FORTRESS FIGHT: COPX @ $77.38

BE SS: $93.40  |  CC-SS: $95.08  |  1 contracts (100 sh) |  ⌂ PORTFOLIO

GENERATED2026-07-16 03:39

COPX @ $77.38   UNDERWATER $16.03 (17.2% below BE SS)

PARTIAL: 19 of 20 contracts already capped (19x $82C). FIGHTing the 1 uncapped; all figures (income, hedge, cap give-up) are for that slice.

1 of 20 contracts (100 sh uncapped)  |  BE SS: $93.40  |  CC-SS: $95.08 (banked floor $94.73)  |  IV: HIGH  |  Accounts: Joint:1782

LC: $65 exp 2028-01-21 (entry $38.858/sh)
SP: $90 exp 2028-01-21 (entry $19.960/sh)
HP: $68 exp 2028-01-21 (entry $9.525/sh)

Economics

Max Loss$5,040(ND $28.40 + SW $22) x 100
Normal income ref$540/mo95% ann ROI on ML
Hedge (static, never rolled)$0/moHP expiry = SP LEAPS; decay ≈ $66/mo (info only, already in marks)
Unrealized P&L$-1,710fortress legs from IBKR
INCOME GOALPOSTS & VELOCITY
50% INCOME FLOOR
$270/mo
HEDGE COVER
$0/mo (static)
NORMAL INCOME
$540/mo (ATM CC, chain)
IC VELOCITY
5.3 mo to earn back $2,840
ML VELOCITY
9.3 mo to earn back $5,040
Deep drawdown confirmed: a CC at CC-SS $95.08 (probe: $92C 15d) brings only $10/mo (<20% of normal), so FIGHT below it is warranted.
🏦 CAMPAIGN LEDGER , realized CC income since 2026-07-02; banked cash shrinks the hole (shown as an info-only banked floor, the recommended CC-SS stays the pure recovery strike; seeded from open positions, reconciled from IBKR executions nightly)
Banked since 2026-07-02
$35
Hole (after banked)
$1,675
was $1,710 · 2% earned back
Cycles closed
1
Credit in flight
$760
CC-SS · banked floor (info)
$95.08 → $94.73
Open legAcctCredit/shIn flightOpened
19x $81.5C 17 Jul 2026U6241782$0.40$7602026-07-11
TECHNICALS (cc_timing weekly gate + daily trigger)
WEEKLYNEUTRAL · %B 37 (live) · RSI 49 · MACD bearish, hist falling
DAILYMIXED (provisional) · RSI 48 · %B 48 · hist rising (nightly)
LEVELSUpper BB (CC ceiling) $90.10 (+16%) · daily UBB $84.83 · 1-wk expected move ±$5 (chain IV)
SETUPNo tilt: engine default. (advisory; floors and picks are chain-only)
INTERPRETATION
Primary: 1 contract at $80.50 / 8d. This is the safest strike (survival 73%, breach 27%) that still earns 50% of normal income ($270/mo); it brings $300/mo. The engine maximizes the odds the pullback never reaches your strike, rather than chasing the fattest near-ATM premium.
More income, less safety: the ladder tops out at 1 × $78/8d for $656/mo, but breach risk rises to 44% (+17pp vs the primary). The lower strike is hit by a smaller bounce.
More safety, less income: for just the hedge you can sit at 1 × $86/8d (93% survival, $19/mo).
Downside anchor: the primary mortgages $1,378 (49% of IC) ONLY on a full V-bounce all the way to SS $93, recoverable in 2.6 months of normal income. That is the rare tail; the frequent case is the strike holding. Surgical close on the 1 contracts realizes $-1,740 and cuts bleed by $0/mo.

📅 Two weekly tracks, this Friday & next Friday

Each Friday gets its own recommended pick and full income ladder (safest strike per income rung, sized across your 1 contracts). The master ranks the two by E[net]/mo to pick one grand pick; both are shown here so you can choose the tenor that fits your roll cadence.

