Hypergrowth — Nebius Bought Back $13 Cheaper and Four Calls Sold Over the Book
One book traded this week and it traded on Monday; a second closed one line on Thursday. Hypergrowth bought back the 50 Nebius shares it had sold on Friday, 13 dollars cheaper, and wrote four covered calls over names it already holds, collecting about 9,500 dollars of premium in an afternoon. The derivatives book bought back its short Cloudflare put for a realised gain of 1,680. Global Tech 50, AI Build-Out and Global ETFs logged nothing but dividend reinvestments. After the Saturday of one book changing what it means by memory, this was the Saturday of the same book being paid to wait.
The Nebius round trip first, because it is the cleanest entry in the ledger. On Friday the book sold 50 of its 200 shares at 225.56 and booked 6,376 dollars of gain on them. On Monday, with the stock 6 percent lower, it bought the same 50 back at 212.19, 10,610 dollars for a line it had sold for 11,277 three days earlier. The position is back at 200 shares, its cost on the returned 50 is 13.37 a share lower, and the two short January-2028 250 calls sold last Friday at 91.31 still sit over it. Nebius then fell to 207.37 on Tuesday, the low of the week, and closed Friday at 223.54, 5 percent above the Monday fill and 0.5 percent under where the week began. A trim sold into strength and bought back into weakness is what a trim is for; the book got its shares back and kept 668 dollars for the trouble.
Then the calls, as the log carries them. Against the Corning position the book sold one January-2028 165 call at 38.25, 3,824 dollars of premium; Corning fell 13.7 percent on Monday and closed the week at 150.13, so the strike sits 10 percent above the market. Against Nubank it sold ten December-2027 17 calls at 2.22, 2,219 dollars; the strike is 25 percent above Friday's 13.65 after a 6.6 percent week. Against Rocket Lab it sold two January-2028 80 calls at 17.50 each, 3,498 dollars; the strike is 24 percent above Friday's 64.57, a close that came after a 4.8 percent fall on the day. And it bought back one of its six short January-2027 40 calls on ASE at 4.10, a realised gain of 158.83 on a contract sold at 5.69, leaving five calls over the 500 shares; ASE rose 12 percent from Monday to Friday and closed at 41.63, 1.63 dollars through the strike, so the five that remain are in the money. One note on the option prices: the log books them at the previous session's quote, or by hand where Barchart carries none, so read them as the premium recorded, not as a tick.
Read the four lines together. The book is now short calls on Nebius, Corning, Nubank, Rocket Lab and ASE, with expiries thirteen to sixteen months out. Only the ASE calls are through their strike; the other four sit 10 to 25 percent under theirs. That is a book that expects to be paid for holding growth names through a range rather than through a run, and it says so with the strikes: the stock has to do a good year before the call costs the book anything but the upside beyond it. The premium did the cash work. Hypergrowth ended last Friday 1,476 dollars overdrawn after its ten lines; the 9,541 collected on Monday, less the 411 paid for the ASE buy-back and the 10,610 for Nebius, left it 1,497 dollars in cash. The calls paid for the shares.
The Cloudflare put is the other entry. The derivatives book had sold one June-2027 280 put at the money two weeks ago, when Cloudflare traded at 280 and the book was willing to own it there. On Thursday, with the stock near 330, 9 percent above last Friday, it bought the put back at 38.40 against a sale at 55.20: 1,680 dollars realised, 30 percent of the premium kept in two weeks, and the obligation about 50 dollars out of the money. Cloudflare closed Friday at 323.60. A put sold at the money that goes 20 percent out of the money in two weeks is a put that has done its work early; the book took the money rather than wait nine months for the last 38 dollars.
Where last Friday's fills stood at this Friday's close, said plainly: SK hynix 187.50, 0.4 percent under the 188.30 fill after a 7.6 percent fall on Monday and a 2.5 percent rise on Friday; Lumentum 930.91, 0.5 percent under 935.70, after a 4.2 percent Friday; SpaceX 152.71, 3.1 percent above 148.18. The two closes went the other way from each other. Micron, sold in full at 976.00, closed the week at 1,015.80, up 4.1 percent on a Friday in which the memory complex led the market: the book sold the American memory maker a week early and its Korean replacement has not yet made the difference back. Qualcomm, sold at 183.74, closed at 177.72, 3.3 percent lower, after a 5.8 percent fall on Friday: that sale was right on the week.
The three books that did not trade reinvested dividends and nothing else. AI Build-Out added 0.03 Alphabet shares, 0.09 Qnity Electronics and 0.01 Western Digital that way; Global ETFs added 0.44 shares of its Nasdaq top-30 fund and 0.49 of its US top-20 fund, its ninth consecutive week without a transaction, and Saturday's Global letter has that book's mark; Global Tech 50 logged nothing at all. The week those books sat through: the Federal Reserve raised rates on Wednesday and the Bank of Japan on Friday, the 10-year finished back at 5 percent, and the chip equipment names that had lagged all week rose 4.6 to 7 percent on Friday. Rubin Build-Out 100 ended the week 0.4 percent lower, HALO 100 1.5 percent lower, Euro-AI 50 2.2 percent higher, Agentic Winners 40 flat. Prices quoted are Friday's closes; the executed fills sit in the log, line by line.
One book traded this week and it traded on Monday; a second closed one line on Thursday. Hypergrowth bought back the 50 Nebius shares it had sold on Friday, 13 dollars cheaper, and wrote four covered calls over names it already holds, collecting about 9,500 dollars of premium in an afternoon. The derivatives book bought back its short Cloudflare put for a realised gain of 1,680. Global Tech 50, AI Build-Out and Global ETFs logged nothing but dividend reinvestments. After the Saturday of one book changing what it means by memory, this was the Saturday of the same book being paid to wait.