Greetings from our summer residence in Latvia! Wow, time flies - the last week has passed in a flash while I’ve been busy building a pergola, milling the ground, digging, planting, and generally trying to get as much done as possible.
Meanwhile, the school year has already started in Tbilisi, so we’ll be arriving a few days late. We probably won’t return to our cottage until the end of March, so before leaving I installed a solar-powered surveillance camera.
Now, hopefully, we’ll be able to watch from afar as the garden changes colors, the seasons come and go, and the deer feast on our cherry trees. Hopefully, that’s the most exciting thing the camera will capture!
Now back to the portfolio - the past week has been no less exciting.
As of August 21, 2026, our stock portfolio closed at $13,472, which is a small decrease by -0.99% if compared to previous week.
At the beginning of the week, I rolled our NVDA credit spread forward and down, managing to lower the short strike from $212.50 to $200 with just one additional week to expiry. With NVDA earnings coming next week, I’m seriously considering rolling once more before the announcement, as earnings can always bring an unpleasant surprise.
Another interesting — and increasingly challenging — trade has been NFLX. The stock suddenly broke above $80, which is great for our underlying bullish position. The problem is that just a few weeks ago, when NFLX was struggling, I sold a bear call spread above our put position. Now Netflix has found a completely different way to challenge me. I rolled the call spread higher and further out, this time to the October expiry.
I also rolled our Lufthansa put forward and down. The German airline has put a small dent in the portfolio recently, but for now the position remains manageable.
The portfolio is now up 28.55% year to date, comfortably ahead of both the S&P 500 (+11.86%) and NVDA (+14.14%).
Current Options Positions
- NVDA AUG 28, 2026 200/185 Bull Put Credit Spread
- BAC SEP 18, 2026 60/55 Bull Put Credit Spread
- ARCC Sep 18, 2026 16 Cash-Secured Put
- HEL STERV SEP 18, 2026 8.5 Cash-Secured Put (EUR)
- NFLX OCT 16, 2026 82.5/95 Bear Call Spread (Rolled forward and up)
- BMY OCT 16, 2026 57.5/52.5 Bull Put Credit Spread
- LHA FRA DEC 18, 2026 7 Cash-Secured Put (EUR) (Rolled forward and down)
- NVDA Jun 17, 2027 $125 Covered Call
- NFLX Dec 17, 2027 64 Cash-Secured Put
Total options premium collected this week reached $124.82. That slightly beats last week’s income, but it is still quite modest.
Part of the premium income was reinvested directly into the portfolio through the purchase of 0.1 share of NVDA and 0.1 share of NFLX
The current margin balance has decreased slightly to −$2,479. At the current weekly premium of around $124, it would take roughly 20 weeks to eliminate the margin debt - and that assumes none of the premium is reinvested into shares.
Over the next few weeks, I doubt the weekly options premium will even reach $40, which means the actual repayment period is likely to be longer.
Looking ahead to next week, the main focus will remain the NVDA $200/$185 bull put spread
Should and of the positions comes under renewed pressure, the plan is to roll it forward - ideally for a net credit - while keeping the risk controlled. Assignment remains a possible outcome, and if it happens, the next chapter of the strategy may involve covered-call writing on NVDA.
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