5 contracts (500 sh) | BE SS: $125.45 | CC-SS: $132.12 (banked floor $131.54) | IV: HIGH | Accounts: Neville:0865
| Max Loss | $50,225 | (ND $20.45 + SW $80) x 500 |
| Normal income ref | $5,050/mo | 95% ann ROI on ML |
| Hedge rolling cost | $588/mo | |
| Unrealized P&L | $-35,030 | fortress legs from IBKR |
| Open leg | Acct | Credit/sh | In flight | Opened |
|---|---|---|---|---|
| 5x $97C 7 Aug 2026 | U13190865 | $3.20 | $1,602 | 2026-07-22 |
Each Friday gets its own recommended pick and full income ladder (safest strike per income rung, sized across your 5 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 | 5 × $69 | 72% | $2,831 | $1,000 |
| Rung | Sell | Expiry | DTE | OTM | Survival | Touch odds | FIGHT edge | Per cycle | Income/mo | Δ vs pick | Cap give-up | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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| ▸ | cover hedge | 5 × $79 | 7 Aug | 8d | 24.2% | 91%hist 100% | 19%hist 5% | +1pp | $171 | $641 | -$2,190 | $26,390 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Sell 5 × $79 24.2% OTM over spot $63.60 7 Aug 2026 (8d, $0.36 mid) = $171 credit for the 8d cycle → $641/mo projected Survival (stays ≤ $79) 91% Breach risk 9% POP (stays ≤ $79.36) 91% EV / mo +$3 📈 CAMPAIGN OUTLOOK (400 simulated futures, this rung on repeat for 9 months, no directional opinion) FIGHT'S EDGE +1pp 25% whole by 9mo vs 24% doing nothing FIRE DRILLS ~1.3/quarter challenges to roll; realized tends lower (calibration) BANKED RATE WHILE FIGHTING $-212/mo median; plan ~$-144/mo after 68% keep · $-1,804 banked by campaign end (selling stops once whole) green: with FIGHT · grey: without if it recovers, the typical trip is ~3.6 mo [2.3-5.4], measured ONLY among the 25% 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) 13% Flat exit net (mid-life) -$1,344 Free roll-up +$5/wk Safest escape (by 21 Aug 2026) $90 @ 79% POP 75% survival Roll menuyour doors if the call gets challenged; each row = buy back the 5 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: $4.28/sh now → $3.03 mid-life (likely $2.53–$4.37) → ≈ $0 at expiry | you banked $0.34/sh, so a flat mid-life exit nets -$2.69/sh | roll rows are incremental, the banked premium stays yours 📊 Across 380 simulated challenges: the $79 strike is typically first touched on day 6 of 8, at $82 (overshoots $2.55). 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 -0.4 vol pt per +1% move (equity skew: vol eases as spot rises; buyback shift floored at 0). 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 is $53 below CC-SS $132.12: 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 < $0.09/sh (~25% of the $0.34 collected) or spot ≥ $79.36 (breakeven), whichever comes first. Time value = call mark price minus intrinsic (max(0, spot − $79)); NOT the premium you collected. Momentum override: two daily closes above $94.38 (daily upper band) or daily RSI > 70 → treat "pressing" as "through".
