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
Invesco QQQ Trust (QQQ):
Sentiment: Mixed
Options Activity: Large number of both calls and puts, with expiration dates in December 2024 and January 2025.
Total Values: $1.3 million in call activity, $977k in put activity.
Strike Price or Range of Strike Prices: 445, 470, and 540.
Expectations: Mixed options activity suggests uncertainty, but significant put buying indicates potential hedging or bearish sentiment.
Market View: Overall mixed, but traders should monitor upcoming economic events for clarity on QQQ’s direction.
SLM Corporation (SLM):
Sentiment: Bearish
Options Activity: Put buying ahead of April 2025 expiry, signaling cautious positioning pre-earnings.
Total Values: $117k in premiums for put options.
Strike Price or Range of Strike Prices: 21 strike.
Expectations: Traders may be hedging against downside risks heading into earnings.
Scorpio Tankers (STNG):
Sentiment: Bullish
Options Activity: Put selling, typically bullish, for November 2024 expiration.
Total Values: $149k in premiums.
Strike Price or Range of Strike Prices: 62.5.
Expectations: Market expects the price to remain stable or rise above the strike price by expiration.
Marathon Digital (MARA):
Sentiment: Bullish
Options Activity: Put selling for December 2025 expiration, suggesting confidence in the stock holding its value.
Total Values: $225k in premiums for sold puts.
Strike Price or Range of Strike Prices: 15 strike.
Expectations: Bullish sentiment, with traders expecting MARA to stay above $15.
NVIDIA Corporation (NVDA):
Sentiment: Bullish
Options Activity: Multiple sold puts for various expirations in November and January, suggesting traders expect NVDA to hold above strike levels.
Total Values: Over $1.5 million in premiums.
Strike Price or Range of Strike Prices: 136, 135, 130 strikes.
Expectations: Bullish, as put sellers are confident NVDA will stay above these levels through expiration.
SPDR S&P 500 ETF (SPY):
Sentiment: Mixed
Options Activity: Both calls and puts traded heavily, with expiration dates ranging from October to December 2024.
Total Values: $1.7 million in put premiums.
Strike Price or Range of Strike Prices: 560, 570, and 580.
Expectations: Mixed sentiment, but significant put activity indicates possible downside hedging ahead of major economic data releases.
Lucid Group (LCID):
Sentiment: Bullish
Options Activity: Put selling for January 2026 expiration, indicating traders expect the stock to stay above strike prices.
Total Values: $1.6 million in premiums.
Strike Price or Range of Strike Prices: 2 strike.
Expectations: Bullish, with traders confident LCID will remain above the 2-strike level through 2026.
Iris Energy Limited (IREN)
A total of 38 trades occurred for IREN on October 23, 2024, reflecting a mix of both bullish and bearish sentiment through a combination of put buying, put selling, call buying, and call selling, indicating varied outlooks among market participants.
- Bearish Sentiment (Put Buying):
- A significant amount of put buying occurred, particularly for the January 2026 expiry, suggesting cautious or bearish positioning. Notable trades include:
- $17.50 strike: Premium paid $1,069,880 on a multi-sweep order, and another $650,560.
- $12.50 strike: Premium paid $640,000 on a multi-sweep, with another trade at $299,520.
- $15 strike: Premium paid $415,000 and $260,400 on multiple transactions.
- A significant amount of put buying occurred, particularly for the January 2026 expiry, suggesting cautious or bearish positioning. Notable trades include:
- Bullish Sentiment (Put Selling):
- Several large put sales were observed, signaling potential bullish sentiment. Notable trades include:
- $10 strike (January 2026): Premium collected $308,000 and $157,520 on separate trades.
- $20 strike (January 2026): Premium collected $640,000 and $448,000, indicating that these sellers expect the stock to stay above this level.
- Several large put sales were observed, signaling potential bullish sentiment. Notable trades include:
- Mixed Sentiment (Call Buying and Selling):
- Call Buying: Bullish bets were made with call buying for the November 2024 expiry at the $9.50 strike, with premiums of $55,996 and $55,776.
- Call Selling: Some participants sold calls, notably at the $12.50 strike (January 2025), with premiums of $61,643 and $56,870, suggesting limited expectations for upside.
