+25 Dec 17 '27 500C-25 Dec 17 '27 330P+25 Dec 17 '27 300P413 days leftCSV ND 63.00entry $330 -53.6%CC-SS $394.50 (+158% vs spot)BE-SS $563.00 (+268% vs spot)
Spot
$152.98
CBOE 2026-10-30 00:39:55
When to roll✕ ROLL NOW
Roll now
The short put has almost no time value left ($0 a share): early assignment can come any day, and it would break the structure.
Holding as is costs about $82 a day in time decay (net theta of the three legs).
The new expiry is still wide (worst leg spread 16% of mid, open interest as low as 49): work the order at mid, never natural.
The best roll lowers the CC-SS from $394 to $319: covered calls can be written $75 closer to spot.
Is the time worth buying✓ EXTEND
It fights for its income: the extra time pays for the roll
Last 90 days earned $7,994/mo against a $3,875/mo floor and a $7,750/mo design (EARNING ITS KEEP).
Safe calls (at or above the $394 CC-SS) only pay a normal premium from about $346 (+126% from here).
FIGHT engine (~0.30-delta calls below the CC-SS, where an assignment locks a loss): about $8,161/mo at COIN's realized keep of 67% (36 closed calls).
The record shows it fights: $7,994/mo earned against a modelled $8,161/mo, so FIGHT income counts toward the time.
Extending to Dec 15 '28 buys 12 months. Expected income to expiry with FIGHT: $106,234 if you keep, $226,965 after the roll; safe calls alone: $11,231 vs $83,339. Odds safe calls restart: 9% vs 25%.
At the record's pace the extra 12 months are worth about $95,717.
Earnings 2026-10-30 (1 days): sell no new income into it.
Today, if you keep it
Value now (mid)
-$57,000
Unrealized vs CSV ND
-$214,500
Max loss from here
$18,000
Margin it holds (model)
$12,815
a close frees it; $55,763 on all COIN here
CC-SS
$394.50
safe call from $346
Net delta
+470 sh
notional $382,450
Theta
-$82/day
net of the three legs
Short put time value
$0.00
assignment HIGH
If you close it today
Whole-life P/L
-$214,500
legs + call income, all in
Legs vs entry
-$214,500
close LC / SP / HP at mid vs CSV ND
Call income banked
-
no history
Cash to close today
-$57,000
legs at mid + call buyback +$0
If you hold to expiry instead
Whole-life P/L at expiry
-$117,635
expected; -$214,500 if closed today
Chance of break-even
1%
whole-life P/L at or above zero
Max loss left
$18,000
92% of the $232,500 at entry already taken
Worst case if held
-$232,500
legs at their worst, no call income
No roll and no close: calls written every cycle to Dec 17 '27 (FIGHT included). Spot at expiry is spread lognormal at realized vol, zero drift. Holding keeps $12,815 of margin a close would free, counted dollar for dollar: holding beats closing by $84,050.
Recommended roll
BEST: cash + margin
-$11,375
cash at mid today (natural -$58,375)
FULLDec 15 '28+12 months
SELL 25 Dec 17 '27 500C (close)
BUY 25 Dec 17 '27 330P (close)
SELL 25 Dec 17 '27 300P (close)
BUY 25 Dec 15 '28 460C (open)
SELL 25 Dec 15 '28 210P (open)
BUY 25 Dec 15 '28 155P (open)
Margin change
+$29,786
freed is good; IBKR: IBKR's margin engine answers only in US market hours (21:30-04:00 SGT)
Hedge extension (est.)
none
hedge rolled too
Income over the time bought
$95,717
actual: $7,994 a month x 12 months; covers 130% of the max loss it adds
Restart odds
9% → 25%
safe calls paying before expiry
Max loss from here
$91,875
+$73,875 vs keep
CC-SS
$319.43
now $394.50
CSV ND after
67.55
at a mid fill
If you're assigned
Odds of early assignment within 12 months: 100% (exercised now).
Close everything now: -$57,000. Wait for assignment: -$65,800 (the put spread -$79,488, plus the 500C you keep, worth $13,688). About the same, and waiting keeps the call income.
On assignment: sell the shares and sell the hedge put (never exercise it): $79,488 more ($32 a share). Basis 94.80; the 500C alone has CC-SS $421.06 (now $394.50), break-even $595, margin about zero.
