+2 Jan 21 '28 970C-2 Jan 21 '28 1110P+2 Jan 15 '27 390P448 days leftCSV ND 250.00entry $1235 -26.9%CC-SS $1203.41 (+33% vs spot)BE-SS $1220.00 (+35% vs spot)
Spot
$902.25
CBOE 2026-10-30 02:26:21
When to roll✓ OPPORTUNITY
A roll pays you and frees margin today
A roll exists today that pays you $135 and frees $391 of margin while keeping the upside: no reason to wait for it.
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 $1203 CC-SS) only pay a normal premium from about $1094 (+21% from here).
FIGHT engine (~0.30-delta calls below the CC-SS, where an assignment locks a loss): about $3,738/mo at MU's realized keep of 83% (58 closed calls).
The record shows it fights: $6,346/mo earned against a modelled $3,738/mo, so FIGHT income counts toward the time.
Extending to Jan 19 '29 buys 12 months. Expected income to expiry with FIGHT: $54,629 if you keep, $106,009 after the roll; safe calls alone: $22,719 vs $49,227. Odds safe calls restart: 52% vs 53%.
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)
-$14,347
Unrealized vs CSV ND
-$64,347
Max loss from here
$129,653
Margin it holds (model)
$47,911
a close frees it; $47,911 on all MU here
CC-SS
$1203.41
safe call from $1094
Net delta
+222 sh
notional $180,450
Theta
-$4/day
net of the three legs
Short put time value
$93.38
assignment LOW
If you close it today
Whole-life P/L
-$38,242
legs + call income, all in
Legs vs entry
-$64,347
close LC / SP / HP at mid vs CSV ND
Call income banked
+$29,350
since entry, incl. the open chain
Cash to close today
-$17,592
legs at mid + call buyback -$3,245
If you hold to expiry instead
Whole-life P/L at expiry
-$1,689
expected; -$38,242 if closed today
Chance of break-even
36%
whole-life P/L at or above zero
Max loss left
$129,653
33% of the $194,000 at entry already taken
Worst case if held
-$167,895
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 $47,911 of margin a close would free, counted dollar for dollar: holding trails closing by $11,358.
Recommended roll
BEST: cash + margin
+$2,415
cash at mid today (natural -$3,340)
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
-$183
freed is good; IBKR: IBKR's margin engine answers only in US market hours (21:30-04:00 SGT)
Hedge extension (est.)
-$2,880
kept hedge carried to the new expiry
Income over the time bought
$75,988
actual: $6,346 a month x 12 months; covers 1002% of the max loss it adds
Restart odds
52% → 53%
safe calls paying before expiry
Max loss from here
$137,238
+$7,585 vs keep
CC-SS
$1210.34
now $1203.41
CSV ND after
237.93
at a mid fill
If you're assigned
Odds of early assignment within 12 months: 54% The holder exercises once the stock is at or below $554 in 6 months..
Close everything now: -$14,347. Wait for assignment: +$4,328 (the put spread -$41,312, plus the 970C you keep, worth $45,640). About the same, and waiting keeps the call income.
On assignment: sell the shares and sell the hedge put (never exercise it): $41,312 more ($207 a share). Basis 456.56; the 970C alone has CC-SS $1241.41 (now $1203.41), break-even $1,427, margin about zero.
Calls afterwards (Dec 04 '26, 35d): a 970C (at or above the call) about $9,215 a cycle; a 1035C (~0.30 delta) about $5,055 a cycle, but a rally can cost up to $0 a cycle. The 970C loses about $1,225 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)
51%
CBOE 30-day 51%
Regime
NEUTRAL
RSI 54
Next earnings
2026-12-23
55 days
FIGHT rate (model)
$3,738/mo
~0.30-delta calls x 83% keep
Where safe calls start paying
safe from $1094
spot $902
Spot needs +21% before a safe call pays a normal premium.
What the time buys
Expected income to expiry, FIGHT included (model)
Keep Jan 21 '28
$54,629
Roll Jan 19 '29
$106,009
Odds safe calls start paying before expiry
Keep Jan 21 '28
52%
Roll Jan 19 '29
53%
Safe calls alone (never below the CC-SS)
Keep Jan 21 '28
$22,719
Roll Jan 19 '29
$49,227
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
+$2,415
Margin change
-$183
Strikes
1010C / -1160P / +390P (kept)
Cash at natural
-$3,340
Hedge extension (est.)
