Recap: Trade log for the week of May 4

The rally accelerated into the first full week of May. The S&P moved from 7,230 to 7,399, the Nasdaq surged from 25,114 to 26,247, and VIX held steady near 17.2. Oil was the outlier, dropping from $102 to $95 as demand concerns crept back in. Tech and semis drove the gains, keeping the tape risk-on but increasingly stretched.

We opened four positions across the week. Monday we filled the NVDA 5/8 $192.50 CSP and the LRCX 5/15 $235 CSP. LRCX moved in our favor quickly, so we bought it back Tuesday for a net $225 gain after one day, then re-entered Wednesday with the LRCX 6/5 $260 CSP at a higher strike and longer duration. Wednesday we also wrote the SMCI 5/15 $50 CC against our existing shares to collect premium on a position that is still underwater. The NVDA CSP expired worthless Friday.

Both carryover covered calls from the prior week expired via assignment Friday. NVDA got called away at $190 on a $192.50 cost basis, a $2.50 per share stock loss that the CC premium more than covers. QCOM got called away at $170 on a $160 cost basis, locking in a $10 per share stock gain on top of all the CC premiums collected since January. The second QCOM lot ran for 105 days from assignment to call-away, completing the full wheel cycle on both accounts. That closes both positions out entirely.

The portfolio finished the week at +9.48% YTD with $7,693.98 net P/L, max drawdown at -9.92%, and SPY at +8.17% over the same window. Three positions carry into next week: the DAL 5/15 CSP, the SMCI 5/15 CC, and the longer-dated LRCX 6/5 CSP. We will keep selling boring.

Portfolio snapshot as of May 10, 2026 — click to enlarge

This Week’s Totals

1.24%

Return on Capital

64.6%

Annualized Yield

$1,139.22

Premiums Collected

$92,000

Capital Used

This Week’s Opening Trades

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Type	OpnOpen	Exp	ClsClose	TicTicker	StkStrike	Qty	Fill	ExtExit	Fee	Cap	P/L$	ROC
CSP	5/4	5/8	5/8	NVDA	192.5	1	0.96	0.00	1.05	19.25k	94.95	0.49%
CSP	5/4	5/15	5/5	LRCX	235	1	3.82	1.55	2.12	23.5k	224.88	0.96%
CC	5/6	5/15		SMCI	50	1	0.57	0.00	0.55	5k	56.45	1.13%
CSP	5/6	6/5		LRCX	260	1	7.64	0.00	1.06	26k	762.94	2.93%

📥 Download Full YTD Trade Log (CSV)

This Week’s Assignments

100 shares NVDA (A1) called away at $190 on 5/8 (cost basis $192.50)
100 shares QCOM (A2) called away at $170 on 5/8 (cost basis $160.00)

Open Carryover Positions

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

1 x DAL 5/15 CSP @ $65

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 5/8 CC @ $190 A1 (called away, +$1,434.33)
1 x QCOM 5/8 CC @ $170 A2 (called away, +$1,311.33)

Current Holdings

100 shares DG @ $135.00 (A1)
100 shares SMCI @ $50.00 (A1) — active 5/15 $50 CC

All trades have been immediately posted in the mLabs Trading Discord community upon execution.

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