20 contracts (2,000 sh) | BE SS: $93.40 | CC-SS: $94.79 (banked floor $94.13) | IV: HIGH | Accounts: Joint:1782
| Max Loss | $100,800 | (ND $28.40 + SW $22) x 2000 |
| Normal income ref | $12,000/mo | 95% ann ROI on ML |
| Hedge (static, never rolled) | $0/mo | HP expiry = SP LEAPS; decay ≈ $1,278/mo (info only, already in marks) |
| Unrealized P&L | $-31,500 | fortress legs from IBKR |
| Open leg | Acct | Credit/sh | In flight | Opened |
|---|---|---|---|---|
| 20x $80.5C 31 Jul 2026 | U6241782 | $0.58 | $1,166 | 2026-07-28 |
Each Friday gets its own recommended pick and full income ladder (safest strike per income rung, sized across your 20 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.
| Track | Expiry | Sell | Survival | Income/mo | E[net]/mo |
|---|---|---|---|---|---|
| NEXT FRIDAY 🏆 | 7 Aug 2026 · 8d | 19 × $82 | 74% | $6,056 | $-3,747 |
| Rung | Sell | Expiry | DTE | OTM | Survival | Touch odds | FIGHT edge | Per cycle | Income/mo | Δ vs pick | Cap give-up | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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| ▸ | 🛡 safe yield | 20 × $88 | 7 Aug | 8d | 12.1% | 94%hist 100% | 11%hist 5% | -1pp | $100 | $375 | -$5,681 | $13,489 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Sell 20 × $88 12.1% OTM over spot $78.50 7 Aug 2026 (8d, $0.40 mid) = $100 credit for the 8d cycle → $375/mo projected Survival (stays ≤ $88) 94% Breach risk 6% POP (stays ≤ $88.40) 95% EV / mo $-152 📈 CAMPAIGN OUTLOOK (400 simulated futures, this rung on repeat for 9 months, no directional opinion) FIGHT'S EDGE -1pp 61% whole by 9mo vs 61% doing nothing FIRE DRILLS ~0.5/quarter challenges to roll; realized tends lower (calibration) BANKED RATE WHILE FIGHTING $296/mo median; plan ~$202/mo after 68% keep · $1,598 banked by campaign end (selling stops once whole) green: with FIGHT · grey: without if it recovers, the typical trip is ~2.0 mo [1.0-4.4], measured ONLY among the 61% of futures that got whole 🛡 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) -$6,301 Free roll-up none Safest escape (by 21 Aug 2026) $90 @ 69% POP 58% survival Roll menuyour doors if the call gets challenged; each row = buy back the 20 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: $4.53/sh now → $3.20 mid-life (likely $2.50–$4.23) → ≈ $0 at expiry | you banked $0.05/sh, so a flat mid-life exit nets -$3.15/sh | roll rows are incremental, the banked premium stays yours 📊 Across 236 simulated challenges: the $88 strike is typically first touched on day 6 of 8, at $89 (overshoots $1.28). 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.
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 stressIncome coverage
Downside budget ⚠ $88 is $7 below CC-SS $94.79: assignment on a recovery to whole locks the cap give-up below.
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 ≥ $88.40 (breakeven), whichever comes first. Time value = call mark price minus intrinsic (max(0, spot − $88)); NOT the premium you collected. Momentum override: two daily closes above $80.63 (daily upper band) or daily RSI > 70 → treat "pressing" as "through".
