125 contracts (12,500 sh) | BE SS: $39.71 | CC-SS: $33.74 | IV: HIGH | Accounts: Main:1299
| Max Loss | $277,625 | (ND $2.21 + SW $20) x 12500 |
| Normal income ref | $47,143/mo | 95% ann ROI on ML |
| Hedge rolling cost | $4,286/mo | |
| Unrealized P&L | $-86,375 | fortress legs from IBKR |
Each Friday gets its own recommended pick and full income ladder (safest strike per income rung, sized across your 125 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 🏆 | 17 Jul 2026 · 7d | 123 × $28.50 | 79% | $23,721 | $-3,020 |
| Rung | Sell | Expiry | DTE | OTM | Survival | Touch odds | Per cycle | Income/mo | Δ vs pick | Cap give-up | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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| ▸ | cover hedge | 112 × $32.50 | 17 Jul | 7d | 26.8% | 95% | 11% | $1,008 | $4,320 | -$19,401 | $12,933 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Sell 112 × $32.50 26.8% OTM over spot $25.64 17 Jul 2026 (7d, $0.21 mid) = $1,008 credit for the 7d cycle → $4,320/mo projected Survival (stays ≤ $32.50) 95% Breach risk 5% POP (stays ≤ $32.71) 95% EV / mo +$1,649 📈 CAMPAIGN OUTLOOK (400 paths, sell-roll-repeat this rung for 9 mo) whole in 1.3 mo [0.6-3.0] median · 62% of paths whole by 9 mo (vs 59% without) · ~1.5 challenges expected · median CC cash $-5,754 🛡 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) 6% Flat exit net (mid-life) -$20,796 Free roll-up +$0/wk Safest escape (by 31 Jul 2026) $35 @ 73% POP 66% survival Roll menuyour doors if the call gets challenged; each row = buy back the 112 calls + sell the new ones, one order. Prices assume the central case (day 3 of 7); earlier = worse credits, later = better, through the strike = add intrinsic Buyback gross: $2.75/sh now → $1.95 mid-life (likely $1.37–$2.74) → ≈ $0 at expiry | you banked $0.09/sh, so a flat mid-life exit nets -$1.86/sh | roll rows are incremental, the banked premium stays yours 📊 Across 171 simulated challenges: the $32 strike is typically first touched on day 5 of 7, at $33 (overshoots $0.99). 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 ⚠ $32.50 is $1 below CC-SS $33.74: 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 < $0.02/sh (~25% of the $0.09 collected) or spot ≥ $32.71 (breakeven), whichever comes first. Time value = call mark price minus intrinsic (max(0, spot − $32)); NOT the premium you collected. Momentum override: two daily closes above $35.72 (daily upper band) or daily RSI > 70 → treat "pressing" as "through".
If held to expiryexact, settlement = intrinsic · fortress delta 0.85 (IBKR)
V-BOUNCE STRESS (stock → CC-SS $33.74, where you are whole again, by expiry) Starting unrealized P&L: $-86,375 + Fortress recovery (un-capped): +$86,214 − CC assignment net of premium (112 × $32.50): -$12,933 + Conservative CC premium (13 × $40): +$13 Total Position P&L @ SS: $-13,081 (+$73,294 vs today) Do-nothing baseline at SS: $-36 (this trade vs do-nothing: $-13,045, the opportunity cost of earning $4,320/mo FIGHT income now) BB-reversion stress (→ $34.99 Upper BB (CC ceiling), the probable scenario per weekly technicals): CC give-up -$26,880, position total $-13,781 (+$72,594 vs today) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| ▸ | 🛡 safe yield | 125 × $31 | 17 Jul | 7d | 20.9% | 91% | 19% | $2,000 | $8,571 | -$15,150 | $32,309 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Sell 125 × $31 20.9% OTM over spot $25.64 17 Jul 2026 (7d, $0.22 mid) = $2,000 credit for the 7d cycle → $8,571/mo projected Survival (stays ≤ $31) 91% Breach risk 9% POP (stays ≤ $31.22) 91% EV / mo +$2,371 📈 CAMPAIGN OUTLOOK (400 paths, sell-roll-repeat this rung for 9 mo) whole in 1.2 mo [0.5-2.6] median · 62% of paths whole by 9 mo (vs 58% without) · ~2.7 challenges expected · median CC cash $1,294 🛡 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) 11% Flat exit net (mid-life) -$20,633 Free roll-up +$0/wk Safest escape (by 31 Jul 2026) $34 @ 75% POP 68% survival Roll menuyour doors if the call gets challenged; each row = buy back the 125 calls + sell the new ones, one order. Prices assume the central case (day 3 of 7); earlier = worse credits, later = better, through the strike = add intrinsic Buyback gross: $2.56/sh now → $1.81 mid-life (likely $1.60–$2.78) → ≈ $0 at expiry | you banked $0.16/sh, so a flat mid-life exit nets -$1.65/sh | roll rows are incremental, the banked premium stays yours 📊 Across 330 simulated challenges: the $31 strike is typically first touched on day 5 of 7, at $32 (overshoots $1.07). 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 ⚠ $31 is $3 below CC-SS $33.74: 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 < $0.04/sh (~25% of the $0.16 collected) or spot ≥ $31.22 (breakeven), whichever comes first. Time value = call mark price minus intrinsic (max(0, spot − $31)); NOT the premium you collected. Momentum override: two daily closes above $35.72 (daily upper band) or daily RSI > 70 → treat "pressing" as "through".
