The markets continued to be turbulent this past week as well…
However, this time it’s gripe was with the latest inflation data…
Even though the September inflation numbers showed that the Feds monetary policy was working, however, the number for September 2023 was the same as the previous month…the market would have preferred a lower number…
And then, the war in the Middle East between Israel and Hamas did not help…
In spite of the headwinds, the markets performed quite well…
Weekly Market Snapshot:
| Index | Previous Week’s Close | Current Week’s Close | Change | % Change |
| Dow | 33,407.58 | 33,670.29 | + 262.71 | + 0.79% |
| SPX | 4,308.50 | 4,327.78 | + 19.28 | + 0.45% |
| Nasdaq | 13,431.34 | 13,407.23 | – 24.11 | – 0.1.8% |
For the week, the Dow closed up 0.79% and the S&P up almost 0.45%. The tech-heavy Nasdaq was the laggard this past week, down fractionally 0.18%.
Stock Performance of Options2Wealth Portfolio Companies:
| Company | Weekly Close | Previous Close | Change | Percentage |
| Intel Corporation | $35.97 | $36.19 | –0.22 | – 0.61% |
| Tetra Technologies | $6.30 | $5.64 | +$0.66 | + 11.70% |
| Palantir Technologies | $17.36 | $16.61 | +$0.75 | + 4.52% |
| Microvast Holdings | $1.63 | $1.71 | –0.08 | – 4.68% |
| Upstart Holdings | $27.13 | $27.55 | –0.42 | – 1.53% |
Let’s now check the performance of my O2W portfolio over the past week:
Options2Wealth Options Portfolio:
| Company | Options | Quantity | Purchase Price | Weekly Close * | Price Change | Current Value |
| INTC | Nov 17, 2023 $35 Calls | 15 | $2.75 (Average) | $2.47 | – $0.28 | $3,705.00 |
| INTC | Oct 27, 2023 $43 Calls | 10 | $0.85 | $0.06 | – $0.79 | $ 60.00 |
| TTI | Dec 15, 2023 $5 Calls | 20 | $1.10 | $1.30 | + $0.20 | $2,600.00 |
| MVST | Dec 15, 2023 $2.5 Calls | 10 | $0.50 | $0.05 | – $0.45 | $ 50.00 |
| PLTR | Nov 17, 2023 $16 Calls | 10 | $1.68 | $2.34 | +$0.24 | $2,340.00 |
| UPST | Dec 15, 2023 $27.50 Calls | 1 | $5.20 | $4.30 | –$0.90 | $. 430.00 |
| Available Cash | $ 118.78 | |||||
| Total Portfolio Value | $9,303.78 |
*Bid Price
Options2Wealth Portfolio Snapshot (Week ending Oct 6th, 2023):
|
Current Week |
Previous Week | Weekly Change | Weekly % Change | Total Current Value | YTD % Change |
Avai. Cash |
| $9303.78 | $8434.43 | +$869.35.78 | + 10.31% | $9,303.78 | –6.96% |
$ 118.78 |
This past week, even though my portfolio outperformed the overall market handedly, however, overall it is down 6.96%.
Going forward, I feel quite confident about its prospects!
Weekly Musings:
Intel & Nvidia
This past week both INTC and NVDA outperformed the overall market, however, NVDA’s performance was especially impressive.
|
Stock |
Closing Price on October 6, 2023 | Price on Oct. 13, 2023 | Price Change | Percentage Change |
|
NVDA |
$457.62 | $454.61 | –$3.01 |
–0.66% |
| INTC | $35.55 | $35.97 | +$0.42 |
+1.18% |
Let’s see how the two stocks have fared since I postulated 5 weeks ago that the market-cap multiple between the 2 stocks will shrink:
|
Stock |
Closing Price on Sept 1, 2023 | Price on Oct. 13, 2023 | Price Change | Percentage Change |
|
NVDA |
$485.09 | $454.61 | —$30.48 |
—6.28% |
| INTC | $36.61 | $35.97 | —$0.64 |
—1.75% |
Over the past 6 weeks, on a percentage basis, NVDA’s stock price has come down almost 3.5x more than INTC’s stock price.
And therefore, NVDA’s market-cap has shrunk more than INTC and therefore its market cap multiple over INTC has also come down.
General Market Direction:
Last Thursday, October 5, 2023 I called the market bottom. The next day, Friday, the markets made a very impressive reversal and confirmed my previous day’s call!
However, in spite of the war in the Middle East between Israel and Hamas the markets are continuing to move up.
Wish you all a Happy Monday!
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.