+2 Jan 21 '28 970C-2 Jan 21 '28 1110P+2 Jan 15 '27 390P448 days leftCSV ND 250.00entry $1235 -27.9%CC-SS $1241.43 (+39% vs spot)BE-SS $1220.00 (+37% vs spot)
Spot
$890.39
CBOE 2026-10-30 13:51:10
When to roll✓ OPPORTUNITY
A roll pays you and frees margin today
A roll exists today that pays you $240 and frees $396 of margin while keeping the upside: no reason to wait for it.
Holding as is costs about $9 a day in time decay (net theta of the three legs).
Is the time worth buying✓ EXTEND
It fights for its income: the extra time pays for the roll
Since 2026-06-26 it has banked $29,350, $6,346/mo with the open call chain marked to today's buyback; the last 90 days $3,187/mo against a $3,233/mo floor and a $6,467/mo design.
Safe calls (at or above the $1241 CC-SS) only pay a normal premium from about $1123 (+26% from here).
FIGHT engine (~0.30-delta calls below the CC-SS, where an assignment locks a loss): about $3,849/mo at MU's realized keep of 83% (58 closed calls).
The record shows it fights: $6,346/mo earned against a modelled $3,849/mo, so FIGHT income counts toward the time.
Extending to Jan 19 '29 buys 12 months. Expected income to expiry with FIGHT: $56,182 if you keep, $109,165 after the roll; safe calls alone: $21,660 vs $48,056. Odds safe calls restart: 47% vs 49%.
At the record's pace the extra 12 months are worth about $75,988.
Coverage Insights: today's best pick pays only $347/mo: more income needs FIGHT's ladder or a rebuild in Rolls.
Today, if you keep it
Value now (mid)
-$25,012
Unrealized vs CSV ND
-$75,012
Max loss from here
$118,988
Margin it holds (IBKR)
$42,609
a close frees it; model $49,877; $49,877 on all MU here
CC-SS
$1241.43
safe call from $1123
Net delta
+222 sh
notional $178,078
Theta
-$9/day
net of the three legs
Short put time value
$108.31
assignment LOW
If you close it today
Whole-life P/L
-$47,747
legs + call income, all in
Legs vs entry
-$75,012
close LC / SP / HP at mid vs CSV ND
Call income banked
+$29,350
since entry, incl. the open chain
Cash to close today
-$27,097
legs at mid + call buyback -$2,085
If you hold to expiry instead
Whole-life P/L at expiry
-$1,272
expected; -$47,747 if closed today
Chance of break-even
36%
whole-life P/L at or above zero
Max loss left
$118,988
39% of the $194,000 at entry already taken
Worst case if held
-$166,735
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 $49,877 of margin a close would free, counted dollar for dollar: holding trails closing by $3,402.
Recommended roll
BEST: cash + margin
+$2,775
cash at mid today (natural -$2,430)
LEAPS ONLYJan 19 '29+12 months
SELL 2 Jan 21 '28 970C (close)
BUY 2 Jan 21 '28 1110P (close)
BUY 2 Jan 19 '29 1010C (open)
SELL 2 Jan 19 '29 1160P (open)
Margin change (IBKR)
-$90
asked at 21:53; model -$134, this underlying only
Hedge extension (est.)
-$3,315
kept hedge carried to the new expiry
Income over the time bought
$75,988
actual: $6,346 a month x 12 months; covers 1052% of the max loss it adds
Restart odds
47% → 49%
safe calls paying before expiry
Max loss from here
$126,213
+$7,225 vs keep
CC-SS
$1249.39
now $1241.43
CSV ND after
236.12
at a mid fill
If you're assigned
Odds of early assignment within 12 months: 53% The holder exercises once the stock is at or below $519 in 6 months..
Close everything now: -$25,012. Wait for assignment: -$3,349 (the put spread -$43,639, plus the 970C you keep, worth $40,290). About the same, and waiting keeps the call income.
On assignment: sell the shares and sell the hedge put (never exercise it): $43,639 more ($218 a share). Basis 468.20; the 970C alone has CC-SS $1280.72 (now $1241.43), break-even $1,438, margin about zero.
