Recommendation: ST
Current Price: $689.53
Total Wheels: 1
EditTypically you want to choose options that have a higher than 70% chance of being out of the money, since then you only have a 30% chance of actually acquiring the stock. Beyond that maximumizing the annualized rate of return is a good idea.
Annualized rate of return is computed fairly bullish as (max_return * odds + (1 - odds)) ^ (252 / calendar_days). This assumes that if you accidently acquire the stock you will be able to do something such that effectively get you a 1x return immediately.
| Ticker | Strike | Premium | Ticker Price | Calendar Days To Expiration | Odds Out Of The Money % | Maximum Return % | Annualized Rate Of Return |
|---|---|---|---|---|---|---|---|
| SPY | 686.0 | 3.62 | 689.53 | 5 (2026-02-09) | 61.25% | 0.53% | 1.18x |
| SPY | 687.0 | 4.44 | 689.53 | 6 (2026-02-10) | 57.79% | 0.65% | 1.17x |
| SPY | 685.0 | 3.33 | 689.53 | 5 (2026-02-09) | 63.91% | 0.49% | 1.17x |
| SPY | 686.0 | 4.12 | 689.53 | 6 (2026-02-10) | 60.37% | 0.60% | 1.16x |
| SPY | 684.0 | 3.06 | 689.53 | 5 (2026-02-09) | 66.44% | 0.45% | 1.16x |
| SPY | 687.0 | 4.95 | 689.53 | 7 (2026-02-11) | 57.25% | 0.72% | 1.16x |
| SPY | 685.0 | 3.83 | 689.53 | 6 (2026-02-10) | 62.81% | 0.56% | 1.16x |
| SPY | 686.0 | 4.64 | 689.53 | 7 (2026-02-11) | 59.60% | 0.68% | 1.16x |
| SPY | 683.0 | 2.81 | 689.53 | 5 (2026-02-09) | 68.82% | 0.41% | 1.15x |
| SPY | 684.0 | 3.55 | 689.53 | 6 (2026-02-10) | 65.14% | 0.52% | 1.15x |
| SPY | 688.0 | 5.68 | 689.53 | 8 (2026-02-12) | 54.59% | 0.83% | 1.15x |
| SPY | 685.0 | 4.34 | 689.53 | 7 (2026-02-11) | 61.86% | 0.63% | 1.15x |
| SPY | 687.0 | 5.34 | 689.53 | 8 (2026-02-12) | 56.92% | 0.78% | 1.15x |
| SPY | 684.0 | 4.06 | 689.53 | 7 (2026-02-11) | 64.02% | 0.59% | 1.15x |
| SPY | 686.0 | 5.03 | 689.53 | 8 (2026-02-12) | 59.14% | 0.73% | 1.15x |
| SPY | 683.0 | 3.29 | 689.53 | 6 (2026-02-10) | 67.35% | 0.48% | 1.15x |
| SPY | 689.0 | 6.39 | 689.53 | 9 (2026-02-13) | 52.14% | 0.93% | 1.14x |
| SPY | 682.0 | 2.57 | 689.53 | 5 (2026-02-09) | 71.10% | 0.38% | 1.14x |
| SPY | 688.0 | 6.03 | 689.53 | 9 (2026-02-13) | 54.44% | 0.88% | 1.14x |
| SPY | 685.0 | 4.73 | 689.53 | 8 (2026-02-12) | 61.28% | 0.69% | 1.14x |
| SPY | 683.0 | 3.8 | 689.53 | 7 (2026-02-11) | 66.14% | 0.56% | 1.14x |
| SPY | 687.0 | 5.69 | 689.53 | 9 (2026-02-13) | 56.65% | 0.83% | 1.14x |
| SPY | 682.0 | 3.05 | 689.53 | 6 (2026-02-10) | 69.47% | 0.45% | 1.14x |
| SPY | 684.0 | 4.45 | 689.53 | 8 (2026-02-12) | 63.31% | 0.65% | 1.14x |
| SPY | 686.0 | 5.38 | 689.53 | 9 (2026-02-13) | 58.77% | 0.78% | 1.14x |
| SPY | 685.0 | 2.65 | 689.53 | 4 (2026-02-06) | 65.86% | 0.39% | 1.14x |
| SPY | 681.0 | 2.36 | 689.53 | 5 (2026-02-09) | 73.20% | 0.35% | 1.14x |
| SPY | 682.0 | 3.55 | 689.53 | 7 (2026-02-11) | 68.04% | 0.52% | 1.14x |
| SPY | 685.0 | 5.07 | 689.53 | 9 (2026-02-13) | 60.81% | 0.74% | 1.13x |
| SPY | 683.0 | 4.18 | 689.53 | 8 (2026-02-12) | 65.25% | 0.61% | 1.13x |
| SPY | 681.0 | 2.83 | 689.53 | 6 (2026-02-10) | 71.40% | 0.42% | 1.13x |
| SPY | 684.0 | 4.79 | 689.53 | 9 (2026-02-13) | 62.75% | 0.70% | 1.13x |
| SPY | 681.0 | 3.32 | 689.53 | 7 (2026-02-11) | 69.88% | 0.49% | 1.13x |
