+5 Jan 21 '28 880C-5 Jan 21 '28 1010P+5 Jan 15 '27 340P448 days leftCSV ND 148.60entry $1050 -15.2%CC-SS $1054.33 (+18% vs spot)BE-SS $1028.60 (+16% vs spot)
Spot
$890.39
CBOE 2026-10-30 13:51:10
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.
Holding as is costs about $9 a day in time decay (net theta of the three legs).
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 2026-06-17 it has banked $54,991, $10,959/mo with the open call chain marked to today's buyback; the last 90 days $6,704/mo against a $6,822/mo floor and a $13,643/mo design.
Safe calls (at or above the $1054 CC-SS) only pay a normal premium from about $954 (+7% from here).
FIGHT engine (~0.30-delta calls below the CC-SS, where an assignment locks a loss): about $9,623/mo at MU's realized keep of 83% (58 closed calls).
The record shows it fights: $10,959/mo earned against a modelled $9,623/mo, so FIGHT income counts toward the time.
Extending to Jan 19 '29 buys 12 months. Expected income to expiry with FIGHT: $146,947 if you keep, $282,436 after the roll; safe calls alone: $100,076 vs $200,559. Odds safe calls restart: 70% vs 66%.
At the record's pace the extra 12 months are worth about $131,220.
Coverage Insights: today's best pick pays only $3,302/mo: more income needs FIGHT's ladder or a rebuild in Rolls.
Today, if you keep it
Value now (mid)
-$12,540
Unrealized vs CSV ND
-$86,840
Max loss from here
$322,460
Margin it holds (IBKR)
$71,070
a close frees it; model $117,259; $117,259 on all MU here
CC-SS
$1054.33
safe call from $954
Net delta
+553 sh
notional $445,195
Theta
-$9/day
net of the three legs
Short put time value
$141.01
assignment LOW
If you close it today
Whole-life P/L
-$35,862
legs + call income, all in
Legs vs entry
-$86,840
close LC / SP / HP at mid vs CSV ND
Call income banked
+$54,991
since entry, incl. the open chain
Cash to close today
-$16,552
legs at mid + call buyback -$4,012
If you hold to expiry instead
Whole-life P/L at expiry
+$88,189
expected; -$35,862 if closed today
Chance of break-even
52%
whole-life P/L at or above zero
Max loss left
$322,460
21% of the $409,300 at entry already taken
Worst case if held
-$358,322
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 $117,259 of margin a close would free, counted dollar for dollar: holding beats closing by $6,792.
Recommended roll
BEST: cash + margin · also BEST WITH INCOME, MOST CASH
+$1,388
cash at mid today (natural -$11,075)
LEAPS ONLYJan 19 '29+12 months
SELL 5 Jan 21 '28 880C (close)
BUY 5 Jan 21 '28 1010P (close)
BUY 5 Jan 19 '29 880C (open)
SELL 5 Jan 19 '29 1060P (open)
Margin change (IBKR)
+$536
asked at 21:53; model +$1,125, this underlying only
Hedge extension (est.)
-$6,175
kept hedge carried to the new expiry
Income over the time bought
$131,220
actual: $10,959 a month x 12 months; covers 556% of the max loss it adds
Restart odds
70% → 66%
safe calls paying before expiry
Max loss from here
$346,072
+$23,612 vs keep
CC-SS
$1055.22
now $1054.33
CSV ND after
145.82
at a mid fill
Income outlook
Income history · since 2026-06-17
Banked since entry
$54,991
closed calls + open chain premium
Life-to-date pace
$10,959/mo
open chain marked to today's buyback
Last 90 days
$6,704/mo
Coverage Insights' window
Best month
$26,594
Jul 2026
Jun
$26,594
Jul
Aug
Sep
Oct
$3,120
open
life pace $10,959/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
$6,704/mo
BELOW DESIGN
floor $6,822
design $13,643
$6,704/mo earned pays the hedge but is under half of the $13,643/mo it is designed to earn
Scanner's best pick today
$3,302/mo
Banked so far
$54,991
Whole-life P/L
-$11,952
Time with a call written
86%
Call roll chain
1 rolls down to 1040, $6.24/sh
Source: Coverage Insights 2026-10-30
Market now
Call IV (~35d)
53%
CBOE 30-day 54%
Regime
NEUTRAL
RSI 51
Next earnings
2026-12-23
54 days
FIGHT rate (model)
$9,623/mo
~0.30-delta calls x 83% keep
Where safe calls start paying
safe from $954
spot $890
Spot needs +7% before a safe call pays a normal premium.