If held to expiryexact, settlement = intrinsic · fortress delta 0.85 (IBKR)
V-BOUNCE STRESS (stock → CC-SS $33.74, where you are whole again, by expiry) Starting unrealized P&L: $-86,375 + Fortress recovery (un-capped): +$86,214 − CC assignment net of premium (125 × $31): -$32,309 Total Position P&L @ SS: $-32,470 (+$53,905 vs today) Do-nothing baseline at SS: $-36 (this trade vs do-nothing: $-32,434, the opportunity cost of earning $8,571/mo FIGHT income now) BB-reversion stress (→ $34.99 Upper BB (CC ceiling), the probable scenario per weekly technicals): CC give-up -$47,875, position total $-34,789 (+$51,586 vs today) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| ▸ | 33% normal ← lean | 114 × $29.50 | 17 Jul | 7d | 15.1% | 85% | 31% | $3,648 | $15,634 | -$8,087 | $44,742 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Sell 114 × $29.50 15.1% OTM over spot $25.64 17 Jul 2026 (7d, $0.40 mid) = $3,648 credit for the 7d cycle → $15,634/mo projected Survival (stays ≤ $29.50) 85% Breach risk 15% POP (stays ≤ $29.89) 87% EV / mo +$5,439 📈 CAMPAIGN OUTLOOK (400 paths, sell-roll-repeat this rung for 9 mo) whole in 1.2 mo [0.6-2.8] median · 63% of paths whole by 9 mo (vs 57% without) · ~4.5 challenges expected · median CC cash $9,542 🛡 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) 21% Flat exit net (mid-life) -$15,491 Free roll-up +$0/wk Safest escape (by 31 Jul 2026) $32 @ 75% POP 69% survival Roll menuyour doors if the call gets challenged; each row = buy back the 114 calls + sell the new ones, one order. Prices assume the central case (day 3 of 7); earlier = worse credits, later = better, through the strike = add intrinsic Buyback gross: $2.37/sh now → $1.68 mid-life (likely $1.61–$2.58) → ≈ $0 at expiry | you banked $0.32/sh, so a flat mid-life exit nets -$1.36/sh | roll rows are incremental, the banked premium stays yours 📊 Across 634 simulated challenges: the $30 strike is typically first touched on day 4 of 7, at $30 (overshoots $0.92). 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 ⚠ $29.50 is $4 below CC-SS $33.74: 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 < $0.08/sh (~25% of the $0.32 collected) or spot ≥ $29.89 (breakeven), whichever comes first. Time value = call mark price minus intrinsic (max(0, spot − $30)); NOT the premium you collected. Momentum override: two daily closes above $35.72 (daily upper band) or daily RSI > 70 → treat "pressing" as "through".
If held to expiryexact, settlement = intrinsic · fortress delta 0.85 (IBKR)
V-BOUNCE STRESS (stock → CC-SS $33.74, where you are whole again, by expiry) Starting unrealized P&L: $-86,375 + Fortress recovery (un-capped): +$86,214 − CC assignment net of premium (114 × $29.50): -$44,742 + Conservative CC premium (11 × $40): +$11 Total Position P&L @ SS: $-44,892 (+$41,483 vs today) Do-nothing baseline at SS: $-36 (this trade vs do-nothing: $-44,856, the opportunity cost of earning $15,634/mo FIGHT income now) BB-reversion stress (→ $34.99 Upper BB (CC ceiling), the probable scenario per weekly technicals): CC give-up -$58,938, position total $-45,841 (+$40,534 vs today) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| ▸ | 🎯 50% normal | 123 × $28.50 | 17 Jul | 7d | 11.2% | 79% | 32% | $5,535 | $23,721 | — | $58,975 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Sell 123 × $28.50 11.2% OTM over spot $25.64 17 Jul 2026 (7d, $0.58 mid) = $5,535 credit for the 7d cycle → $23,721/mo projected Survival (stays ≤ $28.50) 79% Breach risk 21% POP (stays ≤ $29.08) 82% EV / mo +$3,910 📈 CAMPAIGN OUTLOOK (400 paths, sell-roll-repeat this rung for 9 mo) whole in 1.0 mo [0.5-2.4] median, 0.1 mo faster than no FIGHT (1.1 mo) · 69% of paths whole by 9 mo (vs 62% without) · ~6.2 challenges expected · median CC cash $15,597 🛡 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) -$14,066 Free roll-up +$0/wk Safest escape (by 31 Jul 2026) $33 @ 80% POP 76% survival Roll menuyour doors if the call gets challenged; each row = buy back the 123 calls + sell the new ones, one order. Prices assume the central case (day 3 of 7); earlier = worse credits, later = better, through the strike = add intrinsic Buyback gross: $2.25/sh now → $1.59 mid-life (likely $1.59–$2.55) → ≈ $0 at expiry | you banked $0.45/sh, so a flat mid-life exit nets -$1.14/sh | roll rows are incremental, the banked premium stays yours 📊 Across 955 simulated challenges: the $28 strike is typically first touched on day 4 of 7, at $29 (overshoots $0.86). 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 ⚠ $28.50 is $5 below CC-SS $33.74: 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 < $0.11/sh (~25% of the $0.45 collected) or spot ≥ $29.08 (breakeven), whichever comes first. Time value = call mark price minus intrinsic (max(0, spot − $28)); NOT the premium you collected. Momentum override: two daily closes above $35.72 (daily upper band) or daily RSI > 70 → treat "pressing" as "through".
