W) $594 calls $8.49
3/31/26 Nasdaq 100 ETF (QQQ) buyer of 1200 Dec 2028 $700 calls at $61.10
3/31/26 Semiconductors ETF (SOXX) 1175 Jan $296 calls bought for $8M
3/31/26 Retail ETF (XRT) 3000 May 77 short puts open for 2.25
3/31/26 Gold ETF (GLD) 1000 August $375 short puts open $11.65
3/31/26 Silver ETF (SLV) 5000 April 10th $68 calls buy at 3.15
3/31/26 China ETF (FXI) buyer 7000 May 35/37 calls spreads
3/31/26 Tesla (TSLA) large opening sellers of 1000 March 2027 $330 puts at $46.30 to $46.05 bids
3/31/26 Tesla (TSLA) also buyers of 3500 May $360 calls at $27
3/31/26 Home Depot (HD) 1750 June $300 short puts trade for 8.89 as May 320 adjust
3/31/26 Disney (DIS) 475 Nov $95 short puts open 8.65
3/31/26 Schwab (SCHW) 770 August $82.5 short puts opening 3.45
3/31/26 AmEx (AXP) buyer of 400 June $300 calls at $22.20
3/31/26 Occidental Petro (OXY) 2100 April 24th (W) $60 short puts open 0.65
3/31/26 Vistra (VST) 900 August $130 short puts trade 10.95 to open
3/31/26 United Rentals (URI) 1200 May $650 short puts opening with April $700 adjusting
3/31/26 Planet Labs (PL) buyer 1300 July $40 calls 2.75 to 2.95
3/31/26 Planet Labs (PL) large opening sales of 2000 Oct $31 puts at $10.20 bids
3/31/26 Intuitive Machines (LUNR) 2000 Sept $20 calls buy at $4.75 to $4.80
3/31/26 Palantir (PLTR) buyer 30,000 June $155 calls 12.34, rolls May 150
3/31/26 Nebius Group (NBIS) 2000 Sept $70 puts being sold to open 9.25
3/31/26 CoreWeave (CRWV) opening seller 1000 Jan $55 puts at $10.60
3/31/26 Google (GOOGL) 2000 August $230 short puts opening 7.10
3/31/26 Nvidia (NVDA) buyer 1000 Dec 2028 $285 calls 27.10 to 27.30
3/31/26 Broadcom (AVGO) 800 Dec $240 puts sold $20.05
3/31/26 Broadcom (AVGO) 4000 Jan 100 short puts opening
3/31/26 Broadcom (AVGO) buyer 1000 August $380 calls $13.40
3/31/26 Broadcom (AVGO) also June 2027 $390 calls with buyers 2500X
3/31/26 Marvell Tech (MRVL) 1000 July $90 puts sell to open 9.20
3/31/26 Micron (MU) buyers of 6400 June $400 calls at $17.25 to $18.49
3/31/26 Micron (MU) 500 March $290 puts sell to open $58.20
3/31/26 Taiwan Semi (TSM) 2000 Sept $400/$240 bull risk reversals trade for $6.75
3/31/26 Taiwan Semi (TSM) buyers of 7500 June $370 calls at $11.64 to $12.58
3/31/26 Taiwan Semi (TSM) buyer 30,000 June $300 calls $49.20 as May 330 adjust
3/31/26 Lumentum (LITE) 500 June $390 short puts open 20.50
3/31/26 SanDisk (SNDK) buyers of 1500 Jan $1140 calls at $94.27 to $101
3/31/26 Globalstar (GSAT) 550 Jan 2028 $70 calls bought near $13.90
3/30/26 Nasdaq 100 ETF (QQQ) buyer 1800 Sept $590 calls for $30.80
3/30/26 Nasdaq 100 ETF (QQQ) large opening seller of 1000 Sept 2027 $570 ITM puts at $60.75
3/30/26 Russell 2000 ETF (IWM) opening seller of 2000 Dec 2028 $240 puts at $30.35
3/30/26 Russell 2000 ETF (IWM) opening sale of 2000 March 2027 $235 puts at $20.50
3/30/26 Ultra QQQ ETF (TQQQ) buyer 5000 Jan 2028 $40 calls $13.83
3/30/26 Ark Innovation ETF (ARKK) 1000 Sep $60 short puts trading $5.80
3/30/26 Ark Innovation ETF (ARKK) also Jan $56 calls ITM bought 3450X for $5M
3/30/26 Energy ETF (XLE) 3000 May 58 short puts open 1.09
3/30/26 Financials ETF (XLF) 3500 Dec $38 short puts opening
3/30/26 Gold ETF (GLD) 1500 Sept $360 short puts open $11.62
3/30/26 Turkey ETF (TUR) buyers of 1050 August $45 calls at $1.30
3/30/26 Disney (DIS) 2500 May 105 calls buy 1.58 to 1.60
3/30/26 Berkshire Hathaway (BRK.B) buyers of 360 Jan $430 calls at $77 as May $480 adjust
3/30/26 Vertex Pharma (VRTX) 600 July 270 short puts open 7.10
3/30/26 J&J (JNJ) 600 Dec $270 calls bought 10.53 spread with $210 short puts in bull r/r
3/30/26 United Therapeutics (UTHR) 3000 May $530 puts sell to open $9.30
3/30/26 United Therapeutics (UTHR) also 500 Nov $680 calls sell to open $38.50
3/30/26 Cheniere Energy (LNG) June $320/$260 bull risk reversals open at $9.40 debit
3/30/26 Baker Hughes (BKR) buyer 775 Dec $80 calls at $3.50 offers
3/30/26 Halliburton (HAL) opening sales of 650 Jan 2028 $30 puts at $3.40
3/30/26 Bloom Energy (BE) 1000 Dec $110 puts sell to open $34.46
3/30/26 Freeport McMoran (FCX) opening sale 1800 August $43 puts at $2.56
3/30/26 CF Industries (CF) buyer 440 June $140 calls $650K
3/30/26 GE Vernova (GEV) 1100 May $590 short puts open for 6.85
3/30/26 Caterpillar (CAT) large opening seller of 500 July $600 puts at $32.60
3/30/26 Google (GOOGL) 2400 Nov $210 short puts open $7.82
3/30/26 Dell (DELL) 3000 April 187.5/160 bull risk reversals for a $4.90 credit
3/30/26 Marvell Tech (MRVL) 2000 June $105 calls buy $5.82, adjusting $115 calls
3/30/26 Tower Semi (TSEM) 1000 June $170 short puts open ITM
3/30/26 Taiwan Semi (TSM) buyer 1000 January 2028 $500 calls $39.65
3/30/26 Taiwan Semi (TSM) buyer of 300 Dec 2028 $250 ITM calls at $135
3/30/26 Micron (MU) 1500 March 2027 $195 short puts open 19.55
3/30/26 Lumentum (LITE) buyers into dip for 850 June $500 calls at $233.50 to $237.50
3/30/26 SanDisk (SNDK) buyer 1000 April $670/$750 call spreads
3/30/26 AST SpaceMobile (ASTS) buyer 1150 July 100/110 call spreads