Calls afterwards (Dec 04 '26, 35d): a 185C (~0.30 delta) about $13,188 a cycle, but a rally can cost up to $787,500 a cycle. The 500C loses about $2,062 a month to time.
Close the 500C at assignment, unless you want the upside bet.
Income outlook
Last 90 days vs design
$7,994/mo
EARNING ITS KEEP
floor $3,875
design $7,750
$7,994/mo earned, at least half of the $7,750/mo it is designed to earn
Scanner's best pick today
$6,186/mo
Time with a call written
69%
Source: Coverage Insights 2026-10-30
Market now
Call IV (~35d)
67%
CBOE 30-day 68%
Regime
NEUTRAL
RSI 43
Next earnings
2026-10-30
1 days
FIGHT rate (model)
$8,161/mo
~0.30-delta calls x 67% keep
Where safe calls start paying
safe from $346
spot $153
Spot needs +126% before a safe call pays a normal premium.
What the time buys
Expected income to expiry, FIGHT included (model)
Keep Dec 17 '27
$106,234
Roll Dec 15 '28
$226,965
Odds safe calls start paying before expiry
Keep Dec 17 '27
9%
Roll Dec 15 '28
25%
Safe calls alone (never below the CC-SS)
Keep Dec 17 '27
$11,231
Roll Dec 15 '28
$83,339
Months bought
12
Worth at the record's pace
$95,717
Engine state
FIGHTING
Roll choices on Dec 15 '28
Cash received is green, paid is red. Margin freed is green, added is red. Extra income is the model's expected income the extra time adds, FIGHT calls included at the realized keep; extra safe income counts calls at or above the CC-SS only.
BEST: cash + margin
Most cash received net of margin added (the 2026-10-22 rule): the recommended roll.
FULLDec 15 '28
Cash at mid
-$11,375
Margin change
+$29,786
Strikes
460C / -210P / +155P
Cash at natural
-$58,375
Extra income, FIGHT incl. (model)
+$120,730 (+$10,083/mo)
Extra safe income (model)
+$72,108 (+$6,022/mo)
Restart odds
25% (keep 9%)
Value incl. income
+$79,570
Max loss from here
$91,875 (+$73,875)
CC-SS
$319.43 (now $394.50)
Net delta
+1114 sh (now +470)
CSV ND after
67.55
Worst spread / min OI
16% / 49
Danger point
-19% (now none to -60%)
Order legs
SELL 25 Dec 17 '27 500C (close)
BUY 25 Dec 17 '27 330P (close)
SELL 25 Dec 17 '27 300P (close)
BUY 25 Dec 15 '28 460C (open)
SELL 25 Dec 15 '28 210P (open)
BUY 25 Dec 15 '28 155P (open)
BEST WITH INCOME
Cash + margin + the extra income the time buys, FIGHT included (model).
FULLDec 15 '28also MOST CASH
Cash at mid
+$59,750
Margin change
+$45,446
Strikes
460C / -240P / +140P
Cash at natural
+$8,500
Extra income, FIGHT incl. (model)
+$127,657 (+$10,661/mo)
Extra safe income (model)
+$85,743 (+$7,161/mo)
Restart odds
28% (keep 9%)
Value incl. income
+$141,961
Max loss from here
$133,250 (+$115,250)
CC-SS
$301.22 (now $394.50)
Net delta
+1386 sh (now +470)
CSV ND after
39.10
Worst spread / min OI
16% / 96
Danger point
-17% (now none to -60%)
Order legs
SELL 25 Dec 17 '27 500C (close)
BUY 25 Dec 17 '27 330P (close)
SELL 25 Dec 17 '27 300P (close)
BUY 25 Dec 15 '28 460C (open)
SELL 25 Dec 15 '28 240P (open)
BUY 25 Dec 15 '28 140P (open)
LEAST MARGIN
Largest drop (or smallest rise) in maintenance margin.