Calls afterwards (Dec 04 '26, 35d): a 970C (at or above the call) about $6,065 a cycle; a 990C (~0.30 delta) about $4,995 a cycle, but a rally can cost up to $0 a cycle. The 970C loses about $1,243 a month to time.
Ride the 970C: safe calls out-earn its decay.
Income outlook
Income history · since 2026-06-26
Banked since entry
$29,350
closed calls + open chain premium
Life-to-date pace
$6,346/mo
open chain marked to today's buyback
Last 90 days
$3,187/mo
Coverage Insights' window
Best month
$14,413
Jul 2026
Jun
$14,413
Jul
Aug
Sep
Oct
$422
open
life pace $6,346/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
$3,187/mo
BELOW DESIGN
floor $3,233
design $6,467
$3,187/mo earned pays the hedge but is under half of the $6,467/mo it is designed to earn
Scanner's best pick today
$347/mo
Banked so far
$29,350
Whole-life P/L
-$38,419
Time with a call written
84%
Call roll chain
2 rolls down to 1080, $2.11/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)
$3,849/mo
~0.30-delta calls x 83% keep
Where safe calls start paying
safe from $1123
spot $890
Spot needs +26% before a safe call pays a normal premium.
What the time buys
Expected income to expiry, FIGHT included (model)
Keep Jan 21 '28
$56,182
Roll Jan 19 '29
$109,165
Odds safe calls start paying before expiry
Keep Jan 21 '28
47%
Roll Jan 19 '29
49%
Safe calls alone (never below the CC-SS)
Keep Jan 21 '28
$21,660
Roll Jan 19 '29
$48,056
Months bought
12
Worth at the record's pace
$75,988
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
+$2,775
Margin change
-$134
Strikes
1010C / -1160P / +390P (kept)
Cash at natural
-$2,430
Hedge extension (est.)
-$3,315
Extra income, FIGHT incl. (model)
+$52,990 (+$4,426/mo)
Extra safe income (model)
+$26,512 (+$2,214/mo)
Restart odds
49% (keep 47%)
Value incl. income
+$52,584
Max loss from here
$126,213 (+$7,225)
CC-SS
$1249.39 (now $1241.43)
Net delta
+221 sh (now +222)
CSV ND after
236.12
Worst spread / min OI
6% / 3
Order legs
SELL 2 Jan 21 '28 970C (close)
BUY 2 Jan 21 '28 1110P (close)
BUY 2 Jan 19 '29 1010C (open)
SELL 2 Jan 19 '29 1160P (open)
BEST WITH INCOME
Cash + margin + the extra income the time buys, FIGHT included (model).
LEAPS ONLYJan 19 '29also MOST CASH
Cash at mid
+$3,555
Margin change
-$396
Strikes
1020C / -1160P / +390P (kept)
Cash at natural
-$1,450
Hedge extension (est.)
-$3,315
Extra income, FIGHT incl. (model)
+$52,982 (+$4,425/mo)
Extra safe income (model)
+$26,396 (+$2,204/mo)
Restart odds
49% (keep 47%)
Value incl. income
+$53,619
Max loss from here
$125,433 (+$6,445)
CC-SS
$1250.92 (now $1241.43)
Net delta
+220 sh (now +222)
CSV ND after
232.22
Worst spread / min OI
5% / 3
Danger point
none to -60% (now none to -60%)
Order legs
SELL 2 Jan 21 '28 970C (close)
BUY 2 Jan 21 '28 1110P (close)
BUY 2 Jan 19 '29 1020C (open)
SELL 2 Jan 19 '29 1160P (open)
LEAST MARGIN
Largest drop (or smallest rise) in maintenance margin.
FULLJan 19 '29
Cash at mid
-$39,272
Margin change
-$8,478
Strikes
810C / -1160P / +710P
Cash at natural
-$45,682
Extra income, FIGHT incl. (model)
+$52,927 (+$4,420/mo)
Extra safe income (model)
+$24,886 (+$2,078/mo)
Restart odds
47% (keep 47%)
Value incl. income
+$22,133
Max loss from here
$104,260 (-$14,728)
CC-SS
$1275.75 (now $1241.43)
Net delta
+198 sh (now +222)
CSV ND after
446.36
Worst spread / min OI
9% / 3
Danger point
none to -60% (now none to -60%)
Order legs
SELL 2 Jan 21 '28 970C (close)
BUY 2 Jan 21 '28 1110P (close)
SELL 2 Jan 15 '27 390P (close)
BUY 2 Jan 19 '29 810C (open)
SELL 2 Jan 19 '29 1160P (open)
BUY 2 Jan 19 '29 710P (open)
LOWEST MAX LOSS
Smallest worst-case loss from here.
