Lighter Into the Print, and a Year More Time on NVDA

The whole week's activity went through in one session and the weekend before it. Between Friday's close and Monday's close the AI Build-Out book swapped two lines for two others and cut five winners smaller, and the derivatives book closed two positions and rolled its NVDA exposure out a full year. From Tuesday to Friday nothing was logged in any of the five books.

Over the weekend, booked at Friday's closing prices, AI Build-Out sold its 803 shares of SHECY at 19.90 for a gain of 1,457 dollars — a line that had grown fractional through reinvested dividends — and its fifteen shares of MU at 971.66, twenty-two dollars below cost, as close to flat as an exit gets. Into the same book went 125 shares of Q at 142.30, Qnity Electronics, the DuPont electronics spin-off that took DD's seat in the Rubin 100 the same weekend, and 100 shares of SKHY at 166.33, the SK hynix ADR the derivatives book had sold a June 2027 put against the Friday before. One memory name for another, one materials name for another: 30,560 dollars out, 34,423 in, a swap at close to even size rather than an addition.

Both new lines ended the week below their fills — Q at 128.88, about nine percent lower, SKHY at 163.41, about two — so the first entry in each line's record is a red one.

Monday's five cuts were booked at Monday's closes and all came from the same side of the ledger. ATEYY went from 100 shares to 75 at 237.44, COHR from 65 to 50 at 351.22, IOT from 500 to 400 at 39.00, RBRK from 200 to 150 at 101.02, SNOW from 60 to 50 at 330.11 — cuts of seventeen to twenty-five percent, none of them exits, 23,451 dollars released and 7,273 of it realised gain. Every one of the five was a winner going in (RBRK up 87 percent unrealised on the prior snapshot, SNOW 80, IOT 46, ATEYY 30, COHR 10); this was sizing brought back in line, not losers cleaned out.

Tuesday was the session the semis gave back Monday's gains — COHR fell 12.8 percent on the day, ATEYY 8.5 — so the trims were sold into Monday's strength rather than Tuesday's reversal. Net of the weekend swap, the book carried about 19,600 dollars less equity exposure into the rest of the week than it had on Friday, and its realised gains for the week came to 8,708 dollars with MU the only line closed below cost.

In the derivatives book Monday did two closes and one open. The short ALAB January 2027 250 put was bought back at 29.89 against the 38.10 it was sold for, a gain of 820 dollars with the stock at 320, more than a quarter above the strike. The long NVDA December 2026 100 call was sold at 127.75 against an 88.81 cost, a gain of 3,893 dollars.

In its place went a December 2027 call spread on NVDA: long the 160 strike at 85.06, short the 320 at 19.37, one contract each, a net debit of 65.69. With NVDA at 225.01 on Monday's close the long leg was sixty-five points in the money and the short leg forty-two percent above spot; the spread is 160 points wide, sixteen thousand dollars a contract at its full value, and it breaks even at 225.69 — within a dollar of where the stock closed that day.

Read against last week's entry, it is the same move in a different instrument. The options book bought more time again — December 2026 to December 2027 — moved the strike up from 100 to 160, sold the 320 to pay for part of it, and still took 6,203 dollars of cash out of the restructuring. What it gave up is the open-ended upside above 320; what it kept is sixteen months of defined NVDA exposure through the August 26 print and the two that follow it. Realised gains across the two books that traded came to 13,421 dollars for the week.

Global Tech 50, Hypergrowth and Global ETFs logged no entries this week. After last Saturday's rotation and roll, a week of nothing across three books is itself the entry.

Nothing here is a recommendation, and none of it is advice — it is the log of what this diary's books actually did between Friday's close and this Friday's. The full ledger, newest first, is on the signals page.