And the slide continues…NOT!
🙂
Hallelujah! The curse is finally broken!
And on the seventh week, God forced the O2W’s NAV to finally go up! 😀
With the markets in a tailspin this past week, my portfolio had the good fortune to profit from my bet in QQQ puts and now it’s sitting very safe and all in cash!
But first an update on last week’s overall markets’ performance…or shall we say, lack thereof…
| Index | Previous Weekly Close | Current Week’s Close | Change | Percentage Change |
| $DOW | 37,983.24 | 37,986.40 | +3.16 | +0.01%% |
| $SPX | 5,123.41 | 4,967.23 | –156.18 | –3.05% |
| $COMPX | 16,175.09 | 15,282.01 | –893.08 | –5.52% |
While the Nasdaq went down 5.52% and the S&P pulled back 3.05%, the Dow barely eked out a tiny gain of 0.01%
The week’s performance of the O2W portfolio companies:
This week’s report is a short one…very short indeed:
| Company | Stock’s Previous Weekly Close | Current Weekly Close | Change | Percentage Change |
| Amprius Technologies (AMPX) | $   1.88 | $   1.76 | –$0.12 | –6.38% |
The only long position I currently hold in my O2W portfolio is AMPX January 17. 2025 calls and it is worth a big fat zero!
Performance of my O2W portfolio’s long positions:
| Company | Option | Quantity | Purchase Price | Weekly Close* | Price Change | Current Value |
| AMPX | 10 January 17, 2025, $5 Calls | 10 | $  1.05 | $ 0.00 | –$ 1.05 | $       0.00 |
| Sub-Total | Â | Â | Â | Â | Â | $Â Â Â Â Â Â Â Â Â Â Â 0.00 |
| Available Cash | Â | Â | Â | Â | Â | $Â 50,807.50 |
| Total Portfolio Value | Â | Â | Â | Â | Â | $Â 50,807.50 |
*Â Bid Price
Options2Wealth Portfolio’s NAV Snapshot (Week ending April 19, 2024):Â
| Current Weekly Close | Previous Week | Â Â Weekly Change | Â Weekly % Change | Total Current Value | YTD % Change* | Available Cash |
| $Â 50,807.50 | $ 41,082.50 | Â Â Â $ 9,725.00 | Â Â +23.67% | $Â 50,807.50 | Â Â Â Â +400.81% | Â $50,807.50 |
* Â Portfolio’s start date: September 5, 2023 with $10,000
Final Thoughts:
In my last Sunday’s “Final Thoughts,” I said the following:
“I believe the markets are in correction…The DOW is furthest along in its correction and the S&P and the NASDAQ should be catching up soon…
In any case, I intend to sell out of all of my positions and move 100% into cash. However, since I believe the markets are in correction, I plan to buy puts in QQQ, which closely mimics the Nasdaq. As I type this update, the futures are pointing to an up open tomorrow…I hope the markets open up tomorrow so that I exit at a better price than Friday’s close and at the same time I will get my QQQ puts at a decent price…”
After 6 straight weeks of negative close(s), everything finally went according to plan for the O2W portfolio; and in spite of a brutal market sell-off last week, its NAV broke its downtrend and went up an impressive 23%!
Since I am now basically sitting 100% in cash, I feel really good about O2W portfolio’s chances going forward and I will start looking for bargains in the coming days and weeks…starting with SMCI, which has given up more than 50% of its appreciation since its gangbuster quarterly report back on January 18, 2024. I am eyeing SMCI’s June 21, 2024, strike price $800 calls…Friday’s closing ask: $80.00. Let’s see how SMCI behaves tomorrow…
As I type this report around 9 pm Pacific, the futures are pointing to an up opening tomorrow morning…
Best~
karim
DISCLAIMER:Â I am not a licensed broker or securities dealer. All postings made here are strictly for my personal record keeping and in no way, shape or form, am I even remotely suggesting others to follow my Buy and Sell moves. Trading options is not for the faint of heart as one’s portfolio can move up, or down 10%-50% or more during a single trading day, so trade with extreme caution. Past performance is no guarantee of future results.
Full Disclosure: I own options in the stocks of companies mentioned in my posts.