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 Trust (SPY)
Sentiment: Bullish
Options Activity: A large sell put trade for October 2024 expiry.
Total Values: $1,627,400.
Strike Price or Range of Strike Prices: $558 strike.
Expectations: Traders expect SPY to remain above the $558 strike, reflecting a bullish outlook.

iShares Russell 2000 ETF (IWM)
Sentiment: Bullish
Options Activity: Significant sell put activity with March 2025 expiry.
Total Values: $2,199,750.
Strike Price or Range of Strike Prices: $220 strike.
Expectations: Traders are betting IWM will be above the $220 strike, indicating long-term confidence in the Russell 2000.

SPDR Gold Shares (GLD)
Sentiment: Bullish
Options Activity: Multiple buy call trades expiring in October 2024.
Total Values: Over $5,760,100 combined.
Strike Price or Range of Strike Prices: $230 strike.
Expectations: Traders expect upside momentum in GLD, likely driven by macroeconomic factors such as inflation or geopolitical risks.

SPDR Gold Shares (GLD)
Sentiment: Bullish
Options Activity: Large buy call trades expiring in October 2024.
Total Values: $1,626,820.
Strike Price or Range of Strike Prices: $230 strike.
Expectations: Traders are betting on a continued rise in gold prices.

Barrick Gold (GOLD)
Sentiment: Bullish
Options Activity: 10 trades detected, with 9 calls and 1 put.
Total Values: Puts totaled $54,950, while calls totaled $315,199.
Strike Price or Range of Strike Prices: Price range of $14.00 to $22.00.
Expectations: Investors are expecting a rise in the stock’s value within the next few months.
Market View: Positive, as major players position themselves for upside in gold prices.

Bristol-Myers Squibb (BMY)
Sentiment: Mixed
Options Activity: 15 unusual trades detected, including 5 puts and 10 calls.
Total Values: Puts totaled $265,783, while calls totaled $657,729.
Strike Price or Range of Strike Prices: Targeted range of $40.00 to $70.00.
Expectations: Whales are expecting the stock to trade within this range in the near term.

Carvana (CVNA)
Sentiment: Mixed
Options Activity: 57 unusual trades, split between 25 puts and 32 calls.
Total Values: Puts totaled $1,457,034, while calls totaled $1,490,844.
Strike Price or Range of Strike Prices: Targeted range of $85.00 to $250.00.
Expectations: Bullish traders expect continued upward momentum despite mixed sentiment.
Market View: Volatile, with significant activity showing both potential upside and downside risks.

New Fortress Energy (NFE)
Sentiment: Bullish
Options Activity: 29 trades detected, including 19 puts and 10 calls.
Total Values: Puts totaled $1,551,134, while calls totaled $560,290.
Strike Price or Range of Strike Prices: Price range of $7.00 to $25.00.
Expectations: Bullish sentiment dominates, with investors expecting further upside in the stock.
Market View: Whales are positioning for growth, despite the presence of some bearish trades.

Snowflake (SNOW)
Sentiment: Bearish
Options Activity: 41 unusual trades detected, including 20 puts and 21 calls.
Total Values: Puts totaled $1,874,358, while calls totaled $1,031,663.
Strike Price or Range of Strike Prices: Range of $90.00 to $180.00.
Expectations: Bearish sentiment suggests concern over the stock’s near-term outlook.
Market View: Investors appear cautious, with more downside protection in place.

Apple (AAPL)
Sentiment: Mixed, leaning Bullish
Options Activity: 187 trades, split between 96 puts and 91 calls.
Total Values: Puts totaled $5,898,254, while calls totaled $5,839,083.
Strike Price or Range of Strike Prices: Price range of $115.00 to $250.00.
Expectations: The stock is expected to stay within the target price range, but sentiment leans slightly bullish for the long term.
Market View: Investors are optimistic about the stock’s continued growth potential.

Kraneshares CSI China Internet ETF (KWEB)
Sentiment: Mixed
Options Activity: Sizeable buy and sell calls for October 2024 expiry.
Total Values: $980,000 in sells and $949,000 in buys.
Strike Price or Range of Strike Prices: $36 strike.
Expectations: A mixed stance on KWEB as traders expect volatility around Chinese tech stocks.

Bank OZK (OZK)
Sentiment: Bullish
Options Activity: 10 trades, including 7 puts and 3 calls.
Total Values: Puts totaled $335,356, while calls totaled $134,200.
Strike Price or Range of Strike Prices: Price range of $22.50 to $52.50.
Expectations: Bullish traders see potential for recovery or growth in Bank OZK’s stock.
Market View: Mixed but with a tilt towards optimism, as large investors position for a rebound.

