Recommendation: ST
Current Price: $738.18
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 | 735.0 | 4.75 | 738.18 | 6 (2026-05-20) | 58.74% | 0.65% | 1.17x |
| SPY | 734.0 | 3.72 | 738.18 | 5 (2026-05-19) | 62.34% | 0.51% | 1.17x |
| SPY | 738.0 | 7.28 | 738.18 | 8 (2026-05-22) | 51.23% | 0.99% | 1.17x |
| SPY | 734.0 | 4.53 | 738.18 | 6 (2026-05-20) | 60.90% | 0.62% | 1.17x |
| SPY | 733.0 | 3.53 | 738.18 | 5 (2026-05-19) | 64.55% | 0.48% | 1.17x |
| SPY | 737.0 | 6.85 | 738.18 | 8 (2026-05-22) | 53.35% | 0.93% | 1.17x |
| SPY | 733.0 | 4.12 | 738.18 | 6 (2026-05-20) | 63.30% | 0.56% | 1.16x |
| SPY | 736.0 | 6.2 | 738.18 | 8 (2026-05-22) | 55.56% | 0.84% | 1.16x |
| SPY | 735.0 | 5.16 | 738.18 | 7 (2026-05-21) | 58.29% | 0.70% | 1.16x |
| SPY | 732.0 | 3.15 | 738.18 | 5 (2026-05-19) | 67.20% | 0.43% | 1.16x |
| SPY | 735.0 | 5.9 | 738.18 | 8 (2026-05-22) | 57.61% | 0.80% | 1.16x |
| SPY | 734.0 | 5.7 | 738.18 | 8 (2026-05-22) | 59.47% | 0.78% | 1.16x |
| SPY | 732.0 | 3.79 | 738.18 | 6 (2026-05-20) | 65.55% | 0.52% | 1.15x |
| SPY | 734.0 | 3.23 | 738.18 | 4 (2026-05-18) | 63.44% | 0.44% | 1.15x |
| SPY | 731.0 | 2.9 | 738.18 | 5 (2026-05-19) | 69.34% | 0.40% | 1.15x |
| SPY | 733.0 | 5.23 | 738.18 | 8 (2026-05-22) | 61.53% | 0.71% | 1.15x |
| SPY | 731.0 | 3.54 | 738.18 | 6 (2026-05-20) | 67.55% | 0.48% | 1.15x |
| SPY | 732.0 | 5.03 | 738.18 | 8 (2026-05-22) | 63.23% | 0.69% | 1.15x |
| SPY | 733.0 | 3.0 | 738.18 | 4 (2026-05-18) | 65.86% | 0.41% | 1.15x |
| SPY | 730.0 | 3.36 | 738.18 | 6 (2026-05-20) | 69.31% | 0.46% | 1.14x |
| SPY | 730.0 | 3.99 | 738.18 | 7 (2026-05-21) | 67.71% | 0.55% | 1.14x |
| SPY | 732.0 | 2.77 | 738.18 | 4 (2026-05-18) | 68.38% | 0.38% | 1.14x |
| SPY | 730.0 | 2.63 | 738.18 | 5 (2026-05-19) | 71.67% | 0.36% | 1.14x |
| SPY | 731.0 | 4.61 | 738.18 | 8 (2026-05-22) | 65.24% | 0.63% | 1.14x |
| SPY | 730.0 | 4.31 | 738.18 | 8 (2026-05-22) | 67.04% | 0.59% | 1.13x |
| SPY | 729.0 | 3.02 | 738.18 | 6 (2026-05-20) | 71.50% | 0.41% | 1.13x |
| SPY | 729.0 | 2.42 | 738.18 | 5 (2026-05-19) | 73.69% | 0.33% | 1.13x |
| SPY | 738.0 | 9.1 | 738.18 | 13 (2026-05-29) | 51.39% | 1.23% | 1.13x |
| SPY | 729.0 | 4.08 | 738.18 | 8 (2026-05-22) | 68.65% | 0.56% | 1.13x |
