+5 Jan 21 '28 85C-5 Jan 21 '28 100P+5 Dec 18 '26 35P448 days leftCSV ND 29.00entry $116 -44.1%CC-SS $117.22 (+80% vs spot)BE-SS $114.00 (+75% vs spot)
Spot
$65.09
CBOE 2026-10-30 13:50:07
When to roll⏸ WAIT
Wait until 23 Oct 2027
448 days left. Nothing forces a roll before 23 Oct 2027 (90 days before expiry): waiting keeps today's structure and costs nothing extra in spread.
The new expiry is still wide (worst leg spread 12% of mid, open interest as low as 80): work the order at mid, never natural.
Re-run then, or sooner after a 15%+ drop (a lower price makes extending cheaper and more urgent).
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 $117 CC-SS) only pay a normal premium from about $104 (+59% from here).
FIGHT engine (~0.30-delta calls below the CC-SS, where an assignment locks a loss): about $736/mo at INTC's realized keep of 74% (17 closed calls).
The record shows it fights: $1,697/mo earned against a modelled $736/mo, so FIGHT income counts toward the time.
Extending to Jan 19 '29 buys 12 months. Expected income to expiry with FIGHT: $10,737 if you keep, $21,562 after the roll; safe calls alone: $3,144 vs $9,007. Odds safe calls restart: 27% vs 33%.
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)
-$13,785
Unrealized vs CSV ND
-$28,285
Max loss from here
$18,715
Margin it holds (IBKR)
$10,764
a close frees it; model $11,155; $11,155 on all INTC here
CC-SS
$117.22
safe call from $104
Net delta
+574 sh
notional $32,548
Theta
-$3/day
net of the three legs
Short put time value
$4.52
assignment LOW
If you close it today
Whole-life P/L
-$18,724
legs + call income, all in
Legs vs entry
-$28,285
close LC / SP / HP at mid vs CSV ND
Call income banked
+$9,561
since entry, incl. the open chain
Cash to close today
-$13,785
legs at mid + call buyback +$0
If you hold to expiry instead
Whole-life P/L at expiry
-$9,183
expected; -$18,724 if closed today
Chance of break-even
22%
whole-life P/L at or above zero
Max loss left
$18,715
60% 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 $11,155 of margin a close would free, counted dollar for dollar: holding trails closing by $1,615.
Recommended roll
BEST: cash + margin
-$312
cash at mid today (natural -$2,000)
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 85C (open)
SELL 5 Jan 19 '29 105P (open)
Margin change (IBKR)
+$809
asked at 21:53; model +$555, this underlying only
Hedge extension (est.)
-$860
kept hedge carried to the new expiry
Income over the time bought
$20,322
actual: $1,697 a month x 12 months; covers 723% of the max loss it adds
Restart odds
27% → 33%
safe calls paying before expiry
Max loss from here
$21,528
+$2,812 vs keep
CC-SS
$117.15
now $117.22
CSV ND after
29.62
at a mid fill
If you're assigned
Odds of early assignment within 12 months: 70% The holder exercises once the stock is at or below $44 in 6 months..
Close everything now: -$13,785. Wait for assignment: -$11,525 (the put spread -$17,412, plus the 85C you keep, worth $5,888). About the same, and waiting keeps the call income.
On assignment: sell the shares and sell the hedge put (never exercise it): $17,412 more ($35 a share). Basis 63.83; the 85C alone has CC-SS $137.81 (now $117.22), break-even $149, margin about zero.
Calls afterwards (Dec 04 '26, 35d): a 85C (at or above the call) about $362 a cycle; a 75C (~0.30 delta) about $1,012 a cycle, but a rally can cost up to $5,000 a cycle. The 85C loses about $258 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 63%
Regime
OVERSOLD
RSI 39
Next earnings
2027-01-28
90 days
FIGHT rate (model)
$736/mo
~0.30-delta calls x 74% keep
Where safe calls start paying
safe from $104
spot $65
Spot needs +59% before a safe call pays a normal premium.
What the time buys
Expected income to expiry, FIGHT included (model)
Keep Jan 21 '28
$10,737
Roll Jan 19 '29
$21,562
Odds safe calls start paying before expiry
Keep Jan 21 '28
27%
Roll Jan 19 '29
33%
Safe calls alone (never below the CC-SS)
Keep Jan 21 '28
$3,144
Roll Jan 19 '29
$9,007
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 '29
Cash at mid
-$312
Margin change
+$555
Strikes
85C / -105P / +35P (kept)
Cash at natural
-$2,000
Hedge extension (est.)
