Notice: The Daily Setups are provided for informational purposes only and are not intended as a stock-picking service. The charts and information provided are intended to aid research and analysis and should only be used as indicators. They should not be considered as a direct trigger to buy or sell any security. The creator assumes no responsibility for any actions readers take and strongly advises each individual to fully understand the risks and potential consequences before making any investment decisions. Please note that the charts shared are not intended as signals to buy or sell but as a tool to add to your watchlist and analyze according to your trading ability. Remember that not all charts will result in buy or sell actions at any time.
Just a friendly reminder: Please pay close attention to the Daily Setups and Workspace scan results for potential future additions to stay ahead of the game.
If you’re facing challenges understanding the Daily Setups or need help crafting a trading strategy, don’t hesitate to ask for assistance. You can contact me via email at info@setyourstop.com or reach me through the Workspace. Let’s schedule a meeting to address your specific requirements and provide you with the guidance you need.
Unusual Activity Report
This daily report focuses on three key components that can lead to market momentum: unusual options activity, insider buying, and institutional sponsorship. By scanning for these signals each day, we uncover potential stock movements driven by notable trades, insider transactions, and institutional investments. Using advanced algorithms and proprietary research methods, we sift through vast amounts of data to identify unique opportunities, offering timely insights highlighting emerging market momentum.
Disclaimer: All data and information presented in this report are sourced from publicly available materials intended for informational purposes only. The content is not a recommendation to buy or sell securities and should not be relied upon as financial advice. Readers are encouraged to conduct their own research before making any investment decisions.
Standout Options Trades
SPDR S&P 500 ETF (SPY)
Sentiment: Mixed
Options Activity: Notable put selling for Nov 15 and Dec 20 expiries, with additional large put buys for Nov 29
Total Values: $9,956,090 combined across key trades
Strike Price Range: 551 to 615
Expectations: Potential upside bias if put-selling volume persists
Market View: Sentiment remains mixed with significant hedging activity and long-term positions.
Tesla Inc. (TSLA)
Sentiment: Mixed
Options Activity: Heavy call selling and call buying observed for expiries from Oct 25, 2024, to Jan 16, 2025
Total Values: $17,371,580 across call positions
Strike Price Range: 192.5 to 330
Expectations: Potential downside if call-selling pressure continues
Market View: Moderate bearish sentiment amid heavy volume in sold calls.
SoFi Technologies, Inc. (SOFI)
Sentiment: Bullish
Options Activity: Consistent call buying for Jan 17, 2025, and smaller put sells for Nov 1
Total Values: $1,587,897
Strike Price Range: 8 to 13
Expectations: Price stabilization with possible upside
Market View: Primarily bullish with active call buying driving sentiment.
NVIDIA Corporation (NVDA)
Sentiment: Bearish
Options Activity: Sustained call selling across multiple expiries into 2025
Total Values: $20,578,150 in call positions
Strike Price Range: 140 to 170
Expectations: Downside pressure with significant call selling
Market View: High put/call ratio suggests a bearish outlook.
Apple Inc. (AAPL)
Sentiment: Mixed
Options Activity: Call and put buying activity around key levels for Nov 1 and Apr 17 expiries
Total Values: $2,745,000 across key trades
Strike Price Range: 232.5 to 270
Expectations: Neutral outlook pending follow-through in put selling
Market View: Balanced sentiment with hedging and directional bets.
AST SpaceMobile, Inc. (ASTS)
The recent large call buys in ASTS suggest a significant bullish stance by traders, with high-dollar trades indicating confidence in upward momentum for the stock. Key takeaways include:
High Volume in December Expirations: Several substantial purchases were made in December 2024 expiration calls at the $20 strike. Notably, these include trades valued at $434,995, $429,970, $231,340, and $436,292—each marked as size greater than prior open interest. This suggests that these are likely new positions aimed at capturing a potential rise in ASTS, as these options contracts now reflect increased open interest and significant investment.
Strong Intraday Activity in Near-Term Calls: Alongside the December calls, there were intraday purchases in October calls with strikes at $27 and $27.5, showing short-term bullish sentiment. The immediate expiration highlights speculative positioning, possibly expecting imminent price movement. The substantial volume in these multi-sweep and block trades further underscores the urgency among buyers.
Strategic Positioning Above Current Market Levels: With trades occurring around $26.70 to $26.80, the chosen strikes for both near- and mid-term options reflect optimism in ASTS pushing significantly higher. This suggests traders may not only be looking for moderate gains but possibly eyeing a breakout or significant uptrend.