What the time buys
Expected income to expiry, FIGHT included (model)
Keep Jan 21 '28
$146,947
Roll Jan 19 '29
$282,436
Odds safe calls start paying before expiry
Keep Jan 21 '28
70%
Roll Jan 19 '29
66%
Safe calls alone (never below the CC-SS)
Keep Jan 21 '28
$100,076
Roll Jan 19 '29
$200,559
Months bought
12
Worth at the record's pace
$131,220
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 CASH
Cash at mid
+$1,388
Margin change
+$1,125
Strikes
880C / -1060P / +340P (kept)
Cash at natural
-$11,075
Hedge extension (est.)
-$6,175
Extra income, FIGHT incl. (model)
+$135,489 (+$11,316/mo)
Extra safe income (model)
+$100,483 (+$8,392/mo)
Restart odds
66% (keep 70%)
Value incl. income
+$129,576
Max loss from here
$346,072 (+$23,612)
CC-SS
$1055.22 (now $1054.33)
Net delta
+558 sh (now +553)
CSV ND after
145.82
Worst spread / min OI
5% / 46
Order legs
SELL 5 Jan 21 '28 880C (close)
BUY 5 Jan 21 '28 1010P (close)
BUY 5 Jan 19 '29 880C (open)
SELL 5 Jan 19 '29 1060P (open)
LEAST MARGIN
Largest drop (or smallest rise) in maintenance margin.
FULLJan 19 '29
Cash at mid
-$119,427
Margin change
-$18,208
Strikes
670C / -1030P / +690P
Cash at natural
-$135,500
Extra income, FIGHT incl. (model)
+$130,520 (+$10,901/mo)
Extra safe income (model)
+$90,464 (+$7,555/mo)
Restart odds
65% (keep 70%)
Value incl. income
+$29,301
Max loss from here
$276,888 (-$45,572)
CC-SS
$1071.02 (now $1054.33)
Net delta
+500 sh (now +553)
CSV ND after
387.45
Worst spread / min OI
9% / 0
Danger point
none to -60% (now none to -60%)
Order legs
SELL 5 Jan 21 '28 880C (close)
BUY 5 Jan 21 '28 1010P (close)
SELL 5 Jan 15 '27 340P (close)
BUY 5 Jan 19 '29 670C (open)
SELL 5 Jan 19 '29 1030P (open)
BUY 5 Jan 19 '29 690P (open)
LOWEST MAX LOSS
Smallest worst-case loss from here.
FULLJan 19 '29
Cash at mid
-$144,078
Margin change
-$15,574
Strikes
620C / -1020P / +730P
Cash at natural
-$160,350
Extra income, FIGHT incl. (model)
+$130,581 (+$10,906/mo)
Extra safe income (model)
+$90,663 (+$7,572/mo)
Restart odds
65% (keep 70%)
Value incl. income
+$2,077
Max loss from here
$276,538 (-$45,922)
CC-SS
$1070.74 (now $1054.33)
Net delta
+498 sh (now +553)
CSV ND after
436.75
Worst spread / min OI
8% / 1
Danger point
none to -60% (now none to -60%)
Order legs
SELL 5 Jan 21 '28 880C (close)
BUY 5 Jan 21 '28 1010P (close)
SELL 5 Jan 15 '27 340P (close)
BUY 5 Jan 19 '29 620C (open)
SELL 5 Jan 19 '29 1020P (open)
BUY 5 Jan 19 '29 730P (open)
INCOME ENGINE
Most expected income to the new expiry, FIGHT included (model).
