Recommendation: ST
Current Price: $600.15
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 | 597.0 | 3.3 | 600.15 | 5 (2025-06-30) | 61.02% | 0.55% | 1.18x |
| SPY | 598.0 | 4.09 | 600.15 | 6 (2025-07-01) | 57.36% | 0.68% | 1.18x |
| SPY | 596.0 | 3.0 | 600.15 | 5 (2025-06-30) | 64.20% | 0.50% | 1.18x |
| SPY | 597.0 | 3.82 | 600.15 | 6 (2025-07-01) | 60.11% | 0.64% | 1.17x |
| SPY | 599.0 | 4.97 | 600.15 | 7 (2025-07-02) | 54.07% | 0.83% | 1.17x |
| SPY | 595.0 | 2.74 | 600.15 | 5 (2025-06-30) | 66.80% | 0.46% | 1.17x |
| SPY | 598.0 | 4.52 | 600.15 | 7 (2025-07-02) | 56.90% | 0.76% | 1.17x |
| SPY | 596.0 | 3.47 | 600.15 | 6 (2025-07-01) | 62.90% | 0.58% | 1.17x |
| SPY | 597.0 | 4.21 | 600.15 | 7 (2025-07-02) | 59.51% | 0.71% | 1.16x |
| SPY | 594.0 | 2.56 | 600.15 | 5 (2025-06-30) | 69.15% | 0.43% | 1.16x |
| SPY | 599.0 | 5.25 | 600.15 | 8 (2025-07-03) | 53.96% | 0.88% | 1.16x |
| SPY | 595.0 | 3.16 | 600.15 | 6 (2025-07-01) | 65.55% | 0.53% | 1.16x |
| SPY | 598.0 | 4.9 | 600.15 | 8 (2025-07-03) | 56.56% | 0.82% | 1.16x |
| SPY | 597.5 | 4.75 | 600.15 | 8 (2025-07-03) | 57.78% | 0.79% | 1.16x |
| SPY | 597.0 | 4.58 | 600.15 | 8 (2025-07-03) | 59.01% | 0.77% | 1.15x |
| SPY | 596.0 | 4.34 | 600.15 | 8 (2025-07-03) | 61.27% | 0.73% | 1.15x |
| SPY | 596.0 | 3.7 | 600.15 | 7 (2025-07-02) | 62.45% | 0.62% | 1.15x |
| SPY | 593.0 | 2.28 | 600.15 | 5 (2025-06-30) | 71.78% | 0.38% | 1.15x |
| SPY | 595.0 | 3.55 | 600.15 | 7 (2025-07-02) | 64.58% | 0.60% | 1.15x |
| SPY | 593.0 | 2.79 | 600.15 | 6 (2025-07-01) | 69.82% | 0.47% | 1.15x |
| SPY | 594.0 | 2.83 | 600.15 | 6 (2025-07-01) | 68.23% | 0.48% | 1.15x |
| SPY | 594.0 | 3.33 | 600.15 | 7 (2025-07-02) | 66.73% | 0.56% | 1.14x |
| SPY | 595.0 | 3.99 | 600.15 | 8 (2025-07-03) | 63.63% | 0.67% | 1.14x |
| SPY | 596.0 | 2.36 | 600.15 | 4 (2025-06-27) | 66.12% | 0.40% | 1.14x |
| SPY | 592.0 | 2.07 | 600.15 | 5 (2025-06-30) | 74.04% | 0.35% | 1.14x |
| SPY | 594.0 | 3.74 | 600.15 | 8 (2025-07-03) | 65.74% | 0.63% | 1.14x |
| SPY | 593.0 | 3.09 | 600.15 | 7 (2025-07-02) | 68.90% | 0.52% | 1.14x |
| SPY | 592.0 | 2.48 | 600.15 | 6 (2025-07-01) | 72.30% | 0.42% | 1.14x |
| SPY | 591.0 | 1.93 | 600.15 | 5 (2025-06-30) | 75.91% | 0.33% | 1.13x |
| SPY | 593.0 | 3.45 | 600.15 | 8 (2025-07-03) | 67.86% | 0.58% | 1.13x |
| SPY | 595.0 | 2.12 | 600.15 | 4 (2025-06-27) | 69.19% | 0.36% | 1.13x |
| SPY | 592.5 | 3.38 | 600.15 | 8 (2025-07-03) | 68.72% | 0.57% | 1.13x |
| SPY | 592.0 | 2.8 | 600.15 | 7 (2025-07-02) | 70.97% | 0.47% | 1.13x |
| SPY | 591.0 | 2.27 | 600.15 | 6 (2025-07-01) | 74.35% | 0.38% | 1.13x |
| SPY | 591.0 | 2.69 | 600.15 | 7 (2025-07-02) | 72.68% | 0.46% | 1.13x |
| SPY | 594.0 | 1.9 | 600.15 | 4 (2025-06-27) | 72.27% | 0.32% | 1.12x |
| SPY | 600.0 | 7.52 | 600.15 | 14 (2025-07-11) | 51.43% | 1.25% | 1.12x |
