FORTRESS FIGHT: MARA-STK-1299 @ $6.74

BE SS: $14.75  |  CC-SS: $14.76  |  100 contracts (10,000 sh) |  ⌂ PORTFOLIO

GENERATED2026-10-31 03:19

MARA-STK-1299 @ $6.74   UNDERWATER $8.01 (54.3% below BE SS)

⚠ EARNINGS · DO NOT SELL INCOME INTO IT
MARA reports 2026-11-04 (Wed), in 5 days. The recommended CC (7d) expires on/after it, so selling now holds a short call through the earnings gap, a report can blow past your strike overnight and cap you at a loss. No priced expiry closes before the print, so waiting for it is the only clean option.

100 contracts (10,000 sh)  |  BE SS: $14.75  |  CC-SS: $14.76  |  IV: HIGH  |  Accounts: Main:1299

LC: $0 exp 2099-12-31 (entry $14.752/sh)

Economics

Max Loss$147,500(ND $14.75 + SW $0) x 10000
Normal income ref$10,500/mo95% ann ROI on ML
Hedge rolling cost$0/mo
Unrealized P&L$-80,200fortress legs from IBKR
INCOME GOALPOSTS & VELOCITY
50% INCOME FLOOR
$5,250/mo
HEDGE COVER
$0/mo
NORMAL INCOME
$10,500/mo (ATM CC, chain)
IC VELOCITY
14.0 mo to earn back $147,500
ML VELOCITY
14.0 mo to earn back $147,500
Deep drawdown confirmed: a CC at CC-SS $14.76 (probe: $14C 14d) brings only $214/mo (<20% of normal), so FIGHT below it is warranted.
๐Ÿฆ Campaign ledger: seeded, nothing tracked yet. Open short calls and banked credits appear here from the next cycle on; the banked-floor (info) shows how far premium would ratchet the floor, but the recommended CC-SS stays the pure recovery strike.
TECHNICALS (cc_timing weekly gate + daily trigger)
WEEKLYOVERSOLD ยท %B -0 (live) ยท RSI 35 ยท MACD bearish, hist falling
DAILYFALLING (provisional) ยท RSI 28 ยท %B 23 ยท hist rising (nightly)
LEVELS20W MA (bounce target) $11.02 (+64%) ยท daily UBB $10.68 ยท 1-wk expected move ยฑ$1 (chain IV)
SETUPSpring loaded, not ignited: ๐ŸŽฏ or ๐Ÿ’Ž at short DTE, normal tripwires. (advisory; floors and picks are chain-only)
โš  Next earnings 2026-11-04: candidates whose expiry crosses it are flagged in the spectrum; EV is unreliable across earnings.
INTERPRETATION
Primary: 100 contracts at $7.50 / 7d. This is the safest strike (survival 77%, breach 23%) that still earns 50% of normal income ($5,250/mo); it brings $6,857/mo. The engine maximizes the odds the pullback never reaches your strike, rather than chasing the fattest near-ATM premium.
More income, less safety: the ladder tops out at 100 ร— $7/7d for $12,857/mo, but breach risk rises to 37% (+15pp vs the primary). The lower strike is hit by a smaller bounce.
More safety, less income: for just the hedge you can sit at 100 ร— $17/21d (99% survival, $143/mo).
Downside anchor: the primary mortgages $71,000 (48% of IC) ONLY on a full V-bounce all the way to SS $15, recoverable in 6.8 months of normal income. That is the rare tail; the frequent case is the strike holding. Surgical close on the 100 contracts realizes $-80,250 and cuts bleed by $0/mo.

📅 Two weekly tracks, this Friday & next Friday

Each Friday gets its own recommended pick and full income ladder (safest strike per income rung, sized across your 100 contracts). The master ranks the two by E[net]/mo to pick one grand pick; both are shown here so you can choose the tenor that fits your roll cadence.

🏆 Grand pick: NEXT FRIDAY · 6 Nov 2026 (7d) · sell 100 × $7.50, 77% survival, $6,857/mo (E[net] $1,195/mo). ⏸ WAIT: every listed weekly is open through the next earnings print, so nothing here is a sell-now suggestion; sell after the print.
This week's Friday is inside the pin/gamma window, so only the next weekly is shown.
TrackExpirySellSurvivalIncome/moE[net]/mo
NEXT FRIDAY 🏆 ⚡6 Nov 2026 · 7d100 × $7.5077%$6,857$1,195
E[net] arithmetic on the grand pick: keep $1,600 with probability 66%; on the 34% touch you roll, paying $3,595 to close and taking $1,358 back from the best priced door (net cash $2,237) and parking about one cycle of income. Charging the FULL buyback with no door credit (the pre-2026-07-25 model) contradicted the campaign simulation, which prices the same event as a cash-neutral even roll.