Multi-Sweep Orders: The use of multi-sweep orders, prioritizing speed across exchanges, underlines a strong conviction to establish exposure in ASTS without delay. This buying method implies a proactive approach, potentially anticipating an upcoming catalyst.
Overall, the positioning in ASTS reflects strong speculative interest, with larger traders targeting both near- and mid-term gains. The notable investment in December expiration calls and the urgency in shorter-term trades suggest confidence in a bullish move for ASTS in the coming weeks.
Insider Transactions
Each day, insider transactions provide insights into the movements of key executives and shareholders within various companies. These transactions can signal confidence in future performance or a need to liquidate holdings. Today’s report identified the most significant insider purchases and sales, highlighting influential figures and companies that made notable moves. Let’s take a look at some of today’s standout transactions.
US Insider Purchases
Ingram Micro Holding Corp (INGM)
Buyer: Michael Zilis (Executive VP & CFO)
Shares Purchased: 28,250 (+∞%)
Price: USD 22.00
Total Value: USD 621,500
Ingram Micro Holding Corp (INGM)
Buyer: Alain Monie (Non-Executive Director)
Shares Purchased: 227,000 (+20.5%)
Price: USD 22.00
Total Value: USD 4,994,000
Kayne DL 2021, Inc.
Buyer: UAW Chrysler Retirees Medical Benefits Plan (Large shareholder)
Shares Purchased: 2,358 (+10.1%)
Price: USD 5,259.00
Total Value: USD 12,399,775
Kayne DL 2021, Inc.
Buyer: UAW Chrysler Retirees Medical Benefits Plan (Large shareholder)
Shares Purchased: 1,431 (+10.1%)
Price: USD 5,259.00
Total Value: USD 7,523,999
PBF Energy Inc (PBF)
Buyer: Control Empresarial de Capitales S.A. de C.V. (Large shareholder)
Shares Purchased: 287,100 (+1.2%)
Price: USD 31.91
Total Value: USD 9,160,528
Rocky Mountain Chocolate Factory Inc (RMCF)
Buyer: Jeffrey R. Geygan (Interim CEO, Large shareholder)
Shares Purchased: 163,376 (+10.9%)
Price: USD 2.60
Total Value: USD 424,990
US Insider Sales
Philip Morris International Inc (PM)
Seller: Andre Calantzopoulos (Chairman)
Shares Sold: 101,918 (-9.6%)
Price: USD 129.85
Total Value: USD 13,234,052
General Mills Inc (GIS)
Seller: Jeffrey Harmening (Chairman & CEO)
Shares Sold: 46,500 (-11.6%)
Price: USD 68.61
Total Value: USD 3,190,351
Altair Engineering Inc (ALTR)
Seller: George J. Christ (Large shareholder)
Shares Sold: 69,096 (-93.8%)
Price: USD 107.08
Total Value: USD 7,398,758
Carvana Co (CVNA)
Seller: Ernest C. Garcia II (Large shareholder)
Shares Sold: 37,146 (-75.2%)
Price: USD 197.79
Total Value: USD 7,346,936
Travelzoo (TZOO)
Seller: Azzurro Capital Inc (Large shareholder)
Shares Sold: 90,000 (-1.9%)
Price: USD 15.14
Total Value: USD 1,362,600
Hilton Worldwide Holdings Inc (HLT)
Seller: Michael W. Duffy (See Remarks)
Shares Sold: 14,357 (-38.6%)
Price: USD 235.73
Total Value: USD 3,384,393
CDN Insider Purchases
ReGen III Corp. (formerly “Gen III Oil Corporation”)
Buyer: William Bradford White (Non-Executive Director, 10% Security Holder)
Shares Purchased: 500,000 (+5.1%)
Price: CAD 0.20
Total Value: CAD 100,000
Gold Terra Resource Corp. (YGT)
Buyer: Gerald Panneton (Senior Officer)
Shares Purchased: 2,000,000 (+106.7%)
Price: CAD 0.05
Total Value: CAD 100,000
Quebec Innovative Materials Corp. (QIMC)
Buyer: John Ioannis Karagiannidis (Non-Executive Director)
Shares Purchased: 84,500 (+1.6%)
Price: CAD 0.39
Total Value: CAD 33,200
Lions Gate Entertainment Corp. (LGF.A)
Buyer: Liberty 77 Capital L.P. (Large Shareholder)
Shares Purchased: 326,723 (+7.5%)
Price: USD 6.71
Total Value: USD 2,192,181
Vision Marine Technologies Inc. (VMAR)
Buyer: Xavier Montagne (Non-Executive Director)
