Week 25 / NVDA Covered Call, BMY Spread Risk, UBER Spread, MCD Added
| | 31 seen
As of September 26, 2025, our covered call stock portfolio has reached $8,807, slightly decreasing by -0.58% (-$50). Year-to-date, the portfolio is up +12.75%. Technically, last week’s drop might be attributed to USD/EUR exchange rate fluctuations, as our base currency is set to EUR and we are therefore affected by forex movements.
This week, we collected $92 from selling options, what is well above my goal to generate at least 1% weekly in options premium (1.04% this week).
This was a relatively slow week with no major swings, unlike in the Terramatris crypto hedge fund, where we experienced a 17% drop. One troubled trade appears to be the credit spread on BMY, with the price falling below our strike. Since there are still about two weeks until expiry, I will monitor it closely and, if necessary, roll it down and forward, preferably for a credit.
Last week also put some pressure on our MCD shares. In general, I am against buying stocks on margin while we are still paying off debt, but this week I decided it wouldn’t do much harm to add 0.1 MCD shares to the portfolio.…
How To incorporate an LLC in Wyoming for a Crypto Hedge Fund
| Doing Business | 26 seen
When setting up Terramatris, our crypto hedge fund, one of the earliest strategic decisions we faced was choosing the right jurisdiction for incorporation. After weighing options like the Cayman Islands, British Virgin Islands or Panama, we ultimately decided on Wyoming, USA. Here’s why.
Many hedge funds gravitate toward Caribbean jurisdictions because of their established offshore structures and global recognition. However, for Terramatris, Wyoming offered three key advantages:
While Cayman or BVI entities remain popular for large-scale funds, Wyoming proved a better fit for our structure and current operational needs.
Taxation in WyomingWyoming is widely regarded as one of the most tax-friendly states in the U.S. Key points:
- No state corporate income…
Chateau Ateni. Gori
| Living in Georgia | 21 seen
This time (May 2025), our journey takes us to Gori and the enchanting Chateau Ateni - a hidden gem where authentic Georgian cuisine blends seamlessly with avant-garde natural wines, soulful traditional dance, and even the charming surprise of a small chick farm.
What makes this trip extra special is sharing it with our Latvian/Georgian friends, Soso and Ilva, whose warm hospitality turned the visit into a memory to treasure. We stayed in their lovely cottages, cozy retreats surrounded by nature, and had the joy of sipping on their very own pet-nat wine under the Georgian skies.
It was a weekend filled with laughter, storytelling, and the simple pleasures of food, and wine - proof once again that the best adventures are those shared with people you love.
Week 24 / BMY & NVDA Rolls Pay Off; Portfolio +1.15% This Week
| | 26 seen
As of September 19, 2025, our covered call stock portfolio has reached $8,858, marking another weekly gain of +1.15% (+$105). Year-to-date, the portfolio is up +12.39%. Technically, we’re slightly underperforming the S&P 500 (+13.31%), but I’m very satisfied with the progress - the $10K milestone with every week comes closer.
Surprisingly, for most of the week it seemed we would end with a negative return, but it ultimately turned out better than expected.
This week, we collected $162 from selling options, what is well above my goal to generate at least 1% weekly in options premium (1.82% this week).
This was quite a turbulent week for our options trades, and mid-week I rolled out and forward the put spreads on NVDA and BMY.
I rolled the NVDA 172.5 put down to 170 and out to next week’s expiry, while BMY looked more troubled, so I extended it further out to the October 10 expiry, capturing a heftier options premium.
We keep holding one covered call on NVDA with a $113 strike price expiring on December 19…
Birthday in Thessaloniki, Greece
| Travel guides | 33 seen
Turning 40 is a milestone worth celebrating in style, and what better way than in Thessaloniki — a city that seamlessly blends history, culture, and cuisine. From affordable flights and boutique stays to seafood feasts and hidden beaches, our journey turned into an unforgettable week-long adventure.
Getting There: Kutaisi to ThessalonikiOur adventure began in Kutaisi, Georgia, with a direct Wizzair flight to Thessaloniki. Wizzair’s budget-friendly routes made the trip smooth and convenient, a reminder that Europe’s treasures are often closer (and cheaper) than we think. Just a couple of hours in the air, and we landed in the heart of northern Greece — the gateway to the Mediterranean.
Where We Stayed: Boutique Comfort & Local AirbnbFor the first part of the trip, we checked into the charming S Hotel, nestled right in the heart of Thessaloniki’s Old Town. With narrow cobblestone streets, colorful facades, and plenty of history, it was the perfect backdrop for celebrating a big birthday. The boutique hotel offered a cozy yet stylish stay, surrounded by authentic tavernas and lively cafés.
Later, we switched gears and tried a local …
Week 23 / BMY Roll & NVDA Rally: Covered Call Portfolio Update
| | 40 seen
Greetings from Kakheti’s Alazani Valley! This weekend we came here to enjoy the beauty of the region and to host a small office party with Caulingo, where I sometimes work when I’m not focused on fund operations at Terramatris or managing our covered call portfolio.