📅 NEXT FRIDAY · 6 Nov 2026 · 7d · E[net] $1,195/mo 🏆 GRAND PICK

๐ŸŽฏ Engine pick: sell 100 ร— $7.50 (50% normal), 77% survival, breach 23%, $6,857/mo.
โš–๏ธ Worth a safer step: the $9 rung (๐Ÿ›ก safe yield) lifts survival to 92% (breach 23% โ†’ 8%) for $5,143/mo less (75% income), and it still covers your hedge. The pick sits below the ~80% (โ‰ˆ1ฯƒ) comfort line; on a drawdown you are nursing back, dodging the frequent breach usually beats the extra premium. Lean: the safer $9 rung, unless you need the income to cover the hedge bleed, or you expect MARA to stay flat-to-down near term.
MARA  spot $6.74 · click a rung to expand its decision panel
RungSellExpiryDTEOTMSurvivalTouch oddsFIGHT edgePer cycleIncome/moΔ vs pickCap give-up
▸๐Ÿ›ก safe yield ← lean100 × $913 Nov14d33.5%92%hist 95%18%hist 13%+2pp$800$1,714-$5,143$56,800
Sell 100 ร— $9 33.5% OTM over spot $6.74 13 Nov 2026 (14d, $0.09 mid)
= $800 credit for the 14d cycle โ†’ $1,714/mo projected
Survival (stays โ‰ค $9)
92%
Breach risk
8%
POP (stays โ‰ค $9.09)
92%
EV / mo
+$726
๐Ÿ“ˆ CAMPAIGN OUTLOOK (400 simulated futures, this rung on repeat for 9 months, no directional opinion)
FIGHT'S EDGE
+2pp
29% whole by 9mo vs 26% doing nothing
FIRE DRILLS
~0.8/quarter
challenges to roll; realized tends lower (calibration)
BANKED RATE WHILE FIGHTING
$988/mo
median; plan ~$672/mo after 68% keep · $7,711 banked by campaign end (selling stops once whole)
green: with FIGHT · grey: without
if it recovers, the typical trip is ~3.6 mo [2.2-5.8], measured ONLY among the 29% of futures that got whole
๐Ÿ›ก IF CHALLENGED (spot reaches the strike) ยท challenge = the strike is touched at any point, so it runs ~2x the breach risk (finishing through it)
Challenge odds (touch by expiry)
14%
Flat exit net (mid-life)
-$5,784
Free roll-up
+$0/wk
Safest escape (by 27 Nov 2026)
$10 @ 78% POP
72% survival
Roll menuyour doors if the call gets challenged; each row = buy back the 100 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: $0.93/sh now โ†’ $0.66 mid-life (likely $0.53โ€“$0.86) โ†’ โ‰ˆ $0 at expiry  |  you banked $0.08/sh, so a flat mid-life exit nets -$0.58/sh  |  roll rows are incremental, the banked premium stays yours
๐Ÿ“Š Across 409 simulated challenges: the $9 strike is typically first touched on day 9 of 14, at $9 (overshoots $0.32). The [P25โ€“P75] under each Total is that door's credit across those paths; % credit is the share of those challenges where the roll is a net credit.
MoveNew strike โ‰ˆNew expiryTenorEst netTotal (100 ct)POP / surv
of new CC
If rolled & exited
total P&L · cap gain @ new strike
Up-and-out for even (raise the cap, free)~$920 Nov 202614d left+$0.13/sh+$1,307
cycle +$2,107
[+$1,160โ€ฆ+$2,212] ยท 100% credit
71%
surv 59%
-$52,893 NOT
cap gain +$27,307
Roll out (same strike, buy time)~$920 Nov 202614d left+$0.11/sh+$1,057
cycle +$1,857
[+$751โ€ฆ+$2,136] ยท 96% credit
67%
surv 55%
-$55,743 NOT
cap gain +$24,457
Max even-money escape in the band~$1027 Nov 202621d left+$0.09/sh+$923
cycle +$1,723
[+$616โ€ฆ+$2,141] ยท 95% credit
75%
surv 66%
-$48,277 NOT
cap gain +$31,923
SS $15 not reachable for even money within 45d; this is the ceiling of the free ladder
Safety roll (pay small debit, max POP)~$1027 Nov 202621d left-$0.06/sh-$557
cycle +$243
[-$1,047โ€ฆ+$554] ยท 37% credit
78%
surv 72%
-$44,757 NOT
cap gain +$35,443
budget: banked $800 debit $557 (70% used โ‰ˆ 1.4 wk of income) โ†’ whole cycle still +$243 cash ยท rolled 100 ct earn โ‰ˆ $8,610/mo while parked; 0 ct free to re-sell
If rolled & exited = your total from-entry P&L if you roll to that strike and then close the whole fortress with the stock pinned there (all legs repriced; SAFE = P&L โ‰ฅ 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 โ‰ค strike + premium collected, the call is profitable); surv = P(stays โ‰ค 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) ร— a Black-Scholes ratio to the challenge, using the leg's own IV shifted +0.5 vol pt per +1% move (spike-vol name: vol expands on a fast move, richer buyback). Estimates, not quotes; the live roll table owns the real decision when a CC is actually threatened.
More detail, income coverage, downside budget, tripwires, held-to-expiry ladder, V-bounce stress
Income coverage
Gross FIGHT income$1,714/mo
vs 50% target ($5,250/mo)-67%
vs normal income ($10,500/mo)16% covered
Net income (after hedge)$1,714/mo
Downside budget
⚠ $9 is $6 below CC-SS $14.76: assignment on a recovery to whole locks the cap give-up below.
Cap give-up @ CC-SS (V-bounce)-$56,800
โ€ฆ as % of IC ($147,500)38.5%
โ€ฆ as % of ML ($147,500)38.5%
Recovery months (at normal income)5.4 mo
Surgical close (100 ct)$-80,300