If held to expiryexact, settlement = intrinsic · fortress delta 0.98 (IBKR)
V-BOUNCE STRESS (stock → CC-SS $132.12, where you are whole again, by expiry) Starting unrealized P&L: $-35,030 + Fortress recovery (un-capped): +$33,542 − CC assignment net of premium (5 × $79): -$26,390 Total Position P&L @ SS: $-27,878 (+$7,152 vs today) Do-nothing baseline at SS: $-5,024 (this trade vs do-nothing: $-22,854, the opportunity cost of earning $641/mo FIGHT income now) BB-reversion stress (→ $95.75 20W MA (bounce target), the probable scenario per weekly technicals): CC give-up -$8,204, position total $-27,497 (+$7,533 vs today) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| ▸ | 33% normal | 5 × $72 | 7 Aug | 8d | 13.2% | 80%hist 96% | 42%hist 28% | +2pp | $500 | $1,875 | -$956 | $29,561 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Sell 5 × $72 13.2% OTM over spot $63.60 7 Aug 2026 (8d, $1.05 mid) = $500 credit for the 8d cycle → $1,875/mo projected Survival (stays ≤ $72) 80% Breach risk 20% POP (stays ≤ $73.05) 82% EV / mo +$44 📈 CAMPAIGN OUTLOOK (400 simulated futures, this rung on repeat for 9 months, no directional opinion) FIGHT'S EDGE +2pp 25% whole by 9mo vs 23% doing nothing FIRE DRILLS ~3.2/quarter challenges to roll; realized tends lower (calibration) BANKED RATE WHILE FIGHTING $220/mo median; plan ~$150/mo after 68% keep · $1,648 banked by campaign end (selling stops once whole) green: with FIGHT · grey: without if it recovers, the typical trip is ~3.1 mo [1.9-4.5], measured ONLY among the 25% 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) 33% Flat exit net (mid-life) -$881 Free roll-up +$6/wk Safest escape (by 21 Aug 2026) $87 @ 84% POP 82% survival Roll menuyour doors if the call gets challenged; each row = buy back the 5 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: $3.90/sh now → $2.76 mid-life (likely $2.81–$4.41) → ≈ $0 at expiry | you banked $1.00/sh, so a flat mid-life exit nets -$1.76/sh | roll rows are incremental, the banked premium stays yours 📊 Across 981 simulated challenges: the $72 strike is typically first touched on day 5 of 8, at $74 (overshoots $2.48). 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 -0.4 vol pt per +1% move (equity skew: vol eases as spot rises; buyback shift floored at 0). 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 ⚠ $72 is $60 below CC-SS $132.12: 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 < $0.25/sh (~25% of the $1.00 collected) or spot ≥ $73.05 (breakeven), whichever comes first. Time value = call mark price minus intrinsic (max(0, spot − $72)); NOT the premium you collected. Momentum override: two daily closes above $94.38 (daily upper band) or daily RSI > 70 → treat "pressing" as "through".
If held to expiryexact, settlement = intrinsic · fortress delta 0.98 (IBKR)
V-BOUNCE STRESS (stock → CC-SS $132.12, where you are whole again, by expiry) Starting unrealized P&L: $-35,030 + Fortress recovery (un-capped): +$33,542 − CC assignment net of premium (5 × $72): -$29,561 Total Position P&L @ SS: $-31,049 (+$3,981 vs today) Do-nothing baseline at SS: $-5,024 (this trade vs do-nothing: $-26,025, the opportunity cost of earning $1,875/mo FIGHT income now) BB-reversion stress (→ $95.75 20W MA (bounce target), the probable scenario per weekly technicals): CC give-up -$11,375, position total $-30,668 (+$4,362 vs today) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| ▸ | 🎯 50% normal | 5 × $69 | 7 Aug | 8d | 8.5% | 72%hist 96% | 60%hist 43% | +2pp | $755 | $2,831 | — | $30,806 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Sell 5 × $69 8.5% OTM over spot $63.60 7 Aug 2026 (8d, $1.62 mid) = $755 credit for the 8d cycle → $2,831/mo projected Survival (stays ≤ $69) 72% Breach risk 28% POP (stays ≤ $70.62) 76% EV / mo $-213 📈 CAMPAIGN OUTLOOK (400 simulated futures, this rung on repeat for 9 months, no directional opinion) FIGHT'S EDGE +2pp 29% whole by 9mo vs 27% doing nothing FIRE DRILLS ~5.0/quarter challenges to roll; realized tends lower (calibration) BANKED RATE WHILE FIGHTING $419/mo median; plan ~$285/mo after 68% keep · $2,834 banked by campaign end (selling stops once whole) green: with FIGHT · grey: without if it recovers, the typical trip is ~3.4 mo [2.2-5.5], measured ONLY among the 29% 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) 46% Flat exit net (mid-life) -$569 Free roll-up +$6/wk Safest escape (by 21 Aug 2026) $90 @ 89% POP 88% survival Roll menuyour doors if the call gets challenged; each row = buy back the 5 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: $3.74/sh now → $2.65 mid-life (likely $3.04–$4.58) → ≈ $0 at expiry | you banked $1.51/sh, so a flat mid-life exit nets -$1.14/sh | roll rows are incremental, the banked premium stays yours 📊 Across 1,384 simulated challenges: the $69 strike is typically first touched on day 4 of 8, at $71 (overshoots $2.43). 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 -0.4 vol pt per +1% move (equity skew: vol eases as spot rises; buyback shift floored at 0). 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 ⚠ $69 is $63 below CC-SS $132.12: 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 < $0.38/sh (~25% of the $1.51 collected) or spot ≥ $70.62 (breakeven), whichever comes first. Time value = call mark price minus intrinsic (max(0, spot − $69)); NOT the premium you collected. Momentum override: two daily closes above $94.38 (daily upper band) or daily RSI > 70 → treat "pressing" as "through".
