For my Options2Wealth portfolio, I can succinctly describe this past week in 1 simple word: OUCH!
But first things first…
General Market Direction:
Weekly Market Snapshot:
| Index | Previous Week’s Close | Current Week’s Close | Change | % Change |
| Dow | 36,245.50 | 36,247.87 | + 2.37 | +0.01% |
| SPX | 4,594.63 | 4,604.37 | + 9.74 | +0.21% |
| Nasdaq | 14,305.03 | 14,403.97 | + 98.94 | +0.69% |
Compared to previous weeks, last week was a sleeper for the 3 major indices. The Dow basically marked time, the S&P was up a modest 0.21% and the Nasdaq did better than the other two, up a respectable 0.69%.
Stock Performance of Options2Wealth Current Portfolio Companies:
| Company | Previous Week’s Close | Current Weekly Close | Change | Percentage Change |
| Enphase Energy | $106.52 | $103.01 | – $3.51 | – 3.30% |
| First Solar | $160.29 | $145.38 | – $14.91 | – 9.30% |
| Intel Corporation | $ 43.74 | $ 42.70 | – $1.04 | – 2.38% |
| Microvast Holdings | $ 1.28 | $ 1.14 | – $0.14 | – 10.94% |
| Mobileye Global | $ 39.27 | $ 40.21 | $0.94 | 2.39% |
| Qualcomm Inc. | $129.67 | $132.97 | $3.30 | 2.55% |
| Tetra Technologies | $ 4.77 | $ 4.31 | – $0.46 | – 9.64% |
| Upstart Holdings | $ 32.37 | $ 36.92 | $4.55 | 14.06% |
Now let’s check the performance, or should I say, lack of performance, of my O2W portfolio over the past week:
Options2Wealth Options Portfolio:
| Company | Options | Quantity | Purchase Price | Weekly Close* | Weekly Price Change | Current Value |
| ENPH | January 19, 2024,$105 calls | 18 | $5.70 | $6.75 | – $1.05 | $12,150.00 |
| FSLR | January 19, 2024 calls, Strike Price: $170 | 6 | $4.50 | $1.67 | – $2.83 | $ 1.002.00 |
| INTC | Feb 16, 2024, $50 Calls | 30 | $0.85 | $0.59 | – $0.26 | $ 1,770.00 |
| INTC | Feb 16, 2024, $55 Calls | 50 | $0.30 | $0.18 | – $0.12 | $ 900.00 |
| MBLY | February 16, 2024, $50 calls | 30 | $1.08 | $0.55 | – $0.53 | $ 1,650.00 |
| MVST | Dec 15, 2023 $2.5 Calls | 10 | $0.50 | $0.00 | – $0.50 | $ 0.00 |
| QCOM | Feb 15, 2023 $140 Calls | 6 | $3.10 | $4.10 | +$1.00 | $ 2,460.00 |
| TTI | Dec 15, 2023, $5 Calls | 20 | $1.10 | $0.00 | – $1.10 | $ 0.00 |
| UPST | Dec 15, 2023 $27.50 Calls | 2 | $3.48 (average cost) | $9.00 | +$5.52 | $ 1,800.00 |
| Available Cash | $ 142.83 | |||||
| Total Portfolio Value | $21,874.83 |
*Bid Price
Options2Wealth Portfolio Snapshot (Week ending December 8th, 2023):
|
Current Week |
Previous Week | Weekly Change | Weekly % Change | Total Current Value | YTD % Change |
Avail. Cash |
| $21,874.83 | $28,392.83 | – $6,518 | – 22.96% | $21,874.83 | +118.75% |
$142.83 |
After the markets closed on Friday, I learnt that Enphase Energy got the news that the Nasdaq 100 index, as part of its annual index portfolio recalibration, was being booted out off the index . This explains the big drop in ENPH on Friday.
Since the macro picture of the alternate energy sector is super bullish, in the grand scheme of things, this pullback in ENPH stock price is temporary and I fully expect ENPH to close the gap @ $115. However, since my current options position in ENPH is still profitable, I will immediately exit out of the position and wait for the stock to stabilize and consolidate before jumping back in with both feet.
ENPH has been very good for my O2W portfolio and I expect it to add more value to my portfolio again, and soon. Those who follow my blog know that this is may second bet on ENPH after the first one paid handsome dividends. I will hold on to 1 or 2 of my call contracts for tracking purpose.
Some or most of the cash raised from the sale I will plow into UPST which appears poised for a big upside move. The rest I will hold for new opportunities that are presenting themselves daily.
🙂
Onwards and upwards!
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.