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 $0.08 collected) or spot โ‰ฅ $9.09 (breakeven), whichever comes first. Time value = call mark price minus intrinsic (max(0, spot โˆ’ $9)); NOT the premium you collected. Momentum override: two daily closes above $10.68 (daily upper band) or daily RSI > 70 โ†’ treat "pressing" as "through".
Spot \ Timeโ‰ฅ 8d left3-7d leftโ‰ค 2d (expiry)
Below $8.91Do nothing. Theta wins.Do nothing.Penny buyback at the close; re-sell next cycle.
Pressing the strike
$9-9.09
Hold, alert at breakeven. Rolling into a spike pays top dollar; let theta bleed the buyback first.โ˜… Roll on strength NOW: cheap buyback, fat credits.Close or roll same day; pin risk at the strike.
Through breakeven
โ‰ฅ $9.09
Act now: intrinsic compounds daily. Up-and-out or safety roll.Roll or close immediately; time value is gone.Close today, or be assigned.
If held to expiryexact, settlement = intrinsic  ยท  fortress delta 1.00 (IBKR)
ScenarioSpotCC leg netPosition totalvs todayvs do-nothing
at strike$9.00 (1.5ฯƒ)$800$-56,800+$23,400+$700
+2.5%$9.22 (1.7ฯƒ)$-1,450$-56,800+$23,400-$1,550
+5%$9.45 (1.8ฯƒ)$-3,700$-56,800+$23,400-$3,800
SS (= V-bounce)$14.75 (5.4ฯƒ)$-56,700$-56,800+$23,400-$56,800
V-BOUNCE STRESS (stock โ†’ CC-SS $14.76, where you are whole again, by expiry)
Starting unrealized P&L: $-80,200
+ Fortress recovery (un-capped): +$80,200
โˆ’ CC assignment net of premium (100 ร— $9): -$56,800
Total Position P&L @ SS: $-56,800 (+$23,400 vs today)
Do-nothing baseline at SS: $100 (this trade vs do-nothing: $-56,900, the opportunity cost of earning $1,714/mo FIGHT income now)
BB-reversion stress (โ†’ $11.02 20W MA (bounce target), the probable scenario per weekly technicals): CC give-up -$19,400, position total $-56,800 (+$23,400 vs today)
▸33% normal100 × $7.506 Nov7d11.3%77%hist 83%47%hist 40%+7pp$1,600$6,857+$0$71,000
Sell 100 ร— $7.50 11.3% OTM over spot $6.74 6 Nov 2026 (7d, $0.17 mid)
= $1,600 credit for the 7d cycle โ†’ $6,857/mo projected
Survival (stays โ‰ค $7.50)
77%
Breach risk
23%
POP (stays โ‰ค $7.67)
81%
EV / mo
+$1,898
๐Ÿ“ˆ CAMPAIGN OUTLOOK (400 simulated futures, this rung on repeat for 9 months, no directional opinion)
FIGHT'S EDGE
+7pp
35% whole by 9mo vs 28% doing nothing
FIRE DRILLS
~4.1/quarter
challenges to roll; realized tends lower (calibration)
BANKED RATE WHILE FIGHTING
$2,850/mo
median; plan ~$1,938/mo after 68% keep · $21,715 banked by campaign end (selling stops once whole)
green: with FIGHT · grey: without
if it recovers, the typical trip is ~3.7 mo [2.2-5.6], measured ONLY among the 35% of futures that got whole
๐Ÿ›ก IF CHALLENGED (spot reaches the strike) ยท challenge = the strike is touched at any point, so it runs ~2x the breach risk (finishing through it)
Challenge odds (touch by expiry)
34%
Flat exit net (mid-life)
-$1,995
Free roll-up
+$0/wk
Safest escape (by 27 Nov 2026)
$10 @ 87% POP
85% survival
Roll menuyour doors if the call gets challenged; each row = buy back the 100 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: $0.51/sh now โ†’ $0.36 mid-life (likely $0.39โ€“$0.61) โ†’ โ‰ˆ $0 at expiry  |  you banked $0.16/sh, so a flat mid-life exit nets -$0.20/sh  |  roll rows are incremental, the banked premium stays yours
๐Ÿ“Š Across 1,033 simulated challenges: the $8 strike is typically first touched on day 4 of 7, at $8 (overshoots $0.26). The [P25โ€“P75] under each Total is that door's credit across those paths; % credit is the share of those challenges where the roll is a net credit.
MoveNew strike โ‰ˆNew expiryTenorEst netTotal (100 ct)POP / surv
of new CC
If rolled & exited
total P&L · cap gain @ new strike
Up-and-out for even (raise the cap, free)~$813 Nov 202610d left+$0.14/sh+$1,358
cycle +$2,958
[+$858โ€ฆ+$1,492] ยท 98% credit
72%
surv 61%
-$67,042 NOT
cap gain +$13,158
Roll out (same strike, buy time)~$813 Nov 202610d left+$0.14/sh+$1,358
cycle +$2,958
[+$673โ€ฆ+$1,498] ยท 94% credit
66%
surv 54%
-$69,642 NOT
cap gain +$10,558
Max even-money escape in the band~$927 Nov 202624d left+$0.07/sh+$739
cycle +$2,339
[-$189โ€ฆ+$864] ยท 64% credit
80%
surv 75%
-$57,661 NOT
cap gain +$22,539
SS $15 not reachable for even money within 45d; this is the ceiling of the free ladder
Safety roll (pay small debit, max POP)~$1027 Nov 202624d left-$0.12/sh-$1,238
cycle +$362
[-$2,627โ€ฆ-$1,252] ยท 5% credit
87%
surv 85%
-$49,638 NOT
cap gain +$30,562
budget: banked $1,600 debit $1,238 (77% used โ‰ˆ 0.8 wk of income) โ†’ whole cycle still +$362 cash ยท rolled 100 ct earn โ‰ˆ $2,946/mo while parked; 0 ct free to re-sell
If rolled & exited = your total from-entry P&L if you roll to that strike and then close the whole fortress with the stock pinned there (all legs repriced; SAFE = P&L โ‰ฅ 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 โ‰ค strike + premium collected, the call is profitable); surv = P(stays โ‰ค 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) ร— a Black-Scholes ratio to the challenge, using the leg's own IV shifted +0.5 vol pt per +1% move (spike-vol name: vol expands on a fast move, richer buyback). Estimates, not quotes; the live roll table owns the real decision when a CC is actually threatened.