If held to expiryexact, settlement = intrinsic · fortress delta 0.98 (IBKR)
V-BOUNCE STRESS (stock → CC-SS $132.12, where you are whole again, by expiry) Starting unrealized P&L: $-35,030 + Fortress recovery (un-capped): +$33,542 − CC assignment net of premium (5 × $69): -$30,806 Total Position P&L @ SS: $-32,294 (+$2,736 vs today) Do-nothing baseline at SS: $-5,024 (this trade vs do-nothing: $-27,270, the opportunity cost of earning $2,831/mo FIGHT income now) BB-reversion stress (→ $95.75 20W MA (bounce target), the probable scenario per weekly technicals): CC give-up -$12,620, position total $-31,913 (+$3,117 vs today) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| ▸ | 100% normal | 5 × $64 | 7 Aug | 8d | 0.6% | 55%hist 79% | 97%hist 90% | +5pp | $1,490 | $5,588 | +$2,756 | $32,571 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Sell 5 × $64 0.6% OTM over spot $63.60 7 Aug 2026 (8d, $3.14 mid) = $1,490 credit for the 8d cycle → $5,588/mo projected Survival (stays ≤ $64) 55% Breach risk 45% POP (stays ≤ $67.14) 66% EV / mo $-862 📈 CAMPAIGN OUTLOOK (400 simulated futures, this rung on repeat for 9 months, no directional opinion) FIGHT'S EDGE +5pp 34% whole by 9mo vs 29% doing nothing FIRE DRILLS ~12.6/quarter challenges to roll; realized tends lower (calibration) BANKED RATE WHILE FIGHTING $734/mo median; plan ~$499/mo after 68% keep · $5,408 banked by campaign end (selling stops once whole) green: with FIGHT · grey: without if it recovers, the typical trip is ~3.7 mo [2.0-5.6], measured ONLY among the 34% 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) 77% Flat exit net (mid-life) +$262 Free roll-up +$6/wk Safest escape (by 21 Aug 2026) $85 @ 90% POP 89% survival Roll menuyour doors if the call gets challenged; each row = buy back the 5 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: $3.47/sh now → $2.46 mid-life (likely $3.42–$4.99) → ≈ $0 at expiry | you banked $2.98/sh, so a flat mid-life exit nets +$0.52/sh | roll rows are incremental, the banked premium stays yours 📊 Across 2,302 simulated challenges: the $64 strike is typically first touched on day 2 of 8, at $67 (overshoots $2.78). 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 -0.4 vol pt per +1% move (equity skew: vol eases as spot rises; buyback shift floored at 0). 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 ⚠ $64 is $68 below CC-SS $132.12: 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 < $0.74/sh (~25% of the $2.98 collected) or spot ≥ $67.14 (breakeven), whichever comes first. Time value = call mark price minus intrinsic (max(0, spot − $64)); NOT the premium you collected. Momentum override: two daily closes above $94.38 (daily upper band) or daily RSI > 70 → treat "pressing" as "through".