🏆 Grand pick: NEXT FRIDAY · 24 Jul 2026 (8d) · sell 1 × $80.50, 73% survival, $300/mo (E[net] $-5/mo).
This week's Friday is inside the pin/gamma window, so only the next weekly is shown.
TrackExpirySellSurvivalIncome/moE[net]/mo
NEXT FRIDAY 🏆24 Jul 2026 · 8d1 × $80.5073%$300$-5

📅 NEXT FRIDAY · 24 Jul 2026 · 8d · E[net] $-5/mo 🏆 GRAND PICK

🎯 Engine pick: sell 1 × $80.50 (primary), 73% survival, breach 27%, $300/mo.
Stay at the pick. Stepping safer (the $81.50 rung (33% normal) lifts survival to 78% (breach 27% → 22%) for $112/mo less (38% income)) buys little extra safety; the income is doing real work covering the bleed.
COPX  spot $77.38 · click a rung to expand its decision panel
RungSellExpiryDTEOTMSurvivalTouch oddsPer cycleIncome/moΔ vs pickCap give-up
🛡 safe yield1 × $8624 Jul8d11.1%93%14%$5$19-$281$903
Sell 1 × $86 11.1% OTM over spot $77.38 24 Jul 2026 (8d, $0.33 mid)
= $5 credit for the 8d cycle → $19/mo projected
Survival (stays ≤ $86)
93%
Breach risk
7%
POP (stays ≤ $86.33)
94%
EV / mo
$-14
📈 CAMPAIGN OUTLOOK (400 paths, sell-roll-repeat this rung for 9 mo)   whole in 2.3 mo [1.2-4.5] median  ·  55% of paths whole by 9 mo (vs 54% without)  ·  ~2.1 challenges expected  ·  median CC cash $105
🛡 IF CHALLENGED (spot reaches the strike) · challenge = the strike is touched at any point, so it runs ~2x the breach risk (finishing through it)
Challenge odds (touch by expiry)
8%
Flat exit net (mid-life)
-$217
Free roll-up
+$1/wk
Safest escape (by 31 Jul 2026)
$87 @ 69% POP
58% survival
Roll menuyour doors if the call gets challenged; each row = buy back the 1 calls + sell the new ones, one order. Prices assume the central case (day 4 of 8); earlier = worse credits, later = better, through the strike = add intrinsic
Buyback gross: $3.15/sh now → $2.22 mid-life (likely $1.80–$3.03)≈ $0 at expiry  |  you banked $0.05/sh, so a flat mid-life exit nets -$2.17/sh  |  roll rows are incremental, the banked premium stays yours
📊 Across 236 simulated challenges: the $86 strike is typically first touched on day 6 of 8, at $87 (overshoots $1.21). The [P25–P75] under each Total is that door's credit across those paths; % credit is the share of those challenges where the roll is a net credit.
MoveNew strike ≈New expiryTenorEst netTotal (1 ct)POP / surv
of new CC
If rolled & exited
total P&L · cap gain @ new strike
Roll out (same strike, buy time)~$8631 Jul 202611d left+$0.69/sh+$69
cycle +$74
[+$56…+$111] · 97% credit
66%
surv 52%
-$826 NOT
cap gain +$884
Up-and-out for even (raise the cap, free)~$8731 Jul 202611d left+$0.21/sh+$21
cycle +$26
[+$3…+$58] · 77% credit
69%
surv 58%
-$767 NOT
cap gain +$943
Max even-money escape in the band~$8731 Jul 202611d left+$0.21/sh+$21
cycle +$26
[+$3…+$58] · 77% credit
69%
surv 58%
-$767 NOT
cap gain +$943
SS $93 not reachable for even money within 45d; this is the ceiling of the free ladder
If rolled & exited = your total from-entry P&L if you roll to that strike and then close the whole fortress with the stock pinned there (all legs repriced; SAFE = P&L ≥ 0). Cap gain is what that roll earns THIS cycle (premium + appreciation from today to the new strike); the total adds your existing MTM on top. Same from-entry basis as this tool's @cap / total-exit numbers, at the rolled strike.
POP = P(stays ≤ strike + premium collected, the call is profitable); surv = P(stays ≤ strike, the call expires fully worthless). Survival is the stricter bar (no premium cushion), so it sits below POP.
Method: each leg = its live quote (buyback off the ask, sells off the bid) × a Black-Scholes ratio to the challenge, using the leg's own IV shifted +0.5 vol pt per +1% move (spike-vol name: vol expands on a fast move, richer buyback). Estimates, not quotes; the live roll table owns the real decision when a CC is actually threatened.
More detail, income coverage, downside budget, tripwires, held-to-expiry ladder, V-bounce stress
Income coverage
Gross FIGHT income$19/mo
vs 50% target ($270/mo)-93%
vs normal income ($540/mo)3% covered