Shares Purchased: 26,316 (+11800.9%)
Price: USD 3.80
Total Value: USD 100,001
CDN Insider Sales
Prime Mining Corp. (PRYM)
Seller: Paul Bristol Sweeney (Non-Executive Director)
Shares Sold: 500,000 (-40.0%)
Price: CAD 2.00
Total Value: CAD 1,000,000
VersaBank (VBNK)
Seller: Brent Tyler Hodge (Senior Officer)
Shares Sold: 1,800 (-26.1%)
Price: CAD 20.16
Total Value: CAD 36,288
VersaBank (VBNK)
Seller: Nikola Kristo (Senior Officer)
Shares Sold: 800 (-8.2%)
Price: CAD 19.85
Total Value: CAD 15,880
Oceanic Iron Ore Corp. (FEO)
Seller: Gordon Keep (Executive Director)
Shares Sold: 165,000
Price: CAD 0.20
Total Value: CAD 32,175
Tantalex Lithium Resources Corporation (TTX)
Seller: Musk Ventures Ltd. (Large Shareholder)
Shares Sold: 198,000 (-0.2%)
Price: CAD 0.02
Total Value: CAD 3,960
Institutional Spotlight: Strategic Moves from Leading Asset Managers Over the Past Week
This week’s institutional activity revealed substantial stakes from top asset managers, underscoring confidence in strategic sectors. Below, we highlight the most notable holdings, acquisitions, and percentage stakes, capturing each firm’s strategic focus.
Anat, Inc. (TTGT)
Opaleye Management Inc., led by James Silverman, secured a 13.30% stake in Anat (TTGT) with a 3,804,824-share purchase as of October 23, 2024. This substantial position underscores Silverman’s confidence in TTGT’s growth outlook.
SANUWAVE Health, Inc. (SNWVD)
A significant investment from Pershing Square Capital Management LP, under William Ackman, saw the acquisition of 944,132 shares in SANUWAVE Health (SNWV) for an 11.06% ownership on October 22, 2024. This notable holding highlights Pershing Square’s optimism about SANUWAVE’s market potential.
Seaport Entertainment (SEG)
Perceptive Advisors LLC, managed by Joseph Edelman, commands a substantial 40.10% ownership in Seaport Entertainment (SEG) with 5,023,780 shares as of October 22, 2024. This dominant position reflects Perceptive’s strong institutional backing and strategic commitment to SEG.
Inhibikase Therapeutics, Inc. (IKT)
Cormorant Asset Management LLC, led by Bihua Chen, acquired 6,799,944 shares of Inhibikase Therapeutics (IKT), securing a 9.99% ownership on October 22, 2024. This sizable stake signals significant interest in IKT’s therapeutic advancements.
Bright Minds Biosciences Inc. (DRUG)
With 850,000 shares purchased, Suvretta Capital Management LLC, led by Aaron Cowen, obtained an 18.79% ownership in Bright Minds Biosciences (DRUG) as of October 22, 2024. This large investment underscores Suvretta’s confidence in Bright Minds’ innovative approach within the biosciences sector.
ProKidney (PROK)
HMI Capital LLC, under Marco Hellman, secured 13,198,766 shares of ProKidney (PROK), equating to a 10.47% ownership on October 22, 2024, indicating a firm belief in PROK’s potential for robust returns.
nCino, Inc. (NCNO)
On October 21, Point72 Asset Management LP, directed by Steve Cohen, purchased 7,873,778 shares in nCino (NCNO), resulting in a 6.80% stake. Cohen’s investment reflects strategic interest in nCino’s expanding influence in financial technology.
Shoals Technologies Group, Inc. (SHLS)
Saba Capital Management LP, managed by Boaz Weinstein, took a 5.40% ownership stake in Shoals Technologies Group (SHLS) with 9,029,023 shares on October 21, 2024. This position indicates Weinstein’s confidence in Shoals’ role within the renewable energy space.
Neuberger Berman Next Generation Connectivity Fund (NBXG)
With an 8.44% ownership, Shah Capital Management under Himanshu Shah holds 6,650,860 shares in the Neuberger Berman Next Generation Connectivity Fund (NBXG) as of October 21, 2024, signaling sustained support for next-gen connectivity initiatives.