If held to expiryexact, settlement = intrinsic · fortress delta 0.98 (IBKR)
V-BOUNCE STRESS (stock → CC-SS $132.12, where you are whole again, by expiry) Starting unrealized P&L: $-35,030 + Fortress recovery (un-capped): +$33,542 − CC assignment net of premium (5 × $64): -$32,571 Total Position P&L @ SS: $-34,059 (+$971 vs today) Do-nothing baseline at SS: $-5,024 (this trade vs do-nothing: $-29,035, the opportunity cost of earning $5,588/mo FIGHT income now) BB-reversion stress (→ $95.75 20W MA (bounce target), the probable scenario per weekly technicals): CC give-up -$14,385, position total $-33,678 (+$1,352 vs today) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Every eligible strike x expiry in the 4-45 DTE band (3 expiries scanned, 28 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: 0.979 (IBKR) | Recovery@SS: +$33,542 (un-capped fortress gain if stock rallies to SS) | Do-nothing @ SS: $-5,024
| Strike | DTE | Expiry | Bid | Sell | Income/mo | Net/mo | Survival | POP (mid) | EV/mo | Cap Give-up @ CC-SS | %IC | Total P&L @ SS |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| $71.50 | 15d | 14 Aug 2026 | $2.76 | 5/5 | $2,760 | $2,172 | 73% | 78% | +$351 | -$28,931 | 282.9% | $-30,419 (vs do-nothing $-25,395) |
| $71 | 15d | 14 Aug 2026 | $2.90 | 5/5 | $2,897 | $2,309 | 72% | 77% | +$361 | -$29,113 | 284.7% | $-30,601 (vs do-nothing $-25,576) |
| $69 | 8d | 7 Aug 2026 | $1.51 | 5/5 | $2,831 | $2,243 | 72% | 76% | $-213 | -$30,806 | 301.3% | $-32,294 (vs do-nothing $-27,270) |
| $68.50 | 8d | 7 Aug 2026 | $1.50 | 5/5 | $2,812 | $2,224 | 70% | 75% | $-489 | -$31,061 | 303.8% | $-32,549 (vs do-nothing $-27,525) |
| $70 | 15d | 14 Aug 2026 | $3.15 | 5/5 | $3,154 | $2,566 | 70% | 76% | +$346 | -$29,484 | 288.4% | $-30,972 (vs do-nothing $-25,948) |
| $68 | 8d | 7 Aug 2026 | $1.73 | 4/5 | $2,595 | $2,017 | 69% | 74% | $-265 | -$24,957 | 244.1% | $-27,152 (vs do-nothing $-22,128) |
| $70 | 22d | 21 Aug 2026 | $3.90 | 5/5 | $2,659 | $2,071 | 68% | 75% | +$60 | -$29,111 | 284.7% | $-30,599 (vs do-nothing $-25,575) |
| $69 | 15d | 14 Aug 2026 | $3.42 | 4/5 | $2,736 | $2,158 | 68% | 75% | +$253 | -$23,881 | 233.6% | $-26,076 (vs do-nothing $-21,052) |
| $69 | 22d | 21 Aug 2026 | $4.15 | 5/5 | $2,830 | $2,242 | 67% | 74% | +$12 | -$29,486 | 288.4% | $-30,974 (vs do-nothing $-25,950) |
| $68 | 15d | 14 Aug 2026 | $3.69 | 4/5 | $2,949 | $2,371 | 66% | 74% | +$209 | -$24,175 | 236.4% | $-26,370 (vs do-nothing $-21,346) |
| $67 | 8d | 7 Aug 2026 | $1.99 | 4/5 | $2,985 | $2,407 | 65% | 72% | $-357 | -$25,253 | 247.0% | $-27,448 (vs do-nothing $-22,424) |