More detail, income coverage, downside budget, tripwires, held-to-expiry ladder, V-bounce stress
Income coverage
Gross FIGHT income$6,857/mo
vs 50% target ($5,250/mo)+31%
vs normal income ($10,500/mo)65% covered
Net income (after hedge)$6,857/mo
Downside budget
⚠ $7.50 is $7 below CC-SS $14.76: assignment on a recovery to whole locks the cap give-up below.
Cap give-up @ CC-SS (V-bounce)-$71,000
โ€ฆ as % of IC ($147,500)48.1%
โ€ฆ as % of ML ($147,500)48.1%
Recovery months (at normal income)6.8 mo
Surgical close (100 ct)$-80,250
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 โ‰ฅ $7.67 (breakeven), whichever comes first. Time value = call mark price minus intrinsic (max(0, spot โˆ’ $8)); NOT the premium you collected. Momentum override: two daily closes above $10.68 (daily upper band) or daily RSI > 70 โ†’ treat "pressing" as "through".
Spot \ Timeโ‰ฅ 4d left3d leftโ‰ค 2d (expiry)
Below $7.42Do nothing. Theta wins.Do nothing.Penny buyback at the close; re-sell next cycle.
Pressing the strike
$7-7.67
Hold, alert at breakeven. Rolling into a spike pays top dollar; let theta bleed the buyback first.โ˜… Roll on strength NOW: cheap buyback, fat credits.Close or roll same day; pin risk at the strike.
Through breakeven
โ‰ฅ $7.67
Act now: intrinsic compounds daily. Up-and-out or safety roll.Roll or close immediately; time value is gone.Close today, or be assigned.
If held to expiryexact, settlement = intrinsic  ยท  fortress delta 1.00 (IBKR)
ScenarioSpotCC leg netPosition totalvs todayvs do-nothing
at strike$7.50 (โ‰ค1ฯƒ, normal week)$1,600$-71,000+$9,200+$1,500
+2.5%$7.69 (โ‰ค1ฯƒ, normal week)$-275$-71,000+$9,200-$375
+5%$7.88 (1.1ฯƒ)$-2,150$-71,000+$9,200-$2,250
SS (= V-bounce)$14.75 (7.6ฯƒ)$-70,900$-71,000+$9,200-$71,000
V-BOUNCE STRESS (stock โ†’ CC-SS $14.76, where you are whole again, by expiry)
Starting unrealized P&L: $-80,200
+ Fortress recovery (un-capped): +$80,200
โˆ’ CC assignment net of premium (100 ร— $7.50): -$71,000
Total Position P&L @ SS: $-71,000 (+$9,200 vs today)
Do-nothing baseline at SS: $100 (this trade vs do-nothing: $-71,100, the opportunity cost of earning $6,857/mo FIGHT income now)
BB-reversion stress (โ†’ $11.02 20W MA (bounce target), the probable scenario per weekly technicals): CC give-up -$33,600, position total $-71,000 (+$9,200 vs today)
▸๐ŸŽฏ 50% normal100 × $7.506 Nov7d11.3%77%hist 83%47%hist 40%+7pp$1,600$6,857—$71,000
Sell 100 ร— $7.50 11.3% OTM over spot $6.74 6 Nov 2026 (7d, $0.17 mid)
= $1,600 credit for the 7d cycle โ†’ $6,857/mo projected
Survival (stays โ‰ค $7.50)
77%
Breach risk
23%
POP (stays โ‰ค $7.67)
81%
EV / mo
+$1,898
๐Ÿ“ˆ CAMPAIGN OUTLOOK (400 simulated futures, this rung on repeat for 9 months, no directional opinion)
FIGHT'S EDGE
+7pp
35% whole by 9mo vs 28% doing nothing
FIRE DRILLS
~4.1/quarter
challenges to roll; realized tends lower (calibration)
BANKED RATE WHILE FIGHTING
$2,850/mo
median; plan ~$1,938/mo after 68% keep · $21,715 banked by campaign end (selling stops once whole)
green: with FIGHT · grey: without
if it recovers, the typical trip is ~3.7 mo [2.2-5.6], measured ONLY among the 35% of futures that got whole
๐Ÿ›ก IF CHALLENGED (spot reaches the strike) ยท challenge = the strike is touched at any point, so it runs ~2x the breach risk (finishing through it)
Challenge odds (touch by expiry)
34%
Flat exit net (mid-life)
-$1,995
Free roll-up
+$0/wk
Safest escape (by 27 Nov 2026)
$10 @ 87% POP
85% survival
Roll menuyour doors if the call gets challenged; each row = buy back the 100 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: $0.51/sh now โ†’ $0.36 mid-life (likely $0.39โ€“$0.61) โ†’ โ‰ˆ $0 at expiry  |  you banked $0.16/sh, so a flat mid-life exit nets -$0.20/sh  |  roll rows are incremental, the banked premium stays yours
๐Ÿ“Š Across 1,033 simulated challenges: the $8 strike is typically first touched on day 4 of 7, at $8 (overshoots $0.26). The [P25โ€“P75] under each Total is that door's credit across those paths; % credit is the share of those challenges where the roll is a net credit.
MoveNew strike โ‰ˆNew expiryTenorEst netTotal (100 ct)POP / surv
of new CC
If rolled & exited
total P&L · cap gain @ new strike
Up-and-out for even (raise the cap, free)~$813 Nov 202610d left+$0.14/sh+$1,358
cycle +$2,958
[+$858โ€ฆ+$1,492] ยท 98% credit
72%
surv 61%
-$67,042 NOT
cap gain +$13,158
Roll out (same strike, buy time)~$813 Nov 202610d left+$0.14/sh+$1,358
cycle +$2,958
[+$673โ€ฆ+$1,498] ยท 94% credit
66%
surv 54%
-$69,642 NOT
cap gain +$10,558
Max even-money escape in the band~$927 Nov 202624d left+$0.07/sh+$739
cycle +$2,339
