Ticker journal · as of
NBIS
Nebius · positions and options overlay
The current register and 4 dated prints that mention NBIS. Positions update with each weekly book. The original journal leaves stay dated.
Not investment advice.
Current position
- Shares held
- 500
- Short calls / puts
- 2 / 3 contracts
- Net marked value
- HKD 463,134.13
- Net value / book NAV
- 6.70%
Stock HKD 592,800.00 + signed options HKD -129,665.87. USD values use the book's USD/HKD rate of 7.8. Net marked value is not delta-adjusted exposure or the cash required for put assignment.
Snapshot from 23 Oct 2026; not live quotes.
My thesis ·
Build the cloud, then show me the bill
Current view, written after the position snapshot above.
I prefer technical leadership in an AI infrastructure company. The person running it should understand the machinery, the software and the customer's problem. That is a big part of why Nebius interests me.
But an engineering background earns attention. The numbers earn the position.
Revenue needs to climb each quarter. Backlog needs to turn into billed usage. Operating margins need to survive depreciation. Debt and dilution need to behave themselves.
A giant contract announcement is exciting. Finding out how much is left for shareholders is the useful part.
In the 9 October book, my exposure was through six short put contracts, with no shares held. Assignment accepted. Those strikes are commitments to buy, with real cash requirements. I want the position to grow as execution proves itself. Technical leadership gets no free pass on financing.
My investment filter · growth, margins, dilution and the chart
Position lines
Full register · NBIS| Instrument | Pos | Last | Chg | Cost | Mkt val | Avg |
|---|---|---|---|---|---|---|
| Nebius GroupNBISUSD | 500 | 152.01 | −4.24% | USD 118,500.00 | USD 76,000.00 | 237.00 |
| NBIS Nov20'26 175 CNBISUSD | -1 | C11.44 | — | USD -1,999.19 | USD -1,123.73 | 19.99 |
| NBIS Nov20'26 175 PNBISUSD | -1 | C27.17 | — | USD -1,719.20 | USD -2,696.90 | 17.19 |
| NBIS Oct30'26 210 CNBISUSD | -1 | C0.270 | — | USD -1,279.36 | USD -27.33 | 12.79 |
| NBIS Oct30'26 210 PNBISUSD | -1 | C51.48 | — | USD -1,223.94 | USD -5,144.46 | 12.24 |
| NBIS Oct30'26 235 PNBISUSD | -1 | C76.34 | — | USD -1,568.93 | USD -7,631.41 | 15.69 |
Option quantities are contracts. Negative quantity is a short. C before a last price means a closing print.
Dated journal mentions
Original excerpts, newest first. Read each leaf for the full context.
· Print 006
NBIS 100 → 500. NVDA 400 → 600. TWLO 300 → 500. SOFI 8,500 → 9,000. FLEX 600 → 900. TQQQ 1,100 → 1,300. BE, SMMT and SMTC now sit as shares. NOW stock is gone; two October 30 puts remain. BRZE and NU left the register.
· Print 005
The current snapshot shows the posture. CRWV is 600 shares down to 300. BRZE is 1,200 up to 1,500. HIPO is no longer in the register. NBIS and SKHY now appear as stock positions. The options overlay is doing the adding: puts are spread across NBIS, AEIS, FLEX, BE, PENG, SMMT and SMTC, with calls and puts still managing the existing names.
· Print 004
NBIS is the add that is supposed to get larger. No stock yet. Puts are the whole position: Oct 09 230, Oct 16 235, Oct 23 240/245, and a new Oct 30 235. Assignment is accepted. Chasing the stock is not.
· Print 003
CRWV 700 → 600, last 88.60. Short calls rolled 90 → 81. Stock is through the strike — Oct 09/16 81 calls are close to assignment. Will let them execute and exit the name. The replacement is NBIS via short puts (Oct 02 205/235, Oct 09 230, Oct 16 235, Oct 23 245). No NBIS stock yet. Puts are the add.