I am happy with last week’s performance of O2W portfolio thanks in large part to my position in SMCI.
But first, let’s look at the overall market’s performance for the week ending February 2024:
| Index | Previous Weekly Close | Current Week’s Close | Change | Percentage Change |
| $DOW | 38,109.43 | 38,654.42 | 544.99 | 1.43% |
| $SPX | 4890.97 | 4958.61 | 67.64 | 1.38% |
| $COMPX | 15,455.36 | 15,628.95 | 173.59 | 1.12% |
This past week, all 3 indices put in solid performances. The Dow was the leader, up 1.43%, followed by the S&P 500, up 1.38% and tech-heavy Nasdaq was the laggard but still up a solid 1.12.
Now let’s look at the performance of the O2W companies:
| Company | Stock’s Previous Weekly Close | Current Weekly Close | Change | Percentage Change |
| Amprius Technologies (AMPX) | $ 4.12 | $ 4.07 | –$0.05 | –1.21% |
| Enphase Energy (ENPH) | $105.37 | $101.76 | –$3.61 | –3.43% |
| First Solar (FSLR) | $147.83 | $141.82 | –$6.01 | –4.07% |
| GigaCloud Technology (GCT) | $25.62 | $ 25.00 | –$0.62 | –2.42% |
| Intel Corp. (INTC) | $43.65 | $ 42.60 | –$1.05 | –2.41% |
| Mobileye Global (MBLY) | $28.38 | $ 26.57 | –$1.81 | –6.38% |
| Qualcomm, Inc. | $150.72 | $141.69 | –$9.03 | –5.99% |
| Sun Micro Computer (SMCI) | $474.15 | $579.63 | +$105.48 | + 22.25% |
| StoneCo, Ltd. (STNE) | $ 18.10 | $ 18.21 | +$0.11 | + 0.61% |
Note: Bolded are new Positions.
As can be seen from the above table, the portfolio yet again had to swim in a sea of red yet still managed to close up. Thanks to my timely bet on SMCI on Thursday when it dropped $10 at the open, spooked many, before zooming up $105.48. and in the process pulling the O2W portfolio from below and landing it squarely in positive territory for the week!
It’s time to check the performance of O2W portfolio’s each long position:
Options2Wealth Options Portfolio Positions:
| Company | Option | Quantity | Purchase Price | Weekly Close* | Price Change | Current Value |
| AMPX | 10 January 17, 2025, $5 Calls | 10 | $1.05 | $0.50 | –$0.50 | $ 500.00 |
| AMPX | Mar 15, 2024, $6.00 calls | 25 | $0.65 | $0.00 | –$0.65 | $ 0.00 |
| ENPH | Feb 16, 2024, $170 calls | 10 | $3.46(Average) | $0.05 | –$3.41 | $ 50.00 |
| FSLR | Feb 16, 2024, $190 calls | 6 | $6.10 | $0.06 | –$6.04 | $ 60.00 |
| GCT | Feb 16, 2024, $20 calls | 20 | $2.03(Average) | $5.00 | +$ 2.97 | $10,000.00 |
| GCT | Mar 15, 2024, $20 calls | 30 | $2.70 | $3.30 | +$ 0.60 | $ 9,900.00 |
| INTC | Feb. 16, 2024, $50 calls | 30 | $0.85 | $0.01 | –$0.84 | $ 30.00 |
| INTC | Feb. 16, 2024, $55 calls | 50 | $0.30 | $0.00 | –$0.30 | $ 0.00 |
| MBLY | Feb. 16, 2024, $50 calls | 30 | $1.08 | $0.00 | –$1.08 | $ 0.00 |
| QCOM | March 15, 2025, $140 Calls | 1 | 6.25 | $3.75 | –$2.50 | $ 375.00 |
| STNE | Feb. 16, 2024, $17 calls | 20 | $0.95 | $1.40 | +$0.45 | $ 2,800.00 |
| STNE | March. 15, 2024, $17 calls | 25 | $1.60 | $2.05 | +$0.45 | $ 5,125.00 |
| STNE | March 15, 2024, $20 calls | 25 | $0.55 | $0.70 | +$0.15 | $ 1,750.00 |
| SMCI | March 15, 2024, $550 calls | 3 | $30.00 | $67.40 | +$37.40 | $20,220.00 |
| Sub-Total | $50,810.00 | |||||
| Available Cash | $ 5,055.85 | |||||
| Total Portfolio Value | $55,865.85 |
* Bid Price
Note: Bolded denotes new Position(s).
Options2Wealth Portfolio Snapshot (Week ending February 5th, 2024):
| Current Weekly Close | Previous Week | Weekly Change | Weekly % Change | Total Current Value | YTD % Change* | Available Cash |
| $55,865.85 | $47,829.90 | $8,035.95 | +16.80% | $55,865.85 | +458.65% | $5,055.85 |
* Portfolio’s start date: September 5, 2023 with $10,000
Final Thoughts:
Even though my new O2W portfolio is up 458% in 5 months, to be honest, I am disappointed with my overall performance.
Like anybody, I hate to see so many of my positions in red, or worse, down to zero. I was expecting my trades to deliver much better performance. Many may not be aware that my portfolio made substantial money in the options of these same stocks that have now turned to mush. The O2W portfolio is up 458% today because of some very profitable previous trades in ENPH, FSLR, INTC and MBLY and the options that are in red today are the forward call contracts that I bought on the cheap after taking big profits off the table from my original trades in these very companies.
Nevertheless, I am disappointed by the performances of my 3 favorite stocks: ENPH, FSLR and INTC. I do believe that INTC’s pull-back is temporary and the stock will turn around, possibly as soon as this week, however, I don’t have a handle as to when ENPH and FSLR will turn around. But when they do, I know the O2W portfolio will profit handsomely from their turnaround!
FWIW, my new favorite stock is SMCI and I have big plans to profit from this rocket ship. Currently, its RSI is in nose-bleed (87+) territory and I am tempted to take some profits off the table…But at the same time, knowing how undervalued this stock is, I am reluctant to sell my options I got at a steep discount…However, looking at its weekly chart, I think the stock may be ready for a pull-back…I will be monitoring its trading very carefully tomorrow and the rest of the week and then make a decision…no matter what, SMCI is a very exciting find!
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