VEON Ltd. (VEON)
Magnetar Financial LLC, led by Alec Litowitz, invested in 4,950,027 shares of VEON (VEON), translating to a 7.01% stake on October 21, 2024. This strategic acquisition highlights positive sentiment toward VEON’s telecommunications services.
Comtech Telecommunications Corp. (CMTL)
Glenview Capital Management LLC, directed by Larry Robbins, maintains a dominant 40.06% ownership in Comtech Telecommunications (CMTL) with 19,291,965 shares as of October 18, 2024. Robbins’ significant holding emphasizes strong institutional backing for Comtech’s growth potential.
Alight, Inc. (ALIT)
Radcliffe Capital Management LP, led by Steven Katznelson, holds 31,962,563 shares in Alight (ALIT), amounting to a 5.97% stake as of October 18, 2024. This substantial position underscores Radcliffe’s commitment to Alight’s business service initiatives.
New Mountain Finance Corporation (NMFC)
Radcliffe Capital Management LP also reports 3,528,941 shares in New Mountain Finance Corporation (NMFC), representing 3.17% ownership as of October 18, 2024, maintaining its strategic presence in the financial sector.
Bitcoin Depot Inc. (BTM)
Jana Partners Management LP, with Scott Ostfeld at the helm, holds 791,981 shares in Bitcoin Depot (BTM), securing a 4.44% stake on October 18, 2024. This stake highlights Jana’s focused investment in the company’s long-term growth.
Lamb Weston Holdings, Inc. (LW)
Jana Partners has also expanded its stake in Lamb Weston (LW) to 7,131,339 shares, achieving 5.00% ownership as of October 18, 2024, demonstrating confidence in Lamb Weston’s market trajectory within the food industry.
Institutional Momentum Watchlists
Welcome to the Institutional Momentum Watchlist, an exclusive feature for our members. This list highlights stocks that have recently caught the attention of institutional investors, either through new purchases or significant additions. These stocks are selected based on promising technical setups that suggest potential momentum. Our systematic approach filters for opportunities where institutional sponsorship aligns with favorable technical conditions, offering a unique edge in your trading strategy. Keep an eye on this watchlist as we update it each weekend with the latest insights from the market.
Click on the CandleGlance chart to view it in full size. Find a chart that matches your criteria or interests. You can easily save it to your watchlist on StockCharts.com for further analysis and tracking or copy and paste the ticker list into your chart provider.
US Institutional Momentum Watchlist
EXPORT – US – Institutional Momentum Watchlist – 2024-10-25
Canadian Institutional Momentum Watchlist
EXPORT – CDN – Institutional Momentum Watchlist – 2024-10-25
AC.TO, ACB.TO, AIF.TO, ARX.TO, ATH.TO, BAM.TO, BDGI.TO, BDT.TO, BTE.TO, CAE.TO, CCO.TO, CEU.TO, CFP.TO, CIGI.TO, CIX.TO, CJ.TO, CLS.TO, CNQ.TO, CRDL.TO, CVE.TO, CXB.TO, DML.TO, DRX.TO, EDV.TO, EFX.TO, ERA.V, FM.TO, FNV.TO, FSV.TO, FSZ.TO, GLXY.TO, GPV.V, GTII.CA, HBM.TO, HITI.V, IFP.TO, IMO.TO, ITR.V, LAC.TO, LGO.TO, LIF.TO, LUN.TO, MDA.TO, MEG.TO, MX.TO, NVEI.TO, OBE.TO, OGI.TO, OR.TO, PPL.TO, PRL.TO, PTM.TO, PZA.TO, QBR/B.TO, SES.TO, SIA.TO, STLC.TO, STN.TO, SU.TO, TF.TO, TFPM.TO, TOT.TO, TOU.TO, TOY.TO, TPZ.TO, TRP.TO, TRX.TO, TVE.TO, URE.TO, VHI.TO, VNP.TO, WEED.TO, WEF.TO, WFG.TO, WJX.TO, WPK.TO, YGR.TO
To conclude our report, we thank you for your engagement and insights. Your feedback is valuable, and we encourage you to share your recommendations. Stay attentive to the Daily Setups, the Workspace, and the Watchlists for emerging opportunities. Additionally, explore the PDFs of the scanner results provided in the Daily Setups report. Until next time, happy trading!