| $68 | 22d | 21 Aug 2026 | $4.45 | 5/5 | $3,034 | $2,446 | 65% | 73% | $-17 | -$29,836 | 291.8% | $-31,324 (vs do-nothing $-26,300) |
| $67.50 | 22d | 21 Aug 2026 | $4.60 | 5/5 | $3,136 | $2,548 | 64% | 72% | $-38 | -$30,011 | 293.5% | $-31,499 (vs do-nothing $-26,475) |
| Strike | DTE | Expiry | Bid | Sell | Income/mo | Net/mo | Survival | POP (mid) | EV/mo | Cap Give-up @ CC-SS | %IC | Total P&L @ SS |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| $67 | 15d | 14 Aug 2026 | $3.97 | 4/5 | $3,177 | $2,599 | 63% | 72% | +$160 | -$24,461 | 239.2% | $-26,656 (vs do-nothing $-21,632) |
| $67 | 22d | 21 Aug 2026 | $4.80 | 4/5 | $2,618 | $2,040 | 63% | 72% | $-22 | -$24,129 | 236.0% | $-26,324 (vs do-nothing $-21,300) |
| $66 | 8d | 7 Aug 2026 | $2.26 | 3/5 | $2,542 | $1,974 | 62% | 70% | $-370 | -$19,159 | 187.4% | $-22,061 (vs do-nothing $-17,037) |
| $66 | 15d | 14 Aug 2026 | $4.30 | 3/5 | $2,582 | $2,014 | 61% | 71% | +$95 | -$18,546 | 181.4% | $-21,448 (vs do-nothing $-16,424) |
| $66 | 22d | 21 Aug 2026 | $5.10 | 4/5 | $2,782 | $2,204 | 61% | 71% | $-71 | -$24,409 | 238.7% | $-26,604 (vs do-nothing $-21,580) |
| $65 | 22d | 21 Aug 2026 | $5.45 | 4/5 | $2,973 | $2,395 | 59% | 69% | $-106 | -$24,669 | 241.3% | $-26,864 (vs do-nothing $-21,840) |
| $65 | 8d | 7 Aug 2026 | $2.63 | 3/5 | $2,959 | $2,391 | 58% | 68% | $-408 | -$19,348 | 189.2% | $-22,250 (vs do-nothing $-17,226) |
| $65 | 15d | 14 Aug 2026 | $4.65 | 3/5 | $2,790 | $2,222 | 58% | 69% | $-182 | -$18,742 | 183.3% | $-21,644 (vs do-nothing $-16,620) |
| $64 | 22d | 21 Aug 2026 | $5.95 | 4/5 | $3,245 | $2,667 | 57% | 68% | $-73 | -$24,869 | 243.2% | $-27,064 (vs do-nothing $-22,040) |
| $64 | 15d | 14 Aug 2026 | $5.05 | 3/5 | $3,030 | $2,462 | 56% | 68% | +$42 | -$18,922 | 185.1% | $-21,824 (vs do-nothing $-16,800) |
| $64 | 8d | 7 Aug 2026 | $2.98 | 3/5 | $3,352 | $2,784 | 55% | 66% | $-517 | -$19,543 | 191.1% | $-22,445 (vs do-nothing $-17,421) |
| $63 | 22d | 21 Aug 2026 | $6.25 | 3/5 | $2,557 | $1,989 | 55% | 67% | $-122 | -$18,862 | 184.5% | $-21,764 (vs do-nothing $-16,740) |
| $62.50 | 22d | 21 Aug 2026 | $6.45 | 3/5 | $2,639 | $2,071 | 53% | 67% | $-140 | -$18,952 | 185.3% | $-21,854 (vs do-nothing $-16,830) |
| $63 | 15d | 14 Aug 2026 | $5.40 | 3/5 | $3,240 | $2,672 | 53% | 67% | $-26 | -$19,117 | 187.0% | $-22,019 (vs do-nothing $-16,995) |
| $63 | 8d | 7 Aug 2026 | $3.35 | 3/5 | $3,769 | $3,201 | 51% | 64% | $-654 | -$19,732 | 193.0% | $-22,634 (vs do-nothing $-17,610) |
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 5 contracts at the conservative CC.