And the slide continues…now 5 weeks and counting!
🙁
But first an update on last week’s overall markets’ performance(s):
The week was bad for all 3 indices, however, the Dow took it hard on the chin, down more than 2.25% while the S&P and the Nasdaq were down 0.95% and 0.80% respectively.
| Index | Previous Weekly Close | Current Week’s Close | Change | Percentage Change |
| $DOW | 39,807.37 | 38,904.04 | –903.33 | –2.27% |
| $SPX | 5,254.35 | 5,204.34 | –50.01 | –0.95% |
| $COMPX | 16,379.46 | 16,248.52 | –130.94 | –0.80% |
The week’s performance of the O2W portfolio companies:
| Company | Stock’s Previous Weekly Close | Current Weekly Close | Change | Percentage Change |
| Advanced Micro Devices (AMD) | $180.49 | $170.42 | –$ 10.07 | – 5.58% |
| Amprius Technologies (AMPX) | $ 2.65 | $ 2.04 | –$ 0.61 | – 23.02% |
| ARM Holdings | $124.99 | $124.82 | –$ 0.17 | – 0.14% |
| Oracle Corporation (ORCL) | $ 125.61 | $ 124.90 | –$ 0.71 | – 0.57% |
| Palo Alto Network (PANW) | $ 284.13 | $269.01 | –$ 15.12 | – 5.32% |
This past week was a sea of blood all across, but nothing compared to the bleeding my O2W portfolio had to endure, down a whopping 20+%!
Performance of my O2W portfolio’s long positions:
| Company | Option | Quantity | Purchase Price | Weekly Close* | Price Change | Current Value |
| AMD | May 17, 2024, $200 calls | 15 | $ 12.22 (average) | $ 3.45 | –$ 8.77 | $ 5,175.00 |
| AMPX | January 17, 2025, $5 calls | 10 | $ 1.05 | $ 0.00 | –$ 1.05 | $ 0.00 |
| ARM | May 17, 2024, $140 calls | 15 | $11.47 (average) | $6.20 | –$ 5.27 | $ 9,300.00 |
| ORCL | May 17, 2024, $125 calls | 20 | $ 5.73 (average) | $3.80 | –$ 1.93 | $ 7,600.00 |
| PANW | July 19, 2024, $300 calls | 5 | $ 15.60 | $12.35 | –$ 3.25 | $ 6,175.00 |
| STNE | May 17, 2024, $18 calls | 10 | $1.70 | $0.70 | –$ 1.10 | $ 700.00 |
| Sub-Total | $28,950.00 | |||||
| Available Cash | $16,497.25 | |||||
| Total Portfolio Value | $ 45,447.25 |
* Bid Price
Options2Wealth Portfolio Snapshot (Week ending April 5, 2024):
| Current Weekly Close | Previous Week | Weekly Change | Weekly % Change | Total Current Value | YTD % Change* | Available Cash |
| $ 45,447.25 | $ 57,157.00 | —$11,709.75 | —20.49% | $ 45,447.25 | +354.47% | $16,497.25 |
* Portfolio’s start date: September 5, 2023 with $10,000
Final Thoughts:
I am beginning to sound like a broken record…I keep predicting that the slide is over and then am proven wrong again and again and forced to eat humble pie, over and over…I hate the taste of this darn pie…it has gotten stale!
My last week’s cash cushion is now down by about $10K to a little over $16K, and the portfolio’s NAV is down a whopping 20%!!!
However, I am willing to be patient and wait for the turn around which I know is around the corner…
So here is my take on the O2W positions for this week:
AMD: The slide in its price was a total surprise, but based on its Candlestick chart, I am not convinced the slide is over…there is a gap below around $164 that may get filled before the stock starts its move up…we shall see…I am staying put!
AMPX: The value of my calls is now down to zero but I have another 9 months left on these calls.
ARM: I believe it is ready to make a move up…and I am considering to again add 5 call contracts to my current position!
ORCL: The stock may continue to consolidate here and trade in a tight range.
PANW: The stock is down below its 200 DMA which is certainly not good…I will see how the week unfolds though I am confident that it will recover…Luckily expiration is not till mid July!
STNE: I plan to double my position here.
Will continue to keep my fingers crossed… 🙂
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.