Jokes aside:
As of September 12, 2025, our covered call stock portfolio has reached $8,757, marking another weekly gain of +2.4% (+$205). Year-to-date, the portfolio is up +12.12%. Technically, we’re slightly underperforming the S&P 500 (+12.365), but I’m very satisfied with the progress - the $10K milestone feels just around the corner.
This week, we collected $122 from selling options, what is slightly above my goal to generate at least 1% weekly in options premium (1.39% this week).
Our portfolio remains concentrated in NVDA stock. This week turned out to be a bounce-back, though at one point we were concerned about adjusting the $162.5 put we had sold last week—until NVDA suddenly surged past $177.
Our position in BMY didn…
Week 22 / Options Income Report: 1.25% Weekly ROI From NVDA & BMY Trades
| | 90 seen
As of September 5, 2025 ,our covered call stock portfolio stood at $8,552, what is another weekly increase of +0.56% (+$47). While Year-to-date, our portfolio is +8.41%. Awesome!
For the record, our portfolio is influenced by EUR/USD exchange rates. If the euro hadn’t been trading at 1.18 against the dollar, our portfolio would actually be down a few dollars. Anyhow, cheers to the EUR/USD exchange rate this week!
This week, we collected $107 from selling options, what is slightly above my goal to generate at least 1% weekly in options premium (1.25% this week).
Our portfolio remains concentrated in NVDA stock, and this week proved to be another volatile one for the tech giant. At the beginning of the week, I rolled down and forward our 165 put.
Meanwhile, our experiment with DOCU stock options turned out positive—those options expired worthless. To boost this week’s options premium, I returned to selling put options on BMY stock. The strategy worked well, and I collected enough cash premium to purchase one share and add it to our long-term portfolio.…
Azeula Fortress, Tbilisi Sea, and Ateni Sioni
| Travel guides | 36 seen
August ended with yet another packed and memorable weekend in Georgia. This time, our journey took us from the hills near Kojori to the refreshing waters of the Tbilisi Sea, and finally to the historical town of Gori, where we enjoyed a hearty Sunday brunch and paid a visit to the ancient Ateni Sioni Church.
I had heard so much about Azeula Fortress (also known as Kojori Fortress) over the years, yet for some reason, I had never actually made the trip. That changed at the end of August, when we finally decided to explore it.
Perched high above Kojori, just a short drive from Tbilisi, the fortress is a fascinating blend of medieval history and natural beauty. The hike up is moderately challenging but completely worth it, with stunning panoramic views of the surrounding mountains and valleys. Walking among the ancient ruins felt like uncovering a long-awaited piece of Georgian history I had always wanted to see for myself.
After exploring Azeula, we headed back home and later in the evening for a cool-down session at the Tbilisi Sea. This large artificial lake, officially called the Tbilisi Reservoir, is a favorite summer…
Week 21 / $98 Premiums, NVDA Volatility, and DOCU Position
| | 52 seen
As of August 29, 2025, our covered call stock portfolio stood at $8,504, what is another weekly increase of +1.81% (+$150). While Year-to-date, our portfolio is +8.87%. Awesome!
This week, we collected $98 from selling options, what is slightly above my goal to generate at least 1% weekly in options premium (1.15% this week).
Our portfolio remains concentrated in NVDA stock, and this week proved especially volatile due to NVDA’s earnings report on August 27. Fortunately, all of our options positions expired worthless, allowing us to move forward without setbacks.
In addition, I explored DocuSign this week and decided to take a small position. We initiated a bull put spread to test the waters, while also adding 0.5 shares to our long-term portfolio.
I'm currently holding one covered call on NVDA with a $113 strike price expiring on December 19, which is significantly deep in the money. If we allow the shares to be called away at expiry, this would lock in an unrealized profit of approximately $6,100.
…
Week 20 / Tbilisi Life & NVDA Stock Update: Covered Calls Portfolio +0.9% This Week
| | 122 seen
Greetings from Tbilisi, Georgia! Today, we attended the open afternoon at the British International School of Tbilisi. Our kiddo is already in Year 3—time really flies! For the next academic year, the head teacher will be joining us from Wales. So instead of the usual leprechauns, we’ll now be surrounded by dragons and fairies. And with just a few more weeks left, summer will officially come to an end.
Besides that, this week was quite turbulent for our stock portfolio. With the upcoming earnings report for NVDA scheduled next week, there were noticeable price movements. To stay safe, I decided to roll out and forward positions already in the middle of the week. Nevertheless, the week ended strong, and we locked in some nice weekly gains for the portfolio.
As of August 22, 2025, our covered call stock portfolio stood at $8,353, what is a decent increase of +0.9% if compared to previous week (+$74). While Year-to-date, we our portfolio is +6.94%. Awesome!
