Here is a look at the performances of the 3 major market indices this past week:
| Index | Previous Weekly Close | Current Week’s Close | Change | Percentage Change |
| $DOW | 38,686.32 | 38,589.16 | –209.83 | –0.54% |
| $SPX | 5,277.51 | 5,431.60 | +84.61 | +1.58% |
| $COMPX | 16,735.02 | 17,688.88 | +555.76 | +3.24% |
The Dow, which just 4 weeks ago had notched the 40,000 point milestone for the first time to great fanfare, has pulled back and now is consolidating around the 38,500 point mark, digesting the very impressive 30%+ gain it has been able to achieve over the last 12 months.
This past week, the S&P and the Nasdaq, following the Dow’s lead, also closed at new all-time highs! And like the Dow, both these indices have also gained 30%+ in less than 12 months! Very impressive performance by the US equity markets. I am expecting the markets to continue to march upwards for the next few weeks…and if I am right, then my O2W portfolio’s NAV has a good chance to regain its lost ground when it was up more than 1,200% back on March 1, 2024
Performance of the O2W portfolio companies this past week:
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* Bid Price
Mirroring the strong performance of the Nasdaq, my O2W portfolio performed equally well, going up more than 60% in one week!
Options2Wealth Options Portfolio Positions:
| Company | Option | No of Contracts | Purchase Price | Weekly Close* | Price Change | Current Value | |
| AMPX | 10 January 17, 2025, $5 Calls | 10 | $1.05 | $ 0.00 | –$ 1.05 | $ 0.00 | |
| CLSK | July 19, 2024, $17 calls | 20 | $4.10 | $ 2.50 | –$ 1.60 | $ 5,000.00 | |
| GCT | June 21, 2024, $40 calls | 20 | $3.20 | $ 0.00 | –$ 3.20 | $ 0.00 | |
| HIMS | July 19, 2024, strike price $20 | 20 | $1.80 | $ 4.40 | +$2.60 | $ 8,800.00 | |
| MARA | June 21, 2024, $19 calls | 30 | $ 3.47 (Average) | $ 1.11 | –$ 2.36 | $ 3,330.00 | |
| MCHP | July 19, 2024, $90 calls | 10 | $ 8.75 | $ 4.10 | –$4.65 | $ 4,100.00 | |
| ORCL | July 19, 2024, $120 calls | 20 | $ 4.85 (Average) | $18.30 | +$13.45 | $ 36.600.00 | |
| OSCR | July 19, 2024, $15 calls | 10 | $ 4.25 | $ 4.20 | –$ 0.05 | $ 4,200.00 | |
| SMCI | June 21, 2024 $800 calls | 1 | $75.70 | $55.10 | –$ 20.60 | $ 5,510.00 | |
| SMCI | June 21, 2024 $1,250 calls | 2 | $13.33 (Average) | $ 0.30 | –$13.03 | $ 60.00 | |
| Sub-Total | $ 67,600.00 | ||||||
| Available Cash | $ 742.25 | ||||||
| Total Portfolio Value | $ 68,342.25 | ||||||
* Bid Price
Options2Wealth Portfolio’s NAV Snapshot (Week ending June 14th, 2024):
| Current Weekly Close | Previous Week | Weekly Change | Weekly % Change | Total Current Value | YTD % Change* | Available Cash |
| $68,342.25 | $ 42,012.25 | +$26,330.00 | +62.67% | $68,342.25 | +583.42% | $742.25 |
* Portfolio’s start date: September 5, 2023 with $10,000
Final Thoughts:
For 2 straight weeks, my portfolio has outperformed the overall markets — nd by a long-shot! Of course, the solid move by Oracle stock after its earnings announcement last Tuesday made a big difference in O2W’s NAV…And SMCI and HIMS also contributed to its 62% lift this week.
Now for 2 straight weeks, Bitcoin has proven me wrong and instead of breaking out as I have been predicting, its price has tightly wound itself around its 50 DMA line, which currently sits at $66,197. Bitcoin last traded at $66,236. However, I am absolutely convinced that Bitcoin is on the verge of a breakout, and it should make a new all-time high in a matter of weeks, and not more than 3 weeks! And when it does, CLSK and MARA will both go to the moon.
Also, this coming week being options expiration, I expect lots of volatility.
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.