Net income (after hedge)$19/mo
Downside budget
⚠ $86 is $9 below CC-SS $95.08: assignment on a recovery to whole locks the cap give-up below.
Cap give-up @ CC-SS (V-bounce)-$903
… as % of IC ($2,840)31.8%
… as % of ML ($5,040)17.9%
Recovery months (at normal income)1.7 mo
Surgical close (1 ct)$-1,738
Tripwiresprice and time left decide together; the matrix is the playbook
The one rule: roll when the short call's remaining TIME VALUE < $0.01/sh (~25% of the $0.05 collected) or spot ≥ $86.33 (breakeven), whichever comes first. Time value = call mark price minus intrinsic (max(0, spot − $86)); NOT the premium you collected. Momentum override: two daily closes above $84.83 (daily upper band) or daily RSI > 70 → treat "pressing" as "through".
Spot \ Time≥ 5d left3-4d left≤ 2d (expiry)
Below $85.14Do nothing. Theta wins.Do nothing.Penny buyback at the close; re-sell next cycle.
Pressing the strike
$85-86.33
Hold, alert at breakeven. Rolling into a spike pays top dollar; let theta bleed the buyback first.★ Roll on strength NOW: cheap buyback, fat credits.Close or roll same day; pin risk at the strike.
Through breakeven
≥ $86.33
Act now: intrinsic compounds daily. Up-and-out or safety roll.Roll or close immediately; time value is gone.Close today, or be assigned.
If held to expiryexact, settlement = intrinsic  ·  fortress delta 0.94 (IBKR)
ScenarioSpotCC leg netPosition totalvs todayvs do-nothing
at strike$86.00 (1.6σ)$5$-894+$816+$0
+2.5%$88.15 (2.0σ)$-210$-907+$803-$215
+5%$90.30 (2.5σ)$-425$-920+$790-$430
SS (= V-bounce)$93.40 (3.0σ)$-735$-939+$771-$600
V-BOUNCE STRESS (stock → CC-SS $95.08, where you are whole again, by expiry)
Starting unrealized P&L: $-1,710
+ Fortress recovery (un-capped): +$1,664
− CC assignment net of premium (1 × $86): -$903
Total Position P&L @ SS: $-949 (+$761 vs today)
Do-nothing baseline at SS: $-349 (this trade vs do-nothing: $-600, the opportunity cost of earning $19/mo FIGHT income now)
BB-reversion stress (→ $90.10 Upper BB (CC ceiling), the probable scenario per weekly technicals): CC give-up -$405, position total $-919 (+$791 vs today)
33% normal1 × $81.5024 Jul8d5.3%78%44%$50$188-$112$1,308
Sell 1 × $81.50 5.3% OTM over spot $77.38 24 Jul 2026 (8d, $0.80 mid)
= $50 credit for the 8d cycle → $188/mo projected
Survival (stays ≤ $81.50)
78%
Breach risk
22%
POP (stays ≤ $82.30)
82%
EV / mo
+$6
📈 CAMPAIGN OUTLOOK (400 paths, sell-roll-repeat this rung for 9 mo)   whole in 2.6 mo [1.4-4.2] median  ·  60% of paths whole by 9 mo (vs 52% without)  ·  ~7.3 challenges expected  ·  median CC cash $551
🛡 IF CHALLENGED (spot reaches the strike) · challenge = the strike is touched at any point, so it runs ~2x the breach risk (finishing through it)
Challenge odds (touch by expiry)
33%
Flat exit net (mid-life)
-$149
Free roll-up
+$1/wk
Safest escape (by 31 Jul 2026)
$84 @ 72% POP
64% survival
Roll menuyour doors if the call gets challenged; each row = buy back the 1 calls + sell the new ones, one order. Prices assume the central case (day 4 of 8); earlier = worse credits, later = better, through the strike = add intrinsic
Buyback gross: $2.81/sh now → $1.99 mid-life (likely $2.04–$3.18)≈ $0 at expiry  |  you banked $0.50/sh, so a flat mid-life exit nets -$1.49/sh  |  roll rows are incremental, the banked premium stays yours
📊 Across 987 simulated challenges: the $82 strike is typically first touched on day 4 of 8, at $83 (overshoots $1.10). The [P25–P75] under each Total is that door's credit across those paths; % credit is the share of those challenges where the roll is a net credit.
MoveNew strike ≈New expiryTenorEst netTotal (1 ct)POP / surv
of new CC
If rolled & exited
total P&L · cap gain @ new strike
Roll out (same strike, buy time)~$8231 Jul 202611d left+$0.61/sh+$61
cycle +$111
[+$30…+$74] · 96% credit
66%
surv 52%
-$1,211 NOT
cap gain +$499
Reliable up-and-out (highest cap still free ≥60%)~$8231 Jul 202611d left+$0.59/sh+$59
cycle +$109
[+$28…+$72] · 95% credit
67%
surv 52%
-$1,202 NOT
cap gain +$508
