Portfolio Value: $11,141
Weekly Change: -0.63%
YTD Return: +9.09%
Options Premium Collected: $77
As of March 13, 2026, our options income portfolio declined by -0.63%, closing the week at $11,141.
This marked the second consecutive week of declining portfolio value. However, the decline was driven largely by currency fluctuations rather than significant weakness in the underlying investments.
Because part of the portfolio reporting is sensitive to the euro, movements in the EUR/USD exchange rate can have a noticeable effect on the reported value. During the week, the U.S. dollar strengthened against the euro, with EUR/USD trading near 1.14.
Despite the weekly decline, the portfolio remains up 9.09% year to date, outperforming both the S&P 500, down 3.13%, and NVDA, down 4.43%, over the same period.
Geopolitical Tensions and Market Volatility
Markets remained focused on escalating tensions in the Middle East, including developments involving Iran and concerns about global energy supplies.
Rising oil prices and increased geopolitical uncertainty contributed to broader market volatility while also supporting a stronger U.S. dollar.
Although geopolitical headlines can dominate short-term market movements, my approach remains unchanged. Rather than attempting to predict political or military outcomes, I focus on position sizing, risk management, and maintaining a disciplined options-selling process.
Volatility can benefit options sellers because higher uncertainty often results in richer option premiums. The challenge is ensuring that the additional income does not come at the cost of excessive portfolio risk.
A Quiet Week Is Usually a Good Week
Outside of the geopolitical backdrop and currency movements, portfolio activity was relatively uneventful.
That is usually a positive sign.
One lesson I have learned over the years is that investing should often feel boring. Excitement tends to arrive together with elevated risk, while consistent long-term results are usually built through patience, repetition, and discipline.
No major defensive adjustments were required during the week.
On Friday, after reviewing market conditions, I opened an additional NVDA bull put spread to continue generating weekly options premium.
Current Options Positions
- NVDA Mar 20, 2026 167.5/155 Bull Put Credit Spread
- 2x BMY Mar 20, 2026 50/46 Bull Put Credit Spreads
- PFE May 15, 2026 $25 Cash-Secured Put
- NVDA Nov 20, 2026 $120 Covered Call
The portfolio continues to combine three core options income strategies:
- Bull put credit spreads for weekly premium generation
- Cash-secured puts for selective stock acquisition
- Covered calls on long-term holdings
Each strategy serves a different purpose. Credit spreads provide capital-efficient weekly income, cash-secured puts can be used to enter stocks at preferred prices, and covered calls generate income from shares already held in the portfolio.
Building the NVDA Position With Options Income
Using part of this week's options income, I purchased an additional 0.1 shares of NVDA.
This keeps the portfolio aligned with one of its central principles: use options premium not only as immediate cash flow, but also to gradually increase ownership of productive long-term assets.
A purchase of 0.1 shares may appear insignificant in isolation. However, repeated regularly over months and years, these small additions can compound into meaningful positions without requiring large and constant capital contributions.
This approach has become one of the foundations of the portfolio.
$77 in Weekly Options Premium
This week generated approximately $77 in options premium income.
One of the portfolio's main objectives remains reducing margin debt while preserving a long position of at least 100 NVDA shares.
The current margin balance stands at approximately -$3,628.
At a sustained rate of $77 per week, it would theoretically take around 48 weeks to eliminate the current margin balance.
That calculation is useful as a rough illustration, but it should not be interpreted as a forecast. Options income will vary from week to week, and some periods may require rolls, defensive adjustments, or additional capital.
Whether the margin balance can be eliminated during 2026 remains uncertain, but the direction remains encouraging.
The objective is straightforward:
- reduce leverage gradually;
- avoid unnecessary risk;
- preserve the portfolio's core holdings;
- continue generating recurring options premium.
Why I Prefer Credit Spreads for Weekly Income
As the portfolio has evolved, I have increasingly relied on bull put credit spreads for weekly premium generation.
Compared with cash-secured puts, credit spreads require substantially less buying power while allowing the maximum risk to be defined when the position is opened.
That capital efficiency is particularly valuable when managing a smaller portfolio.
A cash-secured put may require thousands of dollars in available capital, while a defined-risk spread on the same stock may require only a fraction of that amount.
The trade-off is that credit spreads can be more difficult to manage when the underlying stock falls sharply. They also offer less flexibility than owning shares after assignment, because the long protective option limits both the risk and the structure of potential adjustments.
For weekly income generation, however, I currently find the balance between defined risk, capital efficiency, and premium potential attractive.
Looking Ahead
The main position to monitor next week is:
- NVDA Mar 20, 2026 167.5/155 Bull Put Credit Spread
If the trade comes under pressure, the plan remains unchanged:
- roll forward when appropriate;
- prefer collecting additional credit;
- prioritize portfolio stability over short-term perfection.
Not every losing or challenged position can be repaired, and rolling should not be treated as an automatic solution. The purpose of an adjustment is to improve the position's risk and reward profile, not merely postpone recognizing a loss.
Key Takeaway
This week demonstrated that not every successful week needs to be exciting.
Despite geopolitical uncertainty, currency fluctuations, and increased market volatility, the portfolio continued moving forward through disciplined premium selling and gradual share accumulation.
The portfolio declined slightly in reported value, but it generated $77 in options income, added another fractional NVDA share, and maintained a strong year-to-date return.
For income-focused investors, consistency is often more valuable than attempting to predict every headline or short-term market movement.
Disclaimer
This trade journal reflects personal portfolio activity and is provided for educational and informational purposes only. It should not be considered investment advice, financial advice, tax advice, or a recommendation to buy or sell any security, option, derivative, or financial instrument. Options trading involves risk and may not be suitable for all investors. Past performance does not guarantee future results.