If held to expiryexact, settlement = intrinsic · fortress delta 0.95 (IBKR)
V-BOUNCE STRESS (stock → CC-SS $94.79, where you are whole again, by expiry) Starting unrealized P&L: $-31,500 + Fortress recovery (un-capped): +$30,927 − CC assignment net of premium (20 × $88): -$13,489 Total Position P&L @ SS: $-14,062 (+$17,438 vs today) Do-nothing baseline at SS: $-9,862 (this trade vs do-nothing: $-4,200, the opportunity cost of earning $375/mo FIGHT income now) BB-reversion stress (→ $90.20 Upper BB (CC ceiling), the probable scenario per weekly technicals): CC give-up -$4,300, position total $-13,593 (+$17,907 vs today) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| ▸ | 33% normal | 18 × $83 | 7 Aug | 8d | 5.7% | 79%hist 96% | 44%hist 28% | +5pp | $1,080 | $4,050 | -$2,006 | $20,150 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Sell 18 × $83 5.7% OTM over spot $78.50 7 Aug 2026 (8d, $0.93 mid) = $1,080 credit for the 8d cycle → $4,050/mo projected Survival (stays ≤ $83) 79% Breach risk 21% POP (stays ≤ $83.92) 83% EV / mo +$552 📈 CAMPAIGN OUTLOOK (400 simulated futures, this rung on repeat for 9 months, no directional opinion) FIGHT'S EDGE +5pp 70% whole by 9mo vs 64% doing nothing FIRE DRILLS ~2.1/quarter challenges to roll; realized tends lower (calibration) BANKED RATE WHILE FIGHTING $2,164/mo median; plan ~$1,472/mo after 68% keep · $8,899 banked by campaign end (selling stops once whole) green: with FIGHT · grey: without if it recovers, the typical trip is ~2.0 mo [1.0-4.2], measured ONLY among the 70% of futures that got whole 🛡 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) 32% Flat exit net (mid-life) -$4,044 Free roll-up none Safest escape (by 21 Aug 2026) $86 @ 71% POP 62% survival Roll menuyour doors if the call gets challenged; each row = buy back the 18 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: $4.03/sh now → $2.85 mid-life (likely $2.90–$4.43) → ≈ $0 at expiry | you banked $0.60/sh, so a flat mid-life exit nets -$2.25/sh | roll rows are incremental, the banked premium stays yours 📊 Across 975 simulated challenges: the $83 strike is typically first touched on day 4 of 8, at $84 (overshoots $1.20). 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.
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 stressIncome coverage
Downside budget ⚠ $83 is $12 below CC-SS $94.79: assignment on a recovery to whole locks the cap give-up below.
Tripwiresprice and time left decide together; the matrix is the playbook The one rule: roll when the short call's remaining TIME VALUE < $0.15/sh (~25% of the $0.60 collected) or spot ≥ $83.92 (breakeven), whichever comes first. Time value = call mark price minus intrinsic (max(0, spot − $83)); NOT the premium you collected. Momentum override: two daily closes above $80.63 (daily upper band) or daily RSI > 70 → treat "pressing" as "through".
If held to expiryexact, settlement = intrinsic · fortress delta 0.95 (IBKR)
V-BOUNCE STRESS (stock → CC-SS $94.79, where you are whole again, by expiry) Starting unrealized P&L: $-31,500 + Fortress recovery (un-capped): +$30,927 − CC assignment net of premium (18 × $83): -$20,150 − Conservative CC assignment net of premium (2 × $90): -$929 Total Position P&L @ SS: $-21,652 (+$9,848 vs today) Do-nothing baseline at SS: $-9,862 (this trade vs do-nothing: $-11,790, the opportunity cost of earning $4,050/mo FIGHT income now) BB-reversion stress (→ $90.20 Upper BB (CC ceiling), the probable scenario per weekly technicals): CC give-up -$11,880, position total $-21,183 (+$10,317 vs today) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| ▸ | 🎯 50% normal | 19 × $82 | 7 Aug | 8d | 4.5% | 74%hist 96% | 54%hist 43% | +11pp | $1,615 | $6,056 | — | $22,695 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Sell 19 × $82 4.5% OTM over spot $78.50 7 Aug 2026 (8d, $1.30 mid) = $1,615 credit for the 8d cycle → $6,056/mo projected Survival (stays ≤ $82) 74% Breach risk 26% POP (stays ≤ $83.30) 80% EV / mo +$901 📈 CAMPAIGN OUTLOOK (400 simulated futures, this rung on repeat for 9 months, no directional opinion) FIGHT'S EDGE +11pp 68% whole by 9mo vs 57% doing nothing FIRE DRILLS ~2.9/quarter challenges to roll; realized tends lower (calibration) BANKED RATE WHILE FIGHTING $2,897/mo median; plan ~$1,970/mo after 68% keep · $11,719 banked by campaign end (selling stops once whole) green: with FIGHT · grey: without if it recovers, the typical trip is ~2.1 mo [1.1-3.9], measured ONLY among the 68% of futures that got whole 🛡 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) 40% Flat exit net (mid-life) -$3,664 Free roll-up none Safest escape (by 21 Aug 2026) $86 @ 74% POP 66% survival Roll menuyour doors if the call gets challenged; each row = buy back the 19 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: $3.93/sh now → $2.78 mid-life (likely $3.08–$4.63) → ≈ $0 at expiry | you banked $0.85/sh, so a flat mid-life exit nets -$1.93/sh | roll rows are incremental, the banked premium stays yours 📊 Across 1,196 simulated challenges: the $82 strike is typically first touched on day 4 of 8, at $83 (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.