Up-and-out for even (raise the cap, free)~$8331 Jul 202611d left+$0.14/sh+$14
cycle +$64
[-$24…+$23] · 42% credit
70%
surv 58%
-$1,153 NOT
cap gain +$557
Max even-money escape in the band~$8331 Jul 202611d left+$0.14/sh+$14
cycle +$64
[-$24…+$23] · 42% credit
70%
surv 58%
-$1,153 NOT
cap gain +$557
SS $93 not reachable for even money within 45d; this is the ceiling of the free ladder
Safety roll (pay small debit, max POP)~$8431 Jul 202611d left-$0.31/sh-$31
cycle +$19
[-$78…-$27] · 13% credit
72%
surv 64%
-$1,103 NOT
cap gain +$607
budget: banked $50 debit $31 (61% used ≈ 0.7 wk of income) → whole cycle still +$19 cash · rolled 1 ct earn ≈ $459/mo while parked; 0 ct free to re-sell
If rolled & exited = your total from-entry P&L if you roll to that strike and then close the whole fortress with the stock pinned there (all legs repriced; SAFE = P&L ≥ 0). Cap gain is what that roll earns THIS cycle (premium + appreciation from today to the new strike); the total adds your existing MTM on top. Same from-entry basis as this tool's @cap / total-exit numbers, at the rolled strike.
POP = P(stays ≤ strike + premium collected, the call is profitable); surv = P(stays ≤ strike, the call expires fully worthless). Survival is the stricter bar (no premium cushion), so it sits below POP.
Method: each leg = its live quote (buyback off the ask, sells off the bid) × a Black-Scholes ratio to the challenge, using the leg's own IV shifted +0.5 vol pt per +1% move (spike-vol name: vol expands on a fast move, richer buyback). Estimates, not quotes; the live roll table owns the real decision when a CC is actually threatened.
More detail, income coverage, downside budget, tripwires, held-to-expiry ladder, V-bounce stress
Income coverage
Gross FIGHT income$188/mo
vs 50% target ($270/mo)-31%
vs normal income ($540/mo)35% covered
Net income (after hedge)$188/mo
Downside budget
⚠ $81.50 is $14 below CC-SS $95.08: assignment on a recovery to whole locks the cap give-up below.
Cap give-up @ CC-SS (V-bounce)-$1,308
… as % of IC ($2,840)46.0%
… as % of ML ($5,040)25.9%
Recovery months (at normal income)2.4 mo
Surgical close (1 ct)$-1,740
Tripwiresprice and time left decide together; the matrix is the playbook
The one rule: roll when the short call's remaining TIME VALUE < $0.12/sh (~25% of the $0.50 collected) or spot ≥ $82.30 (breakeven), whichever comes first. Time value = call mark price minus intrinsic (max(0, spot − $82)); NOT the premium you collected. Momentum override: two daily closes above $84.83 (daily upper band) or daily RSI > 70 → treat "pressing" as "through".
Spot \ Time≥ 5d left3-4d left≤ 2d (expiry)
Below $80.69Do nothing. Theta wins.Do nothing.Penny buyback at the close; re-sell next cycle.
Pressing the strike
$81-82.30
Hold, alert at breakeven. Rolling into a spike pays top dollar; let theta bleed the buyback first.★ Roll on strength NOW: cheap buyback, fat credits.Close or roll same day; pin risk at the strike.
Through breakeven
≥ $82.30
Act now: intrinsic compounds daily. Up-and-out or safety roll.Roll or close immediately; time value is gone.Close today, or be assigned.
If held to expiryexact, settlement = intrinsic  ·  fortress delta 0.94 (IBKR)
ScenarioSpotCC leg netPosition totalvs todayvs do-nothing
at strike$81.50 (≤1σ, normal week)$50$-1,272+$438+$45
+2.5%$83.54 (1.2σ)$-154$-1,284+$426-$159
+5%$85.58 (1.6σ)$-358$-1,297+$413-$363
SS (= V-bounce)$93.40 (3.0σ)$-1,140$-1,344+$366-$1,005
V-BOUNCE STRESS (stock → CC-SS $95.08, where you are whole again, by expiry)
Starting unrealized P&L: $-1,710
+ Fortress recovery (un-capped): +$1,664
− CC assignment net of premium (1 × $81.50): -$1,308
Total Position P&L @ SS: $-1,354 (+$356 vs today)
Do-nothing baseline at SS: $-349 (this trade vs do-nothing: $-1,005, the opportunity cost of earning $188/mo FIGHT income now)
BB-reversion stress (→ $90.10 Upper BB (CC ceiling), the probable scenario per weekly technicals): CC give-up -$810, position total $-1,324 (+$386 vs today)
🎯 50% normal1 × $80.5024 Jul8d4.0%73%42%$80$300$1,378