LEAPS ONLYJan 19 '29
Cash at mid
-$100,425
Margin change
+$26,370
Strikes
460C / -1060P / +340P (kept)
Cash at natural
-$112,700
Hedge extension (est.)
-$6,175
Extra income, FIGHT incl. (model)
+$141,694 (+$11,834/mo)
Extra safe income (model)
+$111,356 (+$9,300/mo)
Restart odds
69% (keep 70%)
Value incl. income
+$8,724
Max loss from here
$447,885 (+$125,425)
CC-SS
$1028.14 (now $1054.33)
Net delta
+657 sh (now +553)
CSV ND after
349.45
Worst spread / min OI
4% / 0
Danger point
-17% (now none to -60%)
Order legs
SELL 5 Jan 21 '28 880C (close)
BUY 5 Jan 21 '28 1010P (close)
BUY 5 Jan 19 '29 460C (open)
SELL 5 Jan 19 '29 1060P (open)
SAME STRIKES
The held strikes rolled straight out (reference).
LEAPS ONLYJan 19 '29
Cash at mid
-$15,112
Margin change
-$1,980
Strikes
880C / -1010P / +340P (kept)
Cash at natural
-$27,575
Hedge extension (est.)
-$6,175
Extra income, FIGHT incl. (model)
+$134,298 (+$11,216/mo)
Extra safe income (model)
+$98,502 (+$8,227/mo)
Restart odds
66% (keep 70%)
Value incl. income
+$114,991
Max loss from here
$337,572 (+$15,112)
CC-SS
$1058.56 (now $1054.33)
Net delta
+545 sh (now +553)
CSV ND after
178.82
Worst spread / min OI
5% / 6
Danger point
none to -60% (now none to -60%)
Order legs
SELL 5 Jan 21 '28 880C (close)
BUY 5 Jan 21 '28 1010P (close)
BUY 5 Jan 19 '29 880C (open)
SELL 5 Jan 19 '29 1010P (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
880
1010
340
-
-
-
-
-
70%
-
$322,460
$1054.33
+553
BEST
LEAPS ONLY
Jan 19 '29
880
1060
340 (kept)
+$1,388
-$6,175
+$1,125
+$135,489 +$11,316/mo
+$100,483 +$8,392/mo
66%
+$129,576
$346,072
$1055.22
+558
BEST WITH INCOME
LEAPS ONLY
Jan 19 '29
880
1060
340 (kept)
+$1,388
-$6,175
+$1,125
+$135,489 +$11,316/mo
+$100,483 +$8,392/mo
66%
+$129,576
$346,072
$1055.22
+558
MOST CASH
LEAPS ONLY
Jan 19 '29
880
1060
340 (kept)
+$1,388
-$6,175
+$1,125
+$135,489 +$11,316/mo
+$100,483 +$8,392/mo
66%
+$129,576
$346,072
$1055.22
+558
LEAST MARGIN
FULL
Jan 19 '29
670
1030
690
-$119,427
-
-$18,208
+$130,520 +$10,901/mo
+$90,464 +$7,555/mo
65%
+$29,301
$276,888
$1071.02
+500
LOWEST MAX LOSS
FULL
Jan 19 '29
620
1020
730
-$144,078
-
-$15,574
+$130,581 +$10,906/mo
+$90,663 +$7,572/mo
65%
+$2,077
$276,538
$1070.74
+498
INCOME ENGINE
LEAPS ONLY
Jan 19 '29
460
1060
340 (kept)
-$100,425
-$6,175
+$26,370
+$141,694 +$11,834/mo
+$111,356 +$9,300/mo
69%
+$8,724
$447,885
$1028.14
+657
SAME STRIKES
LEAPS ONLY
Jan 19 '29
880
1010
340 (kept)
