Hypergrowth — Calls Bought Back After a 25% Slide

One book traded this week, and it traded on one day. On Friday Hypergrowth wrote seven lines: it bought back short calls on ASE, Nebius and Rocket Lab after a week in which all three stocks fell 15 to 26 percent, sold 100 of its 500 ASE shares, rolled the Rocket Lab calls further out, and sold new calls over its BlackBerry shares. The three buy-backs and the share sale booked 8,516.90 dollars of realised gain, and the seven lines together left the cash almost where it was. Global Tech 50, AI Build-Out, Global ETFs and the derivatives book logged nothing; the one row in the Global Tech 50 file is last week's Ibiden split.

First, what a covered call is, because six of the seven lines are about them. The book sells someone the right to buy shares it already owns at a fixed price, the strike, by a fixed date. It collects the money, the premium, at once, and gives up any gain above the strike. When the stock falls, the call loses value and can be bought back for less than it was sold for; the difference is the gain. That is what happened here.

The Nebius call first. On 12 September the book sold two January-2028 250 calls at 91.31 each. On Friday it bought one of them back at 42.84, 4,285 dollars with the fee, for a realised gain of 4,845.50. Nebius closed Friday at 165.47, down 25.2 percent on the week and 22.0 percent under the 212.19 the book paid when it bought shares back on 14 September. One call stays open over half of the 200 shares; its 250 strike is 51 percent above Friday's close.

Then Rocket Lab, which was rolled rather than closed. The two January-2028 80 calls, sold on 14 September at 17.50 each, were bought back at 10.05, 2,011 dollars, a gain of 1,487. In their place the book sold one June-2028 80 call at 13.67 and one December-2028 80 call at 17.74, 3,139 dollars together. Same strike, five and eleven months more time, and 1,128 dollars more cash than the buy-back cost. Rocket Lab fell 25.5 percent on the week to 50.84, so the 80 strike now sits 57 percent above the market.

ASE was both. The book bought back all five of its January-2027 40 calls at 4.79, 2,396 dollars, a gain of 453.17 on calls sold at about 5.70, and sold 100 of its 500 shares at 40.24 for 4,023 dollars and a gain of 1,731.23. ASE closed the week at 39.53, down 14.9 percent and 1.8 percent under the sale; a week ago the stock was 6.43 dollars above that 40 strike, on Friday it was 47 cents below it. The book now holds 400 shares with no call over them, the only covered position it freed this week.

The one new line is BlackBerry: six January-2028 10 calls sold at 2.45, 1,469 dollars, over all 600 shares. The stock closed Friday at 8.06, down 9.5 percent on the week, so the strike is 24 percent above the market, and the line is 29 percent under its 6,841 dollar cost. As always, option prices in the log are the tracker's recorded quotes, usually the previous session's, not live ticks; the stock fills are real.

Read together, the week's cash math. The buy-backs cost 8,692 dollars; the ASE sale and the new BlackBerry and Rocket Lab calls brought in 8,631. Cash went from 1,497 to 1,436 dollars. The book is now short calls on Datadog, Corning, Nebius, Cloudflare, Nubank, Rocket Lab and BlackBerry, expiries December 2026 to December 2028. Two of them are in the money: the Datadog January-2028 210 call by 37.11 dollars with the stock at 247.11, and the Cloudflare December-2026 250 call by 46.30 with the stock at 296.30, after 110.93 a week ago.

The cushion was real but not large. At Friday's closes the book's stock lines lost about 54,800 dollars on the week. The short calls, closed and open, gained about 19,900 against last week's marks, so roughly a third of the stock loss came back through the options. The biggest dollar hits were Nebius (200 shares, about 11,100 dollars), Lumentum (20 shares at 824.13, down 25.3 percent), Datadog (down 15.7 percent to 247.11) and Cloudflare (down 17.9 percent). The one stock that rose was Eli Lilly, up 6.6 percent to 1,256.69.

The other four books sat through the same week without a trade. SK Hynix's ADR fell another 19.3 percent to 136.49, in three books. In the derivatives book the short June-2027 155 put on SK Hynix, sold at 39.31, is now 18.51 dollars in the money; the short December-2026 20 put on Nubank is 5.44 in the money with Nubank at 14.56; and the short June-2027 160 put on Nebius has its strike only 3.3 percent below Friday's close of 165.47. Global ETFs logged nothing for a thirteenth week; its Korea fund EWY fell 15.1 percent, while its Swiss, India and Poland funds rose 1.7 to 4.1 percent. The tracker still shows Tokyo Electron's ADR at its pre-split 164.55 for a third week; this diary keeps using the Tokyo-based value until the quote is fixed.

Where the recent fills stood at Friday's close, said plainly. Western Digital, sold at 445.29 on 1 October, closed at 332.00, 25.4 percent under the sale. SanDisk, doubled at 1,732.07 the same day, closed at 1,299.30, 25.0 percent under that fill. Micron, sold at 976.00, closed at 878.84, 10.0 percent under the sale. Qualcomm, sold at 183.74, closed at 172.11. Lumentum, bought at 935.70, closed 11.9 percent under its fill.

The week those books sat through: the chip fund SOXX fell 11.8 percent, the software fund IGV 7.4 percent and the Nasdaq 100 fund QQQ 5.5 percent to 709.80, while the equal-weight S&P fund RSP rose 0.5 percent and small caps (IWM) fell 3.0 percent. Consumer staples (XLP) gained 5.0 percent, health care (XLV) 3.5 percent and utilities (XLU) 1.9 percent. The 10-year Treasury yield ended at 5.10 percent, down from 5.24, and the long-bond fund TLT rose 2.7 percent. Rubin Build-Out 100 fell 13.4 percent, Euro-AI 50 2.7 percent, Agentic Winners 40 0.5 percent and HALO 100 0.5 percent. Prices quoted are Friday's closes; every fill sits in the log, line by line.

The four wikifolios that run alongside these books keep their own public ledgers: every transaction in Closelooknet, AI Cycle 2030, ETF Generation and The Compound is visible on wikifolio itself, trade by trade. How the vehicles work, and who the issuer is, lives on the Trade the Look page. Nothing here is a recommendation and none of it is advice: it is the log of what this diary's books actually did between last Friday's close and this one's. The full ledger, newest first, is on the signals page.