The One Thing Everyone Is Still Ignoring
The Week Ahead - Volume 136
While Scottie Scheffler was making history winning his first PGA Championship yesterday at Quail Hollow, I got a hole-in-one! Perfect timing as the golf world witnessed one of its brightest stars add yet another major.
Last Week's Lossless Performance
Another strong week in the books as markets continued their resilient grind higher. Let's break it down:
ES Positions
Still maintaining my long ES position from 5630
Option Trades
5750C for (5/13) given @ 16:
Trimmed to 40% @ 90
Reduced to 10% @ 109.4
Final trim to 1% @ 142.7
Tuesday: 0DTE straddle resulted in a nice +20% realised gain
Wednesday: 5880/5890/5900 iron fly entered @ -7.85, settled at -2.58
Thursday: 5925C entered @ 11.95, trimmed half the position @ ~24.9, settled around ~33
Single Stock Gainers
Our recent stock picks performed exceptionally well last week:
CRDO led the pack with an impressive +18%
DKNG added +1.8%
Core Portfolio Holdings
My heaviest weighted positions all contributed positively:
UBER: +10.8%
META: +8%
MSFT: +3.6%
AMZN: +6.5%
AAPL: +6.4%
ASML: +6%
The PHASE II AI basket delivered standout performance too, with CRWV emerging as the star performer at +56% for the week.
No shock here! The widely doubted and under-owned market sparked an aggressive stop-in, sending SPX soaring more than 5% for the week.
Friday post-close we saw Moody’s downgrade the US credit rating from AAA to Aa1, this is what is driving US equity futures down 120bps this morning and has put long bonds back above 5%. Unlike the commentators, I am not all that concerned by this downgrade and don’t feel like I need to even comment on the matter other than saying it’s noise.