[-$189โ€ฆ+$864] ยท 64% credit
80%
surv 75%
-$57,661 NOT
cap gain +$22,539
SS $15 not reachable for even money within 45d; this is the ceiling of the free ladder
Safety roll (pay small debit, max POP)~$1027 Nov 202624d left-$0.12/sh-$1,238
cycle +$362
[-$2,627โ€ฆ-$1,252] ยท 5% credit
87%
surv 85%
-$49,638 NOT
cap gain +$30,562
budget: banked $1,600 debit $1,238 (77% used โ‰ˆ 0.8 wk of income) โ†’ whole cycle still +$362 cash ยท rolled 100 ct earn โ‰ˆ $2,946/mo while parked; 0 ct free to re-sell
If rolled & exited = your total from-entry P&L if you roll to that strike and then close the whole fortress with the stock pinned there (all legs repriced; SAFE = P&L โ‰ฅ 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 โ‰ค strike + premium collected, the call is profitable); surv = P(stays โ‰ค 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) ร— a Black-Scholes ratio to the challenge, using the leg's own IV shifted +0.5 vol pt per +1% move (spike-vol name: vol expands on a fast move, richer buyback). Estimates, not quotes; the live roll table owns the real decision when a CC is actually threatened.
More detail, income coverage, downside budget, tripwires, held-to-expiry ladder, V-bounce stress
Income coverage
Gross FIGHT income$6,857/mo
vs 50% target ($5,250/mo)+31%
vs normal income ($10,500/mo)65% covered
Net income (after hedge)$6,857/mo
Downside budget
⚠ $7.50 is $7 below CC-SS $14.76: assignment on a recovery to whole locks the cap give-up below.
Cap give-up @ CC-SS (V-bounce)-$71,000
โ€ฆ as % of IC ($147,500)48.1%
โ€ฆ as % of ML ($147,500)48.1%
Recovery months (at normal income)6.8 mo
Surgical close (100 ct)$-80,250
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 โ‰ฅ $7.67 (breakeven), whichever comes first. Time value = call mark price minus intrinsic (max(0, spot โˆ’ $8)); NOT the premium you collected. Momentum override: two daily closes above $10.68 (daily upper band) or daily RSI > 70 โ†’ treat "pressing" as "through".
Spot \ Timeโ‰ฅ 4d left3d leftโ‰ค 2d (expiry)
Below $7.42Do nothing. Theta wins.Do nothing.Penny buyback at the close; re-sell next cycle.
Pressing the strike
$7-7.67
Hold, alert at breakeven. Rolling into a spike pays top dollar; let theta bleed the buyback first.โ˜… Roll on strength NOW: cheap buyback, fat credits.Close or roll same day; pin risk at the strike.
Through breakeven
โ‰ฅ $7.67
Act now: intrinsic compounds daily. Up-and-out or safety roll.Roll or close immediately; time value is gone.Close today, or be assigned.
If held to expiryexact, settlement = intrinsic  ยท  fortress delta 1.00 (IBKR)
ScenarioSpotCC leg netPosition totalvs todayvs do-nothing
at strike$7.50 (โ‰ค1ฯƒ, normal week)$1,600$-71,000+$9,200+$1,500
+2.5%$7.69 (โ‰ค1ฯƒ, normal week)$-275$-71,000+$9,200-$375
+5%$7.88 (1.1ฯƒ)$-2,150$-71,000+$9,200-$2,250
SS (= V-bounce)$14.75 (7.6ฯƒ)$-70,900$-71,000+$9,200-$71,000
V-BOUNCE STRESS (stock โ†’ CC-SS $14.76, where you are whole again, by expiry)
Starting unrealized P&L: $-80,200
+ Fortress recovery (un-capped): +$80,200
โˆ’ CC assignment net of premium (100 ร— $7.50): -$71,000
Total Position P&L @ SS: $-71,000 (+$9,200 vs today)
Do-nothing baseline at SS: $100 (this trade vs do-nothing: $-71,100, the opportunity cost of earning $6,857/mo FIGHT income now)
BB-reversion stress (โ†’ $11.02 20W MA (bounce target), the probable scenario per weekly technicals): CC give-up -$33,600, position total $-71,000 (+$9,200 vs today)
▸100% normal100 × $76 Nov7d3.9%63%hist 66%79%hist 68%+9pp$3,000$12,857+$6,000$74,600
Sell 100 ร— $7 3.9% OTM over spot $6.74 6 Nov 2026 (7d, $0.31 mid)
= $3,000 credit for the 7d cycle โ†’ $12,857/mo projected
Survival (stays โ‰ค $7)
63%
Breach risk
37%
POP (stays โ‰ค $7.31)
73%
EV / mo
+$2,364
๐Ÿ“ˆ CAMPAIGN OUTLOOK (400 simulated futures, this rung on repeat for 9 months, no directional opinion)
FIGHT'S EDGE
+9pp
37% whole by 9mo vs 28% doing nothing
FIRE DRILLS
~8.6/quarter
challenges to roll; realized tends lower (calibration)
BANKED RATE WHILE FIGHTING
$3,691/mo
median; plan ~$2,510/mo after 68% keep · $27,505 banked by campaign end (selling stops once whole)
green: with FIGHT · grey: without
if it recovers, the typical trip is ~3.9 mo [2.4-5.8], measured ONLY among the 37% of futures that got whole
๐Ÿ›ก IF CHALLENGED (spot reaches the strike) ยท challenge = the strike is touched at any point, so it runs ~2x the breach risk (finishing through it)
Challenge odds (touch by expiry)
61%
Flat exit net (mid-life)
-$249
Free roll-up
+$0/wk
Safest escape (by 27 Nov 2026)
$10 @ 92% POP
91% survival
Roll menuyour doors if the call gets challenged; each row = buy back the 100 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: $0.46/sh now โ†’ $0.32 mid-life (likely $0.42โ€“$0.62) โ†’ โ‰ˆ $0 at expiry  |  you banked $0.30/sh, so a flat mid-life exit nets -$0.02/sh  |  roll rows are incremental, the banked premium stays yours
