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.
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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 – Bullish
Options Activity – Significant put selling with expirations on November 1, 2024. Over 25,000 contracts traded across multiple sweeps.
Total Values – $1.55 million in premiums collected.
Strike Price or Range of Strike Prices – $580 to $585
Expectations – This activity indicates traders expect SPY to remain above these levels by expiration, reflecting a positive market outlook.
Market View – The continued put selling suggests strong market confidence in limited downside.
Invesco QQQ Trust (QQQ)
Sentiment – Mixed
Options Activity – Both put buying and call selling observed, indicating mixed sentiments. November 22, 2024, calls were actively bought and puts for shorter expirations were added.
Total Values – $3.0 million traded in calls and $1.3 million in puts.
Strike Price or Range of Strike Prices – Calls at $495; puts at $470
Expectations – The mixed activity points to uncertainty in QQQ’s near-term direction, with some expecting upside and others protecting against downside risk.
Market View – Volatility is likely as sentiment remains divided ahead of key earnings reports in the tech sector.
Devon Energy (DVN)
Sentiment – Bearish
Options Activity – Heavy put buying in contracts expiring as far out as 2025, with multiple strikes between $47.5 and $52.5.
Total Values – $3.1 million in total puts traded.
Strike Price or Range of Strike Prices – $47.5 to $52.5
Expectations – Traders appear to be bracing for extended downside in Devon Energy, possibly tied to ongoing concerns about the energy market’s future.
Market View – The significant put buying reflects a cautious outlook on energy stocks amid fluctuating oil prices and geopolitical tensions.
Pyxis Oncology (PYXS)
Sentiment – Bearish
Options Activity – Call selling for November 15, 2024, expiration, with around 400 contracts traded.
Total Values – $100,000 in premiums collected.
Strike Price or Range of Strike Prices – $5
Expectations – The call selling suggests traders are capping their expectations for upside in PYXS, expecting the stock to remain under pressure in the near term.
Market View – Sentiment remains negative as traders focus on the downside potential.
Nvidia (NVDA)
Sentiment – Bullish
Options Activity – Significant call buying with expirations extending into 2025. Over 40,000 calls were purchased across multiple expirations.
Total Values – $6.3 million in total calls traded.
Strike Price or Range of Strike Prices – $100 to $165
Expectations – Traders are betting on continued upside in Nvidia, supported by strong earnings momentum and leadership in the semiconductor space.
Market View – Nvidia remains a favored name in growth portfolios, and these bullish options trades reflect confidence in its sustained performance.
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
Sirius XM Holdings Inc (SIRI)
Buyer: Berkshire Hathaway Inc (Large Shareholder)
Shares Purchased: 1,040,000 (+1.0%)
Price: USD 27.01
Total Value: USD 28,094,248
Texas Pacific Land Corp (TPL)
Buyer: Murray Stahl (Non-Executive Director, Large Shareholder)
Shares Purchased: 3 (+0.0%)
Price: USD 1,069.06
Total Value: USD 3,207
US Insider Sales
Steel Dynamics Inc (STLD)
Seller: Glenn Pushis (Senior Vice President)
Shares Sold:
- 5,327 (-3.5%) at USD 133.21
- 6,967 (-4.4%) at USD 133.12
- 5,647 (-3.4%) at USD 132.95
Total Value: USD 2,387,826
Atlassian Corp (TEAM)
Seller: Scott Farquhar (Non-Executive Director, Large Shareholder)
Shares Sold:
- 796 (-0.2%) at USD 191.20
- 400 (-0.1%) at USD 189.10
- 2,450 (-0.6%) at USD 193.20
- 4,302 (-1.1%) at USD 192.02
Total Value: USD 1,527,253
SPAR Group Inc (SGRP)
Seller: Robert G. Brown (Large Shareholder)
Shares Sold: 162,454 (-5.9%)
Price: USD 2.40
Total Value: USD 389,890
State Street Corp (STT)
Seller: John Plansky (Executive Vice President)
Shares Sold: 13,859 (-20.1%)
Price: USD 91.32
Total Value: USD 1,265,604
BigBear.ai Holdings Inc (BBAI)
Seller: BBAI Ultimate Holdings, LLC (Large Shareholder)
Shares Sold: 389,534 (-0.3%)
Price: USD 1.77
Total Value: USD 689,475
CDN Insider Purchases
G2 Goldfields Inc (GTWO)
Buyer: AngloGold Ashanti Holdings plc (10% Security Holder of Issuer)
Shares Purchased: 136,800 (+0.4%)
Price: CAD 2.14
Total Value: CAD 293,067
Latin Metals Inc (LMS)
Buyer: Robert Charles Kopple (10% Security Holder of Issuer)
Shares Purchased: 10,225,000 (+359.2%)
Price: CAD 0.08
Total Value: CAD 818,000
Gold Reserve Ltd.
Buyer: Camac Partners, LLC (10% Security Holder of Issuer)
Shares Purchased: 45,600 (+0.5%)
Price: USD 2.56
Total Value: USD 116,736
CDN Insider Sales
CanAlaska Uranium Ltd (CVV)
Seller: Shane Shircliff (Director of Issuer)
Shares Sold: 75,000 (-62.5%)
Price: CAD 0.77
Total Value: CAD 57,750
Pyrogenesis Canada Inc (PYR)
Seller: Photis Peter Pascali (10% Security Holder of Issuer)
Shares Sold: 50,000 (-8.8%)
Price: CAD 0.75
Total Value: CAD 37,355
Institutional Spotlight: Ibotta (IBTA)
As of October 21, 2024, Ibotta, Inc. (IBTA) has attracted significant attention from institutional investors, with a total of 202 institutional owners and shareholders filing 13D/G or 13F forms with the Securities Exchange Commission (SEC). Together, these institutions hold 14,880,053 shares. Among them, 89 new buyers have recently taken positions, signaling renewed interest in the company’s future prospects.
Several key new buys stand out:
- Marc Nmn Stad at Dragoneer Investment Group LLC made a substantial new purchase of 250,000 shares, representing a 0.37% portfolio weight, entirely new to the firm.
- Gaurav Kapadia of XN LP entered with 20,000 shares, holding 0.07% of his portfolio in Ibotta—also a 100% new position.
- Catherine Wood, a well-known investor at ARK Investment Management LLC, purchased 13,044 shares, representing a 0.01% portfolio weight.
- Stuart Zimmer of Zimmer Partners added 10,000 shares (0.02% portfolio weight).
- Karl Kroeker of Woodline Partners LP and Neville Shah of Kodai Capital Management LP took new positions of 10,000 shares and 7,581 shares, respectively, while Josh Goldberg of G2 Investment Partners Management LLC added 6,947 shares, which accounts for 0.14% of his portfolio.
These new entries mark an increase in confidence from influential institutional players, positioning them to benefit from potential gains if the company’s trajectory improves. The total of 89 new buys indicates growing interest in Ibotta despite its recent share price decline.
Regarding market performance, Ibotta’s share price dropped from $103.25 on April 18, 2024, to $70.54 as of October 21, 2024, reflecting a 31.68% decline. While this represents a significant drop, the influx of new institutional positions suggests a belief in the company’s long-term potential and recovery prospects.
Investors should continue to monitor institutional activity closely, as these large-scale moves can often signal potential future trends for the stock.
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
US – Institutional Momentum Watchlist
Canadian Institutional Momentum Watchlist
EXPORT – CDN – Institutional Momentum Watchlist
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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!