-$860
Extra income, FIGHT incl. (model)
+$10,825 (+$904/mo)
Extra safe income (model)
+$5,863 (+$490/mo)
Restart odds
33% (keep 27%)
Value incl. income
+$9,097
Max loss from here
$21,528 (+$2,812)
CC-SS
$117.15 (now $117.22)
Net delta
+590 sh (now +574)
CSV ND after
29.62
Worst spread / min OI
12% / 80
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 105P (open)
BEST WITH INCOME
Cash + margin + the extra income the time buys, FIGHT included (model).
LEAPS ONLYJan 19 '29also MOST CASH
Cash at mid
+$200
Margin change
+$357
Strikes
87.5C / -105P / +35P (kept)
Cash at natural
-$1,475
Hedge extension (est.)
-$860
Extra income, FIGHT incl. (model)
+$10,801 (+$902/mo)
Extra safe income (model)
+$5,800 (+$484/mo)
Restart odds
32% (keep 27%)
Value incl. income
+$9,784
Max loss from here
$21,015 (+$2,300)
CC-SS
$117.81 (now $117.22)
Net delta
+583 sh (now +574)
CSV ND after
28.60
Worst spread / min OI
12% / 35
Danger point
none to -60% (now none to -60%)
Order legs
SELL 5 Jan 21 '28 85C (close)
BUY 5 Jan 21 '28 100P (close)
BUY 5 Jan 19 '29 87.5C (open)
SELL 5 Jan 19 '29 105P (open)
LEAST MARGIN
Largest drop (or smallest rise) in maintenance margin.
FULLJan 19 '29also LOWEST MAX LOSS
Cash at mid
-$12,785
Margin change
-$1,434
Strikes
60C / -105P / +65P
Cash at natural
-$14,495
Extra income, FIGHT incl. (model)
+$10,703 (+$894/mo)
Extra safe income (model)
+$5,528 (+$462/mo)
Restart odds
31% (keep 27%)
Value incl. income
-$648
Max loss from here
$19,000 (+$285)
CC-SS
$120.46 (now $117.22)
Net delta
+512 sh (now +574)
CSV ND after
54.57
Worst spread / min OI
7% / 80
Danger point
none to -60% (now none to -60%)
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 60C (open)
SELL 5 Jan 19 '29 105P (open)
BUY 5 Jan 19 '29 65P (open)
INCOME ENGINE
Most expected income to the new expiry, FIGHT included (model).
LEAPS ONLYJan 19 '29
Cash at mid
-$10,300
Margin change
+$3,935
Strikes
35C / -105P / +35P (kept)
Cash at natural
-$11,950
Hedge extension (est.)
-$860
Extra income, FIGHT incl. (model)
+$11,090 (+$926/mo)
Extra safe income (model)
+$6,706 (+$560/mo)
Restart odds
38% (keep 27%)
Value incl. income
-$4,005
Max loss from here
$31,515 (+$12,800)
CC-SS
$107.49 (now $117.22)
Net delta
+742 sh (now +574)
CSV ND after
49.60
Worst spread / min OI
7% / 80
Danger point
none to -60% (now none to -60%)
Order legs
SELL 5 Jan 21 '28 85C (close)
BUY 5 Jan 21 '28 100P (close)
BUY 5 Jan 19 '29 35C (open)
SELL 5 Jan 19 '29 105P (open)
SAME STRIKES
The held strikes rolled straight out (reference).
LEAPS ONLYJan 19 '29
Cash at mid
-$2,400
Margin change
+$325
Strikes
85C / -100P / +35P (kept)
Cash at natural
-$4,000
Hedge extension (est.)
