My Portfolio Journal January 2024

As January 2024 draws to a close, I've taken some time to reflect on the shares I acquired in 2023 and the trades executed during the month.

Trades Closed

As detailed in Trade Recap For the Past Month, I successfully closed my sell put options for $Microsoft(MSFT)$ and XLK, both yielding profits.

XLK Put

MSFT Put

Trades Opened

• Sell $XHB 20240216 85.0 PUT$

XHB Put Chart

I hold a bullish sentiment for this ETF, anticipating growth in the homebuilders sector over the next few years. Despite this optimism, I'm currently only selling puts to capture premium gains. It's a somewhat conservative move to leverage idle funds, and I plan to hold until expiration for this trade.

XHB Put

Notes:

XHB Daily Chart

Looking at the daily chart, the price is consolidating and appears poised to test the 97 range. A breakout from this consolidation could signal the next leg up.

• Sell $BABA 20240216 70.0 PUT$

BABA Put Chart

Initially prepared to be assigned shares if the price dropped below 70, recent news of Jack Ma accumulating more shares led to a price increase, hovering now above 70. I plan to hold this put until expiry, and if the price falls below 70, I'll join the BABA bagholders club. [LOL] 

BABA Put

• Sell $TSLA 20240216 180.0 PUT$

TSLA Put Chart

Entering this trade as prices approached 200 and implied volatility rose towards earnings, I selected a strike price of 180, assuming it would stay above 200. Unfortunately, post-earnings, the price dipped to 180, resulting in a substantial increase in the contract's value. Despite the unexpected turn, I'm still holding onto this trade. My plan is to cut losses if prices fail to hold above 183. As the intention was never to add more shares through this trade, it's crucial to recognize when to take a loss and move on.

TSLA Put

Stocks

My Portfolio

Portoflio Sizes

My portfolio predominantly comprises $Nasdaq100 Bull 3X ETF(TQQQ)$ , a position I advise against mirroring. Accumulated since 2022, it has become my largest holding, delivering substantial gains. Despite understanding the associated risks, my thesis is rooted in the belief that the bull market will persist, with the Nasdaq 100, primarily composed of tech companies, continuing to lead the market and economy.

I have more success in options trading than predicting the future, so I could be dead wrong. [Cool] 

January Rate of Return

Closing January with a rate of return of 7.47%, my plan for the next month is to consider buying more shares in my portfolio if prices dip, excluding TQQQ, given its already significant share in my holdings. Additionally, I intend to gain exposure to the Chinese market using BABA shares if I get assigned next month through my options trade.

January has been a month marked by strategic moves and reflections on my portfolio. Closing profitable options trades for MSFT and XLK added to the positive momentum. As for the open trades, the TSLA put trade serves as a valuable lesson in options volatility and the importance of sticking to my trading plan. As I move into February, these experiences will inform my decisions, and I look forward to the continued changes and growth of my portfolio.

Disclaimer:

The information presented in this portfolio journal is provided for informational purposes only and should not be construed as financial advice. The author is not a financial advisor, and all trading decisions should be made after careful consideration of individual financial circumstances. Investing involves risks, and past performance is not indicative of future results. Readers are encouraged to conduct their own research before making any investment decisions. The author may have positions in the securities discussed, and any actions taken by readers are at their own risk. The author disclaims any responsibility for inaccuracies or omissions in the content and is not liable for any financial losses or damages incurred by readers based on the information provided.

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