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
1 equity position · 9 option positions · US . Benchmark: S&P 500 BuyWrite Index (BXM).
Composition
10 positions grouped by segment. Values in each group's native currency; portfolio weight is USD-normalised. Snapshot from Apr 16, 2026.
Equity Options (USD)
| Underlying | Type | Strike | Expiry | Contracts | MV | Unrealized | Weight |
|---|---|---|---|---|---|---|---|
| NBIS | Put | 70.00 | 2026-07-17 | -1 | USD -130 | +86.0% | 0.04% |
| ASX | Put | 22.50 | 2026-09-18 | -5 | USD -750 | +70.0% | 0.25% |
| GLXY | Put | 15.00 | 2026-09-18 | -5 | USD -650 | +49.2% | 0.22% |
| RBRK | Put | 55.00 | 2026-09-18 | -2 | USD -2,590 | -16.2% | 0.86% |
| HOOD | Put | 60.00 | 2026-10-16 | -2 | USD -924 | +43.5% | 0.31% |
| NET | Put | 280.00 | 2026-12-18 | -1 | USD -9,330 | -0.0% | 3.09% |
| NU | Put | 20.00 | 2026-12-18 | -10 | USD -5,870 | -65.4% | 1.94% |
| NVDA | Call | 100.00 | 2026-12-18 | 1 | USD 10,266 | +15.6% | 3.40% |
| WMT | Call | 100.00 | 2026-12-18 | 1 | USD 2,899 | -22.4% | 0.96% |
Cash (USD)
| Holding | Balance | Weight |
|---|---|---|
| US Dollar | USD 268,582 | 88.94% |
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.