-$2,880
Extra income, FIGHT incl. (model)
+$51,381 (+$4,291/mo)
Extra safe income (model)
+$26,508 (+$2,214/mo)
Restart odds
53% (keep 52%)
Value incl. income
+$51,099
Max loss from here
$137,238 (+$7,585)
CC-SS
$1210.34 (now $1203.41)
Net delta
+221 sh (now +222)
CSV ND after
237.93
Worst spread / min OI
5% / 3
Danger point
-24% (now -23%)
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
+$3,015
Margin change
-$391
Strikes
1020C / -1160P / +390P (kept)
Cash at natural
-$2,940
Hedge extension (est.)
-$2,880
Extra income, FIGHT incl. (model)
+$51,379 (+$4,291/mo)
Extra safe income (model)
+$26,383 (+$2,203/mo)
Restart odds
53% (keep 52%)
Value incl. income
+$51,905
Max loss from here
$136,638 (+$6,985)
CC-SS
$1211.58 (now $1203.41)
Net delta
+220 sh (now +222)
CSV ND after
234.93
Worst spread / min OI
6% / 3
Danger point
-24% (now -23%)
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
-$43,062
Margin change
-$8,270
Strikes
790C / -1140P / +720P
Cash at natural
-$49,646
Extra income, FIGHT incl. (model)
+$51,269 (+$4,282/mo)
Extra safe income (model)
+$24,313 (+$2,031/mo)
Restart odds
51% (keep 52%)
Value incl. income
+$16,477
Max loss from here
$112,715 (-$16,938)
CC-SS
$1234.85 (now $1203.41)
Net delta
+199 sh (now +222)
CSV ND after
465.31
Worst spread / min OI
8% / 5
Danger point
none to -60% (now -23%)
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 790C (open)
SELL 2 Jan 19 '29 1140P (open)
BUY 2 Jan 19 '29 720P (open)
LOWEST MAX LOSS
Smallest worst-case loss from here.
FULLJan 19 '29
Cash at mid
-$46,887
Margin change
-$7,448
Strikes
770C / -1160P / +770P
Cash at natural
-$54,246
Extra income, FIGHT incl. (model)
+$51,261 (+$4,281/mo)
Extra safe income (model)
+$24,200 (+$2,021/mo)
Restart odds
51% (keep 52%)
Value incl. income
+$11,822
Max loss from here
$110,540 (-$19,113)
CC-SS
$1236.18 (now $1203.41)
Net delta
+198 sh (now +222)
CSV ND after
484.44
Worst spread / min OI
9% / 3
Danger point
none to -60% (now -23%)
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 770C (open)
SELL 2 Jan 19 '29 1160P (open)
BUY 2 Jan 19 '29 770P (open)
INCOME ENGINE
Most expected income to the new expiry, FIGHT included (model).
LEAPS ONLYJan 19 '29
Cash at mid
-$59,185
Margin change
+$14,440
Strikes
390C / -1160P / +390P (kept)
Cash at natural
-$64,940
Hedge extension (est.)
-$2,880
Extra income, FIGHT incl. (model)
+$51,551 (+$4,305/mo)
Extra safe income (model)
+$34,659 (+$2,895/mo)
Restart odds
58% (keep 52%)
Value incl. income
-$24,954
Max loss from here
$198,838 (+$69,185)
CC-SS
$1147.91 (now $1203.41)
Net delta
+275 sh (now +222)
CSV ND after
545.92
Worst spread / min OI
5% / 3
Danger point
-17% (now -23%)
Order legs
SELL 2 Jan 21 '28 970C (close)
BUY 2 Jan 21 '28 1110P (close)
BUY 2 Jan 19 '29 390C (open)
SELL 2 Jan 19 '29 1160P (open)
SAME STRIKES
The held strikes rolled straight out (reference).
LEAPS ONLYJan 19 '29
Cash at mid
-$6,520
Margin change
-$575
Strikes
970C / -1110P / +390P (kept)
Cash at natural
-$11,610
Hedge extension (est.)
