The first trading week of 2024 was brutal for the markets in general, but for O2W portfolio, it was devastating, down over 40% during a short trading week. Talk about ushering in the New Year with a bang, or more appropriately, a bust!
However, thanks to my single biggest bet in my O2W’s 4+ month history, my portfolio not only pared back some of that 40% loss from the previous week, it is now sitting on a mouth-watering pile of cash…
But first, let’s check the general markets’ performance during the week ending January 12, 2024.
Weekly Market Snapshot:
| Index | Previous Week’s Close | Current Week’s Close | Change | % Change |
| Dow | 37,466.11 | 37,592.98 | +126.87 | + 0.34% |
| SPX | 4,697.24 | 4,783.83 | +86.59 | +1.84% |
| Nasdaq | 14,524.07 | 14,972.76 | +448.69 | +3.09% |
This past week, the Dow was up fractionally while the S&P was up a solid 1.84%. But the Nasdaq was on a tear, up a very impressive 3.09%
Stock Performance of Options2Wealth Current Portfolio Companies:
| Company | Stock’s Previous Weekly Close | Current Weekly Close | Change | Percentage Change |
| Amprius Technologies (AMPX) | $4.60 | $5.00 | + $0.40 | + 8.70% |
| C3.ai (Ai) | $27.26 | $26.21 | – $1.05 | – 3.85% |
| Enphase Energy (ENPH) | $115.39 | $110.22 | – $5.17 | – 4.48% |
| Enovix Corp. (ENVX) | $12.19 | $10.96 | – $1.23 | – 10.09% |
| First Solar (FSLR) | $166.87 | $160.44 | – $6.43 | – 3.85% |
| GigaCloud Technology (GCT) | $20.15 | $20.11 | – $0.04 | – 0.20% |
| Intel Corp. (INTC) | $47.64 | $47.12 | – $0.52 | – 1.09% |
| Mobileye Global (MBLY) | $30.49 | $30.07 | – $0.42 | – 1.38% |
| StoneCo Ltd (STNE) | $17.10 | $17.11 | + $0.01 | + 0.06% |
Yet another sea of red! 🙁
Now let’s check the performance of my O2W’s portfolio this past week…
After enduring a – 40% shellacking the previous week (January 5, 2024), my O2W portfolio clawed back up a respectable +18% this week.
And thanks to the portfolio’s large position in GCT calls, 60% of which I was able to unload at a 200%+ profit during GCT run up last Wednesday, now more than 60% of the O2W portfolio’s current Net Asset Value (NAV) is in cash. I plan to put this cash to work asap and have a number of opportunities that I am salivating over, and plan to take sizable positions in those opportunities this week.
Options2Wealth Options Portfolio Positions:
| Company | Option | Quantity | Purchase Price | Weekly Close* | Price Change | Current Value |
| Ai | Jan 19, 2024, $30 calls | 15 | $3.00 | $0.05 | – $2.95 | $ 75.00 |
| AMPX | March 15, 2024, Strike Price $6.00 | 25 | $0.65 | $0.40 | – $0.25 | $ 1,000.00 |
| ENPH | Feb 16, 2024, $170 calls | 6 | $5.50 | $0.43 | – $5.07 | $ 258.00 |
| ENVX | Jan 19, 2024, $12.50 calls | 10 | $1.55 | $0.04 | – $1.51 | $ 40.00 |
| FSLR | Feb 16, 2024, Strike Price: $190 | 6 | $5.88 (Average) | $1.15 | – $4.73 | $ 690.00 |
| GCT | Feb 16, 2024, Strike Price: $20 | 20 | $2.03 (Average) | $2.40 | + $0.37 | $ 4,800.00 |
| INTC | Feb. 16, 2024, $50 calls | 30 | $0.85 | $1.17 | +$ 0.32 | $ 3,510.00 |
| INTC | Feb. 16, 2024, $55 calls | 50 | $0.30 | $0.32 | +$ 0.02 | $ 1,600.00 |
| MBLY | Feb. 16, 2024, $50 calls | 30 | $1.08 | $0.00 | – $1.08 | $ 0.00 |
| STNE | Feb. 16, 2024, $17 calls | 20 | $0.95 | $1.00 | +$ 0.05 | $2,000.00 |
| Available Cash | $22,006.25 | |||||
| Total Portfolio Value | $35,979.25 |
* Bid Price
Note: Bolded denotes new Position(s).
Options2Wealth Portfolio Snapshot (Week ending January 12th, 2024):
| Current Week | Previous Week | Weekly Change | Weekly % Change | Total Current Value | YTD % Change* | Available Cash |
| $35,979.25 | $30,511.50 | $5,467.75 | +17.92% | $35,979.25 | +259.80% | $22,006.25 |
* Portfolio’s start date: September 5, 2023
Final Thoughts:
Last week I highlighted my bullishness on GCT stock and to underscore the point, I bet almost 50% of the portfolio’s NAV on GCT’s Feb 16, 2024, $20 strike price calls. Mine was a very calculated bet and it paid off big. However, I do not recommend others to make the kind of risky bets on short term options that I make. However, thanks to my conviction and my large bet, today my O2W portfolio is sitting on a nice pile of cash and in a very good position. Even though my portfolio took a big hit and fell from $56,000 to $30,000 in the very first week of January, but now with my sizable cash horde, I feel very confident going into options expiration week.
🙂
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.