125 contracts (12,500 sh) | BE SS: $39.71 | CC-SS: $33.72 (banked floor $33.64) | IV: HIGH | Accounts: Main:1299
| Max Loss | $277,625 | (ND $2.21 + SW $20) x 12500 |
| Normal income ref | $45,268/mo | 95% ann ROI on ML |
| Hedge (static, never rolled) | $0/mo | HP expiry = SP LEAPS; decay ≈ $3,949/mo (info only, already in marks) |
| Unrealized P&L | $-104,188 | 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 🏆 | 31 Jul 2026 · 7d | 123 × $25.50 | 70% | $22,667 | $-14,982 |
| 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 | 125 × $31 | 7 Aug | 14d | 29.8% | 90% | 20% | +2pp | $3,000 | $6,429 | -$16,239 | $30,997 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Sell 125 × $31 29.8% OTM over spot $23.88 7 Aug 2026 (14d, $0.62 mid) = $3,000 credit for the 14d cycle → $6,429/mo projected Survival (stays ≤ $31) 90% Breach risk 10% POP (stays ≤ $31.62) 92% EV / mo +$1,569 📈 CAMPAIGN OUTLOOK (400 simulated futures, this rung on repeat for 9 months, no directional opinion) FIGHT'S EDGE +2pp 62% whole by 9mo vs 61% doing nothing FIRE DRILLS ~0.5/quarter challenges to roll; realized tends lower (calibration) BANKED RATE WHILE FIGHTING $4,258/mo median; plan ~$2,895/mo after 68% keep · $16,933 banked by campaign end (selling stops once whole) green: with FIGHT · grey: without if it recovers, the typical trip is ~1.5 mo [0.7-3.5], measured ONLY among the 62% 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) 16% Flat exit net (mid-life) -$31,738 Free roll-up none Safest escape (by 21 Aug 2026) $32 @ 71% POP 61% 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 7 of 14); earlier = worse credits, later = better, through the strike = add intrinsic Buyback gross: $3.93/sh now → $2.78 mid-life (likely $2.25–$3.72) → ≈ $0 at expiry | you banked $0.24/sh, so a flat mid-life exit nets -$2.54/sh | roll rows are incremental, the banked premium stays yours 📊 Across 469 simulated challenges: the $31 strike is typically first touched on day 9 of 14, at $32 (overshoots $1.02). 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 $33.72: 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 < $0.06/sh (~25% of the $0.24 collected) or spot ≥ $31.62 (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 $27.63 (daily upper band) or daily RSI > 70 → treat "pressing" as "through".
If held to expiryexact, settlement = intrinsic · fortress delta 0.84 (IBKR)
V-BOUNCE STRESS (stock → CC-SS $33.72, where you are whole again, by expiry) Starting unrealized P&L: $-104,188 + Fortress recovery (un-capped): +$103,205 − CC assignment net of premium (125 × $31): -$30,997 Total Position P&L @ SS: $-31,980 (+$72,208 vs today) Do-nothing baseline at SS: $-232 (this trade vs do-nothing: $-31,747, the opportunity cost of earning $6,429/mo FIGHT income now) BB-reversion stress (→ $34.80 Upper BB (CC ceiling), the probable scenario per weekly technicals): CC give-up -$44,500, position total $-34,154 (+$70,034 vs today) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| ▸ | 33% normal ← lean | 125 × $27 | 31 Jul | 7d | 13.1% | 83% | 36% | +6pp | $3,500 | $15,000 | -$7,667 | $80,497 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Sell 125 × $27 13.1% OTM over spot $23.88 31 Jul 2026 (7d, $0.47 mid) = $3,500 credit for the 7d cycle → $15,000/mo projected Survival (stays ≤ $27) 83% Breach risk 17% POP (stays ≤ $27.46) 85% EV / mo +$1,774 📈 CAMPAIGN OUTLOOK (400 simulated futures, this rung on repeat for 9 months, no directional opinion) FIGHT'S EDGE +6pp 59% whole by 9mo vs 53% doing nothing FIRE DRILLS ~2.0/quarter challenges to roll; realized tends lower (calibration) BANKED RATE WHILE FIGHTING $7,366/mo median; plan ~$5,009/mo after 68% keep · $35,215 banked by campaign end (selling stops once whole) green: with FIGHT · grey: without if it recovers, the typical trip is ~1.7 mo [0.9-3.2], measured ONLY among the 59% 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) 28% Flat exit net (mid-life) -$16,471 Free roll-up +$1/wk Safest escape (by 21 Aug 2026) $31 @ 78% POP 72% 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: $2.26/sh now → $1.60 mid-life (likely $1.57–$2.51) → ≈ $0 at expiry | you banked $0.28/sh, so a flat mid-life exit nets -$1.32/sh | roll rows are incremental, the banked premium stays yours 📊 Across 837 simulated challenges: the $27 strike is typically first touched on day 4 of 7, at $28 (overshoots $0.83). 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 ⚠ $27 is $7 below CC-SS $33.72: 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 < $0.07/sh (~25% of the $0.28 collected) or spot ≥ $27.46 (breakeven), whichever comes first. Time value = call mark price minus intrinsic (max(0, spot − $27)); NOT the premium you collected. Momentum override: two daily closes above $27.63 (daily upper band) or daily RSI > 70 → treat "pressing" as "through".