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 stressIncome coverage
Downside budget ⚠ $82 is $13 below CC-SS $94.79: assignment on a recovery to whole locks the cap give-up below.
Tripwiresprice and time left decide together; the matrix is the playbook The one rule: roll when the short call's remaining TIME VALUE < $0.21/sh (~25% of the $0.85 collected) or spot ≥ $83.30 (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 $80.63 (daily upper band) or daily RSI > 70 → treat "pressing" as "through".
If held to expiryexact, settlement = intrinsic · fortress delta 0.95 (IBKR)
V-BOUNCE STRESS (stock → CC-SS $94.79, where you are whole again, by expiry) Starting unrealized P&L: $-31,500 + Fortress recovery (un-capped): +$30,927 − CC assignment net of premium (19 × $82): -$22,695 − Conservative CC assignment net of premium (1 × $90): -$464 Total Position P&L @ SS: $-23,732 (+$7,768 vs today) Do-nothing baseline at SS: $-9,862 (this trade vs do-nothing: $-13,870, the opportunity cost of earning $6,056/mo FIGHT income now) BB-reversion stress (→ $90.20 Upper BB (CC ceiling), the probable scenario per weekly technicals): CC give-up -$13,965, position total $-23,263 (+$8,237 vs today) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| ▸ | 100% normal | 19 × $79.50 | 7 Aug | 8d | 1.3% | 58%hist 79% | 86%hist 80% | +12pp | $3,230 | $12,112 | +$6,056 | $25,830 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Sell 19 × $79.50 1.3% OTM over spot $78.50 7 Aug 2026 (8d, $2.12 mid) = $3,230 credit for the 8d cycle → $12,112/mo projected Survival (stays ≤ $79.50) 58% Breach risk 42% POP (stays ≤ $81.62) 71% EV / mo +$1,314 📈 CAMPAIGN OUTLOOK (400 simulated futures, this rung on repeat for 9 months, no directional opinion) FIGHT'S EDGE +12pp 72% whole by 9mo vs 60% doing nothing FIRE DRILLS ~5.8/quarter challenges to roll; realized tends lower (calibration) BANKED RATE WHILE FIGHTING $4,405/mo median; plan ~$2,996/mo after 68% keep · $13,908 banked by campaign end (selling stops once whole) green: with FIGHT · grey: without if it recovers, the typical trip is ~1.8 mo [0.9-3.7], measured ONLY among the 72% of futures that got whole 🛡 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) 69% Flat exit net (mid-life) -$1,731 Free roll-up none Safest escape (by 21 Aug 2026) $86 @ 81% POP 77% survival Roll menuyour doors if the call gets challenged; each row = buy back the 19 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: $3.69/sh now → $2.61 mid-life (likely $3.56–$4.96) → ≈ $0 at expiry | you banked $1.70/sh, so a flat mid-life exit nets -$0.91/sh | roll rows are incremental, the banked premium stays yours 📊 Across 2,061 simulated challenges: the $80 strike is typically first touched on day 2 of 8, at $81 (overshoots $1.32). 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.
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 stressIncome coverage
Downside budget ⚠ $79.50 is $15 below CC-SS $94.79: assignment on a recovery to whole locks the cap give-up below.
Tripwiresprice and time left decide together; the matrix is the playbook The one rule: roll when the short call's remaining TIME VALUE < $0.42/sh (~25% of the $1.70 collected) or spot ≥ $81.62 (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 $80.63 (daily upper band) or daily RSI > 70 → treat "pressing" as "through".
