Monday, August 01, 2022

July 2022 Performance

Not sure if this is a real or bear rally, but I will take what I can get in July. My position remains status quo with no changes to the portfolio. I do not see any attractive plays to go in really big. I remember the good old days when Visa went public during the financial crisis, and you knew you were getting that IPO at a decent price. I wish we have some IPOs willing to brave this market. Then we will know how healthy this market really is.
Still selling the weekly options to generate income. It has been slow and steady, but sometimes it can be stomach churching. For example, I went fairly big in Visa and Mastercard last week as an earnings’ play. Everything was going smoothly as planned until WSJ broke the news that the Senate was looking at reducing the credit card transaction fees. Visa and Mastercard too a quick dive and fortunately bounced back, I came out fine, but if Visa and Mastercard continued its decent, I would have been in some trouble.
Stay safe in this market…
2022 Performance = -5.19% with the running monthly returns as follows:

January -0.68%
February -6.00%
March +4.89%
April -4.41%
May -2.90%
June -7.28%
July +12.5%