If held to expiryexact, settlement = intrinsic · fortress delta 0.84 (IBKR)
V-BOUNCE STRESS (stock → CC-SS $33.72, where you are whole again, by expiry) Starting unrealized P&L: $-104,188 + Fortress recovery (un-capped): +$103,205 − CC assignment net of premium (125 × $27): -$80,497 Total Position P&L @ SS: $-81,480 (+$22,708 vs today) Do-nothing baseline at SS: $-232 (this trade vs do-nothing: $-81,247, the opportunity cost of earning $15,000/mo FIGHT income now) BB-reversion stress (→ $34.80 Upper BB (CC ceiling), the probable scenario per weekly technicals): CC give-up -$94,000, position total $-83,654 (+$20,534 vs today) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| ▸ | 🎯 50% normal | 123 × $25.50 | 31 Jul | 7d | 6.8% | 70% | 49% | +6pp | $5,289 | $22,667 | — | $95,814 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Sell 123 × $25.50 6.8% OTM over spot $23.88 31 Jul 2026 (7d, $0.80 mid) = $5,289 credit for the 7d cycle → $22,667/mo projected Survival (stays ≤ $25.50) 70% Breach risk 30% POP (stays ≤ $26.30) 77% EV / mo $-6,130 📈 CAMPAIGN OUTLOOK (400 simulated futures, this rung on repeat for 9 months, no directional opinion) FIGHT'S EDGE +6pp 62% whole by 9mo vs 56% doing nothing FIRE DRILLS ~3.8/quarter challenges to roll; realized tends lower (calibration) BANKED RATE WHILE FIGHTING $8,734/mo median; plan ~$5,939/mo after 68% keep · $37,973 banked by campaign end (selling stops once whole) green: with FIGHT · grey: without if it recovers, the typical trip is ~1.6 mo [0.9-3.4], measured ONLY among the 62% 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) 49% Flat exit net (mid-life) -$12,737 Free roll-up +$1/wk Safest escape (by 21 Aug 2026) $30 @ 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: $2.07/sh now → $1.47 mid-life (likely $1.75–$2.62) → ≈ $0 at expiry | you banked $0.43/sh, so a flat mid-life exit nets -$1.04/sh | roll rows are incremental, the banked premium stays yours 📊 Across 1,462 simulated challenges: the $26 strike is typically first touched on day 3 of 7, at $26 (overshoots $0.82). 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 ⚠ $25.50 is $8 below CC-SS $33.72: 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 $0.43 collected) or spot ≥ $26.30 (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 $27.63 (daily upper band) or daily RSI > 70 → treat "pressing" as "through".
