+5 Jan 21 '28 85C-5 Jan 21 '28 100P+5 Dec 18 '26 35P448 days leftCSV ND 29.00entry $116 -39.2%CC-SS $94.63 (+34% vs spot)BE-SS $114.00 (+61% vs spot)
Spot
$70.87
CBOE 2026-10-30 01:16:58
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.
The new expiry is still wide (worst leg spread 16% of mid, open interest as low as 190): work the order at mid, never natural.
Is the time worth buying✓ EXTEND
It fights for its income: the extra time pays for the roll
Since 2026-05-14 it has banked $9,561, $1,697/mo with the open call chain marked to today's buyback; the last 90 days $494/mo against a $783/mo floor and a $1,567/mo design.
Safe calls (at or above the $95 CC-SS) only pay a normal premium from about $84 (+18% from here).
FIGHT engine (~0.30-delta calls below the CC-SS, where an assignment locks a loss): about $810/mo at INTC's realized keep of 74% (17 closed calls).
The record shows it fights: $1,697/mo earned against a modelled $810/mo, so FIGHT income counts toward the time.
Extending to Jan 19 '29 buys 12 months. Expected income to expiry with FIGHT: $12,441 if you keep, $24,368 after the roll; safe calls alone: $7,075 vs $14,552. Odds safe calls restart: 57% vs 54%.
At the record's pace the extra 12 months are worth about $20,322.
Coverage Insights: write closer: today the 50% normal 102C offers $977/mo, 2.0x what it earns.
Today, if you keep it
Value now (mid)
$1,680
Unrealized vs CSV ND
-$12,820
Max loss from here
$34,180
Margin it holds (model)
$11,420
a close frees it; $11,420 on all INTC here
CC-SS
$94.63
safe call from $84
Net delta
+560 sh
notional $35,435
Theta
+$1/day
net of the three legs
Short put time value
$0.00
assignment HIGH
If you close it today
Whole-life P/L
-$3,259
legs + call income, all in
Legs vs entry
-$12,820
close LC / SP / HP at mid vs CSV ND
Call income banked
+$9,561
since entry, incl. the open chain
Cash to close today
+$1,680
legs at mid + call buyback +$0
If you hold to expiry instead
Whole-life P/L at expiry
-$4,482
expected; -$3,259 if closed today
Chance of break-even
27%
whole-life P/L at or above zero
Max loss left
$34,180
27% of the $47,000 at entry already taken
Worst case if held
-$37,439
legs at their worst, no call income
No roll and no close: calls written every cycle to Jan 21 '28 (FIGHT included). Spot at expiry is spread lognormal at realized vol, zero drift. Holding keeps $11,420 of margin a close would free, counted dollar for dollar: holding trails closing by $12,643.
Recommended roll
BEST: cash + margin · also BEST WITH INCOME, MOST CASH, INCOME ENGINE
-$6,413
cash at mid today (natural -$8,400)
LEAPS ONLYJan 19 '29+12 months
SELL 5 Jan 21 '28 85C (close)
BUY 5 Jan 21 '28 100P (close)
BUY 5 Jan 19 '29 75C (open)
SELL 5 Jan 19 '29 90P (open)
Margin change
-$190
freed is good; IBKR: IBKR's margin engine answers only in US market hours (21:30-04:00 SGT)
Hedge extension (est.)
-$690
kept hedge carried to the new expiry
Income over the time bought
$20,322
actual: $1,697 a month x 12 months; covers 1439% of the max loss it adds
Restart odds
57% → 54%
safe calls paying before expiry
Max loss from here
$35,592
+$1,412 vs keep
CC-SS
$95.20
now $94.63
CSV ND after
41.83
at a mid fill
If you're assigned
Odds of early assignment within 12 months: 100% (exercised now).
Close everything now: +$1,680. Wait for assignment: -$597 (the put spread -$14,547, plus the 85C you keep, worth $13,950). About the same, and waiting keeps the call income.
On assignment: sell the shares and sell the hedge put (never exercise it): $14,547 more ($29 a share). Basis 58.09; the 85C alone has CC-SS $115.62 (now $94.63), break-even $143, margin about zero.
Calls afterwards (Dec 04 '26, 35d): a 85C (at or above the call) about $5,512 a cycle; a 104C (~0.30 delta) about $1,575 a cycle, but a rally can cost up to $0 a cycle. The 85C loses about $274 a month to time.
Ride the 85C: safe calls out-earn its decay.
Income outlook
Income history · since 2026-05-14
Banked since entry
$9,561
closed calls + open chain premium
Life-to-date pace
$1,697/mo
open chain marked to today's buyback
Last 90 days
$494/mo
Coverage Insights' window
Best month
$3,920
Jun 2026
May
$3,920
Jun
Jul
Aug
Sep
Oct
life pace $1,697/mo
Closed call net per calendar month (first and last months are part months). The hatched bar is the open roll chain: premium collected but not yet closed. Hover a bar for detail.