| SPY | 599.0 | 7.1 | 600.15 | 14 (2025-07-11) | 53.47% | 1.19% | 1.12x |
| SPY | 597.0 | 6.52 | 600.15 | 14 (2025-07-11) | 57.28% | 1.09% | 1.12x |
| SPY | 598.0 | 6.73 | 600.15 | 14 (2025-07-11) | 55.46% | 1.13% | 1.12x |
| SPY | 596.0 | 6.27 | 600.15 | 14 (2025-07-11) | 59.03% | 1.05% | 1.12x |
| SPY | 593.0 | 1.7 | 600.15 | 4 (2025-06-27) | 74.74% | 0.29% | 1.11x |
| SPY | 596.0 | 1.87 | 600.15 | 3 (2025-06-26) | 68.26% | 0.31% | 1.11x |
| SPY | 595.0 | 5.82 | 600.15 | 14 (2025-07-11) | 60.94% | 0.98% | 1.11x |
| SPY | 594.0 | 5.62 | 600.15 | 14 (2025-07-11) | 62.54% | 0.95% | 1.11x |
| SPY | 593.0 | 5.41 | 600.15 | 14 (2025-07-11) | 64.06% | 0.91% | 1.11x |
| SPY | 592.0 | 5.19 | 600.15 | 14 (2025-07-11) | 65.55% | 0.88% | 1.11x |
| SPY | 592.0 | 1.54 | 600.15 | 4 (2025-06-27) | 76.94% | 0.26% | 1.11x |
| SPY | 598.0 | 8.28 | 600.15 | 19 (2025-07-18) | 54.92% | 1.38% | 1.11x |
| SPY | 600.0 | 8.82 | 600.15 | 19 (2025-07-18) | 51.57% | 1.47% | 1.11x |
| SPY | 599.0 | 8.51 | 600.15 | 19 (2025-07-18) | 53.29% | 1.42% | 1.11x |
| SPY | 591.0 | 4.87 | 600.15 | 14 (2025-07-11) | 67.18% | 0.82% | 1.10x |
| SPY | 595.0 | 1.63 | 600.15 | 3 (2025-06-26) | 71.75% | 0.27% | 1.10x |
| SPY | 597.0 | 7.84 | 600.15 | 19 (2025-07-18) | 56.57% | 1.31% | 1.10x |
| SPY | 596.0 | 7.54 | 600.15 | 19 (2025-07-18) | 58.13% | 1.27% | 1.10x |
| SPY | 591.0 | 1.43 | 600.15 | 4 (2025-06-27) | 78.77% | 0.24% | 1.10x |
| SPY | 595.0 | 7.22 | 600.15 | 19 (2025-07-18) | 59.67% | 1.21% | 1.10x |
| SPY | 594.0 | 6.99 | 600.15 | 19 (2025-07-18) | 61.08% | 1.18% | 1.10x |
| SPY | 592.0 | 6.58 | 600.15 | 19 (2025-07-18) | 63.70% | 1.11% | 1.10x |
| SPY | 593.0 | 6.68 | 600.15 | 19 (2025-07-18) | 62.53% | 1.13% | 1.10x |
| SPY | 594.0 | 1.44 | 600.15 | 3 (2025-06-26) | 74.74% | 0.24% | 1.10x |
| SPY | 591.0 | 6.25 | 600.15 | 19 (2025-07-18) | 65.10% | 1.06% | 1.10x |
| SPY | 593.0 | 1.31 | 600.15 | 3 (2025-06-26) | 77.19% | 0.22% | 1.09x |
| SPY | 592.0 | 1.2 | 600.15 | 3 (2025-06-26) | 79.56% | 0.20% | 1.08x |
| SPY | 595.0 | 1.13 | 600.15 | 2 (2025-06-25) | 75.32% | 0.19% | 1.07x |
| SPY | 591.0 | 1.03 | 600.15 | 3 (2025-06-26) | 81.83% | 0.17% | 1.07x |
| SPY | 594.0 | 0.96 | 600.15 | 2 (2025-06-25) | 78.72% | 0.16% | 1.07x |
| SPY | 593.0 | 0.83 | 600.15 | 2 (2025-06-25) | 81.46% | 0.14% | 1.06x |
| SPY | 592.0 | 0.72 | 600.15 | 2 (2025-06-25) | 83.82% | 0.12% | 1.05x |
| SPY | 591.0 | 0.62 | 600.15 | 2 (2025-06-25) | 86.00% | 0.10% | 1.05x |
| SPY | 594.0 | 0.46 | 600.15 | 1 (2025-06-24) | 85.11% | 0.08% | 1.03x |
| SPY | 593.0 | 0.38 | 600.15 | 1 (2025-06-24) | 87.81% | 0.06% | 1.03x |
| SPY | 592.0 | 0.31 | 600.15 | 1 (2025-06-24) | 90.00% | 0.05% | 1.02x |
| SPY | 591.0 | 0.26 | 600.15 | 1 (2025-06-24) | 91.53% | 0.04% | 1.02x |