Weibo Corporation (WB)
Sentiment: Mixed
Options Activity: Contrasting trades with size greater than prior open interest for both call buys and sells with April 2025 expiry.
Total Values: $331,730 for buys and $154,800 for sells.
Strike Price or Range of Strike Prices: $10 strike.
Expectations: Traders are positioning for both directions, reflecting uncertainty in Weibo’s outlook.

Valero Energy (VLO)
Sentiment: Mixed
Options Activity: 8 trades detected, with 6 calls and 2 puts.
Total Values: Puts totaled $75,500, while calls totaled $204,499.
Strike Price or Range of Strike Prices: Price range of $110.00 to $150.00.
Expectations: Mixed sentiment reflects some bullish positions, but also caution around potential downside.
Market View: Cautious, with traders protecting against potential declines in the energy sector.

To wrap up today’s options report, we observed several notable option trades throughout the day that, while significant, may not necessarily reflect how positions closed by the end of trading. Notable options activity, GLD saw repeat-size bullish trades as investors sold 10/25 puts to finance call spreads, a strategy highlighting their confidence in the upside potential. Meanwhile, GCT had a striking Put/Call ratio of 250/2,841, showing overwhelming bullish sentiment. OXY experienced heavy options flow with 28k puts and 169k calls, resulting in a Net Option Delta of 1.12 million shares. Additionally, TIGR had 4,527 puts against 35k calls, and BEKE saw 2,763 puts versus 33k calls, further demonstrating a bullish lean in both cases.

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

Cardinal Ethanol LLC (CRDE)
Buyer: Robert Nathan Baker (Non-Executive Director, Large Shareholder)
Shares Purchased: 13 (+0.7%)
Price: USD 17,000.00
Total Value: USD 221,000

Cardinal Ethanol LLC (CRDE)
Buyer: Lewis M. Roch III (Non-Executive Director)
Shares Purchased: 100 (+20.0%)
Price: USD 17,500.00
Total Value: USD 1,750,000

Simon Property Group Inc (SPG)
Buyer: Larry C. Glasscock (Non-Executive Director)
Shares Purchased: 338 (+0.8%)
Price: USD 167.30
Total Value: USD 56,547

First Trust High Yield Opportunities 2027 Term Fund (FTHY)
Buyer: James A. Bowen (Non-Executive Director)
Shares Purchased: 4,370 (+3.7%)
Price: USD 15.20
Total Value: USD 66,424

Midwestone Financial Group Inc (MOFG)
Buyer: Charles N. Reeves (Chief Executive Officer)
Shares Purchased: 7,000 (+18.1%)
Price: USD 25.00
Total Value: USD 175,000

US Insider Sales

Altair Engineering Inc (ALTR)
Seller: James R. Scapa Declaration of Trust (Large Shareholder)
Shares Sold: 5,572 (-85.7%)
Price: USD 95.03
Total Value: USD 529,501

Legacy Housing Corp (LEGH)
Seller: Curtis Drew Hodgson (Non-Executive Director, Large Shareholder)
Shares Sold: 17,300 (-2.7%)
Price: USD 27.27
Total Value: USD 471,771

Valaris PLC (VAL)
Seller: Matthew Lyne (Senior Vice President, Chief Commercial Officer)
Shares Sold: 26,000 (-51.6%)
Price: USD 55.77
Total Value: USD 1,449,994

Pimco Energy and Tactical Credit Opportunities Fund (NRGX)
Seller: Saba Capital Management, L.P. (Large Shareholder)
Shares Sold: 46,501 (-0.7%)
Price: USD 23.51
Total Value: USD 1,093,239

Kellogg Co (K)
Seller: W. K. Kellogg Foundation Trust (Large Shareholder)
Shares Sold: 114,583 (-0.2%)
Price: USD 80.72
Total Value: USD 9,249,094

CDN Insider Purchases

Perimeter Medical Imaging AI Inc (PINK)
Buyer: SC Master Holdings, LLC (10% Security Holder)
Shares Purchased: 14,507,453 (+100.3%)
Price: CAD 0.42
Total Value: CAD 6,093,130

Perimeter Medical Imaging AI Inc (PINK)
Buyer: Chamath Palihapitiya (10% Security Holder)
Shares Purchased: 14,507,453 (+100.3%)
Price: CAD 0.42
Total Value: CAD 6,093,130

Quebec Innovative Materials Corp (QIMC)
Buyer: ThreeD Capital Inc. (10% Security Holder)
Shares Purchased: 275,000 (+2.8%)
Price: CAD 0.28
Total Value: CAD 76,478

Quebec Innovative Materials Corp (QIMC)
Buyer: Sheldon Inwentash (10% Security Holder)
Shares Purchased: 275,000 (+2.8%)
Price: CAD 0.28
Total Value: CAD 76,478