FULLJan 19 '29
Cash at mid
-$65,282
Margin change
-$7,714
Strikes
680C / -1160P / +850P
Cash at natural
-$72,162
Extra income, FIGHT incl. (model)
+$52,922 (+$4,420/mo)
Extra safe income (model)
+$24,827 (+$2,073/mo)
Restart odds
47% (keep 47%)
Value incl. income
-$4,646
Max loss from here
$102,270 (-$16,718)
CC-SS
$1276.80 (now $1241.43)
Net delta
+195 sh (now +222)
CSV ND after
576.41
Worst spread / min OI
6% / 3
Danger point
none to -60% (now none to -60%)
Order legs
SELL 2 Jan 21 '28 970C (close)
BUY 2 Jan 21 '28 1110P (close)
SELL 2 Jan 15 '27 390P (close)
BUY 2 Jan 19 '29 680C (open)
SELL 2 Jan 19 '29 1160P (open)
BUY 2 Jan 19 '29 850P (open)
INCOME ENGINE
Most expected income to the new expiry, FIGHT included (model).
LEAPS ONLYJan 19 '29
Cash at mid
-$34,975
Margin change
+$11,294
Strikes
560C / -1160P / +390P (kept)
Cash at natural
-$40,190
Hedge extension (est.)
-$3,315
Extra income, FIGHT incl. (model)
+$53,168 (+$4,440/mo)
Extra safe income (model)
+$31,528 (+$2,633/mo)
Restart odds
54% (keep 47%)
Value incl. income
+$3,585
Max loss from here
$163,963 (+$44,975)
CC-SS
$1192.19 (now $1241.43)
Net delta
+264 sh (now +222)
CSV ND after
424.87
Worst spread / min OI
3% / 3
Danger point
-20% (now none to -60%)
Order legs
SELL 2 Jan 21 '28 970C (close)
BUY 2 Jan 21 '28 1110P (close)
BUY 2 Jan 19 '29 560C (open)
SELL 2 Jan 19 '29 1160P (open)
SAME STRIKES
The held strikes rolled straight out (reference).
LEAPS ONLYJan 19 '29
Cash at mid
-$6,615
Margin change
-$398
Strikes
970C / -1110P / +390P (kept)
Cash at natural
-$11,660
Hedge extension (est.)
-$3,315
Extra income, FIGHT incl. (model)
+$52,986 (+$4,425/mo)
Extra safe income (model)
+$26,446 (+$2,209/mo)
Restart odds
49% (keep 47%)
Value incl. income
+$43,454
Max loss from here
$125,603 (+$6,615)
CC-SS
$1250.26 (now $1241.43)
Net delta
+220 sh (now +222)
CSV ND after
283.07
Worst spread / min OI
5% / 42
Danger point
none to -60% (now none to -60%)
Order legs
SELL 2 Jan 21 '28 970C (close)
BUY 2 Jan 21 '28 1110P (close)
BUY 2 Jan 19 '29 970C (open)
SELL 2 Jan 19 '29 1110P (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
970
1110
390
-
-
-
-
-
47%
-
$118,988
$1241.43
+222
BEST
LEAPS ONLY
Jan 19 '29
1010
1160
390 (kept)
+$2,775
-$3,315
-$134
+$52,990 +$4,426/mo
+$26,512 +$2,214/mo
49%
+$52,584
$126,213
$1249.39
+221
BEST WITH INCOME
LEAPS ONLY
Jan 19 '29
1020
1160
390 (kept)
+$3,555
-$3,315
-$396
+$52,982 +$4,425/mo
+$26,396 +$2,204/mo
49%
+$53,619
$125,433
$1250.92
+220
MOST CASH
LEAPS ONLY
Jan 19 '29
1020
1160
390 (kept)
+$3,555
-$3,315