-$2,880
Extra income, FIGHT incl. (model)
+$51,379 (+$4,291/mo)
Extra safe income (model)
+$26,407 (+$2,205/mo)
Restart odds
53% (keep 52%)
Value incl. income
+$42,554
Max loss from here
$136,173 (+$6,520)
CC-SS
$1211.34 (now $1203.41)
Net delta
+220 sh (now +222)
CSV ND after
282.60
Worst spread / min OI
4% / 41
Danger point
-24% (now -23%)
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
-
-
-
-
-
52%
-
$129,653
$1203.41
+222
BEST
LEAPS ONLY
Jan 19 '29
1010
1160
390 (kept)
+$2,415
-$2,880
-$183
+$51,381 +$4,291/mo
+$26,508 +$2,214/mo
53%
+$51,099
$137,238
$1210.34
+221
BEST WITH INCOME
LEAPS ONLY
Jan 19 '29
1020
1160
390 (kept)
+$3,015
-$2,880
-$391
+$51,379 +$4,291/mo
+$26,383 +$2,203/mo
53%
+$51,905
$136,638
$1211.58
+220
MOST CASH
LEAPS ONLY
Jan 19 '29
1020
1160
390 (kept)
+$3,015
-$2,880
-$391
+$51,379 +$4,291/mo
+$26,383 +$2,203/mo
53%
+$51,905
$136,638
$1211.58
+220
LEAST MARGIN
FULL
Jan 19 '29
790
1140
720
-$43,062
-
-$8,270
+$51,269 +$4,282/mo
+$24,313 +$2,031/mo
51%
+$16,477
$112,715
$1234.85
+199
LOWEST MAX LOSS
FULL
Jan 19 '29
770
1160
770
-$46,887
-
-$7,448
+$51,261 +$4,281/mo
+$24,200 +$2,021/mo
51%
+$11,822
$110,540
$1236.18
+198
INCOME ENGINE
LEAPS ONLY
Jan 19 '29
390
1160
390 (kept)
-$59,185
-$2,880
+$14,440
+$51,551 +$4,305/mo
+$34,659 +$2,895/mo
58%
-$24,954
$198,838
$1147.91
+275
SAME STRIKES
LEAPS ONLY
Jan 19 '29
970
1110
390 (kept)
-$6,520
-$2,880
-$575
+$51,379 +$4,291/mo
+$26,407 +$2,205/mo
53%
+$42,554
$136,173
$1211.34
+220
Cost of waiting
The BEST roll done later instead of today (+$2,415 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% ($632)
Spot +0% ($902)
Spot +30% ($1173)
Today
448
-
+$2,415
-
2027-10-23
90
-$1,270
+$731
+$6,330
2027-12-07
45
-$1,692
-$797
+$8,143
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)
+$9,365
-$1,000
-$1,030
+$23,260 +$4,810/mo
+$11,327 +$2,343/mo
52%
+$32,656
$130,288
$1212.46
+218
Dec 15 '28
LEAPS ONLY
Dec 15 '28
1020
1160
390 (kept)
+$3,965
-$2,825
-$424
+$46,680 +$4,313/mo
+$23,877 +$2,206/mo
53%
+$48,244
$135,688
$1211.20
+220
Jan 19 '29
LEAPS ONLY
Jan 19 '29
1020
1160
390 (kept)
+$3,015
-$2,880
-$391
+$51,379 +$4,291/mo
+$26,383 +$2,203/mo
53%
+$51,905
$136,638
$1211.58
+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)
+$3,015
-$2,880
-$391
+$51,379 +$4,291/mo
+$26,383 +$2,203/mo
53%
+$51,905
$136,638
$1211.58
+220
2
LEAPS ONLY
Jan 19 '29
1010
1160
390 (kept)
+$2,415
-$2,880
-$183
+$51,381 +$4,291/mo
+$26,508 +$2,214/mo
53%
+$51,099
$137,238
$1210.34
+221
3
LEAPS ONLY
Jan 19 '29
1000
1160
390 (kept)
+$1,615
-$2,880
+$60
+$51,382 +$4,291/mo
+$26,639 +$2,225/mo
53%
+$50,058
$138,038
$1209.04
+222
4
LEAPS ONLY
Jan 19 '29
1010
1150
390 (kept)
+$1,080
-$2,880
-$417
+$51,379 +$4,291/mo
+$26,389 +$2,204/mo
53%
+$49,996
$136,573
$1211.52
+220
5
LEAPS ONLY
Jan 19 '29
990
1160
390 (kept)
+$1,000
-$2,880
+$271
+$51,384 +$4,291/mo
+$26,764 +$2,235/mo
53%
+$49,233
$138,653
$1207.80
+223
6
LEAPS ONLY