If held to expiryexact, settlement = intrinsic · fortress delta 0.85 (IBKR)
V-BOUNCE STRESS (stock → CC-SS $33.74, where you are whole again, by expiry) Starting unrealized P&L: $-86,375 + Fortress recovery (un-capped): +$86,214 − CC assignment net of premium (123 × $28.50): -$58,975 + Conservative CC premium (2 × $40): +$2 Total Position P&L @ SS: $-59,134 (+$27,241 vs today) Do-nothing baseline at SS: $-36 (this trade vs do-nothing: $-59,098, the opportunity cost of earning $23,721/mo FIGHT income now) BB-reversion stress (→ $34.99 Upper BB (CC ceiling), the probable scenario per weekly technicals): CC give-up -$74,292, position total $-61,204 (+$25,171 vs today) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| ▸ | 100% normal | 95 × $26 | 17 Jul | 7d | 1.4% | 57% | 92% | $11,115 | $47,636 | +$23,914 | $62,460 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Sell 95 × $26 1.4% OTM over spot $25.64 17 Jul 2026 (7d, $1.44 mid) = $11,115 credit for the 7d cycle → $47,636/mo projected Survival (stays ≤ $26) 57% Breach risk 43% POP (stays ≤ $27.44) 71% EV / mo +$3,472 📈 CAMPAIGN OUTLOOK (400 paths, sell-roll-repeat this rung for 9 mo) whole in 1.0 mo [0.5-2.3] median, 0.1 mo faster than no FIGHT (1.1 mo) · 70% of paths whole by 9 mo (vs 58% without) · ~19.1 challenges expected · median CC cash $20,229 🛡 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) 73% Flat exit net (mid-life) -$2,080 Free roll-up +$0/wk Safest escape (by 31 Jul 2026) $34 @ 90% POP 89% survival Roll menuyour doors if the call gets challenged; each row = buy back the 95 calls + sell the new ones, one order. Prices assume the central case (day 3 of 7); earlier = worse credits, later = better, through the strike = add intrinsic Buyback gross: $1.96/sh now → $1.39 mid-life (likely $1.91–$2.81) → ≈ $0 at expiry | you banked $1.17/sh, so a flat mid-life exit nets -$0.22/sh | roll rows are incremental, the banked premium stays yours 📊 Across 2,179 simulated challenges: the $26 strike is typically first touched on day 2 of 7, at $27 (overshoots $0.96). 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 ⚠ $26 is $8 below CC-SS $33.74: 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 < $0.29/sh (~25% of the $1.17 collected) or spot ≥ $27.44 (breakeven), whichever comes first. Time value = call mark price minus intrinsic (max(0, spot − $26)); NOT the premium you collected. Momentum override: two daily closes above $35.72 (daily upper band) or daily RSI > 70 → treat "pressing" as "through".