Sell 1 × $80.50 4.0% OTM over spot $77.38 24 Jul 2026 (8d, $1.10 mid)
= $80 credit for the 8d cycle → $300/mo projected
Survival (stays ≤ $80.50)
73%
Breach risk
27%
POP (stays ≤ $81.60)
79%
EV / mo
+$43
📈 CAMPAIGN OUTLOOK (400 paths, sell-roll-repeat this rung for 9 mo)   whole in 2.3 mo [1.4-4.9] median, 0.1 mo faster than no FIGHT (2.4 mo)  ·  66% of paths whole by 9 mo (vs 54% without)  ·  ~9.5 challenges expected  ·  median CC cash $676
🛡 IF CHALLENGED (spot reaches the strike) · challenge = the strike is touched at any point, so it runs ~2x the breach risk (finishing through it)
Challenge odds (touch by expiry)
42%
Flat exit net (mid-life)
-$114
Free roll-up
+$1/wk
Safest escape (by 31 Jul 2026)
$84 @ 75% POP
69% survival
Roll menuyour doors if the call gets challenged; each row = buy back the 1 calls + sell the new ones, one order. Prices assume the central case (day 4 of 8); earlier = worse credits, later = better, through the strike = add intrinsic
Buyback gross: $2.74/sh now → $1.94 mid-life (likely $2.18–$3.23)≈ $0 at expiry  |  you banked $0.80/sh, so a flat mid-life exit nets -$1.14/sh  |  roll rows are incremental, the banked premium stays yours
📊 Across 1,259 simulated challenges: the $80 strike is typically first touched on day 4 of 8, at $82 (overshoots $1.11). The [P25–P75] under each Total is that door's credit across those paths; % credit is the share of those challenges where the roll is a net credit.
MoveNew strike ≈New expiryTenorEst netTotal (1 ct)POP / surv
of new CC
If rolled & exited
total P&L · cap gain @ new strike
Roll out (same strike, buy time)~$8031 Jul 202611d left+$0.60/sh+$60
cycle +$140
[+$24…+$64] · 93% credit
66%
surv 52%
-$1,277 NOT
cap gain +$433
Reliable up-and-out (highest cap still free ≥60%)~$8131 Jul 202611d left+$0.57/sh+$57
cycle +$137
[+$21…+$61] · 93% credit
67%
surv 52%
-$1,268 NOT
cap gain +$442
Up-and-out for even (raise the cap, free)~$8231 Jul 202611d left+$0.12/sh+$12
cycle +$92
[-$30…+$11] · 34% credit
70%
surv 58%
-$1,218 NOT
cap gain +$492
Max even-money escape in the band~$8231 Jul 202611d left+$0.12/sh+$12
cycle +$92
[-$30…+$11] · 34% credit
70%
surv 58%
-$1,218 NOT
cap gain +$492
SS $93 not reachable for even money within 45d; this is the ceiling of the free ladder
Safety roll (pay small debit, max POP)~$8431 Jul 202611d left-$0.70/sh-$70
cycle +$10
[-$136…-$80] · 2% credit
75%
surv 69%
-$1,113 NOT
cap gain +$597
budget: banked $80 debit $70 (88% used ≈ 1.0 wk of income) → whole cycle still +$10 cash · rolled 1 ct earn ≈ $338/mo while parked; 0 ct free to re-sell
If rolled & exited = your total from-entry P&L if you roll to that strike and then close the whole fortress with the stock pinned there (all legs repriced; SAFE = P&L ≥ 0). Cap gain is what that roll earns THIS cycle (premium + appreciation from today to the new strike); the total adds your existing MTM on top. Same from-entry basis as this tool's @cap / total-exit numbers, at the rolled strike.
POP = P(stays ≤ strike + premium collected, the call is profitable); surv = P(stays ≤ strike, the call expires fully worthless). Survival is the stricter bar (no premium cushion), so it sits below POP.
Method: each leg = its live quote (buyback off the ask, sells off the bid) × a Black-Scholes ratio to the challenge, using the leg's own IV shifted +0.5 vol pt per +1% move (spike-vol name: vol expands on a fast move, richer buyback). Estimates, not quotes; the live roll table owns the real decision when a CC is actually threatened.
More detail, income coverage, downside budget, tripwires, held-to-expiry ladder, V-bounce stress
Income coverage
Gross FIGHT income$300/mo
vs 50% target ($270/mo)+11%
vs normal income ($540/mo)56% covered
Net income (after hedge)$300/mo
Downside budget
⚠ $80.50 is $15 below CC-SS $95.08: assignment on a recovery to whole locks the cap give-up below.
Cap give-up @ CC-SS (V-bounce)-$1,378
… as % of IC ($2,840)48.5%
… as % of ML ($5,040)27.3%
Recovery months (at normal income)2.6 mo
Surgical close (1 ct)$-1,740