-$396
+$52,982 +$4,425/mo
+$26,396 +$2,204/mo
49%
+$53,619
$125,433
$1250.92
+220
LEAST MARGIN
FULL
Jan 19 '29
810
1160
710
-$39,272
-
-$8,478
+$52,927 +$4,420/mo
+$24,886 +$2,078/mo
47%
+$22,133
$104,260
$1275.75
+198
LOWEST MAX LOSS
FULL
Jan 19 '29
680
1160
850
-$65,282
-
-$7,714
+$52,922 +$4,420/mo
+$24,827 +$2,073/mo
47%
-$4,646
$102,270
$1276.80
+195
INCOME ENGINE
LEAPS ONLY
Jan 19 '29
560
1160
390 (kept)
-$34,975
-$3,315
+$11,294
+$53,168 +$4,440/mo
+$31,528 +$2,633/mo
54%
+$3,585
$163,963
$1192.19
+264
SAME STRIKES
LEAPS ONLY
Jan 19 '29
970
1110
390 (kept)
-$6,615
-$3,315
-$398
+$52,986 +$4,425/mo
+$26,446 +$2,209/mo
49%
+$43,454
$125,603
$1250.26
+220
Cost of waiting
The BEST roll done later instead of today (+$2,775 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
-
+$2,775
-
2027-10-23
90
-$335
+$1,850
+$7,733
2027-12-07
45
-$734
+$273
+$9,501
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
1050
1160
390 (kept)
+$9,650
-$1,395
-$1,123
+$23,961 +$4,955/mo
+$11,279 +$2,332/mo
48%
+$33,339
$119,338
$1251.96
+218
Dec 15 '28
LEAPS ONLY
Dec 15 '28
1030
1160
390 (kept)
+$4,880
-$3,015
-$616
+$48,130 +$4,447/mo
+$23,768 +$2,196/mo
49%
+$50,610
$124,108
$1251.86
+219
Jan 19 '29
LEAPS ONLY
Jan 19 '29
1020
1160
390 (kept)
+$3,555
-$3,315
-$396
+$52,982 +$4,425/mo
+$26,396 +$2,204/mo
49%
+$53,619
$125,433
$1250.92
+220
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
1020
1160
390 (kept)
+$3,555
-$3,315
-$396
+$52,982 +$4,425/mo
+$26,396 +$2,204/mo
49%
+$53,619
$125,433
$1250.92
+220
2
LEAPS ONLY
Jan 19 '29
1010
1160
390 (kept)
+$2,775
-$3,315
-$134
+$52,990 +$4,426/mo
+$26,512 +$2,214/mo
49%
+$52,584
$126,213
$1249.39
+221
3
LEAPS ONLY
Jan 19 '29
1000
1160
390 (kept)
+$2,500
-$3,315
+$29
+$52,997 +$4,426/mo
+$26,613 +$2,223/mo
49%
+$52,153
$126,488
$1248.07
+222
4
LEAPS ONLY
Jan 19 '29
1010
1150
390 (kept)
+$1,360
-$3,315
-$368
+$52,983 +$4,425/mo
+$26,411 +$2,206/mo
49%
+$51,397
$125,628
$1250.72
+220
5
LEAPS ONLY
Jan 19 '29
1000
1150
390 (kept)
+$1,085
-$3,315
-$206
+$52,990 +$4,426/mo
+$26,512 +$2,214/mo
49%
+$50,966
$125,903
$1249.39
+221
6
LEAPS ONLY
Jan 19 '29
990
1160
390 (kept)
+$1,560
-$3,315
+$322
+$53,005 +$4,427/mo
+$26,731 +$2,232/mo
49%
+$50,928
$127,428
$1246.51
+223
7
FULL
Jan 19 '29
980
1160
390
-$4,977
-
-$2,528
+$52,966 +$4,424/mo
+$25,830 +$2,157/mo
48%
+$50,517
$133,965
$1260.31
+213
8
LEAPS ONLY
Jan 19 '29
980
1160
390 (kept)
+$1,195
-$3,315
+$504
+$53,011 +$4,427/mo
+$26,834 +$2,241/mo
49%
+$50,388
$127,793
$1245.16
+224
9
LEAPS ONLY
Jan 19 '29
990
1150
390 (kept)