๐Ÿ“Š Across 1,823 simulated challenges: the $7 strike is typically first touched on day 3 of 7, at $7 (overshoots $0.26). The [P25โ€“P75] under each Total is that door's credit across those paths; % credit is the share of those challenges where the roll is a net credit.
MoveNew strike โ‰ˆNew expiryTenorEst netTotal (100 ct)POP / surv
of new CC
If rolled & exited
total P&L · cap gain @ new strike
Up-and-out for even (raise the cap, free)~$713 Nov 202610d left+$0.11/sh+$1,137
cycle +$4,137
[+$484โ€ฆ+$899] ยท 95% credit
72%
surv 61%
-$70,863 NOT
cap gain +$9,337
Reliable up-and-out (highest cap still free โ‰ฅ60%)~$827 Nov 202624d left+$0.17/sh+$1,656
cycle +$4,656
[+$661โ€ฆ+$1,339] ยท 95% credit
77%
surv 69%
-$65,344 NOT
cap gain +$14,856
Roll out (same strike, buy time)~$713 Nov 202610d left+$0.12/sh+$1,233
cycle +$4,233
[+$345โ€ฆ+$916] ยท 89% credit
66%
surv 54%
-$73,367 NOT
cap gain +$6,833
Max even-money escape in the band~$827 Nov 202624d left+$0.04/sh+$354
cycle +$3,354
[-$921โ€ฆ-$91] ยท 22% credit
81%
surv 77%
-$61,646 NOT
cap gain +$18,554
SS $15 not reachable for even money within 45d; this is the ceiling of the free ladder
Safety roll (pay small debit, max POP)~$1027 Nov 202624d left-$0.19/sh-$1,925
cycle +$1,075
[-$3,982โ€ฆ-$2,603]
92%
surv 91%
-$48,925 NOT
cap gain +$31,275
budget: banked $3,000 debit $1,925 (64% used โ‰ˆ 0.7 wk of income) โ†’ whole cycle still +$1,075 cash ยท rolled 100 ct earn โ‰ˆ $1,655/mo while parked; 0 ct free to re-sell
If rolled & exited = your total from-entry P&L if you roll to that strike and then close the whole fortress with the stock pinned there (all legs repriced; SAFE = P&L โ‰ฅ 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 โ‰ค strike + premium collected, the call is profitable); surv = P(stays โ‰ค 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) ร— a Black-Scholes ratio to the challenge, using the leg's own IV shifted +0.5 vol pt per +1% move (spike-vol name: vol expands on a fast move, richer buyback). Estimates, not quotes; the live roll table owns the real decision when a CC is actually threatened.
More detail, income coverage, downside budget, tripwires, held-to-expiry ladder, V-bounce stress
Income coverage
Gross FIGHT income$12,857/mo
vs 50% target ($5,250/mo)+145%
vs normal income ($10,500/mo)122% covered
Net income (after hedge)$12,857/mo
Downside budget
⚠ $7 is $8 below CC-SS $14.76: assignment on a recovery to whole locks the cap give-up below.
Cap give-up @ CC-SS (V-bounce)-$74,600
โ€ฆ as % of IC ($147,500)50.6%
โ€ฆ as % of ML ($147,500)50.6%
Recovery months (at normal income)7.1 mo
Surgical close (100 ct)$-80,300
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 $0.30 collected) or spot โ‰ฅ $7.31 (breakeven), whichever comes first. Time value = call mark price minus intrinsic (max(0, spot โˆ’ $7)); NOT the premium you collected. Momentum override: two daily closes above $10.68 (daily upper band) or daily RSI > 70 โ†’ treat "pressing" as "through".
Spot \ Timeโ‰ฅ 4d left3d leftโ‰ค 2d (expiry)
Below $6.93Do nothing. Theta wins.Do nothing.Penny buyback at the close; re-sell next cycle.
Pressing the strike
$7-7.31
Hold, alert at breakeven. Rolling into a spike pays top dollar; let theta bleed the buyback first.โ˜… Roll on strength NOW: cheap buyback, fat credits.Close or roll same day; pin risk at the strike.
Through breakeven
โ‰ฅ $7.31
Act now: intrinsic compounds daily. Up-and-out or safety roll.Roll or close immediately; time value is gone.Close today, or be assigned.
If held to expiryexact, settlement = intrinsic  ยท  fortress delta 1.00 (IBKR)
ScenarioSpotCC leg netPosition totalvs todayvs do-nothing
at strike$7.00 (โ‰ค1ฯƒ, normal week)$3,000$-74,600+$5,600+$2,900
+2.5%$7.17 (โ‰ค1ฯƒ, normal week)$1,250$-74,600+$5,600+$1,150
+5%$7.35 (โ‰ค1ฯƒ, normal week)$-500$-74,600+$5,600-$600
SS (= V-bounce)$14.75 (7.6ฯƒ)$-74,500$-74,600+$5,600-$74,600
V-BOUNCE STRESS (stock โ†’ CC-SS $14.76, where you are whole again, by expiry)
Starting unrealized P&L: $-80,200
+ Fortress recovery (un-capped): +$80,200
โˆ’ CC assignment net of premium (100 ร— $7): -$74,600
Total Position P&L @ SS: $-74,600 (+$5,600 vs today)
Do-nothing baseline at SS: $100 (this trade vs do-nothing: $-74,700, the opportunity cost of earning $12,857/mo FIGHT income now)
BB-reversion stress (โ†’ $11.02 20W MA (bounce target), the probable scenario per weekly technicals): CC give-up -$37,200, position total $-74,600 (+$5,600 vs today)
A nudge, not a rule: the engine maximizes income at acceptable safety; this weighs the income you would give up against the breach risk you would shed. Your hedge bleed and your read on MARA are the tiebreakers.
⚔ FIGHT CC options · full candidate scan (8 clear the floor), click to expand