-$860
Extra income, FIGHT incl. (model)
+$10,788 (+$901/mo)
Extra safe income (model)
+$5,765 (+$481/mo)
Restart odds
32% (keep 27%)
Value incl. income
+$7,202
Max loss from here
$21,115 (+$2,400)
CC-SS
$118.16 (now $117.22)
Net delta
+574 sh (now +574)
CSV ND after
33.80
Worst spread / min OI
12% / 87
Danger point
none to -60% (now none to -60%)
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
-
-
-
-
-
27%
-
$18,715
$117.22
+574
BEST
LEAPS ONLY
Jan 19 '29
85
105
35 (kept)
-$312
-$860
+$555
+$10,825 +$904/mo
+$5,863 +$490/mo
33%
+$9,097
$21,528
$117.15
+590
BEST WITH INCOME
LEAPS ONLY
Jan 19 '29
87.5
105
35 (kept)
+$200
-$860
+$357
+$10,801 +$902/mo
+$5,800 +$484/mo
32%
+$9,784
$21,015
$117.81
+583
MOST CASH
LEAPS ONLY
Jan 19 '29
87.5
105
35 (kept)
+$200
-$860
+$357
+$10,801 +$902/mo
+$5,800 +$484/mo
32%
+$9,784
$21,015
$117.81
+583
LEAST MARGIN
FULL
Jan 19 '29
60
105
65
-$12,785
-
-$1,434
+$10,703 +$894/mo
+$5,528 +$462/mo
31%
-$648
$19,000
$120.46
+512
LOWEST MAX LOSS
FULL
Jan 19 '29
60
105
65
-$12,785
-
-$1,434
+$10,703 +$894/mo
+$5,528 +$462/mo
31%
-$648
$19,000
$120.46
+512
INCOME ENGINE
LEAPS ONLY
Jan 19 '29
35
105
35 (kept)
-$10,300
-$860
+$3,935
+$11,090 +$926/mo
+$6,706 +$560/mo
38%
-$4,005
$31,515
$107.49
+742
SAME STRIKES
LEAPS ONLY
Jan 19 '29
85
100
35 (kept)
-$2,400
-$860
+$325
+$10,788 +$901/mo
+$5,765 +$481/mo
32%
+$7,202
$21,115
$118.16
+574
Cost of waiting
The BEST roll done later instead of today (-$312 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% ($46)
Spot +0% ($65)
Spot +30% ($85)
Today
448
-
-$312
-
2027-10-23
90
-$187
-$841
-$426
2027-12-07
45
-$140
-$1,171
-$633
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
75
90
35 (kept)
-$6,562
-$485
+$261
+$4,876 +$1,008/mo
+$2,504 +$518/mo
30%
-$2,433
$20,278
$117.41
+572
Dec 15 '28
LEAPS ONLY
Dec 15 '28
82.5
100
35 (kept)
-$2,675
-$698
+$455
+$9,816 +$907/mo
+$5,251 +$485/mo
32%
+$5,989
$21,390
$117.52
+581
Jan 19 '29
LEAPS ONLY
Jan 19 '29
87.5
105
35 (kept)
+$200
-$860
+$357
+$10,801 +$902/mo
+$5,800 +$484/mo
32%
+$9,784
$21,015
$117.81
+583
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
87.5
105
35 (kept)
+$200
-$860
+$357
+$10,801 +$902/mo
+$5,800 +$484/mo
32%
+$9,784
$21,015
$117.81
+583
2
LEAPS ONLY
Jan 19 '29
85
105
35 (kept)
-$312
-$860
+$555
+$10,825 +$904/mo
+$5,863 +$490/mo
33%
+$9,097
$21,528
$117.15
+590
3
LEAPS ONLY
Jan 19 '29
80
105
35 (kept)
-$750
-$860
+$782
+$10,863 +$907/mo
+$5,966 +$498/mo
33%
+$8,471
$21,965
$116.08
+603
4
FULL
Jan 19 '29
80
105
35
-$2,722
-
-$199
+$10,768 +$899/mo
+$5,713 +$477/mo
32%
+$8,244
$23,938
$118.68
+558
5
FULL
Jan 19 '29
80
105
40
-$3,548
-
-$567
+$10,733 +$896/mo
+$5,613 +$469/mo
31%
+$7,753
$22,262
$119.65
+542
6