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
Nerdwallet Inc (NRDS)
Buyer: Topline Capital Partners, LP (Large shareholder)
Shares Purchased: 412,055 (+8.5%)
Price: USD 11.35
Total Value: USD 4,676,824
Nerdwallet Inc (NRDS)
Buyer: Topline Capital Management, LLC (See Explanation in Footnotes)
Shares Purchased: 412,055 (+8.5%)
Price: USD 11.35
Total Value: USD 4,676,824
Atlas Energy Solutions Inc (AESI)
Buyer: Gregory M Shepard (Member of 10% Owner Group)
Shares Purchased: 8,062 (+0.1%)
Price: USD 19.84
Total Value: USD 159,950
US Insider Sales
Accenture PLC (ACN)
Seller: Manish Sharma (CEO-The Americas)
Shares Sold: 2,051 (-37.0%)
Price: USD 372.45
Total Value: USD 763,887
AmerisourceBergen Corp (ABC)
Seller: Steven H. Collis (Executive Chairman)
Shares Sold: 21,509 (-7.0%)
Price: USD 235.80
Total Value: USD 5,071,822
Accenture PLC (ACN)
Seller: Manish Sharma (CEO-The Americas)
Shares Sold: 2,567 (-31.6%)
Price: USD 371.82
Total Value: USD 954,464
Accenture PLC (ACN)
Seller: Mauro Macchi (Chief Executive Officer-EMEA)
Shares Sold: 563 (-13.6%)
Price: USD 371.94
Total Value: USD 209,402
Progressive Corp (PGR)
Seller: Steven Broz (Chief Information Officer)
Shares Sold: 2,981 (-10.2%)
Price: USD 251.15
Total Value: USD 748,678
Salesforce.com Inc (CRM)
Seller: Parker Harris (Co-Founder and CTO, Slack)
Shares Sold: 2,968 (-2.4%)
Price: USD 288.36
Total Value: USD 855,857
Steel Dynamics Inc (STLD)
Seller: James Stanley Anderson (Senior Vice President)
Shares Sold: 7,500 (-7.6%)
Price: USD 129.35
Total Value: USD 970,125
CDN Insider Purchases
Radisson Mining Resources Inc.
Buyer: Matthew Lamont Manson (Senior Officer of Issuer)
Shares Purchased: 312,500 (+10.3%)
Price: CAD 0.32
Total Value: CAD 100,000
Liberty Gold Corp (LGD)
Buyer: Calvin Clovis Everett (Senior Officer of Issuer)
Shares Purchased: 100,000 (+1.0%)
Price: CAD 0.37
Total Value: CAD 37,000
Eminent Gold Corp.
Buyer: Paul Sun (Director of Issuer, Senior Officer of Issuer)
Shares Purchased: 173,076 (+19.8%)
Price: CAD 0.26
Total Value: CAD 45,000
GoldMining Inc (GOLD)
Buyer: Amir Adnani (Director of Issuer)
Shares Purchased: 20,000 (+1.4%)
Price: CAD 1.37
Total Value: CAD 27,400
Thunderbird Entertainment Group Inc (TBRD)
Buyer: David Angelo Lazzarato (Non-Executive Director)
Shares Purchased: 50,000
Price: CAD 1.80
Total Value: CAD 89,990
CDN Insider Sales
Sierra Metals Inc (SMT)
Seller: J. Alberto Arias (Director or Senior Officer of 10% Security Holder)
Shares Sold: 94,630 (-0.4%)
Price: USD 0.65
Total Value: USD 61,945
CanAlaska Uranium Ltd (CVV)
Seller: Nathan Jeffrey Bridge (Senior Officer of Issuer)
Shares Sold: 40,000 (-35.2%)
Price: CAD 0.77
Total Value: CAD 30,800
Sierra Metals Inc (SMT)
Seller: J. Alberto Arias (Director or Senior Officer of 10% Security Holder)
Shares Sold: 94,630 (-0.4%)
Price: USD 0.64
Total Value: USD 60,308
Institutional Spotlight: Seaport Entertainment (SEG)
In today’s institutional spotlight, William Ackman of Pershing Square Capital Management LP has increased his position in Seaport Entertainment Group Inc. (SEG). According to a recent SC 13D/A filing, Ackman added 2,929,107 shares, bringing his total ownership to 5,023,780 shares, which now represents 40.10% of SEG’s outstanding shares. This marks a 58% increase in his stake. The filing was accepted by the SEC on October 22, 2024.
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!