If held to expiryexact, settlement = intrinsic · fortress delta 0.84 (IBKR)
V-BOUNCE STRESS (stock → CC-SS $33.72, where you are whole again, by expiry) Starting unrealized P&L: $-104,188 + Fortress recovery (un-capped): +$103,205 − CC assignment net of premium (123 × $25.50): -$95,814 + Conservative CC premium (2 × $35): +$12 Total Position P&L @ SS: $-96,785 (+$7,403 vs today) Do-nothing baseline at SS: $-232 (this trade vs do-nothing: $-96,552, the opportunity cost of earning $22,667/mo FIGHT income now) BB-reversion stress (→ $34.80 Upper BB (CC ceiling), the probable scenario per weekly technicals): CC give-up -$109,101, position total $-98,743 (+$5,445 vs today) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| ▸ | 100% normal | 121 × $24.50 | 31 Jul | 7d | 2.6% | 60% | 85% | +14pp | $10,648 | $45,634 | +$22,967 | $100,912 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Sell 121 × $24.50 2.6% OTM over spot $23.88 31 Jul 2026 (7d, $1.15 mid) = $10,648 credit for the 7d cycle → $45,634/mo projected Survival (stays ≤ $24.50) 60% Breach risk 40% POP (stays ≤ $25.65) 72% EV / mo +$69 📈 CAMPAIGN OUTLOOK (400 simulated futures, this rung on repeat for 9 months, no directional opinion) FIGHT'S EDGE +14pp 64% whole by 9mo vs 51% doing nothing FIRE DRILLS ~6.2/quarter challenges to roll; realized tends lower (calibration) BANKED RATE WHILE FIGHTING $14,168/mo median; plan ~$9,634/mo after 68% keep · $53,999 banked by campaign end (selling stops once whole) green: with FIGHT · grey: without if it recovers, the typical trip is ~1.4 mo [0.7-3.0], measured ONLY among the 64% 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) 67% Flat exit net (mid-life) -$6,054 Free roll-up +$1/wk Safest escape (by 21 Aug 2026) $32 @ 88% POP 86% survival Roll menuyour doors if the call gets challenged; each row = buy back the 121 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: $1.95/sh now → $1.38 mid-life (likely $1.84–$2.65) → ≈ $0 at expiry | you banked $0.88/sh, so a flat mid-life exit nets -$0.50/sh | roll rows are incremental, the banked premium stays yours 📊 Across 2,012 simulated challenges: the $24 strike is typically first touched on day 2 of 7, at $25 (overshoots $0.85). 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 ⚠ $24.50 is $9 below CC-SS $33.72: 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 < $0.22/sh (~25% of the $0.88 collected) or spot ≥ $25.65 (breakeven), whichever comes first. Time value = call mark price minus intrinsic (max(0, spot − $24)); NOT the premium you collected. Momentum override: two daily closes above $27.63 (daily upper band) or daily RSI > 70 → treat "pressing" as "through".
If held to expiryexact, settlement = intrinsic · fortress delta 0.84 (IBKR)
V-BOUNCE STRESS (stock → CC-SS $33.72, where you are whole again, by expiry) Starting unrealized P&L: $-104,188 + Fortress recovery (un-capped): +$103,205 − CC assignment net of premium (121 × $24.50): -$100,912 + Conservative CC premium (4 × $35): +$24 Total Position P&L @ SS: $-101,870 (+$2,318 vs today) Do-nothing baseline at SS: $-232 (this trade vs do-nothing: $-101,638, the opportunity cost of earning $45,634/mo FIGHT income now) BB-reversion stress (→ $34.80 Upper BB (CC ceiling), the probable scenario per weekly technicals): CC give-up -$113,982, position total $-103,612 (+$576 vs today) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Every eligible strike x expiry in the 4-45 DTE band (4 expiries scanned, 19 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: 0.839 (IBKR) | Recovery@SS: +$103,205 (un-capped fortress gain if stock rallies to SS) | Do-nothing @ SS: $-232