LEAPS ONLY
Jan 19 '29
75
105
35 (kept)
-$1,550
-$860
+$1,109
+$10,904 +$911/mo
+$6,072 +$507/mo
34%
+$7,385
$22,765
$114.95
+617
7
FULL
Jan 19 '29
75
105
35
-$3,522
-
+$128
+$10,813 +$903/mo
+$5,832 +$487/mo
32%
+$7,163
$24,738
$117.47
+572
8
FULL
Jan 19 '29
75
105
40
-$4,348
-
-$241
+$10,778 +$900/mo
+$5,740 +$479/mo
32%
+$6,671
$23,062
$118.41
+556
9
LEAPS ONLY
Jan 19 '29
80
100
35 (kept)
-$2,838
-$860
+$552
+$10,828 +$904/mo
+$5,873 +$490/mo
33%
+$6,579
$21,552
$117.06
+588
10
FULL
Jan 19 '29
75
105
45
-$5,285
-
-$944
+$10,741 +$897/mo
+$5,635 +$471/mo
31%
+$6,400
$21,500
$119.44
+539
11
LEAPS ONLY
Jan 19 '29
70
105
35 (kept)
-$2,212
-$860
+$1,403
+$10,941 +$914/mo
+$6,172 +$515/mo
34%
+$6,466
$23,428
$113.86
+632
12
FULL
Jan 19 '29
70
105
35
-$4,185
-
+$422
+$10,854 +$907/mo
+$5,944 +$496/mo
33%
+$6,248
$25,400
$116.32
+587
13
FULL
Jan 19 '29
75
105
50
-$6,372
-
-$1,365
+$10,698 +$893/mo
+$5,515 +$461/mo
31%
+$5,690
$20,088
$120.59
+521
14
LEAPS ONLY
Jan 19 '29
80
97.5
35 (kept)
-$3,825
-$860
+$375
+$10,809 +$903/mo
+$5,820 +$486/mo
32%
+$5,749
$21,290
$117.60
+580
15
FULL
Jan 19 '29
70
105
40
-$5,010
-
+$53
+$10,822 +$904/mo
+$5,856 +$489/mo
32%
+$5,759
$23,725
$117.23
+571
16
FULL
Jan 19 '29
70
105
45
-$5,948
-
-$650
+$10,785 +$901/mo
+$5,758 +$481/mo
32%
+$5,488
$22,162
$118.23
+554
17
LEAPS ONLY
Jan 19 '29
75
100
35 (kept)
-$3,638
-$860
+$879
+$10,871 +$908/mo
+$5,985 +$500/mo
33%
+$5,494
$22,352
$115.88
+602
18
FULL
Jan 19 '29
75
100
35
-$5,610
-
-$102
+$10,776 +$900/mo
+$5,734 +$479/mo
32%
+$5,268
$24,325
$118.48
+557
19
LEAPS ONLY
Jan 19 '29
65
105
35 (kept)
-$3,262
-$860
+$1,776
+$10,972 +$916/mo
+$6,264 +$523/mo
35%
+$5,074
$24,478
$112.80
+647
20
FULL
Jan 19 '29
75
100
40
-$6,435
-
-$471
+$10,741 +$897/mo
+$5,635 +$471/mo
31%
+$4,777
$22,650
$119.44
+541
21
FULL
Jan 19 '29
70
105
50
-$7,035
-
-$1,071
+$10,745 +$897/mo
+$5,646 +$471/mo
31%
+$4,780
$20,750
$119.34
+536
22
FULL
Jan 19 '29
65
105
35
-$5,235
-
+$795
+$10,895 +$910/mo
+$6,049 +$505/mo
34%
+$4,865
$26,450
$115.20
+602
23
LEAPS ONLY
Jan 19 '29
75
97.5
35 (kept)
-$4,625
-$860
+$701
+$10,851 +$906/mo
+$5,935 +$496/mo
33%
+$4,665
$22,090
$116.41
+594
24
FULL
Jan 19 '29
75
97.5
35
-$6,598
-
-$279
+$10,755 +$898/mo
+$5,676 +$474/mo
32%
+$4,437
$24,062
$119.04
+549
25
LEAPS ONLY
Jan 19 '29
70
100
35 (kept)
-$4,300
-$860
+$1,173
+$10,911 +$911/mo
+$6,090 +$509/mo
34%
+$4,578
$23,015
$114.76
+617
How this was built
965 rolls on the real strikes of Jun 16 '28, Dec 15 '28, Jan 19 '29; 798 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 1.34), 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 21:34. The open covered call is untouched. Read-only: no order is placed or staged. leaps_extend v1.2.