Last 90 days vs design
$494/mo
BELOW DESIGN
floor $783
design $1,567
$494/mo earned pays the hedge but is under half of the $1,567/mo it is designed to earn
Scanner's best pick today
$977/mo
Banked so far
$9,561
Whole-life P/L
-$3,272
Time with a call written
66%
Source: Coverage Insights 2026-10-30
Market now
Call IV (~35d)
64%
CBOE 30-day 61%
Regime
NEUTRAL
RSI 48
FIGHT rate (model)
$810/mo
~0.30-delta calls x 74% keep
Where safe calls start paying
safe from $84
spot $71
Spot needs +18% before a safe call pays a normal premium.
What the time buys
Expected income to expiry, FIGHT included (model)
Keep Jan 21 '28
$12,441
Roll Jan 19 '29
$24,368
Odds safe calls start paying before expiry
Keep Jan 21 '28
57%
Roll Jan 19 '29
54%
Safe calls alone (never below the CC-SS)
Keep Jan 21 '28
$7,075
Roll Jan 19 '29
$14,552
Months bought
12
Worth at the record's pace
$20,322
Engine state
FIGHTING
Roll choices on Jan 19 '29
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.
LEAPS ONLYJan 19 '29also BEST WITH INCOMEalso MOST CASHalso INCOME ENGINE
Cash at mid
-$6,413
Margin change
-$190
Strikes
75C / -90P / +35P (kept)
Cash at natural
-$8,400
Hedge extension (est.)
-$690
Extra income, FIGHT incl. (model)
+$11,927 (+$996/mo)
Extra safe income (model)
+$7,477 (+$624/mo)
Restart odds
54% (keep 57%)
Value incl. income
+$5,015
Max loss from here
$35,592 (+$1,412)
CC-SS
$95.20 (now $94.63)
Net delta
+550 sh (now +560)
CSV ND after
41.83
Worst spread / min OI
16% / 190
Danger point
-25% (now -23%)
Order legs
SELL 5 Jan 21 '28 85C (close)
BUY 5 Jan 21 '28 100P (close)
BUY 5 Jan 19 '29 75C (open)
SELL 5 Jan 19 '29 90P (open)
LEAST MARGIN
Largest drop (or smallest rise) in maintenance margin.
FULLJan 19 '29
Cash at mid
-$18,858
Margin change
-$1,537
Strikes
50C / -85P / +60P
Cash at natural
-$20,870
Extra income, FIGHT incl. (model)
+$11,914 (+$995/mo)
Extra safe income (model)
+$6,956 (+$581/mo)
Restart odds
53% (keep 57%)
Value incl. income
-$5,406
Max loss from here
$33,038 (-$1,142)
CC-SS
$96.84 (now $94.63)
Net delta
+518 sh (now +560)
CSV ND after
66.72
Worst spread / min OI
20% / 186
Danger point
none to -60% (now -23%)
Order legs
SELL 5 Jan 21 '28 85C (close)
BUY 5 Jan 21 '28 100P (close)
SELL 5 Dec 18 '26 35P (close)
BUY 5 Jan 19 '29 50C (open)
SELL 5 Jan 19 '29 85P (open)
BUY 5 Jan 19 '29 60P (open)
LOWEST MAX LOSS
Smallest worst-case loss from here.
FULLJan 19 '29
Cash at mid
-$18,620
Margin change
-$1,456
Strikes
50C / -90P / +65P
Cash at natural
-$21,070
Extra income, FIGHT incl. (model)
+$11,914 (+$995/mo)
Extra safe income (model)
+$6,937 (+$579/mo)
Restart odds
53% (keep 57%)
Value incl. income
-$5,251
Max loss from here
$32,800 (-$1,380)
CC-SS
$96.90 (now $94.63)
Net delta
+519 sh (now +560)
CSV ND after
66.24
Worst spread / min OI
16% / 403
Danger point
none to -60% (now -23%)
Order legs
SELL 5 Jan 21 '28 85C (close)
BUY 5 Jan 21 '28 100P (close)
SELL 5 Dec 18 '26 35P (close)
BUY 5 Jan 19 '29 50C (open)
SELL 5 Jan 19 '29 90P (open)
BUY 5 Jan 19 '29 65P (open)
SAME STRIKES
The held strikes rolled straight out (reference).
LEAPS ONLYJan 19 '29
Cash at mid
-$1,525
Margin change
-$169
Strikes
85C / -100P / +35P (kept)
Cash at natural
-$3,250
Hedge extension (est.)
