8/25 Pre-Market Thoughts: Big Money Loading Up

One-sentence theme: Smart money is buying — Pelosi is betting on AI power (BE/INTC), while Jack Ma and Joe Tsai are adding to Alibaba. At the same time, crude oil plunged 3% (Middle East easing).

I. Sentiment Focus: Big Players Buying in Sync

1. Pelosi family bets on "AI Power"

• On 7/24, purchased 10,000 shares of INTC + 15,000 shares of BE, along with long-term call options expiring in June 2027$BE 20270617 100.0 CALL$  $INTC 20270617 50.0 CALL$.

• BE (Bloom Energy) = solid oxide fuel cells, capable of providing on-site power directly to data centers and large commercial clients → a "power supply concept stock" tied to AI data center expansion.

2. Jack Ma and Joe Tsai have been adding to Alibaba for days (founder support following the placement)

• Jack Ma has been buying Alibaba Hong Kong shares for several consecutive days, with total purchases exceeding HK$600 million. After Ma bought 720,000 shares on Monday, Joe Tsai followed with another 720,000 shares (HK$8.2 million), expressing strong confidence in Alibaba's AI prospects.

• This echoes yesterday's dynamic: Alibaba's HK$80 billion placement caused a "massive capital drain" and a sharp drop, while today the founders are putting real money to work to support the stock — a hedge between the bearish (placement dilution) and bullish (founder buying) forces. This is a signal of potential stabilization for Alibaba and worth tracking.

3. Crude oil plunges 3% (Middle East easing)

• NYT reported: internal documents indicate that U.S. diplomats who were evacuated may return to their Middle East posts this week, suggesting that an Iran conflict may not materialize → geopolitical risk premium fades, crude oil drops sharply.

II. Notable Block Trades (With Interpretation)

• GLD: 9/18 420 Call closed → rolled to 430 Call (115,900 contracts) $GLD 20260918 430.0 CALL$ . However, the 9/4 420 Buy Put (12,000 contracts) $GLD 20260904 420.0 PUT$ suggests partial profit-taking while maintaining a bullish outlook, with a short-term Put hedge → gold is likely to enter a consolidation phase.

• XLE: 12/18-expiry 60 Buy Put (15,000 contracts)$XLE 20261218 60.0 PUT$ → bearish on the energy ETF (aligning with the crude oil plunge).

• NVDA: 2027/1 180 Buy Put (98,000 contracts) $NVDA 20270115 180.0 PUT$ + sell 2027/6 140 Put (120,000 contracts) $NVDA 20270617 140.0 PUT$ → long-term downside protection / moderately bearish (buying long-dated insurance ahead of earnings).

III. Macro Themes · Conventional Approaches

1. Anthropic IPO (late September or early October): Likely scheduled after Triple Witching on 9/18. A trillion-dollar giant's IPO has significant near-term market impact.

2. Gold Sell Put: The increased probability of no rate hike is bullish for gold. The trend is strong, but a pullback is likely after the sharp rally (block trades are also hedging) — watch for Sell Put opportunities on pullbacks.

3. SPY / S&P Sell Put (Policy tailwind): Trump Account passive buying (7 million accounts already, default SPYM). For those with a medium-to-long-term bullish view, Sell Puts on dips are a better alternative to chasing highs.

⚠️ Disclaimer: The above is a pre-market information summary and strategy discussion, provided for educational and discussion purposes only. It does not constitute investment advice. Celebrity/insider trading disclosures are delayed and do not represent current trading timing. Sell Puts/Calls carry assignment/exercise risk; please control position sizes and set stop-losses. Investing involves risk.