| SPY | 682.0 | 3.93 | 689.53 | 8 (2026-02-12) | 67.13% | 0.58% | 1.13x |
| SPY | 684.0 | 2.39 | 689.53 | 4 (2026-02-06) | 68.72% | 0.35% | 1.13x |
| SPY | 680.0 | 2.16 | 689.53 | 5 (2026-02-09) | 75.16% | 0.32% | 1.13x |
| SPY | 683.0 | 4.52 | 689.53 | 9 (2026-02-13) | 64.62% | 0.66% | 1.13x |
| SPY | 680.0 | 2.62 | 689.53 | 6 (2026-02-10) | 73.29% | 0.39% | 1.13x |
| SPY | 680.0 | 3.1 | 689.53 | 7 (2026-02-11) | 71.78% | 0.46% | 1.12x |
| SPY | 681.0 | 3.69 | 689.53 | 8 (2026-02-12) | 68.91% | 0.54% | 1.12x |
| SPY | 682.0 | 4.26 | 689.53 | 9 (2026-02-13) | 66.42% | 0.62% | 1.12x |
| SPY | 680.0 | 3.47 | 689.53 | 8 (2026-02-12) | 70.58% | 0.51% | 1.12x |
| SPY | 683.0 | 2.15 | 689.53 | 4 (2026-02-06) | 71.38% | 0.31% | 1.12x |
| SPY | 681.0 | 4.02 | 689.53 | 9 (2026-02-13) | 68.13% | 0.59% | 1.12x |
| SPY | 680.0 | 3.79 | 689.53 | 9 (2026-02-13) | 69.76% | 0.56% | 1.11x |
| SPY | 689.0 | 7.9 | 689.53 | 14 (2026-02-20) | 52.13% | 1.15% | 1.11x |
| SPY | 688.0 | 7.54 | 689.53 | 14 (2026-02-20) | 54.00% | 1.10% | 1.11x |
| SPY | 682.0 | 1.93 | 689.53 | 4 (2026-02-06) | 73.89% | 0.28% | 1.11x |
| SPY | 687.0 | 7.21 | 689.53 | 14 (2026-02-20) | 55.81% | 1.05% | 1.11x |
| SPY | 686.0 | 6.89 | 689.53 | 14 (2026-02-20) | 57.56% | 1.00% | 1.11x |
| SPY | 685.0 | 6.59 | 689.53 | 14 (2026-02-20) | 59.24% | 0.96% | 1.11x |
| SPY | 684.0 | 6.3 | 689.53 | 14 (2026-02-20) | 60.86% | 0.92% | 1.11x |
| SPY | 683.0 | 6.02 | 689.53 | 14 (2026-02-20) | 62.44% | 0.88% | 1.10x |
| SPY | 681.0 | 1.74 | 689.53 | 4 (2026-02-06) | 76.18% | 0.26% | 1.10x |
| SPY | 682.0 | 5.76 | 689.53 | 14 (2026-02-20) | 63.95% | 0.84% | 1.10x |
| SPY | 681.0 | 5.5 | 689.53 | 14 (2026-02-20) | 65.36% | 0.81% | 1.10x |
| SPY | 689.0 | 9.45 | 689.53 | 19 (2026-02-27) | 52.15% | 1.37% | 1.10x |
| SPY | 688.0 | 9.11 | 689.53 | 19 (2026-02-27) | 53.72% | 1.32% | 1.10x |
| SPY | 684.0 | 1.78 | 689.53 | 3 (2026-02-05) | 71.58% | 0.26% | 1.10x |
| SPY | 687.0 | 8.77 | 689.53 | 19 (2026-02-27) | 55.25% | 1.28% | 1.10x |
| SPY | 680.0 | 5.26 | 689.53 | 14 (2026-02-20) | 66.81% | 0.77% | 1.10x |
| SPY | 686.0 | 8.45 | 689.53 | 19 (2026-02-27) | 56.74% | 1.23% | 1.10x |
| SPY | 685.0 | 8.14 | 689.53 | 19 (2026-02-27) | 58.18% | 1.19% | 1.10x |
| SPY | 680.0 | 1.56 | 689.53 | 4 (2026-02-06) | 78.33% | 0.23% | 1.09x |
| SPY | 684.0 | 7.85 | 689.53 | 19 (2026-02-27) | 59.56% | 1.15% | 1.09x |
| SPY | 682.0 | 7.29 | 689.53 | 19 (2026-02-27) | 62.23% | 1.07% | 1.09x |
| SPY | 681.0 | 7.03 | 689.53 | 19 (2026-02-27) | 63.50% | 1.03% | 1.09x |
| SPY | 683.0 | 1.56 | 689.53 | 3 (2026-02-05) | 74.52% | 0.23% | 1.09x |
| SPY | 680.0 | 6.78 | 689.53 | 19 (2026-02-27) | 64.72% | 1.00% | 1.09x |
| SPY | 682.0 | 1.36 | 689.53 | 3 (2026-02-05) | 77.32% | 0.20% | 1.08x |
| SPY | 681.0 | 1.19 | 689.53 | 3 (2026-02-05) | 79.79% | 0.17% | 1.07x |
| SPY | 680.0 | 1.04 | 689.53 | 3 (2026-02-05) | 82.06% | 0.15% | 1.07x |
| SPY | 683.0 | 0.79 | 689.53 | 2 (2026-02-04) | 81.08% | 0.12% | 1.05x |
| SPY | 682.0 | 0.66 | 689.53 | 2 (2026-02-04) | 83.90% | 0.10% | 1.04x |
| SPY | 681.0 | 0.54 | 689.53 | 2 (2026-02-04) | 86.52% | 0.08% | 1.04x |
| SPY | 680.0 | 0.44 | 689.53 | 2 (2026-02-04) | 88.76% | 0.06% | 1.03x |