If held to expiryexact, settlement = intrinsic · fortress delta 0.95 (IBKR)
V-BOUNCE STRESS (stock → CC-SS $94.79, where you are whole again, by expiry) Starting unrealized P&L: $-31,500 + Fortress recovery (un-capped): +$30,927 − CC assignment net of premium (19 × $79.50): -$25,830 − Conservative CC assignment net of premium (1 × $90): -$464 Total Position P&L @ SS: $-26,867 (+$4,633 vs today) Do-nothing baseline at SS: $-9,862 (this trade vs do-nothing: $-17,005, the opportunity cost of earning $12,112/mo FIGHT income now) BB-reversion stress (→ $90.20 Upper BB (CC ceiling), the probable scenario per weekly technicals): CC give-up -$17,100, position total $-26,398 (+$5,102 vs today) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Every eligible strike x expiry in the 4-45 DTE band (3 expiries scanned, 30 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: 0.949 (IBKR) | Recovery@SS: +$30,927 (un-capped fortress gain if stock rallies to SS) | Do-nothing @ SS: $-9,862
| Strike | DTE | Expiry | Bid | Sell | Income/mo | Net/mo | Survival | POP (mid) | EV/mo | Cap Give-up @ CC-SS | %IC | Total P&L @ SS |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| $82 | 8d | 7 Aug 2026 | $0.85 | 19/20 | $6,056 | $6,086 | 74% | 80% | +$901 | -$22,695 | 40.0% | $-23,732 (vs do-nothing $-13,870) |
| $81.50 | 8d | 7 Aug 2026 | $0.95 | 17/20 | $6,056 | $6,146 | 71% | 79% | +$650 | -$20,986 | 36.9% | $-22,952 (vs do-nothing $-13,090) |
| $81 | 8d | 7 Aug 2026 | $1.15 | 14/20 | $6,038 | $6,218 | 68% | 77% | +$848 | -$17,702 | 31.2% | $-21,062 (vs do-nothing $-11,200) |
| $81.50 | 15d | 14 Aug 2026 | $1.60 | 19/20 | $6,080 | $6,110 | 66% | 76% | +$408 | -$22,220 | 39.1% | $-23,257 (vs do-nothing $-13,395) |
| $80.50 | 8d | 7 Aug 2026 | $1.30 | 13/20 | $6,338 | $6,548 | 65% | 76% | +$751 | -$16,893 | 29.7% | $-20,717 (vs do-nothing $-10,855) |
| $81 | 15d | 14 Aug 2026 | $1.65 | 19/20 | $6,270 | $6,300 | 64% | 74% | $-23 | -$23,075 | 40.6% | $-24,112 (vs do-nothing $-14,250) |
| $81 | 22d | 21 Aug 2026 | $2.35 | 19/20 | $6,089 | $6,119 | 62% | 73% | +$365 | -$21,745 | 38.3% | $-22,782 (vs do-nothing $-12,920) |
| $80.50 | 15d | 14 Aug 2026 | $2.05 | 15/20 | $6,150 | $6,300 | 62% | 74% | +$650 | -$18,367 | 32.3% | $-21,262 (vs do-nothing $-11,400) |
| $80 | 8d | 7 Aug 2026 | $1.50 | 11/20 | $6,188 | $6,458 | 62% | 73% | +$737 | -$14,624 | 25.7% | $-19,377 (vs do-nothing $-9,515) |
| $80.50 | 22d | 21 Aug 2026 | $2.55 | 18/20 | $6,259 | $6,319 | 61% | 72% | +$383 | -$21,140 | 37.2% | $-22,642 (vs do-nothing $-12,780) |
| $80 | 15d | 14 Aug 2026 | $2.10 | 15/20 | $6,300 | $6,450 | 59% | 72% | +$224 | -$19,042 | 33.5% | $-21,937 (vs do-nothing $-12,075) |
| $80 | 22d | 21 Aug 2026 | $2.80 | 16/20 | $6,109 | $6,229 | 59% | 71% | +$456 | -$19,191 | 33.8% | $-21,622 (vs do-nothing $-11,760) |
| $79.50 | 8d | 7 Aug 2026 | $1.70 | 10/20 | $6,375 | $6,675 | 58% | 71% | +$692 | -$13,595 | 23.9% | $-18,812 (vs do-nothing $-8,950) |