Tripwiresprice and time left decide together; the matrix is the playbook
The one rule: roll when the short call's remaining TIME VALUE < $0.20/sh (~25% of the $0.80 collected) or spot ≥ $81.60 (breakeven), whichever comes first. Time value = call mark price minus intrinsic (max(0, spot − $80)); NOT the premium you collected. Momentum override: two daily closes above $84.83 (daily upper band) or daily RSI > 70 → treat "pressing" as "through".
Spot \ Time≥ 5d left3-4d left≤ 2d (expiry)
Below $79.69Do nothing. Theta wins.Do nothing.Penny buyback at the close; re-sell next cycle.
Pressing the strike
$80-81.60
Hold, alert at breakeven. Rolling into a spike pays top dollar; let theta bleed the buyback first.★ Roll on strength NOW: cheap buyback, fat credits.Close or roll same day; pin risk at the strike.
Through breakeven
≥ $81.60
Act now: intrinsic compounds daily. Up-and-out or safety roll.Roll or close immediately; time value is gone.Close today, or be assigned.
If held to expiryexact, settlement = intrinsic  ·  fortress delta 0.94 (IBKR)
ScenarioSpotCC leg netPosition totalvs todayvs do-nothing
at strike$80.50 (≤1σ, normal week)$80$-1,336+$374+$75
+2.5%$82.51 (≤1σ, normal week)$-121$-1,348+$362-$126
+5%$84.53 (1.4σ)$-323$-1,360+$350-$328
SS (= V-bounce)$93.40 (3.0σ)$-1,210$-1,414+$296-$1,075
V-BOUNCE STRESS (stock → CC-SS $95.08, where you are whole again, by expiry)
Starting unrealized P&L: $-1,710
+ Fortress recovery (un-capped): +$1,664
− CC assignment net of premium (1 × $80.50): -$1,378
Total Position P&L @ SS: $-1,424 (+$286 vs today)
Do-nothing baseline at SS: $-349 (this trade vs do-nothing: $-1,075, the opportunity cost of earning $300/mo FIGHT income now)
BB-reversion stress (→ $90.10 Upper BB (CC ceiling), the probable scenario per weekly technicals): CC give-up -$880, position total $-1,394 (+$316 vs today)
100% normal1 × $7824 Jul8d0.8%56%90%$175$656+$356$1,533
Sell 1 × $78 0.8% OTM over spot $77.38 24 Jul 2026 (8d, $1.98 mid)
= $175 credit for the 8d cycle → $656/mo projected
Survival (stays ≤ $78)
56%
Breach risk
44%
POP (stays ≤ $79.97)
70%
EV / mo
+$93
📈 CAMPAIGN OUTLOOK (400 paths, sell-roll-repeat this rung for 9 mo)   whole in 2.5 mo [1.3-4.4] median  ·  70% of paths whole by 9 mo (vs 51% without)  ·  ~22.3 challenges expected  ·  median CC cash $933
🛡 IF CHALLENGED (spot reaches the strike) · challenge = the strike is touched at any point, so it runs ~2x the breach risk (finishing through it)
Challenge odds (touch by expiry)
72%
Flat exit net (mid-life)
-$7
Free roll-up
+$1/wk
Safest escape (by 31 Jul 2026)
$87 @ 92% POP
91% survival
Roll menuyour doors if the call gets challenged; each row = buy back the 1 calls + sell the new ones, one order. Prices assume the central case (day 4 of 8); earlier = worse credits, later = better, through the strike = add intrinsic
Buyback gross: $2.57/sh now → $1.82 mid-life (likely $2.50–$3.57)≈ $0 at expiry  |  you banked $1.75/sh, so a flat mid-life exit nets -$0.07/sh  |  roll rows are incremental, the banked premium stays yours
📊 Across 2,153 simulated challenges: the $78 strike is typically first touched on day 2 of 8, at $79 (overshoots $1.26). The [P25–P75] under each Total is that door's credit across those paths; % credit is the share of those challenges where the roll is a net credit.
MoveNew strike ≈New expiryTenorEst netTotal (1 ct)POP / surv
of new CC
If rolled & exited
total P&L · cap gain @ new strike
Roll out (same strike, buy time)~$7831 Jul 202611d left+$0.56/sh+$56
cycle +$231
[+$6…+$31] · 81% credit
66%
surv 52%
-$1,420 NOT
cap gain +$290
Reliable up-and-out (highest cap still free ≥60%)~$7831 Jul 202611d left+$0.53/sh+$53
cycle +$228
[+$3…+$29] · 79% credit
67%
surv 52%
-$1,412 NOT
cap gain +$298
Up-and-out for even (raise the cap, free)~$7931 Jul 202611d left+$0.08/sh+$8
cycle +$183
[-$52…-$20] · 11% credit
70%
surv 59%
-$1,362 NOT
cap gain +$348
Max even-money escape in the band~$7931 Jul 202611d left+$0.08/sh+$8
cycle +$183
[-$52…-$20] · 11% credit
70%
