Portfolio 1 - Growth | Weekly Update
Week Ending February 21, 2026
Market Context - Week of Feb 17-21
Markets consolidated this week after the prior week’s AI-driven selloff. The S&P 500 traded in a tight range around 6,900, recovering modestly from last week’s lows. Volatility remained elevated but off the mid-February spike, with VIX settling back toward the high teens. Tech stocks showed resilience as AI anxiety cooled, while precious metals (particularly gold) pulled back from recent highs.
Treasury yields stabilized after last week’s CPI-driven moves. The softer-than-expected inflation data continued to support rate cut expectations later in 2026, keeping bonds relatively steady. Market participants shifted focus to upcoming corporate earnings and geopolitical developments.
Overall, a quiet consolidation week following last week’s drama—exactly the type of environment where theta decay works in favor of short premium strategies.
Portfolio Snapshot
Portfolio Size: $1,046,234
Cash (Uninvested): $117,000 (11%)
BIL (US Treasuries): 4,000 shares (~$366,000, 35%)
Total Liquid: $483,000 (46%)
Buying Power Used: 17.2%
⚠️ We use Portfolio Margin (requires $180K minimum) — Regular Margin (Reg T) accounts need 40% MORE buying power for identical positions.
What this means:
Delta +695: Net long 0.07% of portfolio value (extremely conservative positioning)
Theta +416/day: Time decay earning ~$12,480/month passively (up from last week’s $10,140)
Extrinsic $41,258: Total premium at risk across all positions (down from $47,433 last week)
Buying Power 17.2%: Virtually unchanged from last week—massive capacity available
Week-over-week change:
Delta: 726 → 695 (reduced by 31)
Theta: 338 → 416 (increased by 78/day!)
Extrinsic: $47,433 → $41,258 (down $6,175 from time decay + closed TLT)
THIS WEEK’S TRADES (Feb 17-21)
Monday, February 17
Closed:
1 TLT Mar 20 88 Put bought back @ $0.50
Originally sold Feb 11 @ $1.12 credit
Profit: $62 ($1.12 - $0.50 = $0.62 × $100)
Reason: Hit 55% profit target with 31 DTE remaining—followed our 50% rule
Opened:
1 GLD Apr 17 415 Put @ $6.10 credit ($610)
Context: Gold pulled back from highs—opportunistic entry at 56 DTE
1 GLD Apr 17 410 Put @ $5.05 credit ($505)
Context: Added second GLD put at lower strike for additional premium
Tuesday, February 18 - Friday, February 21
No activity.
Week Summary
Total Trades: 3 (1 closed, 2 opened)
Net Premium Collected: +$1,053 (after TLT buyback)
Realized P&L This Week: +$62 (TLT)
Realized P&L February Total: +$417 TLT + $355 /MES (from prior week) = +$479
Trade Context: Took profit on TLT at rule-based target (55%), then redeployed into GLD puts as gold showed weakness from recent highs.
Active Positions (37 Total)
⚠️ IMPORTANT: The portfolio size displayed represents the current allocation of our model portfolio. Before placing any trade, ensure it fits your personal account size and risk tolerance. Remember, you can always reduce exposure by choosing smaller instruments such as /MES instead of /ES, or SPY instead of SPX.
SCALING REFERENCE: If you have a $100,000 portfolio, that’s roughly 1/10th of this portfolio size. If you have a $500,000 portfolio, that’s roughly 1/2 of this size. Scale positions proportionally to YOUR account.
/MES Futures Options (10 positions)
Upcoming Events & Management Plan
Next 30 Days:
Mar 20 (27-28 DTE): 5 positions expiring (/MES, SPX, SPY puts + hedge)
Apr 17 (55-56 DTE): 10 positions expiring (/MES, SPX, SPY, GLD)
Apr 30 (69 DTE): 3 SPY puts expiring
Final Thoughts
This week proved why we stay patient and under-leveraged.
While the market barely moved, our portfolio swung +$12,527 from time decay alone.
The math:
Theta: +416/day
Days in week: 7
Expected decay: ~$2,912
Actual swing: +$12,527
Portfolio Benchmarks & Position Limits
For detailed position sizing guidelines, maximum delta/theta limits by account size, margin requirements, and scaling examples.
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We share what WE are doing based on:
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Blindly copying our positions without adapting to YOUR circumstances can result in catastrophic losses. What works for a $1M Portfolio Margin account may be impossible or destructive for a $100K Regular Margin or IRA account.
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Do NOT trade if you: cannot afford losses, are using borrowed money or needed funds, don’t understand options risks, haven’t consulted professionals, or are emotionally unprepared.
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