Today being a busy Sunday for me, I will be somewhat brief…
General Market Direction:
Weekly Market Snapshot:
| Index | Previous Week’s Close | Current Week’s Close | Change | % Change |
| Dow | 34,947.28 | 35,390.15 | +442.87 | +1.27% |
| SPX | 4,514.02 | 4,559.34 | + 45.32 | +1.00% |
| Nasdaq | 14,125.48 | 14,250.85 | + 125.37 | +0.89% |
The markets again moved up this past week. However, this time it was the S&P index that notched the best gain, up 1.27%, with the Dow in 2nd place up 1.00% and the Nasdaq turned out to be the laggard, up only 0.89%!
Stock Performance of Options2Wealth Current Portfolio Companies:
| Company | Previous Week’s Close | Current Week’s Close | Change | Percentage Change |
| Enphase Energy | $92.86 | $100.22 | + $7.36 | + 7.93% |
| Intel Corporation | $43.81 | $43.96 | + $0.15 | + 0.34% |
| Microvast Holdings | $1.34 | $1.01 | – $0.33 | – 24.63% |
| Mobileye Global | $41.50 | $43.56 | + $2.06 | + 4.96% |
| Tetra Technologies | $4.74 | $4.81 | + $0.07 | + 1.48% |
| Upstart Holdings | $25.48 | $23.73 | – $1.75 | – 6.87% |
Now let’s check the performance of my O2W portfolio over the past week:
Options2Wealth Options Portfolio:
Only current open positions are listed in this table. Any position(s) closed during the week have been deleted. The available cash is the most current number.
NOTE: Options bolded below are new positions that were initiated during this past week. Also, as can be seen below, my portfolio’s options positions have changed. Please refer to a couple of my recent posts to bring yourself up to speed…
| Company | Options | Quantity | Purchase Price | Weekly Close* | Price Change | Current Value |
| ENPH | Dec 15, 2023,$95 calls | 13 | $5.65 | $7.90 | +$2.25 | $10,270.00 |
| INTC | Feb 16, 2024, $50 Calls | 30 | $0.85 | $0.94 | +$0.09 | $ 2,820.00 |
| INTC | Feb 16, 2024, $55 Calls | 50 | $0.30 | $0.31 | +$0.01 | $ 1,550.00 |
| MBLY | January 19, 2024, $40 calls | 15 | $1.85 | $4.90 | +$3.05 | $ 7,350.00 |
| MBLY | February 16, 2024, $50 calls | 30 | $1.08 | $1.45 | +$0.37 | $ 4,350.00 |
| MVST | Dec 15, 2023 $2.5 Calls | 10 | $0.50 | $0.00 | – $0.50 | $ 0.00 |
| TTI | Dec 15, 2023, $5 Calls | 20 | $1.10 | $0.00 | – $1.10 | $ 0.00 |
| UPST | Dec 15, 2023 $27.50 Calls | 2 | $3.48 (average cost) | $0.49 | – $2.99 | $ 98.00 |
| Available Cash | $ 8.53 | |||||
| Total Portfolio Value | $26,446.53 |
*Bid Price
Options2Wealth Portfolio Snapshot (Week ending November 24th, 2023):
|
Current Week |
Previous Week | Weekly Change | Weekly % Change | Total Current Value | YTD % Change |
Avai. Cash |
| $26,446.53 | $21,398.48 | +$5,048.20 | +23.59% | $26,446.53 | +164.47% |
$8.53 |
I am pleased to see my O2W double in value in little over 2 months! I’m especially pleased because the portfolio was able to accomplish this double in spite of a very challenging trading environment in the US equity markets over the past 2 months…
Intel & Nvidia
Approximately 12 weeks ago, when I started my Options2Wealth blog, I allocated the largest percentage into Intel call options. The reason behind my big bet was because I believed then, and it looks like the the market is agreeing with me now, that Intel stock, compared to NVDA had been grossly mis-priced. Just as I had predicted, the market-cap multiple between the 2 companies is slowly but surely starting to come down! As of last week, the current multiple is now 6.4x, down from almost 8x NVDA enjoyed over INTC when I first began tracking the two companies.
Since the market has recognized the glaring discrepancy between Nvidia and Intel’s market-cap multiple and has started to correct it, I will, going forward, only track these 2 stocks once a month as opposed to once every week.
|
Stock |
Price on Sept. 1, 2023 | Price on Nov. 24, 2023 | Price Change |
Percentage Change |
|
NVDA |
$485.09 | $477.71 | – $7.38 |
– 1.52% |
|
INTC |
$36.61 | $43.92 | +$7.31 |
+19.97% |
This past week, while Intel’s share price stayed stable, NVDA’s price was all over the map. It finally ended the week down $7.38
And the market-cap multiple between the 2 companies, which has been my bone of contention all along, is shrinking! Now, NVDA
Intel though is on a tear!!!
And the Options2Wealth portfolio has scored a double. Its bet on Intel definitely helped!
Wish you all a safe Monday and a happy start to a safe Holiday Season!
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.