| Strike | DTE | Expiry | Bid | Sell | Income/mo | Net/mo | Survival | POP (mid) | EV/mo | Cap Give-up @ CC-SS | %IC | Total P&L @ SS |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| $79.50 | 15d | 14 Aug 2026 | $2.50 | 12/20 | $6,000 | $6,240 | 57% | 72% | +$644 | -$15,353 | 27.0% | $-19,642 (vs do-nothing $-9,780) |
| $79.50 | 22d | 21 Aug 2026 | $3.00 | 15/20 | $6,136 | $6,286 | 57% | 71% | +$410 | -$18,442 | 32.5% | $-21,337 (vs do-nothing $-11,475) |
| $79 | 8d | 7 Aug 2026 | $1.95 | 9/20 | $6,581 | $6,911 | 55% | 71% | +$745 | -$12,460 | 21.9% | $-18,142 (vs do-nothing $-8,280) |
| $79 | 15d | 14 Aug 2026 | $2.75 | 11/20 | $6,050 | $6,320 | 55% | 71% | +$652 | -$14,349 | 25.3% | $-19,102 (vs do-nothing $-9,240) |
| $79 | 22d | 21 Aug 2026 | $3.30 | 14/20 | $6,300 | $6,480 | 55% | 69% | +$533 | -$17,492 | 30.8% | $-20,852 (vs do-nothing $-10,990) |
| $78.50 | 22d | 21 Aug 2026 | $3.50 | 13/20 | $6,205 | $6,415 | 52% | 69% | +$436 | -$16,633 | 29.3% | $-20,457 (vs do-nothing $-10,595) |
| $78.50 | 15d | 14 Aug 2026 | $3.00 | 10/20 | $6,000 | $6,300 | 52% | 70% | +$619 | -$13,295 | 23.4% | $-18,512 (vs do-nothing $-8,650) |
| $78.50 | 8d | 7 Aug 2026 | $2.20 | 8/20 | $6,600 | $6,960 | 51% | 70% | +$711 | -$11,276 | 19.9% | $-17,422 (vs do-nothing $-7,560) |
| $78 | 22d | 21 Aug 2026 | $3.80 | 12/20 | $6,218 | $6,458 | 50% | 67% | +$491 | -$15,593 | 27.5% | $-19,882 (vs do-nothing $-10,020) |
| $78 | 15d | 14 Aug 2026 | $3.20 | 10/20 | $6,400 | $6,700 | 49% | 69% | +$527 | -$13,595 | 23.9% | $-18,812 (vs do-nothing $-8,950) |
| $77.50 | 22d | 21 Aug 2026 | $4.10 | 11/20 | $6,150 | $6,420 | 48% | 67% | +$513 | -$14,514 | 25.6% | $-19,267 (vs do-nothing $-9,405) |
| $78 | 8d | 7 Aug 2026 | $2.50 | 7/20 | $6,562 | $6,952 | 48% | 67% | +$743 | -$10,006 | 17.6% | $-16,617 (vs do-nothing $-6,755) |
| $77.50 | 15d | 14 Aug 2026 | $3.50 | 9/20 | $6,300 | $6,630 | 47% | 67% | +$540 | -$12,415 | 21.9% | $-18,097 (vs do-nothing $-8,235) |
| $77 | 22d | 21 Aug 2026 | $4.30 | 11/20 | $6,450 | $6,720 | 46% | 66% | +$406 | -$14,844 | 26.1% | $-19,597 (vs do-nothing $-9,735) |
| $77.50 | 8d | 7 Aug 2026 | $2.60 | 7/20 | $6,825 | $7,215 | 45% | 66% | +$286 | -$10,286 | 18.1% | $-16,897 (vs do-nothing $-7,035) |
| $77 | 15d | 14 Aug 2026 | $3.70 | 9/20 | $6,660 | $6,990 | 44% | 67% | +$398 | -$12,685 | 22.3% | $-18,367 (vs do-nothing $-8,505) |
| $77 | 8d | 7 Aug 2026 | $2.85 | 6/20 | $6,412 | $6,832 | 41% | 66% | +$145 | -$8,967 | 15.8% | $-16,042 (vs do-nothing $-6,180) |
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%). Survival, POP and touch use vol x 1.00 (raw implied: the VRP haircut is applied to the premium edge but NOT to risk, because understating the edge costs opportunity while understating breach odds costs capital; the risk-side haircut arms only from the graded ledger). 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 20 contracts at the conservative CC.