-$690
Extra income, FIGHT incl. (model)
+$11,927 (+$996/mo)
Extra safe income (model)
+$7,430 (+$621/mo)
Restart odds
54% (keep 57%)
Value incl. income
+$9,881
Max loss from here
$35,705 (+$1,525)
CC-SS
$95.33 (now $94.63)
Net delta
+554 sh (now +560)
CSV ND after
32.05
Worst spread / min OI
10% / 83
Danger point
-25% (now -23%)
Order legs
SELL 5 Jan 21 '28 85C (close)
BUY 5 Jan 21 '28 100P (close)
BUY 5 Jan 19 '29 85C (open)
SELL 5 Jan 19 '29 100P (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
Jan 21 '28
85
100
35
-
-
-
-
-
57%
-
$34,180
$94.63
+560
BEST
LEAPS ONLY
Jan 19 '29
75
90
35 (kept)
-$6,413
-$690
-$190
+$11,927 +$996/mo
+$7,477 +$624/mo
54%
+$5,015
$35,592
$95.20
+550
BEST WITH INCOME
LEAPS ONLY
Jan 19 '29
75
90
35 (kept)
-$6,413
-$690
-$190
+$11,927 +$996/mo
+$7,477 +$624/mo
54%
+$5,015
$35,592
$95.20
+550
MOST CASH
LEAPS ONLY
Jan 19 '29
75
90
35 (kept)
-$6,413
-$690
-$190
+$11,927 +$996/mo
+$7,477 +$624/mo
54%
+$5,015
$35,592
$95.20
+550
LEAST MARGIN
FULL
Jan 19 '29
50
85
60
-$18,858
-
-$1,537
+$11,914 +$995/mo
+$6,956 +$581/mo
53%
-$5,406
$33,038
$96.84
+518
LOWEST MAX LOSS
FULL
Jan 19 '29
50
90
65
-$18,620
-
-$1,456
+$11,914 +$995/mo
+$6,937 +$579/mo
53%
-$5,251
$32,800
$96.90
+519
INCOME ENGINE
LEAPS ONLY
Jan 19 '29
75
90
35 (kept)
-$6,413
-$690
-$190
+$11,927 +$996/mo
+$7,477 +$624/mo
54%
+$5,015
$35,592
$95.20
+550
SAME STRIKES
LEAPS ONLY
Jan 19 '29
85
100
35 (kept)
-$1,525
-$690
-$169
+$11,927 +$996/mo
+$7,430 +$621/mo
54%
+$9,881
$35,705
$95.33
+554
Cost of waiting
The BEST roll done later instead of today (-$6,413 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% ($50)
Spot +0% ($71)
Spot +30% ($92)
Today
448
-
-$6,413
-
2027-10-23
90
-$7,484
-$7,579
-$6,437
2027-12-07
45
-$7,559
-$8,106
-$6,464
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
LEAPS ONLY
Jun 16 '28
65
80
35 (kept)
-$11,238
-$390
-$85
+$5,380 +$1,113/mo
+$3,439 +$711/mo
56%
-$6,162
$35,418
$94.65
+550
Dec 15 '28
LEAPS ONLY
Dec 15 '28
75
90
35 (kept)
-$6,400
-$615
-$182
+$10,830 +$1,001/mo
+$6,781 +$627/mo
54%
+$3,997
$35,580
$95.17
+550
Jan 19 '29
LEAPS ONLY
Jan 19 '29
75
90
35 (kept)
-$6,413
-$690
-$190
+$11,927 +$996/mo
+$7,477 +$624/mo
54%
+$5,015
$35,592
$95.20
+550
Top 25 candidates on Jan 19 '29
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
LEAPS ONLY
Jan 19 '29
75
90
35 (kept)
-$6,413
-$690
-$190
+$11,927 +$996/mo
+$7,477 +$624/mo
54%
+$5,015
$35,592
$95.20
+550
2
FULL
Jan 19 '29
70
90
35
-$8,720
-
-$589
+$11,924 +$996/mo
+$7,218 +$603/mo
53%
+$3,792
$37,900
$95.98
+539
3
LEAPS ONLY
Jan 19 '29
70
90
35 (kept)
-$7,563
-$690
+$138
+$11,928 +$996/mo
+$7,696 +$643/mo
55%
+$3,537
$36,742
$94.58
+562
4
LEAPS ONLY
Jan 19 '29
70
87.5
35 (kept)
-$8,413
-$690
+$25
+$11,928 +$996/mo
+$7,612 +$636/mo
54%
+$2,800
$36,342
$94.82
+555
5
LEAPS ONLY
Jan 19 '29
70
