Reference Portfolio · Updated
Derivatives
Options income reference portfolio — covered calls and cash-secured puts on names we already understand.
Thesis
The Derivatives Reference Portfolio expresses two options strategies: covered calls on hypergrowth-sleeve stock positions when implied volatility and distance-to-resistance are favourable, and cash-secured puts on names we'd be content to own at lower prices. Both are income-generating, both are conservative in the sense that the worst-case ownership outcome is one we've already decided we want.
The portfolio is not a trading book. Strikes are set at distances that reflect underlying fundamentals — call-strikes above where we think the name is fully valued, put-strikes below where we think the name is structurally undervalued. Rolls happen when the underlying approaches the strike, not on a fixed schedule.
Premium capture is reported as a separate line from stock-position P/L. The benchmark is the BXM (S&P 500 BuyWrite Index) — the same reference every systematic options income strategy gets measured against.
Structure
- Equity Options9
- Cash1
0 equity positions · 9 option positions . Benchmark: S&P 500 BuyWrite Index (BXM).
Composition
10 positions grouped by segment. All values in USD (Barchart-converted). Snapshot from May 1, 2026.
Equity Options (USD)
| Symbol | Name | Units | Mkt Value | Cost Basis | Unrealized | % Unr | Realized | % Rlz | % Port |
|---|---|---|---|---|---|---|---|---|---|
| RBRK|20260918|55.00P | RBRK Monthly 2026-09-18 55 Put | -2.00 | -2,040.00 | -2,229.00 | 189.00 | +8.48% | 0.00 | +0.00% | 0.65% |
| NET|20261218|280.00P | NET Monthly 2026-12-18 280 Put | -1.00 | 0.00 | -9,329.00 | -1.00 | -0.01% | 0.00 | +0.00% | 0.00% |
| NU|20261218|20.00P | NU Monthly 2026-12-18 20 Put | -10.00 | -5,820.00 | -3,549.00 | -2,271.00 | -63.99% | 0.00 | +0.00% | 1.85% |
| NVDA|20261218|100.00C | NVDA Monthly 2026-12-18 100 Call | 1.00 | 10,548.00 | 8,881.00 | 1,667.00 | +18.77% | 0.00 | +0.00% | 3.35% |
| WMT|20261218|100.00C | WMT Monthly 2026-12-18 100 Call | 1.00 | 3,348.00 | 3,736.00 | -388.00 | -10.39% | 0.00 | +0.00% | 1.06% |
| COHR|20270115|250.00P | COHR Monthly 2027-01-15 250 Put | -1.00 | -4,771.00 | -6,805.00 | 2,034.00 | +29.89% | 0.00 | +0.00% | 1.51% |
| NOK|20270115|10.00P | NOK Monthly 2027-01-15 10 Put | -10.00 | -1,160.00 | -1,199.00 | 39.00 | +3.25% | 0.00 | +0.00% | 0.37% |
| QCOM|20270115|160.00P | QCOM Monthly 2027-01-15 160 Put | -1.00 | -1,470.00 | -2,314.00 | 844.00 | +36.47% | 0.00 | +0.00% | 0.47% |
| RKLB|20270115|80.00P | RKLB Monthly 2027-01-15 80 Put | -2.00 | -4,040.00 | -5,569.00 | 1,529.00 | +27.46% | 0.00 | +0.00% | 1.28% |
| TOTAL | — | — | -5,405.00 | -18,377.00 | 3,642.00 | — | — | — | 10.54% |
Cash (USD)
| Symbol | Name | Units | Mkt Value | Cost Basis | Unrealized | % Unr | Realized | % Rlz | % Port |
|---|---|---|---|---|---|---|---|---|---|
| US Dollar | US Dollar | 282,110 | 282,110.00 | 0.00 | 0.00 | +0.00% | 0.00 | +0.00% | 89.47% |
| TOTAL | — | — | 282,110.00 | 0.00 | 0.00 | — | — | — | 89.47% |
Summary
| Group | Mkt Value | Cost Basis | Unrealized | % Unr | Realized | % Rlz | % Port |
|---|---|---|---|---|---|---|---|
| Equity Options (USD) | -5,405.00 | -18,377.00 | 3,642.00 | — | — | — | 10.54% |
| Cash (USD) | 282,110.00 | 0.00 | 0.00 | — | — | — | 89.47% |
| TOTAL (USD) | 276,705.00 | -18,377.00 | 3,642.00 | — | 13,733.00 | — | — |
Related
Beyond the snapshot
Closelook.money adds the live layer
The composition above is the end-of-day snapshot. Closelook.money adds what sits between snapshots: the historical move log with Thomas' reasoning per trade, per-holding performance attribution, per-portfolio real-time alerts when a position changes, and CSV export for analysis.
- Full historical moves log with per-trade reasoning
- Per-holding attribution — which position drives the return
- Real-time alerts on opens, closes, and ≥10% size changes
- CSV export of current composition
Methodology & disclaimer
Derivatives is a reference portfolio — it reflects how Thomas Look, author and publisher of Closelook, implements the analytical theses discussed on this site. Position data is updated daily from end-of-day broker exports (Barchart). Benchmark prices come from EODHD.
Reference portfolio, educational purpose only. Options carry defined but non-trivial risk; strategies shown illustrate our approach, not recommendations.
Reference portfolio, not investment advice. Past performance is not indicative of future results. Closelook Venture GmbH is a publishing company and does not manage client capital.