Rebels Edge · Tue, Jun 30, 2026
The AI Comeback Nobody Saw Coming
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Pete and producer Jared discuss broadening market leadership, easing volatility, and renewed strength in AI-related stocks, highlighting Nebius, Nokia, and Marvell. They examine unusual options activity and AI infrastructure opportunities before closing with sports commentary on player longevity and potential Golden State Warriors roster moves.
- Technology remains strong while leadership broadens into healthcare, industrials, and financials.
- Pete views declining crude oil prices and a VIX around 16–17 as signs of reduced market nervousness.
- Nebius rallies sharply following unusual call activity; the hosts highlight its data-center backlog and contracts with Microsoft and Meta.
- Nebius July $350 calls reportedly rose from $1.70 to $4.50 overnight; Pete emphasizes disciplined profit-taking after the move.
- Nokia attracts renewed short- and longer-term options activity, with its Nvidia partnership highlighted as a catalyst; BlackBerry also receives attention.
- Marvell's rebound and data-infrastructure business support Pete's positive outlook on its remaining upside potential.
- Pete names Caterpillar as a favorite indirect AI infrastructure investment.
- The sports segment contrasts Demario Davis's investment in physical longevity with concerns about assembling an aging Warriors roster.
Full transcript
We're talking about Nokia today. You know that bulletproof phone? Well, that's no longer there, but Nokia is back, baby. We'll talk about that and many other things along with the sports on the Rebel's Edge.
>> [music] [music] >> Here we go again and I apologize.
Yesterday, I did not introduce this gentleman next to me here, this Jared guy.
Um you know what? John was gone, we were moving around, we were shifting around and uh and I just, you know what?
Didn't do it, but this is Jared, uh also known as producer Jared. And uh you talk about a guy who's doing a lot of things at once. He's doing everything on the production side and he's part of this whole thing. So, should be pretty fun.
Great to have you again, Jared. It's good to see you, man.
>> Yeah. Thanks for having me on. Yeah.
Yeah, I mean, I'm I'm here every day behind the scenes, but uh it's fun to be in front of the camera for sure sometimes.
>> Well, let's jump into macro right away.
I mean, I I what I'm concerned not concerned about is this. Uh I like markets when we continue to have a rotation of what the leadership is. Now, leadership certainly is still technology, but they're not the only leader that we are seeing right now and I think that's a big deal. I think the fact that we go to healthcare, we go to
industrials, we go to the financials.
And by the way, the financials, they're going to kick off in less than 2 weeks in terms of the earning season kicking off again. So, I'm looking forward to that and we're seeing a lot of different moves today, but the moves generally are up, up, up, and up in terms of the Nasdaq and the Dow. Record highs, you know what? Record highs are made to be
broken and they're broken on seems like almost every day.
>> Yeah. Yeah, you know, like it's it's great to it's great to have big movers in tech, you know, that that's that's where we like to make money with the with the leverage and options. Uh but how is the rotation changing how you're trading, Pete?
>> Yeah, it's a matter of just seeing where the rotations are going and trying to get on top of it as fast as possible, whether it's energy one day and you know, the next day it could be financials, two days later it could be the industrials. So, just trying to stay up with whatever is going to be the leadership. And obviously, technology, it can pull the markets down, sure, but
that does sometimes create some uh a little bit more of an opportunity as along the way as well. So, excited about what we're seeing right now. And again, today's rotation is uh is another good one. But, that doesn't mean technology is not coming up and sprinting to the upside cuz uh technology, it is.
>> All right, what are you seeing in the VIX?
>> Yeah, the volatility index is certainly telling us a lot about the nervousness or lack thereof right now that we are seeing. And we see that in the form of crude oil. It was 112 not that terribly long ago. It was 108 uh back in May. And here we are today trading what? In the 70s? 77? Something
like that? So, that's coming down.
Volatility is coming down. Volatility was up there and they were following each other around. Well, volatility is starting to sink, sink, sink. And here we are in the low 16s right now. So, 16 to 17, that's kind of the range that we're in right now. It's probably a good range and I think pretty accurate. It might even be a little high. We might
see this thing get a little bit lower and break through 16 today.
>> Right on. All right. So, you wanted to bring back bring back Nebius uh which we talked about yesterday. Uh what are you seeing there?
>> You know, Nebius is a very interesting company. You know, we talk about the full stack um infrastructure, the AI, all of that. And of course, you know, a lot of people people have been you know, negative on AI for almost the better part of a year now. And yet, AI, yes, it takes some dips. Yes, they can pull back, but then all of a sudden it just
starts screaming back to the upside.
Nebius did that yesterday. We had some unusual option activity in there that we referenced yesterday. It's just absolutely flying today. So, it's near its all-time highs of 299. It hit 290 today before it pulled back just a little bit. We talked yesterday, massive
backlog in the data centers, compute contracts with Microsoft and with Meta.