CDN Insider Sales

Descartes Systems Group Inc (DSG)
Seller: Andrew Roszko (Senior Officer)
Shares Sold: 22,900
Price: CAD 140.45
Total Value: CAD 3,216,305

Galaxy Digital Holdings Ltd
Seller: Erin Brown (Executive Director)
Shares Sold: 10,000 (-4.7%)
Price: CAD 18.00
Total Value: CAD 180,000

Centerra Gold Inc (CG)
Seller: Claudia D’Orazio (Senior Officer)
Shares Sold: 29,388 (-43.6%)
Price: CAD 10.20
Total Value: CAD 299,758

Sprott Inc (SII)
Seller: John A. Ciampaglia (Executive Director)
Shares Sold: 8,250 (-6.1%)
Price: CAD 60.13
Total Value: CAD 496,073

Institutional Spotlight: Bill Ackman

Bill Ackman is the CEO and founder of Pershing Square Capital Management, a hedge fund recognized for its high-profile activist investment strategies. Ackman is known for taking substantial corporate stakes and pushing for changes to unlock shareholder value. His bold and often contrarian approach has led to both significant successes and publicized challenges in his career. Over the years, Ackman has built a reputation as an activist investor who is unafraid to take on large corporations, making his moves closely watched in the financial markets.

Top Increases This Quarter

• Lowe’s Companies, Inc. (LOW): Holding 11.72 million shares valued at $2.47 billion, the portfolio allocation increased by 1.87%.
• Chipotle Mexican Grill, Inc. (CMG): With 1.11 million shares valued at $2.47 billion, the portfolio allocation increased by 1.31%.
• Hilton Worldwide Holdings Inc. (HLT): Holding 12.09 million shares valued at $1.61 billion, the portfolio allocation increased by 1.13%.
• Restaurant Brands International Inc. (QSR): Holding 24.15 million shares valued at $1.60 billion, the portfolio allocation increased by 0.85%.
• Domino’s Pizza, Inc. (DPZ): Holding 2.50 million shares valued at $865.17 million, the portfolio allocation increased by 0.78%.

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

ACST, AES, AGNC, AGX, AHCO, AORT, AR, AVAV, AXP, BABA, BBAR, BCO, BEKE, BIDU, BILI, BLDR, BMTX, BMY, BNTC, BZ, BZUN, CARG, CHCI, CHWY, CLMT, COMP, CRS, CZR, DCTH, DT, DX, EDR, EE, ESTA, FAX, FN, FTK, FUTU, FXI, GCI, GDS, GERN, GLBE, GLNG, GOOGL, GPI, GTES, HEAR, HOOD, HWKN, IHD, ITRI, JCI, JD, JPI, JXN, KEX, KGS, KR, KWEB, LE, LMAT, LMT, LOAN, LSB, LSPD, LVS, MAR, MGEE, MGNI, MP, MTCH, NCMI, OBT, ODD, PDD, PHG, PHM, PPC, PRIM, QFIN, QTWO, RDW, RKLB, RM, RZLT, SNY, T, TDS, TG, TMDX, TOST, TPX, TRDA, TRMB, TRN, TRVI, TSLA, UAA, UNIT, USLM, VNET, WGS, WULF, WVE, WWW, WYNN, XLU, ZIM

Canadian Institutional Momentum Watchlist

ACB.TO, ACO/X.TO, AD/UN.TO, ADEN.TO, AFN.TO, AGF/B.TO, AIM.TO, AP/UN.TO, AQN.TO, ARE.TO, ATRL.TO, BAM.TO, BBD/B.TO, BCE.TO, BDI.TO, BDT.TO, BEPC.TO, BN.TO, CAE.TO, CAS.TO, CCA.TO, CCO.TO, CF.TO, CHP/UN.TO, CIX.TO, CP.TO, CTC/A.TO, DBM.TO, DNTL.TO, DOO.TO, DXT.TO, ECN.TO, EFX.TO, EMA.TO, ENB.TO, EXE.TO, FFH.TO, FN.TO, FRU.TO, FSZ.TO, FTS.TO, GEI.TO, GLXY.TO, GOOS.TO, H.TO, HRX.TO, IFC.TO, IFP.TO, III.TO, KPT.TO, LB.TO, LSPD.TO, LUC.TO, MFC.TO, MG.TO, MTY.TO, NEO.TO, NOU.V, NPI.TO, NVEI.TO, NWH/UN.TO, PBH.TO, PIF.TO, PNE.TO, PPL.TO, PRMW.TO, QBR/B.TO, RCI/B.TO, REI/UN.TO, RY.TO, T.TO, TD.TO, TOT.TO, TOU.TO, WFG.TO, WPK.TO, WRN.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!