It appears the markets have resumed their bull run…Two weeks ago in my post, “The Markets Are In Correction,”
I had posted my price targets on how far down each index may go during the correction my target numbers turned out to be reasonably accurate…
DOW: 648 points (estimate); Actual: 371; Price Target Accuracy: 57%
S&P: 249 points (estimate); Actual: 169; Price Target Accuracy: 68%
Nasdaq: 951 points (estimate); Actual: 952; Price Target Accuracy: 99.89%
With the Nasdaq, I was lucky and achieved 99%+ accuracy…A broken clock is right twice a day…lol!
Let’s now turn our focus on the markets’ performance(s) last week.
All three indices were up, however 2 out of 3 were up solid:
| Index | Previous Weekly Close | Current Week’s Close | Change | Percentage Change |
| $DOW | 37,986.40 | 38,239.66 | +253.26 | +0.67% |
| $SPX | 4,967.23 | 5,099.96 | +132.73 | +2.67% |
| $COMPX | 15,282.01 | 15,927.90 | +645.89 | +4.23% |
While the Dow was up 0.67%, the S&P went up 2.67% and the Nasdaq barreled ahead an impressive 4.23%
Performance of the O2W portfolio companies this past week:
| Company | Stock’s Previous Weekly Close | Current Weekly Close | Price Change | Percentage Change |
| Amprius | $1.76 | $1.74 | –$ 0.02 | –1.14% |
| GigaCloud Technologies (GCT) | $ 34.69 | $35.35 | + $0.66 | +1.90% |
| MicroChip (MCHP) | $81.68 | $93.60 | +$ 11.92 | +14.59% |
| Oracle Corporation (ORCL) | $ 114.88 | $117.21 | + $2.33 | +2.03% |
| Oscar Health (OSCR) | $16.01 | $17.56 | +$ 1.55 | +9.68% |
| SunMicro (SMCI) | $713.65 | $857.44 | +$143.79 | +20.15% |
Performance of my O2W portfolio’s long positions:
| Company | Option | Quantity | Purchase Price | Weekly Close* | Price Change | Current Value |
| AMPX | January 21, 2025, $5 calls | 10 | $ 1.25 | $ 0.00 | – $ 1.05 | $ 0.00 |
| GCT | June 21, 2024, $40 calls | 20 | $ 4.30 (Average) | $ 3.70 | – $ 0.60 | $ 7,400.00 |
| MCHP | July 19, 2024, $90 calls | 10 | $ 8.75 | $8.30 | – $ 0.45 | $ 8,300.00 |
| ORCL | July 19, 2024, $120 calls | 10 | $ 5.60 | $5.55 | – $0.05 | $ 5,555.00 |
| OSCR | July 19, 2024, $15 calls | 10 | $ 4.25 | $4.00 | – $ 0.25 | $ 4,000.00 |
| SMCI | June 21, 2024 $800 calls | 1 | $ 68.30 | $143.20 | +$74.90 | $ 14,320.00 |
| Sub-Total | $39,575.00 | |||||
| Available Cash | $ 16,744.35 | |||||
| Total Portfolio Value | $ 56,319.35 |
* Bid Price
Options2Wealth Portfolio’s NAV Snapshot (Week ending April 26, 2024):
| Current Weekly Close | Previous Week | Weekly Change | Weekly % Change | Total Current Value | YTD % Change* | Available Cash |
| $ 56,319.35 | $ 50,807.50 | $ 5,511.85 | +10.85% | $ 56,319.35 | +463.19% | $ 16,744.35 |
* Portfolio’s start date: September 5, 2023 with $10,000
Final Thoughts:
Have dug myself into a deep hole and am slowly working to claw back out…Last week was my second up week in a row after suffering 6 straight down weeks! And thanks to the lone SMCI call contract for keping my O2W portfolio in the game last week! Let’s see how this new week shapes up…keeping my fingers crossed… 🙂
Best~
karim
DISCLAIMER: 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.