Looking at this trade, you've sold a put option on NVDA with the following details:

• Option: NVDA Put, Expiration 09/18/2026, Strike $100.00
• Premium Received: $0.17 per share (mid price)
• Limit Price: $0.17 (assuming you got filled at the mid)

To calculate your IRR, let me pull the current NVDA price and the option chain details to verify the trade parameters and determine the return profile.Let me get the current NVDA stock price to complete the analysis.Good. Now I have all the data needed. Here's the IRR analysis of your put sell:

NVDA Short Put — IRR Analysis

Trade Details: - Sell (short) 1 NVDA Put, Strike $100, Expiration 09/18/2026 - Premium received: $0.17/share → $17.00 per contract (mid) - NVDA current price: ~$210

Margin/Capital Requirement: For a cash-secured put, you'd need $10,000 (strike × 100 shares). For a naked put on margin, typically ~20% of the underlying minus OTM amount, or roughly $2,000–$4,000. Let's calculate both scenarios.

Scenario 1: Cash-Secured Put (Capital = $10,000)

• Days to expiration: 64 days (Jul 16 → Sep 18, 2026)
• Premium: $17.00
• Return on capital: $17 / $10,000 = 0.17%
• Annualized IRR: (1 + 0.0017)^(365/64) − 1 = ~0.97%

Scenario 2: Naked Put (~20% Margin, Capital ≈ $2,000–$4,000)

Key Observations

• The $100 strike is far out of the money (~52% below current $210), so the premium is tiny. The market is pricing this as a very low-probability event.
• Your IRR is modest because the premium ($0.17) is small relative to the time and capital tied up.
• The real risk is a tail event — NVDA falling below $100 by September. That's a >50% drop in 64 days, which would be catastrophic but seems unlikely barring a black swan.
• Breakeven: $99.83 (strike minus premium). Below that, you start losing.

Bottom line: This is effectively picking up pennies in front of a steamroller. The annualized return of ~1–5% (depending on margin treatment) is quite low for the tail risk. You'd earn more just holding T-bills at current rates (~4–5%) with zero equity risk. The trade only makes sense if you're very confident NVDA won't revisit levels it hasn't seen since early 2024, and you're using portfolio margin to minimize capital lock-up.

Let me pull the option chain for the December expiration to verify.---

NVDA Short Put — Comparison: Sep vs Dec $100 Strike

IRR Scenarios

Key Takeaways

The December trade is better on every metric:

• 3.6× more premium ($61 vs $17) for only 2.4× more time (155 vs 64 days)
• The Dec contract reflects higher tail risk pricing further out the curve, but the premium scales faster than time decay (theta) — you're being paid more per day on the Dec contract (~$0.39/day vs ~$0.27/day)
• On a cash-secured basis, both are underwhelming vs risk-free rates. On portfolio margin at ~$2,000 capital, the Dec trade yields ~7.4% annualized — starting to look reasonable for a far-OTM tail-risk sale.

Neither trade is compelling unless you're using margin efficiently. The Dec $100 put is the better of the two — you capture the volatility smile further out the curve with less theta burn per day.

Let me pull the full NVDA option chain across all expirations to build this.Now let me build the chart. I need to extract the $100 strike put mid prices across all expirations.

Loading chart...Now let me also show the full table.The chart and table tell the story clearly. Here's the key takeaway:

NVDA $100 Put — Premium/Day Across Expirations

The premium per day rises steadily as you go further out in time. This means longer-dated contracts pay you more per day than shorter ones — the market's pricing of tail risk grows faster than linear time decay would suggest.

Key observations:

• Near-term (Jul–Aug 2026): Barely anything — ~0.1–0.4¢/day. These are essentially worthless at ~52% OTM.
• Sweet spot starts around Mar 2027 (~8 months out): You cross above 0.45¢/day, and the curve keeps rising.
• Dec 2027–Dec 2028: ~0.61–0.71¢/day, the highest on the curve. The Dec 2028 $100 put pays ~$6.23/share for 883 days.

What this means for IRR:

The annualized return (on $10k cash-secured) is tiny — 0.01% to 0.03% across the board. But on portfolio margin (~$2k capital), the longer-dated contracts deliver ~1.3–1.6% annualized, still nowhere near T-bills.

The real trade here isn't about yield — it's about harvesting a volatility risk premium. If NVDA stays above $100 through 2028, you collect $623 per contract. The premium/day slope confirms the market is pricing in a fat left tail the further you go out, which is exactly what you're selling against.

The chart makes it visual: premium/day is an upward-sloping curve, meaning the Dec contracts you showed me ($0.61 for 155 days) are actually on the low end of the efficiency curve. The real premium/day pickup happens beyond 1 year out.

The issue is that IRR depends on the capital requirement, which varies by how you're margined. Let me calculate IRR for both cash-secured ($10k) and a portfolio margin scenario (~$2k capital), since that's what makes these numbers meaningful.

Loading chart...The chart now shows IRR across three capital scenarios. Here's what stands out:

NVDA $100 Short Put — IRR Curve Analysis

The IRR curve is upward-sloping — longer expirations deliver better annualized returns, confirming what the premium/day chart hinted at.

Key takeaway: Even on portfolio margin at $2k capital, the best IRR on the entire curve is ~0.13% annualized. That's less than a high-yield savings account. These far-OTM puts are priced extremely cheaply because NVDA would need to fall >50% for them to finish in the money.

The rising IRR curve does show that selling longer-dated puts is more capital-efficient than churning short-dated ones — but none of these produce a meaningful yield. This is purely a tail-risk-premium harvesting strategy, not an income strategy.

Loading chart...The chart is now focused on the 1-year window. Here's the picture:

NVDA $100 Put — 1-Year IRR Curve

Three lines: cash-secured ($10k), $3k margin, $2k margin. The IRR stays firmly below 0.2% across the board.

The spike at Aug 14 is an anomaly — that expiration shows a mid of $0.12 vs. just $0.055 a week later (Aug 21), likely a wide or stale quote given the $0.08 bid-ask spread. Ignore it.

The clean trend is a gentle upward slope from ~0.01% to ~0.06% (on $2k margin) as you go from July to December. The Dec $100 put is the best 1-year IRR at roughly 0.06% annualized on margin, 0.013% cash-secured.

Bottom line: Within 1 year, no expiration on the $100 strike generates a meaningful IRR. These are lottery tickets you sell for pocket change.