-$15,112
-$6,175
-$1,980
+$134,298 +$11,216/mo
+$98,502 +$8,227/mo
66%
+$114,991
$337,572
$1058.56
+545
Cost of waiting
The BEST roll done later instead of today (+$1,388 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% ($623)
Spot +0% ($890)
Spot +30% ($1158)
Today
448
-
+$1,388
-
2027-10-23
90
-$4,484
+$450
+$9,687
2027-12-07
45
-$6,378
-$946
+$14,984
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
910
1060
340 (kept)
+$16,138
-$2,537
+$842
+$62,119 +$12,846/mo
+$45,695 +$9,450/mo
69%
+$74,877
$331,322
$1055.23
+556
Dec 15 '28
LEAPS ONLY
Dec 15 '28
880
1060
340 (kept)
+$3,012
-$5,625
+$1,223
+$123,495 +$11,411/mo
+$91,683 +$8,472/mo
67%
+$119,660
$344,448
$1054.85
+559
Jan 19 '29
LEAPS ONLY
Jan 19 '29
890
1050
340 (kept)
+$338
-$6,175
-$162
+$134,972 +$11,272/mo
+$99,623 +$8,320/mo
66%
+$129,297
$342,122
$1056.67
+553
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
890
1050
340 (kept)
+$338
-$6,175
-$162
+$134,972 +$11,272/mo
+$99,623 +$8,320/mo
66%
+$129,297
$342,122
$1056.67
+553
2
LEAPS ONLY
Jan 19 '29
880
1060
340 (kept)
+$1,388
-$6,175
+$1,125
+$135,489 +$11,316/mo
+$100,483 +$8,392/mo
66%
+$129,576
$346,072
$1055.22
+558
3
LEAPS ONLY
Jan 19 '29
870
1060
340 (kept)
-$350
-$6,175
+$1,688
+$135,755 +$11,338/mo
+$100,926 +$8,429/mo
66%
+$127,542
$347,810
$1054.48
+561
4
LEAPS ONLY
Jan 19 '29
880
1050
340 (kept)
-$1,725
-$6,175
+$449
+$135,247 +$11,295/mo
+$100,080 +$8,358/mo
66%
+$126,899
$344,185
$1055.90
+556
5
LEAPS ONLY
Jan 19 '29
890
1040
340 (kept)
-$3,175
-$6,175
-$744
+$134,744 +$11,253/mo
+$99,244 +$8,288/mo
66%
+$126,138
$340,635
$1057.31
+551
6
LEAPS ONLY
Jan 19 '29
900
1030
340 (kept)
-$4,550
-$6,175
-$1,960
+$134,224 +$11,210/mo
+$98,379 +$8,216/mo
66%
+$125,459
$337,010
$1058.76
+546
7
LEAPS ONLY
Jan 19 '29
860
1060
340 (kept)
-$1,925
-$6,175
+$2,232
+$136,018 +$11,360/mo
+$101,364 +$8,466/mo
66%
+$125,686
$349,385
$1053.74
+563
8
LEAPS ONLY
Jan 19 '29
870
1050
340 (kept)
-$3,462
-$6,175
+$1,012
+$135,515 +$11,318/mo
+$100,527 +$8,396/mo
66%
+$124,866
$345,922
$1055.15
+558
9
LEAPS ONLY
Jan 19 '29
880
1040
340 (kept)
-$5,238
-$6,175
-$133
+$135,021 +$11,276/mo
+$99,704 +$8,327/mo
66%
+$123,742
$342,698
$1056.54
+553
10
LEAPS ONLY
Jan 19 '29
890
1030
340 (kept)
-$6,475
-$6,175
-$1,366
+$134,504 +$11,233/mo
+$98,845 +$8,255/mo
66%
+$123,220
$338,935
$1057.98
+548
11
LEAPS ONLY
Jan 19 '29
860
1050
340 (kept)
-$5,037
-$6,175
+$1,556
+$135,781 +$11,340/mo