Every eligible strike x expiry in the 4-45 DTE band (4 expiries scanned, 8 clear the income floor), each sized to the minimum contracts that clear it. Sorted by survival (safest first): the primary ๐ŸŽฏ is the safest; rows below trade safety for income.

Fortress delta: 1.000 (IBKR)  |  Recovery@SS: +$80,200 (un-capped fortress gain if stock rallies to SS)  |  Do-nothing @ SS: $100

StrikeDTEExpiryBidSellPer cycleIncome/moNet/moSurvivalTouchPOP (mid)EV/moCap Give-up @ CC-SS%ICRecoverTotal P&L @ SS
$7.507d6 Nov 2026$0.16100/100$1,600$6,857$6,85777%hist 83%47%hist 40%81%+$1,898-$71,00048.1%6.8mo$-71,000 (vs do-nothing $-71,100)
$7.5014d13 Nov 2026$0.32100/100$3,200$6,857$6,85772%hist 83%60%hist 54%78%+$1,624-$69,40047.1%6.6mo$-69,400 (vs do-nothing $-69,500)
$7.5021d20 Nov 2026$0.43100/100$4,300$6,143$6,14370%hist 83%65%hist 54%77%+$1,306-$68,30046.3%6.5mo$-68,300 (vs do-nothing $-68,400)
$7.5028d27 Nov 2026$0.50100/100$5,000$5,357$5,35770%hist 66%68%hist 54%77%+$1,161-$67,60045.8%6.4mo$-67,600 (vs do-nothing $-67,700)
$77d6 Nov 2026$0.30100/100$3,000$12,857$12,85763%hist 66%79%hist 68%73%+$2,364-$74,60050.6%7.1mo$-74,600 (vs do-nothing $-74,700)
$714d13 Nov 2026$0.49100/100$4,900$10,500$10,50061%hist 66%85%hist 79%72%+$1,689-$72,70049.3%6.9mo$-72,700 (vs do-nothing $-72,800)
$728d27 Nov 2026$0.68100/100$6,800$7,286$7,28661%hist 66%88%hist 79%72%+$1,267-$70,80048.0%6.7mo$-70,800 (vs do-nothing $-70,900)
$721d20 Nov 2026$0.61100/100$6,100$8,714$8,71461%hist 66%87%hist 79%72%+$1,457-$71,50048.5%6.8mo$-71,500 (vs do-nothing $-71,600)
53 more priced, not eligible (safety, income floor or quote screens): shown for reference
StrikeDTEExpiryBidSellPer cycleIncome/moNet/moSurvivalTouchPOP (mid)EV/moCap Give-up @ CC-SS%ICRecoverTotal P&L @ SSWhy not eligible
$1721d20 Nov 2026$0.01100/100$100$143$14399%hist 95%1%hist 4%100%+$105-$00.0%0.0mo$100 (vs do-nothing +$0)50% income floor unreachable even selling every contract
$1414d13 Nov 2026$0.01100/100$100$214$21499%hist 95%1%hist 4%99%+$164-$7,5005.1%0.7mo$-7,500 (vs do-nothing $-7,600)50% income floor unreachable even selling every contract
$1728d27 Nov 2026$0.01100/100$100$107$10799%hist 95%1%hist 4%99%+$60-$00.0%0.0mo$100 (vs do-nothing +$0)50% income floor unreachable even selling every contract
$1621d20 Nov 2026$0.01100/100$100$143$14399%hist 95%2%hist 4%99%+$86-$00.0%0.0mo$100 (vs do-nothing +$0)50% income floor unreachable even selling every contract
$1628d27 Nov 2026$0.01100/100$100$107$10799%hist 95%2%hist 4%99%+$58-$00.0%0.0mo$100 (vs do-nothing +$0)50% income floor unreachable even selling every contract
$15.5028d27 Nov 2026$0.01100/100$100$107$10799%hist 95%2%hist 4%99%+$57-$00.0%0.0mo$100 (vs do-nothing +$0)50% income floor unreachable even selling every contract
$13.5014d13 Nov 2026$0.01100/100$100$214$21499%hist 95%2%hist 4%99%+$143-$12,5008.5%1.2mo$-12,500 (vs do-nothing $-12,600)50% income floor unreachable even selling every contract
$1521d20 Nov 2026$0.01100/100$100$143$14399%hist 95%2%hist 4%99%+$73-$00.0%0.0mo$100 (vs do-nothing +$0)50% income floor unreachable even selling every contract
$1314d13 Nov 2026$0.01100/100$100$214$21499%hist 95%2%hist 4%99%+$121-$17,50011.9%1.7mo$-17,500 (vs do-nothing $-17,600)50% income floor unreachable even selling every contract
$1421d20 Nov 2026$0.01100/100$100$143$14399%hist 95%2%hist 4%99%+$63-$7,5005.1%0.7mo$-7,500 (vs do-nothing $-7,600)50% income floor unreachable even selling every contract
$1528d27 Nov 2026$0.01100/100$100$107$10799%hist 95%2%hist 4%99%+$34-$00.0%0.0mo$100 (vs do-nothing +$0)50% income floor unreachable even selling every contract
$14.5028d27 Nov 2026$0.01100/100$100$107$10799%hist 95%2%hist 4%99%+$33-$2,5001.7%0.2mo$-2,500 (vs do-nothing $-2,600)50% income floor unreachable even selling every contract
$13.5021d20 Nov 2026$0.01100/100$100$143$14399%hist 95%3%hist 4%99%+$56-$12,5008.5%1.2mo$-12,500 (vs do-nothing $-12,600)50% income floor unreachable even selling every contract
$1428d27 Nov 2026$0.02100/100$200$214$21499%hist 95%3%hist 4%99%+$139-$7,4005.0%0.7mo$-7,400 (vs do-nothing $-7,500)50% income floor unreachable even selling every contract
$10.507d6 Nov 2026$0.01100/100$100$429$42999%hist 95%3%hist 4%99%+$310-$42,50028.8%4.0mo$-42,500 (vs do-nothing $-42,600)50% income floor unreachable even selling every contract
$12.5014d13 Nov 2026$0.01100/100$100$214$21499%hist 95%3%hist 4%99%+$96-$22,50015.3%2.1mo$-22,500 (vs do-nothing $-22,600)50% income floor unreachable even selling every contract
$1321d20 Nov 2026$0.02100/100$200$286$28699%hist 95%3%hist 4%99%+$187-$17,40011.8%1.7mo$-17,400 (vs do-nothing $-17,500)50% income floor unreachable even selling every contract
$13.5028d27 Nov 2026$0.02100/100$200$214$21499%hist 95%3%hist 4%99%+$130-$12,4008.4%1.2mo$-12,400 (vs do-nothing $-12,500)50% income floor unreachable even selling every contract
$1214d13 Nov 2026$0.01100/100$100$214$21498%hist 95%3%hist 4%98%+$69-$27,50018.6%2.6mo$-27,500 (vs do-nothing $-27,600)50% income floor unreachable even selling every contract
$12.5021d20 Nov 2026$0.02100/100$200$286$28698%hist 95%3%hist 4%98%+$171-$22,40015.2%2.1mo$-22,400 (vs do-nothing $-22,500)50% income floor unreachable even selling every contract
$1328d27 Nov 2026$0.02100/100$200$214$21498%hist 95%4%hist 4%98%+$106-$17,40011.8%1.7mo$-17,400 (vs do-nothing $-17,500)50% income floor unreachable even selling every contract
$11.5014d13 Nov 2026$0.02100/100$200$429$42998%hist 95%4%hist 4%98%+$250-$32,40022.0%3.1mo$-32,400 (vs do-nothing $-32,500)50% income floor unreachable even selling every contract
$1221d20 Nov 2026$0.02100/100$200$286$28698%hist 95%4%hist 4%98%+$147-$27,40018.6%2.6mo$-27,400 (vs do-nothing $-27,500)50% income floor unreachable even selling every contract
