Managing NVDA Credit Spreads While Building a House

Portfolio Value: $11,880
Weekly Change: +3.38%
YTD Return: +13.69%
Options Premium Collected: $55

Greetings from Riga International Airport.

I'm writing this update while waiting for a flight to Berlin after spending a productive week in Latvia working on our family frame house. Most of my time was spent outside the stock market. I nearly finished installing the kitchen cabinets, while my better half planted more than 40 peonies in the garden. Our daughter enjoyed every minute of it.

Back to the portfolio.

As of April 10, 2026, our options income portfolio increased by +3.38%, closing at $11,880.

On a year-to-date basis, the portfolio is up 13.69%, outperforming both the S&P 500 (-0.28%) and NVDA (+0.39%) over the same period.

Market Environment and NVDA Recovery

This week was dominated by geopolitical headlines surrounding the Strait of Hormuz and continued uncertainty in the Middle East. Markets reacted to changing expectations around trade routes, energy prices, and global growth.

On the positive side for the portfolio, the U.S. dollar weakened against the euro, providing a modest currency tailwind.

NVIDIA (NVDA) also recovered above the $180 level, helping support overall portfolio performance.

As a seller of premium, I generally prefer stability over extreme volatility. Strong recoveries in quality companies like NVDA can create favorable conditions for income-generating strategies such as bull put spreads.

Current Options Positions

• NVDA Apr 17, 2026 177.5/167.5 Bull Put Credit Spread
• 2x BMY Jun 18, 2026 50/46 Bull Put Credit Spread
• PFE May 15, 2026 25 Cash-Secured Put
• NVDA Nov 20, 2026 $120 Covered Call

The portfolio continues to rely on a combination of credit spreads, cash-secured puts, and covered calls to generate recurring premium income.

If you're new to credit spreads, start here: Bull Put Spread Strategy: A Complete Beginner's Guide.

Why I Continue Using Credit Spreads

One of the reasons I increasingly favor bull put spreads is capital efficiency.

Compared to cash-secured puts, credit spreads allow me to define risk while using significantly less capital. This becomes especially important when managing a relatively small portfolio and trying to diversify across multiple positions.

I compare both approaches in more detail here: Bull Put Spread vs Cash-Secured Put: Which Is Better for Small Accounts?.

Reinvesting Premium Into Shares

Using premium collected from NVDA credit spreads, I added:

• 0.1 shares of NVDA
• 0.5 shares of PFE

This remains one of the core principles behind the portfolio.

Rather than withdrawing all premium income, part of the proceeds are reinvested into productive assets. Over time, these small additions can gradually increase both portfolio value and future dividend income.

Weekly Premium Income and Margin Debt

This week generated approximately $55 in options premium income.

A key objective remains reducing margin debt while maintaining a core position of at least 100 NVDA shares.

Current margin debt stands at approximately -$3,468.

At a sustained pace of $55 per week, it would theoretically take around 63 weeks to eliminate the margin balance.

While my original goal was to eliminate margin debt during 2026, that target is becoming increasingly ambitious. The alternative is either increasing portfolio risk or extending the timeline.

At this stage, I prefer extending the timeline.

Options trading has taught me that survival and consistency matter far more than forcing unrealistic deadlines.

For more on realistic income expectations, see: Can You Really Earn $100 Per Week Selling Options?.

Looking Ahead

The primary position to monitor next week is:

• NVDA Apr 17, 2026 177.5/167.5 Bull Put Credit Spread

If the position comes under pressure, the plan remains unchanged:

• Roll forward when appropriate
• Prefer collecting additional credit
• Prioritize long-term portfolio stability

I have written more about my adjustment process here: How to Manage a Credit Spread When the Trade Moves Against You.

Key Takeaway

This week reinforced an important investing lesson: progress doesn't always come from making more trades.

Sometimes the best results come from staying patient, managing existing positions, reinvesting premium, and allowing time to work in your favor.

While most of my attention was focused on building a house rather than watching markets, the portfolio continued moving forward through disciplined options selling and gradual share accumulation.

Related Reading

• Bull Put Spread Strategy: A Complete Beginner's Guide
• Bull Put Spread vs Cash-Secured Put: Which Is Better for Small Accounts?
• How to Manage a Credit Spread When the Trade Moves Against You
• Can You Really Earn $100 Per Week Selling Options?

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.