+$100,969 +$8,433/mo
66%
+$123,013
$347,498
$1054.40
+560
12
LEAPS ONLY
Jan 19 '29
850
1060
340 (kept)
-$3,938
-$6,175
+$2,832
+$136,284 +$11,382/mo
+$101,806 +$8,502/mo
67%
+$123,339
$351,398
$1052.99
+566
13
LEAPS ONLY
Jan 19 '29
870
1040
340 (kept)
-$6,975
-$6,175
+$430
+$135,291 +$11,299/mo
+$100,154 +$8,365/mo
66%
+$121,712
$344,435
$1055.78
+555
14
LEAPS ONLY
Jan 19 '29
890
1020
340 (kept)
-$9,525
-$6,175
-$2,032
+$134,250 +$11,212/mo
+$98,423 +$8,220/mo
66%
+$120,583
$336,985
$1058.69
+545
15
LEAPS ONLY
Jan 19 '29
880
1030
340 (kept)
-$8,537
-$6,175
-$755
+$134,783 +$11,257/mo
+$99,309 +$8,294/mo
66%
+$120,826
$340,998
$1057.20
+550
16
FULL
Jan 19 '29
850
1050
340
-$17,952
-
-$3,429
+$133,728 +$11,168/mo
+$97,556 +$8,147/mo
66%
+$119,205
$360,412
$1060.14
+542
17
FULL
Jan 19 '29
860
1040
340
-$19,453
-
-$4,610
+$133,200 +$11,124/mo
+$96,679 +$8,074/mo
66%
+$118,358
$356,912
$1061.61
+537
18
FULL
Jan 19 '29
850
1050
350
-$18,815
-
-$3,875
+$133,551 +$11,154/mo
+$97,261 +$8,123/mo
66%
+$118,611
$356,275
$1060.64
+541
19
FULL
Jan 19 '29
840
1060
340
-$17,102
-
-$2,123
+$134,266 +$11,213/mo
+$98,450 +$8,222/mo
66%
+$119,286
$364,562
$1058.64
+547
20
LEAPS ONLY
Jan 19 '29
850
1050
340 (kept)
-$7,050
-$6,175
+$2,155
+$136,049 +$11,362/mo
+$101,414 +$8,470/mo
66%
+$120,668
$349,510
$1053.65
+563
21
FULL
Jan 19 '29
840
1060
350
-$17,965
-
-$2,569
+$134,092 +$11,199/mo
+$98,160 +$8,198/mo
66%
+$118,696
$360,425
$1059.13
+546
22
LEAPS ONLY
Jan 19 '29
860
1040
340 (kept)
-$8,550
-$6,175
+$974
+$135,559 +$11,321/mo
+$100,600 +$8,402/mo
66%
+$119,860
$346,010
$1055.03
+558
23
LEAPS ONLY
Jan 19 '29
840
1060
340 (kept)
-$6,200
-$6,175
+$3,462
+$136,548 +$11,404/mo
+$102,245 +$8,539/mo
67%
+$120,711
$353,660
$1052.25
+568
24
FULL
Jan 19 '29
840
1060
360
-$18,965
-
-$3,047
+$133,898 +$11,183/mo
+$97,839 +$8,171/mo
66%
+$117,980
$356,425
$1059.67
+544
25
LEAPS ONLY
Jan 19 '29
870
1030
340 (kept)
-$10,275
-$6,175
-$192
+$135,056 +$11,279/mo
+$99,763 +$8,332/mo
66%
+$118,799
$342,735
$1056.44
+553
How this was built
18081 rolls on the real strikes of Jun 16 '28, Dec 15 '28, Jan 19 '29; 8260 pass the rules: the new short put keeps real time value, the break-even at expiry stays within 3% of today's ($1028.60), 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 1.24), 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 (53%). 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.