+$145
-$3,315
+$87
+$52,998 +$4,426/mo
+$26,632 +$2,224/mo
49%
+$49,741
$126,843
$1247.82
+222
10
LEAPS ONLY
Jan 19 '29
1000
1140
390 (kept)
-$390
-$3,315
-$421
+$52,984 +$4,425/mo
+$26,415 +$2,206/mo
49%
+$49,699
$125,378
$1250.67
+220
11
FULL
Jan 19 '29
970
1160
390
-$5,782
-
-$2,262
+$52,969 +$4,424/mo
+$25,926 +$2,165/mo
48%
+$49,449
$134,770
$1258.73
+214
12
LEAPS ONLY
Jan 19 '29
970
1160
390 (kept)
+$390
-$3,315
+$769
+$53,018 +$4,428/mo
+$26,946 +$2,250/mo
49%
+$49,324
$128,598
$1243.67
+225
13
FULL
Jan 19 '29
970
1160
400
-$6,227
-
-$2,481
+$52,967 +$4,424/mo
+$25,865 +$2,160/mo
48%
+$49,222
$133,215
$1259.74
+213
14
LEAPS ONLY
Jan 19 '29
980
1150
390 (kept)
-$220
-$3,315
+$269
+$53,005 +$4,427/mo
+$26,735 +$2,233/mo
49%
+$49,201
$127,208
$1246.45
+223
15
FULL
Jan 19 '29
970
1160
410
-$6,662
-
-$2,700
+$52,965 +$4,423/mo
+$25,804 +$2,155/mo
48%
+$49,003
$131,650
$1260.74
+212
16
FULL
Jan 19 '29
960
1160
390
-$6,232
-
-$2,062
+$52,972 +$4,424/mo
+$26,014 +$2,173/mo
48%
+$48,802
$135,220
$1257.26
+215
17
FULL
Jan 19 '29
970
1160
420
-$7,142
-
-$2,927
+$52,963 +$4,423/mo
+$25,739 +$2,150/mo
48%
+$48,748
$130,130
$1261.81
+211
18
LEAPS ONLY
Jan 19 '29
960
1160
390 (kept)
-$60
-$3,315
+$969
+$53,025 +$4,428/mo
+$27,050 +$2,259/mo
49%
+$48,680
$129,048
$1242.29
+226
19
FULL
Jan 19 '29
960
1160
400
-$6,677
-
-$2,281
+$52,970 +$4,424/mo
+$25,954 +$2,168/mo
48%
+$48,574
$133,665
$1258.27
+214
20
LEAPS ONLY
Jan 19 '29
990
1140
390 (kept)
-$1,330
-$3,315
-$128
+$52,992 +$4,426/mo
+$26,535 +$2,216/mo
49%
+$48,474
$126,318
$1249.09
+221
21
FULL
Jan 19 '29
960
1160
410
-$7,112
-
-$2,499
+$52,968 +$4,424/mo
+$25,894 +$2,163/mo
48%
+$48,356
$132,100
$1259.26
+213
22
FULL
Jan 19 '29
970
1150
390
-$7,197
-
-$2,496
+$52,967 +$4,424/mo
+$25,843 +$2,158/mo
48%
+$48,266
$134,185
$1260.11
+213
23
FULL
Jan 19 '29
960
1160
420
-$7,592
-
-$2,727
+$52,966 +$4,424/mo
+$25,829 +$2,157/mo
48%
+$48,101
$130,580
$1260.33
+212
24
LEAPS ONLY
Jan 19 '29
970
1150
390 (kept)
-$1,025
-$3,315
+$535
+$53,012 +$4,427/mo
+$26,849 +$2,242/mo
49%
+$48,138
$128,013
$1244.96
+224
25
LEAPS ONLY
Jan 19 '29
980
1140
390 (kept)
-$1,695
-$3,315
+$54
+$52,999 +$4,426/mo
+$26,639 +$2,225/mo
49%
+$47,934
$126,683
$1247.72
+222
How this was built
30139 rolls on the real strikes of Jun 16 '28, Dec 15 '28, Jan 19 '29; 19597 pass the rules: the new short put keeps real time value, the break-even at expiry stays within 3% of today's ($1220.00), 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 (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.