As of March 13, 2026, our covered-call stock portfolio has decreased slightly by -0.63% and closed at $11,141.
This is already the second week in a row that our portfolio value has decreased. However, the decline is largely explained by currency movements. Since the portfolio’s base currency is EUR, the drop should primarily be attributed to the USD/EUR exchange rate. The greenback strengthened against the euro and traded around 1.14.
Rising geopolitical tensions, including the war in Iran and increasing oil prices, are likely supporting the dollar. If history is any guide, I wouldn’t be surprised to see the rate move toward 1.07 or even approach parity at some point.
Despite the reported decline, the underlying portfolio value is actually growing — a somewhat paradoxical effect caused by currency fluctuations.
Aside from the geopolitical backdrop, our portfolio activity was fairly uneventful this week - and that is a good thing. In investing, boring is often healthy, while excitement tends to come with risk.
We made no major adjustments during the week. On Friday evening, however, we added an additional NVDA credit spread. This continues our approach of gradually reducing margin debt while steadily increasing our total NVDA share exposure.
Our covered call portfolio is up 9.09% YTD, outperforming the S&P 500 (-3.13%) and NVDA (-4.43%) YTD.
Current options positions:
- NVDA MAR 20, 2026 167.5/155 Bull Put Credit Spread
- 2X BMY MAR 20, 2026 50/46 Bull Put Credit spread
- PFE MAY 15, 2026 25 Cash-Secured Put
- NVDA NOV 20, 2026 $120 Covered Call
As mentioned from this week’s options income, I purchased 0.1 shares of NVDA, incrementally increasing our core equity position.
This keeps the strategy consistent: use options premium not only as income, but also to gradually compound the underlying stock exposure.
One of the primary goals of our covered call stock portfolio is to gradually reduce debt while maintaining a long position of 100 shares in NVDA. Notably, we earned $77 in options premium this week. If we can consistently average that amount, it would take approximately 48 weeks to fully eliminate our margin debt of -$3,628. I’d be quite happy to eliminate this margin debt in 2026 without selling any stock - let’s see how it goes.
Looking ahead to next week, I will be closely monitoring the NVDA $167.5/155 put spread. Should any of our positions come under pressure, the plan is to roll them forward—ideally for a credit.
Besides that, I’m starting to organize coaching sessions. Feel free to book one if you have any questions about covered calls, cash-secured puts, or the stock market in general.
