The portfolio gained 0.95% during the week, bringing total year-to-date returns to 22.67%.
On a year-to-date basis, the portfolio is now up 22.67%, outperforming both the S&P 500 (+10.39%) and NVDA (+14.77%).
A major driver of this week's activity was NVIDIA (NVDA), which experienced significant price movement following earnings. At one point, shares traded below $210, putting pressure on existing bull put credit spreads.
Rather than waiting until expiration, I chose to actively manage the position by rolling the spread both forward in time and higher in strike selection. This adjustment provided additional time for the trade to work while maintaining a favorable risk profile.
By week's end, NVDA recovered above $216, leaving the new position in a much stronger position heading into the next expiration cycle.
Current Options Positions
- NVDA Jun 5, 2026 $200/$180 Bull Put Spread
- NFLX Jun 5, 2026 $84/$80 Bull Put Spread
- 2x BMY Jun 18, 2026 $50/$46 Bull Put Spread
- DBK Jun 19, 2026 $24/$20 Bull Put Spread
- ARCC Sep 18, 2026 $16 Put
- NVDA Jun 17, 2027 $125 Covered Call
Trade Management Notes
This week highlighted an important aspect of options selling: position management.
Bull put spreads often require adjustments when underlying stocks experience sudden volatility. Rolling challenged positions before they become problematic can help improve probabilities and reduce portfolio stress.
The NVDA adjustment serves as another example of why active management remains a critical component of a premium-selling strategy.
Premium Income Generated
The portfolio generated $77.45 in options premium during the week.
Rather than withdrawing the income, the premium was reinvested into existing portfolio holdings:
- 0.1 shares of NVDA
- 0.1 shares of NFLX
The long-term objective remains unchanged: use options premium to gradually build a larger portfolio of productive assets.
Margin Reduction Progress
Reducing margin debt continues to be a primary focus.
Current margin balance is approximately $3,080. While increasing position size could potentially generate more premium, preserving capital and reducing leverage remains more important than maximizing short-term income.
Positions to Watch
The primary positions requiring attention next week are:
- NVDA $200/$180 Bull Put Spread
- NFLX $84/$80 Bull Put Spread
Should either position come under pressure, the preferred management approach remains rolling for additional time and, when possible, collecting additional credit.
Key Takeaway
This week's results demonstrate that successful options selling is often less about predicting market direction and more about managing positions when markets become volatile. Consistent premium collection, disciplined adjustments, and gradual portfolio growth remain the foundation of the strategy.
This trade journal documents personal trading activity for educational purposes only and should not be considered investment advice.