FULLDec 15 '28also LOWEST MAX LOSS
Cash at mid
-$85,562
Margin change
+$15,896
Strikes
460C / -165P / +155P
Cash at natural
-$130,000
Extra income, FIGHT incl. (model)
+$114,342 (+$9,549/mo)
Extra safe income (model)
+$54,911 (+$4,586/mo)
Restart odds
22% (keep 9%)
Value incl. income
+$12,883
Max loss from here
$53,562 (+$35,562)
CC-SS
$340.27 (now $394.50)
Net delta
+834 sh (now +470)
CSV ND after
97.22
Worst spread / min OI
16% / 49
Danger point
-23% (now none to -60%)
Order legs
SELL 25 Dec 17 '27 500C (close)
BUY 25 Dec 17 '27 330P (close)
SELL 25 Dec 17 '27 300P (close)
BUY 25 Dec 15 '28 460C (open)
SELL 25 Dec 15 '28 165P (open)
BUY 25 Dec 15 '28 155P (open)
INCOME ENGINE
Most expected income to the new expiry, FIGHT included (model).
FULLDec 15 '28
Cash at mid
-$101,938
Margin change
+$49,608
Strikes
250C / -190P / +155P
Cash at natural
-$155,125
Extra income, FIGHT incl. (model)
+$133,592 (+$11,157/mo)
Extra safe income (model)
+$98,464 (+$8,223/mo)
Restart odds
33% (keep 9%)
Value incl. income
-$17,954
Max loss from here
$132,438 (+$114,438)
CC-SS
$276.93 (now $394.50)
Net delta
+1609 sh (now +470)
CSV ND after
103.78
Worst spread / min OI
15% / 49
Danger point
-17% (now none to -60%)
Order legs
SELL 25 Dec 17 '27 500C (close)
BUY 25 Dec 17 '27 330P (close)
SELL 25 Dec 17 '27 300P (close)
BUY 25 Dec 15 '28 250C (open)
SELL 25 Dec 15 '28 190P (open)
BUY 25 Dec 15 '28 155P (open)
SAME STRIKES
The held strikes rolled straight out (reference).
FULLDec 15 '28
Cash at mid
+$28,188
Margin change
+$38,834
Strikes
460C / -240P / +160P
Cash at natural
-$20,750
Extra income, FIGHT incl. (model)
+$124,935 (+$10,434/mo)
Extra safe income (model)
+$80,297 (+$6,706/mo)
Restart odds
27% (keep 9%)
Value incl. income
+$114,289
Max loss from here
$114,812 (+$96,812)
CC-SS
$309.19 (now $394.50)
Net delta
+1258 sh (now +470)
CSV ND after
51.73
Worst spread / min OI
16% / 96
Danger point
-18% (now none to -60%)
Order legs
SELL 25 Dec 17 '27 500C (close)
BUY 25 Dec 17 '27 330P (close)
SELL 25 Dec 17 '27 300P (close)
BUY 25 Dec 15 '28 460C (open)
SELL 25 Dec 15 '28 240P (open)
BUY 25 Dec 15 '28 160P (open)
Side by side
Family
Expiry
LC
SP
HP
Cash mid
Hedge est
Margin chg
Extra income
Extra safe
Restart
Value incl. income
Max loss
CC-SS
Delta sh
KEEP
held
Dec 17 '27
500
330
300
-
-
-
-
-
9%
-
$18,000
$394.50
+470
BEST
FULL
Dec 15 '28
460
210
155
-$11,375
-
+$29,786
+$120,730 +$10,083/mo
+$72,108 +$6,022/mo
25%
+$79,570
$91,875
$319.43
+1114
BEST WITH INCOME
FULL
Dec 15 '28
460
240
140
+$59,750
-
+$45,446
+$127,657 +$10,661/mo
+$85,743 +$7,161/mo
28%
+$141,961
$133,250
$301.22
+1386
MOST CASH
FULL
Dec 15 '28
460
240
140
+$59,750
-
+$45,446
+$127,657 +$10,661/mo
+$85,743 +$7,161/mo
28%
+$141,961
$133,250
$301.22
+1386
LEAST MARGIN
FULL
Dec 15 '28
460
165
155
-$85,562
-
+$15,896
+$114,342 +$9,549/mo
+$54,911 +$4,586/mo
22%
+$12,883
$53,562
$340.27
+834
LOWEST MAX LOSS
FULL
Dec 15 '28
460
165
155
-$85,562
-
+$15,896
+$114,342 +$9,549/mo
+$54,911 +$4,586/mo
22%
+$12,883
$53,562
$340.27
+834
INCOME ENGINE
FULL
Dec 15 '28
250
190
155
-$101,938
-
+$49,608
+$133,592 +$11,157/mo
+$98,464 +$8,223/mo
33%
-$17,954
$132,438
$276.93
+1609
SAME STRIKES
FULL
Dec 15 '28
460
240
160
+$28,188
-
+$38,834
+$124,935 +$10,434/mo
+$80,297 +$6,706/mo
27%
+$114,289
$114,812
$309.19
+1258
Cost of waiting
The BEST roll done later instead of today (-$11,375 at mid). Black-Scholes at each leg's IV, aged and moved, anchored on today's market. Estimates.