surv 59%
-$1,362 NOT
cap gain +$348
SS $93 not reachable for even money within 45d; this is the ceiling of the free ladder
Safety roll (pay small debit, max POP)~$8731 Jul 202611d left-$1.57/sh-$157
cycle +$18
[-$297…-$212]
92%
surv 91%
-$823 NOT
cap gain +$887
budget: banked $175 debit $157 (90% used ≈ 1.0 wk of income) → whole cycle still +$18 cash · rolled 1 ct earn ≈ $67/mo while parked; 0 ct free to re-sell
If rolled & exited = your total from-entry P&L if you roll to that strike and then close the whole fortress with the stock pinned there (all legs repriced; SAFE = P&L ≥ 0). Cap gain is what that roll earns THIS cycle (premium + appreciation from today to the new strike); the total adds your existing MTM on top. Same from-entry basis as this tool's @cap / total-exit numbers, at the rolled strike.
POP = P(stays ≤ strike + premium collected, the call is profitable); surv = P(stays ≤ strike, the call expires fully worthless). Survival is the stricter bar (no premium cushion), so it sits below POP.
Method: each leg = its live quote (buyback off the ask, sells off the bid) × a Black-Scholes ratio to the challenge, using the leg's own IV shifted +0.5 vol pt per +1% move (spike-vol name: vol expands on a fast move, richer buyback). Estimates, not quotes; the live roll table owns the real decision when a CC is actually threatened.
More detail, income coverage, downside budget, tripwires, held-to-expiry ladder, V-bounce stress
Income coverage
Gross FIGHT income$656/mo
vs 50% target ($270/mo)+143%
vs normal income ($540/mo)122% covered
Net income (after hedge)$656/mo
Downside budget
⚠ $78 is $17 below CC-SS $95.08: assignment on a recovery to whole locks the cap give-up below.
Cap give-up @ CC-SS (V-bounce)-$1,533
… as % of IC ($2,840)54.0%
… as % of ML ($5,040)30.4%
Recovery months (at normal income)2.8 mo
Surgical close (1 ct)$-1,733
Tripwiresprice and time left decide together; the matrix is the playbook
The one rule: roll when the short call's remaining TIME VALUE < $0.44/sh (~25% of the $1.75 collected) or spot ≥ $79.97 (breakeven), whichever comes first. Time value = call mark price minus intrinsic (max(0, spot − $78)); NOT the premium you collected. Momentum override: two daily closes above $84.83 (daily upper band) or daily RSI > 70 → treat "pressing" as "through".
Spot \ Time≥ 5d left3-4d left≤ 2d (expiry)
Below $77.22Do nothing. Theta wins.Do nothing.Penny buyback at the close; re-sell next cycle.
Pressing the strike
$77-79.97
Hold, alert at breakeven. Rolling into a spike pays top dollar; let theta bleed the buyback first.★ Roll on strength NOW: cheap buyback, fat credits.Close or roll same day; pin risk at the strike.
Through breakeven
≥ $79.97
Act now: intrinsic compounds daily. Up-and-out or safety roll.Roll or close immediately; time value is gone.Close today, or be assigned.
If held to expiryexact, settlement = intrinsic  ·  fortress delta 0.94 (IBKR)
ScenarioSpotCC leg netPosition totalvs todayvs do-nothing
at strike$78.00 (≤1σ, normal week)$175$-1,476+$234+$170
+2.5%$79.95 (≤1σ, normal week)$-20$-1,488+$222-$25
+5%$81.90 (≤1σ, normal week)$-215$-1,500+$210-$220
SS (= V-bounce)$93.40 (3.0σ)$-1,365$-1,569+$141-$1,230
V-BOUNCE STRESS (stock → CC-SS $95.08, where you are whole again, by expiry)
Starting unrealized P&L: $-1,710
+ Fortress recovery (un-capped): +$1,664
− CC assignment net of premium (1 × $78): -$1,533
Total Position P&L @ SS: $-1,579 (+$131 vs today)
Do-nothing baseline at SS: $-349 (this trade vs do-nothing: $-1,230, the opportunity cost of earning $656/mo FIGHT income now)
BB-reversion stress (→ $90.10 Upper BB (CC ceiling), the probable scenario per weekly technicals): CC give-up -$1,035, position total $-1,549 (+$161 vs today)
A nudge, not a rule: the engine maximizes income at acceptable safety; this weighs the income you would give up against the breach risk you would shed. Your hedge bleed and your read on COPX are the tiebreakers.
⚔ FIGHT CC options · full candidate scan (17 clear the floor), click to expand