Jan 19 '29
1000
1150
390 (kept)
+$280
-$2,880
-$175
+$51,381 +$4,291/mo
+$26,521 +$2,215/mo
53%
+$48,956
$137,373
$1210.21
+221
7
FULL
Jan 19 '29
980
1160
390
-$5,122
-
-$2,303
+$51,359 +$4,289/mo
+$25,585 +$2,137/mo
52%
+$48,540
$144,775
$1219.77
+214
8
LEAPS ONLY
Jan 19 '29
980
1160
390 (kept)
+$415
-$2,880
+$475
+$51,385 +$4,291/mo
+$26,886 +$2,245/mo
53%
+$48,445
$139,238
$1206.59
+224
9
LEAPS ONLY
Jan 19 '29
1000
1140
390 (kept)
-$810
-$2,880
-$473
+$51,379 +$4,291/mo
+$26,387 +$2,204/mo
53%
+$48,162
$136,463
$1211.54
+220
10
LEAPS ONLY
Jan 19 '29
990
1150
390 (kept)
-$335
-$2,880
+$36
+$51,382 +$4,291/mo
+$26,646 +$2,225/mo
53%
+$48,131
$137,988
$1208.97
+222
11
FULL
Jan 19 '29
970
1160
390
-$5,677
-
-$2,102
+$51,366 +$4,290/mo
+$25,693 +$2,146/mo
52%
+$47,791
$145,330
$1218.48
+214
12
LEAPS ONLY
Jan 19 '29
970
1160
390 (kept)
-$140
-$2,880
+$677
+$51,386 +$4,292/mo
+$27,007 +$2,256/mo
53%
+$47,689
$139,793
$1205.38
+225
13
FULL
Jan 19 '29
970
1160
400
-$6,192
-
-$2,326
+$51,361 +$4,289/mo
+$25,606 +$2,139/mo
52%
+$47,495
$143,845
$1219.52
+214
14
FULL
Jan 19 '29
970
1160
410
-$6,457
-
-$2,507
+$51,357 +$4,289/mo
+$25,547 +$2,134/mo
52%
+$47,407
$142,110
$1220.22
+213
15
LEAPS ONLY
Jan 19 '29
980
1150
390 (kept)
-$920
-$2,880
+$241
+$51,384 +$4,291/mo
+$26,770 +$2,236/mo
53%
+$47,343
$138,573
$1207.74
+223
16
LEAPS ONLY
Jan 19 '29
990
1140
390 (kept)
-$1,425
-$2,880
-$262
+$51,381 +$4,291/mo
+$26,513 +$2,214/mo
53%
+$47,338
$137,078
$1210.29
+221
17
FULL
Jan 19 '29
970
1160
420
-$6,917
-
-$2,724
+$51,351 +$4,289/mo
+$25,465 +$2,127/mo
52%
+$47,159
$140,570
$1221.20
+212
18
FULL
Jan 19 '29
960
1160
390
-$6,217
-
-$1,902
+$51,370 +$4,290/mo
+$25,813 +$2,156/mo
52%
+$47,056
$145,870
$1217.19
+215
19
LEAPS ONLY
Jan 19 '29
960
1160
390 (kept)
-$680
-$2,880
+$876
+$51,387 +$4,292/mo
+$27,128 +$2,266/mo
53%
+$46,951
$140,333
$1204.18
+226
20
FULL
Jan 19 '29
960
1160
400
-$6,732
-
-$2,127
+$51,367 +$4,290/mo
+$25,714 +$2,148/mo
52%
+$46,762
$144,385
$1218.23
+215
21
FULL
Jan 19 '29
970
1150
390
-$7,012
-
-$2,336
+$51,360 +$4,289/mo
+$25,590 +$2,137/mo
52%
+$46,684
$144,665
$1219.71
+213
22
FULL
Jan 19 '29
960
1160
410
-$6,997
-
-$2,308
+$51,364 +$4,290/mo
+$25,655 +$2,143/mo
52%
+$46,675
$142,650
$1218.92
+214
23
LEAPS ONLY
Jan 19 '29
970
1150
390 (kept)
-$1,475
-$2,880
+$442
+$51,385 +$4,291/mo
+$26,892 +$2,246/mo
53%
+$46,588
$139,128
$1206.53
+224
24
LEAPS ONLY
Jan 19 '29
980
1140
390 (kept)
-$2,010
-$2,880
-$58
+$51,382 +$4,291/mo
+$26,638 +$2,225/mo
53%
+$46,550
$137,663
$1209.05
+222
25
FULL
Jan 19 '29
960
1160
420
-$7,457
-
-$2,525
+$51,359 +$4,289/mo
+$25,574 +$2,136/mo
52%
+$46,427
$141,110
$1219.90
+213
How this was built
29298 rolls on the real strikes of Jun 16 '28, Dec 15 '28, Jan 19 '29; 28234 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 1.27), 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 (51%). 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.