This is the fourth weekly update in a row that my O2W portfolio has gone down…when will the downward slide end?
🙁
Let’s start with an update on last week’s overall markets’ performance(s):
Unlike the past week when all 3 indices were on a tear, this week the markets performance was mixed. The Dow and S&P were up 0.84% and 0.39% respectively, while the Nasdaq pulled back 0.30% for the week.
| Index | Previous Weekly Close | Current Week’s Close | Change | Percentage Change |
| $DOW | 39,476.90 | 39,807.37 | +330.47 | +0.84% |
| $SPX | 5,234.18 | 5,254.35 | +20.17 | +0.39% |
| $COMPX | 16,428.82 | 16,379.46 | –49.36 | –0.30% |
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 |
| Advanced Micro Devices (AMD) | $179.65 | $180.49 | +0.84 | + 0.47% |
| Amprius Technologies (AMPX) | $ 2.76 | $ 2.65 | –$ 0.11 | – 3.99% |
| ARM Holdings | $134.15 | $124.99 | –$ 9.16 | – 6.83% |
| Oracle Corporation (ORCL) | $ 127.79 | $ 125.61 | –$ 2.16 | – 1.69% |
| Palo Alto Network (PANW) | $ 286.78 | $ 284.13 | –$ 2.65 | – 0.92% |
Performance of my O2W portfolio’s long positions:
| Company | Option | Quantity | Purchase Price | Weekly Close* | Price Change | Current Value |
| AMD | May 17, 2024, $200 calls | 10 | $ 14.90 | $ 6.80 | –$ 8.10 | $ 6,800.00 |
| AMPX | January 17, 2025, $5 calls | 10 | $ 1.05 | $ 0.25 | –$ 0.80 | $ 250.00 |
| ARM | May 17, 2024, $140 calls | 10 | $13.25 | $7.80 | –$ 5.45 | $ 7,800.00 |
| ORCL | May 17, 2024, $125 calls | 15 | $ 6.32 (average) | $4.25 | –$ 2.07 | $ 6,375.00 |
| PANW | July 19, 2024, $300 calls | 5 | $ 15.60 | $18.95 | +$ 3.35 | $ 9,475.00 |
| STNE | May 17, 2024, $18 calls | 10 | $1.70 | $0.60 | –$ 1.10 | $ 600.00 |
| Sub-Total | $31,300.00 | |||||
| Available Cash | $25,857.00 | |||||
| Total Portfolio Value | $ 57,157.00 |
* Bid Price
Options2Wealth Portfolio Snapshot (Week ending March 29, 2024):
| Current Weekly Close | Previous Week | Weekly Change | Weekly % Change | Total Current Value | YTD % Change* | Available Cash |
| $ 57,157.00 | $ 67,482.00 | —$10,325.00 | —15.30% | $ 57,157.00 | +471.57% | $ 25,857.00 |
* Portfolio’s start date: September 5, 2023 with $10,000
Final Thoughts:
It is now 4 weeks in a row my O2W portfolio’s NAV has gone down. Every time the past 4 weeks when I thought the portfolio had hit bottom, it proved me wrong by going down some more…On March 8th, it went down 29%; then a week later it was down almost 4%, raising my hopes that the slide may have ended; but then on March 22nd, it went down almost 29% and then this week past week it went down another 15%! Even though O2W is still up 471% since September, I am not happy to watch it drop 57% from its $134K high notched the week of March 8th.
Since I am sitting on a cash cushion of $25K, I feel confident that when the tide turns, the O2W’s NAV will quickly zoom past the $134K value set a month ago…
I believe this past week was mostly window dressing by portfolio managers wanting to bag profits after a sizzling first quarter, and hence the downdraft. Tomorrow is the start of a brand new quarter and with a new earnings season on the horizon, I think my portfolio should start another run–up this coming week! We shall find out soon… 🙂
Since I believe my positions have hit bottom and they will begin to move up this week, I will therefore take advantage of the April Fool Day’s Blue Light Specials and put my money where my mouth is and add to the following positions tomorrow:
- AMD: Will buy 5 additional contracts of the May 17, 2024, $200 calls, current ask: $6.95
- ARM: Buy 5 more contracts of ARM’s May 17, 2024, $140 calls, current ask: $8.50
- ORCL: Will add 5 more contracts to my current 15 contracts of ORCL’s May 17, 2024, $125 calls, current ask: $4.35
Keeping my fingers crossed… 🙂
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.