Roll on
Days before expiry
Spot -30% ($107)
Spot +0% ($153)
Spot +30% ($199)
Today
413
-
-$11,375
-
2027-09-18
90
+$28,366
-$549
-$36,390
2027-11-02
45
+$30,234
+$2,057
-$34,302
How much time to buy
Family
Expiry
LC
SP
HP
Cash mid
Hedge est
Margin chg
Extra income
Extra safe
Restart
Value incl. income
Max loss
CC-SS
Delta sh
Jun 16 '28
FULL
Jun 16 '28
520
210
150
+$15,875
-
+$22,538
+$62,390 +$10,421/mo
+$26,461 +$4,420/mo
19%
+$55,728
$77,125
$346.27
+914
Dec 15 '28
FULL
Dec 15 '28
460
240
140
+$59,750
-
+$45,446
+$127,657 +$10,661/mo
+$85,743 +$7,161/mo
28%
+$141,961
$133,250
$301.22
+1386
Jan 19 '29
FULL
Jan 19 '29
370
240
150
+$22,438
-
+$51,501
+$143,333 +$10,921/mo
+$101,381 +$7,724/mo
31%
+$114,269
$145,562
$286.21
+1548
Top 25 candidates on Dec 15 '28
Family
Expiry
LC
SP
HP
Cash mid
Hedge est
Margin chg
Extra income
Extra safe
Restart
Value incl. income
Max loss
CC-SS
Delta sh
1
FULL
Dec 15 '28
460
240
140
+$59,750
-
+$45,446
+$127,657 +$10,661/mo
+$85,743 +$7,161/mo
28%
+$141,961
$133,250
$301.22
+1386
2
FULL
Dec 15 '28
440
240
140
+$58,125
-
+$46,352
+$128,415 +$10,725/mo
+$87,384 +$7,298/mo
29%
+$140,188
$134,875
$298.45
+1426
3
FULL
Dec 15 '28
450
240
140
+$57,250
-
+$46,630
+$128,339 +$10,718/mo
+$87,218 +$7,284/mo
29%
+$138,959
$135,750
$298.73
+1406
4
FULL
Dec 15 '28
430
240
140
+$56,375
-
+$47,219
+$128,937 +$10,768/mo
+$88,535 +$7,394/mo
29%
+$138,093
$136,625
$296.49
+1447
5
FULL
Dec 15 '28
460
240
145
+$51,688
-
+$43,994
+$127,035 +$10,610/mo
+$84,461 +$7,054/mo
28%
+$134,728
$128,812
$303.21
+1354
6
FULL
Dec 15 '28
460
230
135
+$49,500
-
+$43,303
+$127,031 +$10,609/mo
+$84,454 +$7,053/mo
28%
+$133,229
$131,000
$303.22
+1361
7
FULL
Dec 15 '28
460
240
150
+$47,250
-
+$41,230
+$126,382 +$10,555/mo
+$83,150 +$6,944/mo
27%
+$132,402
$120,750
$305.13
+1322
8
FULL
Dec 15 '28
440
240
145
+$50,062
-
+$44,901
+$127,891 +$10,681/mo
+$86,247 +$7,203/mo
28%
+$133,053
$130,438
$300.37
+1394
9
FULL
Dec 15 '28
450
240
145
+$49,188
-
+$45,178
+$127,810 +$10,674/mo
+$86,072 +$7,188/mo
28%
+$131,820
$131,312
$300.67
+1374
10
FULL
Dec 15 '28
440
230
135
+$47,875
-
+$44,209
+$127,890 +$10,681/mo
+$86,244 +$7,203/mo
28%
+$131,556
$132,625
$300.38
+1401
11
FULL
Dec 15 '28
440
240
150
+$45,625
-
+$42,136
+$127,354 +$10,636/mo
+$85,107 +$7,108/mo
28%
+$130,843
$122,375
$302.25
+1362
12
FULL
Dec 15 '28
460
240
155
+$42,062
-
+$38,839
+$125,683 +$10,497/mo
+$81,764 +$6,829/mo
27%
+$128,907
$113,438
$307.15
+1290
13
FULL
Dec 15 '28
430
240
145
+$48,312
-
+$45,767
+$128,438 +$10,727/mo
+$87,434 +$7,302/mo
29%
+$130,983
$132,188
$298.37
+1416
14
FULL
Dec 15 '28
450
230
135
+$47,000
-
+$44,487
+$127,808 +$10,674/mo
+$86,068 +$7,188/mo
28%
+$130,322
$133,500
$300.68
+1381
15
FULL
Dec 15 '28
450