| Strike | DTE | Expiry | Bid | Sell | Income/mo | Net/mo | Survival | POP (mid) | EV/mo | Cap Give-up @ CC-SS | %IC | Total P&L @ SS |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| $26.50 | 14d | 7 Aug 2026 | $0.94 | 113/125 | $22,761 | $22,864 | 72% | 79% | +$2,741 | -$70,962 | 256.9% | $-71,872 (vs do-nothing $-71,640) |
| $25.50 | 7d | 31 Jul 2026 | $0.43 | 123/125 | $22,667 | $22,684 | 70% | 77% | $-6,130 | -$95,814 | 346.8% | $-96,785 (vs do-nothing $-96,552) |
| $26 | 14d | 7 Aug 2026 | $1.08 | 98/125 | $22,680 | $22,911 | 69% | 77% | +$2,405 | -$65,070 | 235.5% | $-65,890 (vs do-nothing $-65,658) |
| $25.50 | 14d | 7 Aug 2026 | $1.23 | 86/125 | $22,667 | $23,001 | 66% | 75% | +$1,975 | -$60,112 | 217.6% | $-60,860 (vs do-nothing $-60,628) |
| $25 | 7d | 31 Jul 2026 | $0.46 | 115/125 | $22,671 | $22,757 | 65% | 74% | $-11,679 | -$94,988 | 343.8% | $-95,910 (vs do-nothing $-95,678) |
| $25.50 | 28d | 21 Aug 2026 | $1.83 | 116/125 | $22,744 | $22,821 | 65% | 75% | +$2,274 | -$74,122 | 268.3% | $-75,050 (vs do-nothing $-74,818) |
| $25 | 14d | 7 Aug 2026 | $1.40 | 76/125 | $22,800 | $23,220 | 63% | 74% | +$1,626 | -$55,630 | 201.4% | $-56,319 (vs do-nothing $-56,086) |
| $25 | 21d | 14 Aug 2026 | $1.55 | 103/125 | $22,807 | $22,996 | 62% | 73% | $-254 | -$73,849 | 267.3% | $-74,699 (vs do-nothing $-74,467) |
| $25 | 28d | 21 Aug 2026 | $1.95 | 109/125 | $22,773 | $22,910 | 62% | 73% | +$1,334 | -$73,791 | 267.1% | $-74,677 (vs do-nothing $-74,445) |
| $24.50 | 7d | 31 Jul 2026 | $0.88 | 61/125 | $23,006 | $23,554 | 60% | 72% | +$35 | -$50,873 | 184.2% | $-51,471 (vs do-nothing $-51,239) |
| $24.50 | 28d | 21 Aug 2026 | $2.09 | 102/125 | $22,841 | $23,038 | 59% | 72% | +$526 | -$72,724 | 263.3% | $-73,568 (vs do-nothing $-73,336) |
| $24.50 | 14d | 7 Aug 2026 | $1.65 | 65/125 | $22,982 | $23,496 | 59% | 73% | +$3,875 | -$49,204 | 178.1% | $-49,826 (vs do-nothing $-49,594) |
| $24 | 28d | 21 Aug 2026 | $2.30 | 92/125 | $22,671 | $22,954 | 56% | 71% | +$335 | -$68,262 | 247.1% | $-69,046 (vs do-nothing $-68,814) |
| Strike | DTE | Expiry | Bid | Sell | Income/mo | Net/mo | Survival | POP (mid) | EV/mo | Cap Give-up @ CC-SS | %IC | Total P&L @ SS |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| $24 | 21d | 14 Aug 2026 | $2.15 | 74/125 | $22,729 | $23,166 | 56% | 70% | +$1,757 | -$56,016 | 202.8% | $-56,693 (vs do-nothing $-56,460) |
| $24 | 14d | 7 Aug 2026 | $1.69 | 63/125 | $22,815 | $23,346 | 55% | 70% | $-395 | -$50,588 | 183.1% | $-51,198 (vs do-nothing $-50,966) |
| $24 | 7d | 31 Jul 2026 | $1.05 | 51/125 | $22,950 | $23,584 | 54% | 70% | $-960 | -$44,216 | 160.1% | $-44,754 (vs do-nothing $-44,522) |
| $23.50 | 28d | 21 Aug 2026 | $2.57 | 83/125 | $22,855 | $23,215 | 54% | 70% | +$545 | -$63,493 | 229.8% | $-64,223 (vs do-nothing $-63,991) |
| $23.50 | 14d | 7 Aug 2026 | $1.95 | 55/125 | $22,982 | $23,582 | 51% | 69% | $-148 | -$45,484 | 164.6% | $-46,046 (vs do-nothing $-45,814) |
| $23.50 | 7d | 31 Jul 2026 | $1.14 | 47/125 | $22,963 | $23,631 | 48% | 66% | $-4,117 | -$42,675 | 154.5% | $-43,189 (vs do-nothing $-42,957) |
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.