$12.5028d27 Nov 2026$0.03100/100$300$321$32198%hist 95%4%hist 4%98%+$202-$22,30015.1%2.1mo$-22,300 (vs do-nothing $-22,400)50% income floor unreachable even selling every contract
$107d6 Nov 2026$0.01100/100$100$429$42998%hist 95%4%hist 4%98%+$201-$47,50032.2%4.5mo$-47,500 (vs do-nothing $-47,600)50% income floor unreachable even selling every contract
$11.5021d20 Nov 2026$0.03100/100$300$429$42998%hist 95%5%hist 4%98%+$256-$32,30021.9%3.1mo$-32,300 (vs do-nothing $-32,400)50% income floor unreachable even selling every contract
$1114d13 Nov 2026$0.02100/100$200$429$42998%hist 95%5%hist 4%98%+$203-$37,40025.4%3.6mo$-37,400 (vs do-nothing $-37,500)50% income floor unreachable even selling every contract
$1228d27 Nov 2026$0.03100/100$300$321$32197%hist 95%6%hist 4%97%+$143-$27,30018.5%2.6mo$-27,300 (vs do-nothing $-27,400)50% income floor unreachable even selling every contract
$9.507d6 Nov 2026$0.01100/100$100$429$42997%hist 95%6%hist 4%97%+$89-$52,50035.6%5.0mo$-52,500 (vs do-nothing $-52,600)50% income floor unreachable even selling every contract
$1121d20 Nov 2026$0.04100/100$400$571$57197%hist 95%6%hist 4%97%+$344-$37,20025.2%3.5mo$-37,200 (vs do-nothing $-37,300)50% income floor unreachable even selling every contract
$11.5028d27 Nov 2026$0.04100/100$400$429$42997%hist 95%7%hist 4%97%+$222-$32,20021.8%3.1mo$-32,200 (vs do-nothing $-32,300)50% income floor unreachable even selling every contract
$10.5014d13 Nov 2026$0.03100/100$300$643$64397%hist 95%7%hist 4%97%+$347-$42,30028.7%4.0mo$-42,300 (vs do-nothing $-42,400)50% income floor unreachable even selling every contract
$10.5021d20 Nov 2026$0.05100/100$500$714$71496%hist 95%9%hist 4%96%+$398-$42,10028.5%4.0mo$-42,100 (vs do-nothing $-42,200)50% income floor unreachable even selling every contract
$1014d13 Nov 2026$0.04100/100$400$857$85796%hist 95%9%hist 4%96%+$445-$47,20032.0%4.5mo$-47,200 (vs do-nothing $-47,300)50% income floor unreachable even selling every contract
$1128d27 Nov 2026$0.06100/100$600$643$64396%hist 95%9%hist 4%96%+$324-$37,00025.1%3.5mo$-37,000 (vs do-nothing $-37,100)50% income floor unreachable even selling every contract
$97d6 Nov 2026$0.02100/100$200$857$85796%hist 95%9%hist 4%96%+$324-$57,40038.9%5.5mo$-57,400 (vs do-nothing $-57,500)50% income floor unreachable even selling every contract
$10.5028d27 Nov 2026$0.07100/100$700$750$75095%hist 95%11%hist 13%95%+$348-$41,90028.4%4.0mo$-41,900 (vs do-nothing $-42,000)50% income floor unreachable even selling every contract
$1021d20 Nov 2026$0.07100/100$700$1,000$1,00094%hist 95%12%hist 13%95%+$532-$46,90031.8%4.5mo$-46,900 (vs do-nothing $-47,000)50% income floor unreachable even selling every contract
$9.5014d13 Nov 2026$0.05100/100$500$1,071$1,07194%hist 95%12%hist 13%94%+$455-$52,10035.3%5.0mo$-52,100 (vs do-nothing $-52,200)50% income floor unreachable even selling every contract
$8.507d6 Nov 2026$0.04100/100$400$1,714$1,71493%hist 95%14%hist 13%93%+$753-$62,20042.2%5.9mo$-62,200 (vs do-nothing $-62,300)50% income floor unreachable even selling every contract
$1028d27 Nov 2026$0.10100/100$1,000$1,071$1,07193%hist 95%15%hist 13%93%+$490-$46,60031.6%4.4mo$-46,600 (vs do-nothing $-46,700)50% income floor unreachable even selling every contract
$9.5021d20 Nov 2026$0.10100/100$1,000$1,429$1,42992%hist 95%17%hist 13%93%+$698-$51,60035.0%4.9mo$-51,600 (vs do-nothing $-51,700)50% income floor unreachable even selling every contract
$914d13 Nov 2026$0.08100/100$800$1,714$1,71492%hist 95%18%hist 13%92%+$726-$56,80038.5%5.4mo$-56,800 (vs do-nothing $-56,900)50% income floor unreachable even selling every contract
$9.5028d27 Nov 2026$0.14100/100$1,400$1,500$1,50090%hist 95%21%hist 23%91%+$655-$51,20034.7%4.9mo$-51,200 (vs do-nothing $-51,300)50% income floor unreachable even selling every contract
$921d20 Nov 2026$0.14100/100$1,400$2,000$2,00089%hist 86%24%hist 23%90%+$818-$56,20038.1%5.4mo$-56,200 (vs do-nothing $-56,300)50% income floor unreachable even selling every contract
$87d6 Nov 2026$0.08100/100$800$3,429$3,42987%hist 86%26%hist 23%89%+$1,304-$66,80045.3%6.4mo$-66,800 (vs do-nothing $-66,900)50% income floor unreachable even selling every contract
$8.5014d13 Nov 2026$0.12100/100$1,200$2,571$2,57187%hist 86%27%hist 23%89%+$886-$61,40041.6%5.8mo$-61,400 (vs do-nothing $-61,500)50% income floor unreachable even selling every contract
$928d27 Nov 2026$0.19100/100$1,900$2,036$2,03687%hist 86%28%hist 23%89%+$744-$55,70037.8%5.3mo$-55,700 (vs do-nothing $-55,800)50% income floor unreachable even selling every contract
$8.5021d20 Nov 2026$0.21100/100$2,100$3,000$3,00084%hist 86%34%hist 30%86%+$1,071-$60,50041.0%5.8mo$-60,500 (vs do-nothing $-60,600)50% income floor unreachable even selling every contract
$8.5028d27 Nov 2026$0.27100/100$2,700$2,893$2,89382%hist 86%38%hist 30%85%+$949-$59,90040.6%5.7mo$-59,900 (vs do-nothing $-60,000)50% income floor unreachable even selling every contract
$814d13 Nov 2026$0.21100/100$2,100$4,500$4,50081%hist 86%41%hist 40%84%+$1,524-$65,50044.4%6.2mo$-65,500 (vs do-nothing $-65,600)50% income floor unreachable even selling every contract
$821d20 Nov 2026$0.30100/100$3,000$4,286$4,28678%hist 83%48%hist 40%82%+$1,182-$64,60043.8%6.2mo$-64,600 (vs do-nothing $-64,700)50% income floor unreachable even selling every contract
$828d27 Nov 2026$0.37100/100$3,700$3,964$3,96477%hist 83%51%hist 44%81%+$1,090-$63,90043.3%6.1mo$-63,900 (vs do-nothing $-64,000)50% income floor unreachable even selling every contract

Per cycle = bid x 100 x contracts, the cash this expiry pays. Touch = P(strike trades before expiry), with the graded record's hist pill. Recover = months of this income to close the hole to CC-SS. 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 100 contracts at the conservative CC.

fortress_fight.py v6.3  |  2026-10-31 03:19