240
150
+$44,750
-
+$42,413
+$127,253 +$10,628/mo
+$84,901 +$7,091/mo
28%
+$129,589
$123,250
$302.55
+1341
16
FULL
Dec 15 '28
430
230
135
+$46,125
-
+$45,076
+$128,437 +$10,727/mo
+$87,433 +$7,302/mo
29%
+$129,486
$134,375
$298.37
+1422
17
FULL
Dec 15 '28
430
240
150
+$43,875
-
+$43,003
+$127,938 +$10,685/mo
+$86,347 +$7,211/mo
28%
+$128,810
$124,125
$300.21
+1383
18
FULL
Dec 15 '28
460
230
140
+$42,562
-
+$41,737
+$126,358 +$10,553/mo
+$83,104 +$6,941/mo
27%
+$127,184
$125,438
$305.20
+1328
19
FULL
Dec 15 '28
440
240
155
+$40,438
-
+$39,745
+$126,696 +$10,581/mo
+$83,779 +$6,997/mo
28%
+$127,389
$115,062
$304.21
+1330
20
FULL
Dec 15 '28
420
240
145
+$46,312
-
+$46,743
+$128,998 +$10,773/mo
+$88,670 +$7,405/mo
29%
+$128,567
$134,188
$296.25
+1438
21
FULL
Dec 15 '28
450
240
155
+$39,562
-
+$40,023
+$126,588 +$10,572/mo
+$83,563 +$6,979/mo
27%
+$126,128
$115,938
$304.53
+1310
22
FULL
Dec 15 '28
410
240
145
+$46,125
-
+$46,949
+$129,270 +$10,796/mo
+$89,256 +$7,454/mo
29%
+$128,446
$134,375
$295.22
+1460
23
FULL
Dec 15 '28
440
230
140
+$40,938
-
+$42,644
+$127,336 +$10,635/mo
+$85,069 +$7,105/mo
28%
+$125,630
$127,062
$302.31
+1368
24
FULL
Dec 15 '28
430
240
155
+$38,688
-
+$40,612
+$127,394 +$10,639/mo
+$85,187 +$7,114/mo
28%
+$125,469
$116,812
$302.13
+1351
25
FULL
Dec 15 '28
420
230
135
+$44,125
-
+$46,052
+$128,998 +$10,773/mo
+$88,671 +$7,405/mo
29%
+$127,071
$136,375
$296.25
+1444
How this was built
6185 rolls on the real strikes of Jun 16 '28, Dec 15 '28, Jan 19 '29; 2626 pass the rules: the new short put keeps real time value, the break-even at expiry stays within 3% of today's ($563.00), max loss within 10% over the entry max loss, CC-SS within 5% (no rule in Fight mode), margin added under 15% of the account's spare room. Early assignment is judged as the put's holder would: an American put priced at its market mid, exercised where that beats holding; at most 50% odds within 12 months.
FULL rolls all three legs (a held hedge). LEAPS ONLY keeps today's hedge for Repair's ledger, charged the estimated cost of carrying it to the new expiry. The short call never rolls.
Margin: the What-if model (IBKR-calibrated scan, calib 1.21), this underlying only. IBKR's what-if on the ticket is the final word.
Income model: one 35-day call per cycle while the LEAPS cover it; spot lognormal at realized vol = call IV x (1 - 0.15); premium Black-Scholes at the call IV (67%). SAFE writes at max(CC-SS, the ~0.30-delta strike); CC-SS held at today's value (no credit for banked income, so conservative). Track record mirrored from Coverage Insights.
Positions + margin model from Repair 2026-10-30 03:50. The open covered call is untouched. Read-only: no order is placed or staged. leaps_extend v1.2.