Going forward, I am going to try to shorten my weekend updates…it takes way too much time…
Of the 3 major indices, only the Dow was down, and fractionally (-0.11%). The Nasdaq was on a tear, up 1.74% and the S&P was no slouch either, up a solid 0.95%
| Index | Previous Weekly Close | Current Week’s Close | Change | Percentage Change |
| $DOW | 39,131.53 | 39,087.38 | –44.15 | –0.11% |
| $SPX | 5088.80 | 5137.08 | 48.28 | +0.95% |
| $COMPX | 15,996.82 | 16,274.94 | 278.12 | +1.74% |
End of the week look at the performance of the O2W portfolio companies:
| Company | Stock’s Previous Weekly Close | Current Weekly Close | Change | Percentage Change |
| Amprius Technologies (AMPX) | $ 3.38 | $ 3.09 | –$0.29 | –8.58% |
| First Solar (FSLR) * | $142.89 | $158.05 | +$15.16 | +10.92% |
| GigaCloud Technology (GCT) | 32.31 | $ 39.46 | +$7.15 | 22.13% |
| Palo Alto Network (PANW)* | $282.09 | $302.40 | $20.31 | +7.20% |
| Qualcomm, Inc. * | $154.91 | $163.09 | +$8.18 | +5.28% |
| StoneCo, Ltd. (STNE) | $ 16.83 | $ 17.12 | +$0.29 | + 1.72% |
| Tesla | $191.97 | $202.64 | +$10.67 | +5.56% |
* Even though I exited my positions in FSLR and QCOM, I kept them both in here for this week’s up-date to remind myself of my mistakes: exiting out of FSLR for a loss and QCOM for a small profit. 🙁
Time to check the performance of my O2W portfolio’s dwindling long positions:
| Company | Option | Quantity | Purchase Price | Weekly Close* | Price Change | Current Value |
| AMPX | 10 January 17, 2025, $5 Calls | 10 | $1.05 | $0.40 | –$ 0.65 | $ 400.00 |
| AMPX | Mar 15, 2024, $6.00 calls | 25 | $0.65 | $0.00 | –$ 0.65 | $ 0.00 |
| GCT | April 19, 2024, $30 calls | 10 | $4.80 | $10.60 | +$ 5.80 | $ 10,600.00 |
| PANW | July 19, 2024, $300 calls | 5 | $15.60 | $33.70 | +$ 18.10 | $ 16,850.00 |
| STNE | March 15, 2024, $20 calls | 25 | $0.55 | $0.05 | –$ 0.50 | $ 125.00 |
| TSLA | April 19, $180 calls | 5 | $22.00 | $28.15 | +$6.15 | $ 14,075.00 |
| TSLA | March 15, $190 calls | 10 | $9.10 | $14.60 | +$5.50 | $ 14,600.00 |
| TSLA | April 19, $200 calls | 10 | $12.10 | $15.30 | +$0.95 | $ 15,300.00 |
| Total of Long Positions | $ 71,950.00 | |||||
| Available Cash | $ 62,722.85 | |||||
| Total Portfolio Value | $ 134,672.85 |
* Bid Price
Options2Wealth Portfolio Snapshot (Week ending March 1, 2024):
| Current Weekly Close | Previous Week | Weekly Change | Weekly % Change | Total Current Value | YTD % Change* | Available Cash |
| $ 134,672.85 | $ 115,117.35 | +19,555.555 | +16.99.70% | $ 134,672.85 | +1,246.73% | $ 62,722.85 |
* Portfolio’s start date: September 5, 2023 with $10,000
Final Thoughts:
As I said in my previous post, I did not reach the coveted $1,000,000+ mark in 6 months and have already given my sheepish explanation for my lack of performance this time around…of all people, I am most sorry to disappoint my wife who not only urged me to re-start my Options2Wealth blog, she was also very vociferously rooting for me to hit the number one more time…Sorry, honey, no new Hermès bag for you… 🙁
Furthermore…
1) It hurts that last week I got faked out of my FSLR position and that too for a loss! I exited because it broke its Bullish Support Line (BSL)…at that time I said that I will only get back in when FSLR pierces its Bearish Resistance Line (BRL):
“When the bullish resistance line breaks, I run for the exits…For all I know, it could well be a false break and FSLR may turn around and head back up…however, for me to buy back into FSLR, it will first need to pierce its bearish resistance line (that is the sloping red line above…”
Well it did just that! Therefore, it is time for me to get right back in FSLR. I will therefore buy 10 contracts of FSLR May 17 2024, 160 Calls (current ask: $13.95) tomorrow.
2) And since I am uber bullish on TSLA, first thing tomorrow, I will buy 20 additional contracts of TSLA’s April 19, $200 Calls (current ask $15.50)
3) I also sold my QCOM prematurely however I won’t buy back in because it got away from me when it broke a triple top and then just ran—but without me! Oh well, you win some and lose some and with QCOM, I am content holding a bagful of regrets… 🙁
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.