This past week the indices put in a mixed performance…The DOW could not hold the 40,000 level it had reached the previous week with great fanfare and pulled back 2.33%, The Nasdaq was up 1.41% and the S&P basically went sideways:
| Index | Previous Weekly Close | Current Week’s Close | Change | Percentage Change |
| $DOW | 40,003.59 | 39,069.59 | –934.00 | –2.33% |
| $SPX | 5,303.27 | 5,304.72 | +1.45 | +0.03% |
| $COMPX | 16,685.97 | 16,920.79 | +234.82 | +1.41% |
Performance of the O2W portfolio companies this past week:
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* Bid Price
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 | $ 0.10 | –$ 0.95 | $ 100.00 | |
| CLSK | July 19, 2024, $17 calls | 20 | $4.10 | $ 3.20 | –$ 0.90 | $ 6,400.00 | |
| GCT | June 21, 2024, $40 calls | 20 | $3.20 | $ 0.80 | –$ 2.40 | $ 1,600.00 | |
| MARA | June 21, 2024, $19 calls | 30 | $ 3.47 (Average) | $ 3.40 | –$ 0.07 | $ 10,200.00 | |
| MCHP | July 19, 2024, $90 calls | 10 | $ 8.75 | $ 9.90 | +$1.15 | $ 9,900.00 | |
| ORCL | July 19, 2024, $120 calls | 20 | $ 4.85 (Average) | $ 4.75 | –$ 0.10 | $ 9.440.00 | |
| OSCR | July 19, 2024, $15 calls | 10 | $ 4.25 | $ 5.80 | +$1.55 | $ 5,800.00 | |
| SMCI | June 21, 2024 $800 calls | 1 | $75.70 | $110.70 | +$45.60 | $ 11,075.00 | |
| SMCI | June 21, 2024 $1,250 calls | 2 | $13.33 (Average) | $ 3.50 | –$9.83 | $ 700.00 | |
| Sub-Total | $ 55,215.00 | ||||||
| Available Cash | $ 4,355.25 | ||||||
| Total Portfolio Value | $ 59,570.25 | ||||||
* Bid Price
Options2Wealth Portfolio’s NAV Snapshot (Week ending May 10th, 2024):
| Current Weekly Close | Previous Week | Weekly Change | Weekly % Change | Total Current Value | YTD % Change* | Available Cash |
| $ 59,570.25 | $ 64,911.25 | –$5,341.00 | –8.23% | $ 59,570.25 | +495.70% | $ 4,355.25 |
* Portfolio’s start date: September 5, 2023 with $10,000
Final Thoughts:
Want to share the reason behind my call positions in CLSK and MARA. Both these stocks act as proxies for BitCoin. And I am very bullish on Bitcoin. Its chart is setting up for an explosive up move within 2-4 weeks and both CLSK and MARA will be big beneficiaries of Bitcoin price appreciation. I see Bitcoin heading towards the $100,000 value before the end of the year…
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.