And there you can see some of the buying yesterday. Seemed ridiculous, right?
You're going out to July and you're buying the 350s. is just trading just north of 250. Well, getting all the way up into the 290s, those options yesterday that were a buck 70, today 450. And that's what we're looking for.
We're looking for those kinds of trades where if we can see that in that unusual option activity, and you can see it hits it hits it hits and now all of a sudden this one, a very good home run for a lot of folks. So, very impressive on what's going on with Nvidia's right now.
>> So, do you think that that that UAY hit from yesterday the July 350 10 July 350s? Do you think Do you think that that's juice? Do you think it's still got more to go?
>> I think it still could have some. I think if anybody was fortunate enough to follow along with that trade, you probably need to be very smart and disciplined to take at least something off of the trade.
But that's not for me to say.
Everybody's got their own techniques and what they want to do and how they want to, you know, buy something, sell something, all the rest of it.
We're just pointing out the fact that this this thing is on fire and this move happened just amazingly quick. From yesterday to today, just absolutely incredible. So, as we follow along with this one, I think that you know, it's a it's another good example of what we're seeing in the markets today where we're
still seeing technology, we're still seeing some AI, but like I said, there's there is a little bit of a rotation going on in some of the other sectors as well.
>> All right. So, I got to really excited about this next one cuz I have I have like a kind of a ironic nostalgia for the Nokia the unbreakable phone from back in the day. I'm honestly a little bit surprised that this one's never gotten the the meme stock treatment because of the the you know, the bricks that they used to sell us that just you know, we retired them because we were getting smartphones
uh not because they stopped working. So what's going on with Nokia?
>> You know what? Um yesterday we saw some unusual option activity in there.
Uh today there's still more. It's interesting to see that Nokia, you know, is even alive again and part of the reason that it is and we've talked about this not too terribly long ago a few like weeks ago.
But the partnership that they've got now with Nvidia is also a big deal. It's a billion-dollar big deal. So it's something that I think is really interesting. I think we should all be keeping an eye on both BlackBerry and Nokia because they were stocks from the past that were kind of given up for dead.
Um they're not dead. They're making a move and you know, it's been a very very interesting um you know, sort of a a ramp to the upside that we have seen. It really started to sprint, you know, go going back with with uh BlackBerry back there in April and then in May and then it started kind of collapsed. You can see
that big move that it made towards the very end of May getting into June. It was all the way up there towards 16 17 bucks a share. Pulled back. All of a sudden there was no options being bought again. Well, now all of a sudden we're starting to see options come back into Nokia both on the short-term and the longer-term options. Very very
interesting to see that it's coming to live uh alive again along with BlackBerry.
>> Yeah, and it's another one of those AI picks and shovels kinds of kinds of place, right? Like uh the the connectivity between between the the AI chips and so forth. And I I honestly I hope you know, I know that they've licensed their phone manufacturing to another company. They still call them Nokias, but it's it's not really a Nokia
product. I think it would be cool if that uh one day it could come back in house and we could get, you know, like a premium smartphone version of of uh something like what we used to have.
>> You know what? People, by the way, people used to sit there and say, "You know what? There's no way Nokia's going to be lost in this whole thing with smartphones because, you know, people really like how to type and all the rest of that." Well, uh they might have liked it, but I think they like the smartphones a little bit more because that was sort of what became the end for Nokia.
Um but it's still been around. It's still moving and like we were just talking about a quite a deal that they've decided to to jump into with Nvidia. So that's uh that's been a pretty good savior as well.
>> Yeah, definitely. Okay, so we've got another picks and shovels play with Marvell. What's going on here?
>> Yeah, Marvell's another interesting one, you know, it it's been pressing on that 300 level. It's been very very impressive. The 52-week high is a little bit higher than that, call it almost 330. Um like we said, tech-led rallies are still there. I'm not saying technology's gone and it's sort of rolled away, but we're
talking about where are we seeing some of the uh some of the the movement to other sectors? Well, we're seeing that happening with healthcare. We're seeing that happening with some of the industrials. We're seeing that happening a lot of different places, but as as you know and you've probably heard me talk about this, but you know what? My one of
my all-time favorite uh runnings right now in terms of AI, what's the what's the best AI in my opinion? I'm going to still say Caterpillar.
>> Caterpillar, [laughter] yeah.
>> You know, you want to talk about picks and shovels. But anyway, Marvell's [laughter] Marvell's another one of these data infrastructure. They're uh they're they're very strong. They took a big hit not long ago. There's they've come back very very rapidly. So is there certain names out there that I think still have some fuel in the tank to go a little bit higher?
Uh I like what we're seeing out of Marvell today and what we've seen in a little bit of a comeback after it sold off.
>> Let's let's move to sports. So you you've got DeMario Davis going to the Jets this year.
>> Mhm.
>> What do you think?
