Week 43: Boring but Profitable — BMY Credit Spread Brings in $65 Options Premium
As of January 30, 2026, our covered-call stock portfolio has once again increased by +2.43% and closed at $11,050. For the first time, we’ve cracked the $11K milestone. Awesome.
Interestingly, we kept activity minimal this week the only new trades were BMY credit spreads opened today. Despite that, the NVDA-centered portfolio is clearly outperforming the crypto portfolio, which suffered another sharp -30% drop this week. Definitely worth noting.
This week, I also published an article explaining our NVDA strategy - you can read it here: How the NVDA Strategy Became the Backbone of Our Stock Portfolio.
Our covered call portfolio is up 3.71% YTD, slightly outperforming the S&P 500 (+1.1%). Since NVDA is our core underlying - used for selling credit spreads and covered calls, while gradually accumulating shares through option premiums it is also appropriate to compare performance against NVDA itself. Notably, NVDA is up +1.97% YTD.
Options trades:
As mentioned earlier, I opened a new bull put credit spread on BMY. With the premium received, I also bought an additional BMY share, increasing our total position to 7 shares in dividend stock portfolio.
BMY is a strong dividend-paying stock. Once we reach 100 shares (93 to go), we can switch to selling covered calls.
When selling BMY credit spreads, I typically target around 45 DTE and aim for enough premium to buy one share of BMY. In this case, I used two put contracts, risking roughly $10,000 if assigned.
Simple, repetitive, and quite boring and that’s exactly the point. Boring is good.
Current positions
NVDA Feb 06, 2026 177.5/155 Bull Put Credit Spread
2X BMY MAR 20, 2026 50/46 Bull Put Credit spread
SHELL FEB 20, 2026 29 Cash-Secured Put
NVDA JUNE 18, 2026 $116 Covered Call
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 $65 in options premium this week. If we can consistently average that amount, it would take approximately 61 weeks to fully eliminate our margin debt of $3,968. 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 $177.5/155 put spread . Should any of our positions come under pressure, the plan is to roll them forward—ideally for a credit.
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