Every eligible strike x expiry in the 4-45 DTE band (2 expiries scanned, 17 clear the income floor), each sized to the minimum contracts that clear it. Sorted by survival (safest first): the primary 🎯 is the safest; rows below trade safety for income.

Fortress delta: 0.940 (IBKR)  |  Recovery@SS: +$1,664 (un-capped fortress gain if stock rallies to SS)  |  Do-nothing @ SS: $-349

StrikeDTEExpiryBidSellIncome/moNet/moSurvivalPOP (mid)EV/moCap Give-up @ CC-SS%ICTotal P&L @ SS
$80.508d24 Jul 2026$0.801/1$300$30073%79%+$43-$1,37848.5%$-1,424 (vs do-nothing $-1,075)
$808d24 Jul 2026$0.751/1$281$28170%76%$-22-$1,43350.4%$-1,479 (vs do-nothing $-1,130)
$80.5015d31 Jul 2026$1.401/1$280$28068%76%+$33-$1,31846.4%$-1,364 (vs do-nothing $-1,015)
$8015d31 Jul 2026$1.551/1$310$31066%74%+$32-$1,35347.6%$-1,399 (vs do-nothing $-1,050)
$79.5015d31 Jul 2026$1.801/1$360$36063%73%+$54-$1,37848.5%$-1,424 (vs do-nothing $-1,075)
$798d24 Jul 2026$1.251/1$469$46963%73%+$51-$1,48352.2%$-1,529 (vs do-nothing $-1,180)
$7915d31 Jul 2026$1.901/1$380$38061%72%+$37-$1,41849.9%$-1,464 (vs do-nothing $-1,115)
$78.5015d31 Jul 2026$2.251/1$450$45058%71%+$68-$1,43350.4%$-1,479 (vs do-nothing $-1,130)
$788d24 Jul 2026$1.751/1$656$65656%70%+$93-$1,53354.0%$-1,579 (vs do-nothing $-1,230)
$7815d31 Jul 2026$2.351/1$470$47055%69%+$45-$1,47351.9%$-1,519 (vs do-nothing $-1,170)
$77.5015d31 Jul 2026$2.701/1$540$54053%69%+$68-$1,48852.4%$-1,534 (vs do-nothing $-1,185)
$7715d31 Jul 2026$2.801/1$560$56050%67%+$38-$1,52853.8%$-1,574 (vs do-nothing $-1,225)
$778d24 Jul 2026$2.201/1$825$82549%67%+$83-$1,58855.9%$-1,634 (vs do-nothing $-1,285)
Show 4 more candidates (lower strikes: more income, lower survival)
StrikeDTEExpiryBidSellIncome/moNet/moSurvivalPOP (mid)EV/moCap Give-up @ CC-SS%ICTotal P&L @ SS
$76.5015d31 Jul 2026$3.201/1$640$64047%66%+$65-$1,53854.1%$-1,584 (vs do-nothing $-1,235)
$76.508d24 Jul 2026$2.501/1$938$93845%65%+$93-$1,60856.6%$-1,654 (vs do-nothing $-1,305)
$7615d31 Jul 2026$3.401/1$680$68044%65%+$48-$1,56855.2%$-1,614 (vs do-nothing $-1,265)
$768d24 Jul 2026$2.701/1$1,012$1,01241%63%+$57-$1,63857.7%$-1,684 (vs do-nothing $-1,335)

Income/mo = FIGHT leg gross, DTE-prorated. Net/mo = FIGHT + conservative CC gross minus hedge cost. POP (mid) = probability stock closes at or below (strike + mid premium) at expiry, per-strike chain IV when available. Survival = CC expires fully worthless. EV/mo = premium minus expected buyback, monthly, with realized vol = IV x 85% (variance risk premium 15%). Cap give-up @ SS = recovery mortgaged on a V-bounce to SS, net of premium. Total P&L @ SS = absolute position P&L if the stock closes at SS; "vs do-nothing" = opportunity cost against holding all 1 contracts at the conservative CC.

fortress_fight.py v6.1  |  2026-07-16 03:39