>> He's been at so many teams in his career and a lot of that has to do with not that he's a not a good player. He's a fantastic player, but people wanted to have him and he's kind of found the fountain of youth. And what do I mean by that? He actually is one of these guys who's actually figured out and look, if I'm going to be in professional sports, I've got to invest in my body. I've got
to invest in my mental side as well as my physical side and it's pretty interesting. He's a 37-year-old linebacker. That's amazing, guys. I mean anybody who can get there, you know, you start hitting 30, Jared, you're getting close to going see you later, but especially at that position because you know, you're you're in the
thick of things on every single play. A linebacker is a guy who he's got to stop the run. He's got to get in there for the pass. He's got to run these guys.
He's got to do sometimes he's doing special teams. All of that. And this guy figured out, you know what? I've got to invest in my body because it's getting beat up and if I don't, I'm not going to last more than a couple of years. Well, he's not only lasted a couple of years at 37 years old, but he's got 227 games
that he has played in. So if you look at that, he is in the top 10 of linebackers all time in terms of the amount of games that he's played. So pretty incredible.
He's had over a thousand snaps. He's had, you know, he's in that top 10 level. It's amazing. He's gone into this caveman diet and so forth as well and in the off season, that's where he eats better, he works out harder, he does all of this type of thing. And how does he do that? He invests in himself. This is
something guys like Aaron Rodgers do as well. So when you say, "Hey, Aaron Rodgers is getting pretty old." Maybe he's a little bit old, but you know what? Because of how he's treated his body over all these years, he has done a magnificent job of still being a pretty youthful looking guy when he's out on the field. And it's different as a quarterback. It's a lot easier as a
quarterback. Yes, you get hits, you get sacks and all the rest of it. But when you're a middle linebacker like DeMario Davis, this guy is special, man. It especially the fact that not only has he played all those games, but he's been healthy for a really, really long time because of that investment. So, we talk about investments all the time. We're talking about the stock market. This
guy's investing in his body, and it's paying off because when you're a player and you're playing you're you're you're getting a million dollars a year is what you allocate over to to pay for all your everything you're doing for your body to be physically there. Um you can afford to do that, too, which is kind of nice. That's the good thing about professional sports. I mean, you
know, I don't know exactly where his contract is right now, but as many years as he's been in the league, he's got to be making what?
North of 8, 10, 12, 15 million bucks or something like that. So, the investment makes a lot of sense. Here's one that doesn't make any sense for you.
Because you and I are you know, we talk a little sports here and there, but you're a little less on the sports side, but I will say this. The NBA, you know that you know a lot of these players.
What Golden State, the Golden State State Warriors are are at least attempting or saying they're thinking about doing is extraordinarily odd to me, Jared, and here's why. So, they decided that they're going to sign a couple of the guys that were already there and then bring in a couple of other guys, bring
in LeBron James.
Um here's the thing that's interesting.
I don't like what I see when I look at their, you know, great players of the past. Really good players, maybe good players now, but Porzingis is a 30-year-old. That's not too bad.
Horford's 40. Draymond Green is 36.
Steph Curry is 38. Jimmy Butler's 36.
LeBron James is 41, and Anthony Davis is 33. Anthony Davis is a very tall man, too. When you're tall, those years start to really stack up even more cuz you're running up and down on the hardwood floors and everything, man. It's bad on the back. It's bad on a lot of things.
These guys, what I don't understand is why are they going after all of these older gentlemen, right? I mean, granted, great players. They were great players. Are they still great players?
Do they have the ability to play in enough games? I mean, I just rattled off the ages, Jared. I mean, you I think you're younger than most of those [laughter] guys. Is that right?
>> Uh no, no, no, no. I'm actually older than all of them, but uh but you know what gives me some hope that uh my NBA career isn't over yet, either.
>> [laughter] >> You You You've gone through a lot of things, haven't you?
>> [laughter] >> WELL, YOU KNOW WHAT? IT'S It's just kind of a crazy thing, um and I'm shocked that they're they're willing to even think about doing this to be honest with you because, you know, some of these guys aren't even on the team right now, but they're talking about signing them, and then you know, that's a lot of guys
over the age of 30 and 35, and you know, one or two guys 40 or more. So, um I just look at it as a little bit crazy, and I think it's a mistake. I mean, Steph Curry can still do it. He's a lot smaller guy, and he can he can still do it. He's, you know, he's 38,
you know, probably physically closer to 34 cuz he does that type of thing with his body. So, interesting, but do you really want to put all those old guys out on the court at the same time? I don't think so.
>> All right. Well, we're going to be back tomorrow again at 1:00 p.m. Eastern Time, Rebels, hopefully with John and Pete. Uh >> [laughter] >> but um we'll see. Happy trading, and we'll see you tomorrow at 1:00.
>> [music] [music]
Transcript from the show's YouTube captions; automatic captions may contain errors. Educational content, not investment advice.