This week, we collected $112 from selling options, what is well above my goal to generate at least 1% weekly in options premium (1.34…
Week 19 / $155 from NVDA & UBER Trades, Margin Debt Payoff in Sight
| | 126 seen
Greetings from Tsikhisdziri, Georgia! This week, we decided to extend our holiday with a five-day stay at a friend’s aparthotel on the Black Sea, near Batumi, after returning from Thessaloniki. Life is beautiful.
Besides that, it was another great week for my covered call stock portfolio, with exotic Swedish SEB Bank, Finnish Neste, and BMY put options expiring worthless — bringing me back to trading NVDA options.
As of August 15, 2025, our covered call stock portfolio stood at $8,278, what is a decent increase of +2.07% if compared to previous week (+$168). While Year-to-date, we are already at +5.99%. Awesome!
This week, we collected $155 from selling options, what is well above my goal to generate at least 1% weekly in options premium (1.87% this week).
Our portfolio remains concentrated around NVDA stock.
I'm currently holding one covered call on NVDA with a $113 strike price expiring on December 19, which is significantly deep in the money. If we allow the shares to be called away at expiry, this would lock…
Week 18 / 40th Birthday in Thessaloniki: BMY Credit Spreads, and a Heineken Twist
| | 98 seen
Greetings from Thessaloniki, Greece! This week, I’m celebrating my 40th birthday surrounded by fine cuisine, a light sea breeze, and surprisingly good house wine. If there’s a hidden gem in Europe, Thessaloniki is certainly one of them.
Travel brings inspiration—and new ideas. This week was one of those moments. I took a step back from my usual NVDA trades and instead opened new positions in Heineken and BMY. The result? Additional EUR income and an increased USD allocation in our dividend stock portfolio.
As of August 8, 2025, our covered call stock portfolio stood at $8,100, what is a decent increase of +3.85% if compared to previous week (+$300). While Year-to-date, we are already on positive +4.78%. Awesome!
This week, we collected $118 from selling options, what is above my goal to generate at least 1% weekly in options premium (1.45% this week).
Our portfolio remains concentrated around NVDA stock.
I'm currently holding one covered call on NVDA with a $113 strike price expiring on December 19…
Week 17 / Boring but Profitable: Weekly NVDA Credit Spread Expires Worthless, Again
| | 114 seen
As of August 1, 2025, our covered call stock portfolio stood at $7,810, what is a slight decrease of -0.4% if compared to previous week (-$31). While Year-to-date, we are still in positive territory with +1.69%. Awesome!
To be fully transparent, our portfolio's value is also influenced by EUR/USD exchange rate fluctuations. With the U.S. dollar strengthening to 1.15 against the euro, we experienced a decline in value when measured in dollar terms.
Aside from that, it was another boring week - our NVDA credit spread expired worthless, and we opened a new weekly credit spread. Boring is good; excitement often means risk.
This week, we collected $46 from selling options, what is below my goal to generate at least 1% weekly in options premium (0.58% this week).
Our portfolio remains concentrated around NVDA stock.
I'm currently holding one covered call on NVDA with a $113 strike price expiring on December 19, which is significantly deep in the money. If we allow the shares to be called away at…
Week 16 / Rolling Covered Calls: Why I Rolled NVDA to December for Higher Premium
| | 31 seen
As of July 25, 2025, our covered call stock portfolio stood at $7,841, another +2.69% week-over-week increase (+$205). Year-to-date, we are finally in positive territory with +0.37%. Awesome!
This week, I rolled forward and up our August 15 expiry covered call on NVIDIA, extending it to the December 19 expiry.
With this rollout, I increased the strike price by $3 and collected an additional premium of $0.60 per share. Given our long-term strategy to hold NVDA stock, I'm quite pleased with this adjustment - it aligns well with our overall goal of maximizing premium while maintaining upward exposure.
This week, we collected $101 from selling options, what is slightly above my goal to generate at least 1% weekly in options premium (1.28 % this week).
Our portfolio remains concentrated around NVDA stock.
I'm currently holding one covered call on NVDA with a $113 strike price expiring on December 19, which is significantly deep in the money. If we allow the shares to be called away at expiry, this would lock in an…
Week 15 / Weekly Options Income Hits $66 as NVDA Credit Spreads Return
| | 16 seen
As of July 18, 2025, our covered call stock portfolio stood at $7,636, another +0.71% week-over-week increase (+$53). Year-to-date, we are still down -1.59%.
This week, we returned to selling credit spreads on NVDA, while also experimenting with Neste stock from the Helsinki Stock Exchange to boost our EUR-denominated income. From time to time, I enjoy trading in frontier markets.
This week, we collected $66 from selling options, what is slightly below my goal to generate at least 1% weekly in options premium (0.86 % this week).
Our portfolio remains concentrated around NVDA stock.
I'm currently holding one covered call on NVDA with a $110 strike price expiring on August 15, which is significantly deep in the money. If we allow the shares to be called away at expiry, this would lock in an unrealized profit of approximately $6,000.
Current positions
- NVDA Jul 25 165/155 Put Credit Spread
- NVDA Aug 15, 2025 $110 Covered Call
While…
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