After two weeks on the sideline waiting for regime filters to clear, SPY finally closed above our $687 level last Friday. We went on short term offense and opened CSPs on GOOG ($305) and AXP ($290) on Monday to start putting capital back to work.

NVDA reported earnings Wednesday after the close. The numbers were strong (revenue up 65% YoY, Blackwell demand solid), but the stock sold off from around $195 pre-earnings to $177 by Friday’s close. Hot PPI data added pressure to the broader market as well, making for a rough back half of the week.

We closed the AXP CSP on Wednesday for a $155 profit. The NVDA $200 CC carried over from last week was closed on Thursday at $0.25, capturing about 90% of the original $2.02 premium as the stock dropped post-earnings. With IV still elevated, we opened a new $192.5 CC on Friday. GOOG remains open, and DG is still working as a carryover from two weeks ago.

By Friday, SPY had given back everything and then some. Yet another fakeout. We’re back on the sidelines for new CSPs heading into next week until the filters clear again. On top of that, the US/Israel/Iran situation is escalating over the weekend, which could add more volatility at Monday’s open.

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This Week’s Totals

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This Week’s Opening Trades

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This Week’s Assignments

• None

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Open Carryover Positions

Open positions from previous weeks that are counted towards deployed capital. These positions did not generate premiums this week.

• 1 x DG 3/20 CSP @ $135

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Closed Carryover Positions

Closed positions from previous weeks that are counted towards deployed capital. These positions did not generate premiums this week and may have reduced premiums earned from previous weeks.

• 1 x NVDA 2/27 CC @ $200

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