85
35 (kept)
-$8,925
-$690
-$266
+$11,927 +$996/mo
+$7,502 +$627/mo
54%
+$2,579
$35,605
$95.13
+549
6
FULL
Jan 19 '29
65
90
35
-$10,158
-
-$219
+$11,927 +$996/mo
+$7,433 +$621/mo
54%
+$1,989
$39,338
$95.32
+551
7
FULL
Jan 19 '29
65
90
45
-$11,195
-
-$1,131
+$11,920 +$995/mo
+$7,095 +$593/mo
53%
+$1,856
$35,375
$96.38
+532
8
FULL
Jan 19 '29
65
90
40
-$10,685
-
-$552
+$11,925 +$996/mo
+$7,257 +$606/mo
53%
+$1,791
$37,365
$95.85
+542
9
LEAPS ONLY
Jan 19 '29
65
90
35 (kept)
-$9,000
-$690
+$508
+$11,927 +$996/mo
+$7,905 +$660/mo
55%
+$1,729
$38,180
$93.98
+573
10
FULL
Jan 19 '29
65
87.5
35
-$11,008
-
-$332
+$11,927 +$996/mo
+$7,344 +$613/mo
54%
+$1,252
$38,938
$95.57
+544
11
FULL
Jan 19 '29
65
87.5
40
-$11,535
-
-$665
+$11,922 +$996/mo
+$7,179 +$600/mo
53%
+$1,052
$36,965
$96.11
+536
12
FULL
Jan 19 '29
65
85
35
-$11,520
-
-$624
+$11,924 +$996/mo
+$7,240 +$605/mo
53%
+$1,028
$38,200
$95.90
+538
13
LEAPS ONLY
Jan 19 '29
65
87.5
35 (kept)
-$9,850
-$690
+$395
+$11,927 +$996/mo
+$7,825 +$654/mo
55%
+$993
$37,780
$94.21
+567
14
LEAPS ONLY
Jan 19 '29
65
85
35 (kept)
-$10,363
-$690
+$103
+$11,928 +$996/mo
+$7,721 +$645/mo
55%
+$772
$37,042
$94.51
+560
15
LEAPS ONLY
Jan 19 '29
65
80
35 (kept)
-$11,700
-$690
-$254
+$11,928 +$996/mo
+$7,526 +$629/mo
54%
-$208
$35,880
$95.06
+547
16
FULL
Jan 19 '29
55
90
35
-$13,095
-
+$495
+$11,927 +$996/mo
+$7,848 +$655/mo
55%
-$1,662
$42,275
$94.14
+573
17
FULL
Jan 19 '29
55
90
45
-$14,133
-
-$417
+$11,927 +$996/mo
+$7,503 +$627/mo
54%
-$1,788
$38,312
$95.13
+554
18
FULL
Jan 19 '29
55
90
40
-$13,623
-
+$162
+$11,928 +$996/mo
+$7,679 +$641/mo
54%
-$1,857
$40,302
$94.63
+564
19
LEAPS ONLY
Jan 19 '29
55
90
35 (kept)
-$11,938
-$690
+$1,222
+$11,928 +$996/mo
+$8,346 +$697/mo
56%
-$1,921
$41,118
$92.89
+595
20
FULL
Jan 19 '29
55
90
50
-$14,833
-
-$884
+$11,926 +$996/mo
+$7,299 +$610/mo
54%
-$2,022
$36,512
$95.71
+544
21
FULL
Jan 19 '29
55
90
55
-$15,608
-
-$1,290
+$11,920 +$996/mo
+$7,112 +$594/mo
53%
-$2,397
$34,788
$96.33
+532
22
FULL
Jan 19 '29
55
87.5
35
-$13,945
-
+$381
+$11,928 +$996/mo
+$7,768 +$649/mo
55%
-$2,399
$41,875
$94.37
+566
23
FULL
Jan 19 '29
55
87.5
45
-$14,983
-
-$531
+$11,927 +$996/mo
+$7,415 +$619/mo
54%
-$2,525
$37,912
$95.37
+548
24
FULL
Jan 19 '29
55
87.5
40
-$14,473
-
+$49
+$11,928 +$996/mo
+$7,595 +$634/mo
54%
-$2,593
$39,902
$94.86
+558
25
FULL
Jan 19 '29
55
85
35
-$14,458
-
+$90
+$11,928 +$996/mo
+$7,662 +$640/mo
54%
-$2,620
$41,138
$94.67
+560
How this was built
555 rolls on the real strikes of Jun 16 '28, Dec 15 '28, Jan 19 '29; 544 pass the rules: the new short put keeps real time value, the break-even at expiry stays within 3% of today's ($114.00), 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 1.27), 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 (64%). 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.