If held to expiryexact, settlement = intrinsic · fortress delta 0.85 (IBKR)
V-BOUNCE STRESS (stock → CC-SS $33.74, where you are whole again, by expiry) Starting unrealized P&L: $-86,375 + Fortress recovery (un-capped): +$86,214 − CC assignment net of premium (95 × $26): -$62,460 + Conservative CC premium (30 × $40): +$30 Total Position P&L @ SS: $-62,591 (+$23,784 vs today) Do-nothing baseline at SS: $-36 (this trade vs do-nothing: $-62,555, the opportunity cost of earning $47,636/mo FIGHT income now) BB-reversion stress (→ $34.99 Upper BB (CC ceiling), the probable scenario per weekly technicals): CC give-up -$74,290, position total $-61,174 (+$25,201 vs today) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Every eligible strike x expiry in the 4-45 DTE band (3 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: 0.851 (IBKR) | Recovery@SS: +$86,214 (un-capped fortress gain if stock rallies to SS) | Do-nothing @ SS: $-36
| Strike | DTE | Expiry | Bid | Sell | Income/mo | Net/mo | Survival | POP (mid) | EV/mo | Cap Give-up @ CC-SS | %IC | Total P&L @ SS |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| $28.50 | 7d | 17 Jul 2026 | $0.45 | 123/125 | $23,721 | $19,440 | 79% | 82% | +$3,910 | -$58,975 | 213.5% | $-59,134 (vs do-nothing $-59,098) |
| $28 | 7d | 17 Jul 2026 | $0.58 | 95/125 | $23,614 | $19,393 | 75% | 80% | +$4,464 | -$49,065 | 177.6% | $-49,196 (vs do-nothing $-49,160) |
| $28.50 | 14d | 24 Jul 2026 | $0.89 | 124/125 | $23,649 | $19,365 | 74% | 80% | +$4,800 | -$53,998 | 195.5% | $-54,159 (vs do-nothing $-54,122) |
| $27.50 | 7d | 17 Jul 2026 | $0.71 | 78/125 | $23,734 | $19,549 | 71% | 77% | +$4,162 | -$43,171 | 156.3% | $-43,285 (vs do-nothing $-43,249) |
| $28 | 21d | 31 Jul 2026 | $1.43 | 116/125 | $23,697 | $19,431 | 68% | 77% | +$2,540 | -$50,051 | 181.2% | $-50,203 (vs do-nothing $-50,167) |
| $27.50 | 14d | 24 Jul 2026 | $1.05 | 105/125 | $23,625 | $19,382 | 68% | 77% | +$1,588 | -$54,544 | 197.4% | $-54,686 (vs do-nothing $-54,649) |
| $27 | 7d | 17 Jul 2026 | $0.84 | 66/125 | $23,760 | $19,601 | 67% | 75% | +$3,272 | -$38,971 | 141.1% | $-39,073 (vs do-nothing $-39,037) |
| $27.50 | 21d | 31 Jul 2026 | $1.59 | 104/125 | $23,623 | $19,382 | 66% | 76% | +$2,290 | -$48,409 | 175.2% | $-48,549 (vs do-nothing $-48,513) |
| $27 | 14d | 24 Jul 2026 | $1.35 | 82/125 | $23,721 | $19,528 | 64% | 75% | +$3,630 | -$44,237 | 160.1% | $-44,355 (vs do-nothing $-44,319) |
| $27 | 21d | 31 Jul 2026 | $1.79 | 93/125 | $23,781 | $19,564 | 63% | 73% | +$2,381 | -$46,079 | 166.8% | $-46,208 (vs do-nothing $-46,172) |
| $26.50 | 14d | 24 Jul 2026 | $1.47 | 75/125 | $23,625 | $19,446 | 61% | 73% | +$2,272 | -$43,310 | 156.8% | $-43,422 (vs do-nothing $-43,385) |
| $26.50 | 21d | 31 Jul 2026 | $2.00 | 83/125 | $23,714 | $19,519 | 60% | 73% | +$2,346 | -$43,531 | 157.6% | $-43,650 (vs do-nothing $-43,614) |
| $26 | 21d | 31 Jul 2026 | $2.24 | 74/125 | $23,680 | $19,504 | 57% | 72% | +$2,423 | -$40,735 | 147.5% | $-40,845 (vs do-nothing $-40,809) |
| Strike | DTE | Expiry | Bid | Sell | Income/mo | Net/mo | Survival | POP (mid) | EV/mo | Cap Give-up @ CC-SS | %IC | Total P&L @ SS |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| $26 | 14d | 24 Jul 2026 | $1.69 | 66/125 | $23,901 | $19,742 | 57% | 72% | +$2,173 | -$39,961 | 144.7% | $-40,063 (vs do-nothing $-40,027) |
| $26 | 7d | 17 Jul 2026 | $1.17 | 48/125 | $24,069 | $19,948 | 57% | 71% | +$1,755 | -$31,559 | 114.2% | $-31,643 (vs do-nothing $-31,607) |
| $25.50 | 21d | 31 Jul 2026 | $2.39 | 70/125 | $23,900 | $19,732 | 54% | 71% | +$1,527 | -$40,983 | 148.4% | $-41,089 (vs do-nothing $-41,053) |
| $25.50 | 14d | 24 Jul 2026 | $1.90 | 58/125 | $23,614 | $19,472 | 53% | 71% | +$1,648 | -$36,799 | 133.2% | $-36,894 (vs do-nothing $-36,857) |
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 125 contracts at the conservative CC.