| SPY | 731.0 | 2.45 | 738.18 | 4 (2026-05-18) | 71.04% | 0.34% | 1.13x |
| SPY | 737.0 | 8.55 | 738.18 | 13 (2026-05-29) | 53.11% | 1.16% | 1.13x |
| SPY | 736.0 | 8.23 | 738.18 | 13 (2026-05-29) | 54.76% | 1.12% | 1.13x |
| SPY | 735.0 | 7.76 | 738.18 | 13 (2026-05-29) | 56.45% | 1.06% | 1.12x |
| SPY | 734.0 | 7.48 | 738.18 | 13 (2026-05-29) | 58.01% | 1.02% | 1.12x |
| SPY | 730.0 | 2.19 | 738.18 | 4 (2026-05-18) | 73.47% | 0.30% | 1.12x |
| SPY | 732.0 | 6.8 | 738.18 | 13 (2026-05-29) | 61.05% | 0.93% | 1.12x |
| SPY | 733.0 | 6.93 | 738.18 | 13 (2026-05-29) | 59.75% | 0.95% | 1.12x |
| SPY | 729.0 | 2.04 | 738.18 | 4 (2026-05-18) | 75.33% | 0.28% | 1.11x |
| SPY | 730.0 | 6.18 | 738.18 | 13 (2026-05-29) | 64.03% | 0.85% | 1.11x |
| SPY | 725.0 | 2.76 | 738.18 | 7 (2026-05-21) | 76.05% | 0.38% | 1.11x |
| SPY | 737.0 | 10.35 | 738.18 | 18 (2026-06-05) | 52.96% | 1.40% | 1.11x |
| SPY | 738.0 | 10.65 | 738.18 | 18 (2026-06-05) | 51.53% | 1.44% | 1.11x |
| SPY | 731.0 | 6.17 | 738.18 | 13 (2026-05-29) | 62.97% | 0.84% | 1.11x |
| SPY | 736.0 | 9.93 | 738.18 | 18 (2026-06-05) | 54.38% | 1.35% | 1.11x |
| SPY | 735.0 | 9.64 | 738.18 | 18 (2026-06-05) | 55.73% | 1.31% | 1.11x |
| SPY | 734.0 | 9.15 | 738.18 | 18 (2026-06-05) | 57.14% | 1.25% | 1.10x |
| SPY | 729.0 | 5.68 | 738.18 | 13 (2026-05-29) | 65.76% | 0.78% | 1.10x |
| SPY | 732.0 | 8.57 | 738.18 | 18 (2026-06-05) | 59.71% | 1.17% | 1.10x |
| SPY | 732.0 | 1.95 | 738.18 | 3 (2026-05-15) | 71.76% | 0.27% | 1.10x |
| SPY | 731.0 | 8.24 | 738.18 | 18 (2026-06-05) | 60.97% | 1.13% | 1.10x |
| SPY | 733.0 | 8.51 | 738.18 | 18 (2026-06-05) | 58.65% | 1.16% | 1.10x |
| SPY | 730.0 | 7.67 | 738.18 | 18 (2026-06-05) | 62.45% | 1.05% | 1.10x |
| SPY | 729.0 | 7.51 | 738.18 | 18 (2026-06-05) | 63.54% | 1.03% | 1.10x |
| SPY | 731.0 | 1.69 | 738.18 | 3 (2026-05-15) | 74.69% | 0.23% | 1.09x |
| SPY | 720.0 | 1.89 | 738.18 | 7 (2026-05-21) | 82.63% | 0.26% | 1.08x |
| SPY | 730.0 | 1.45 | 738.18 | 3 (2026-05-15) | 77.52% | 0.20% | 1.08x |
| SPY | 729.0 | 1.3 | 738.18 | 3 (2026-05-15) | 79.41% | 0.18% | 1.07x |
| SPY | 715.0 | 1.45 | 738.18 | 7 (2026-05-21) | 86.76% | 0.20% | 1.07x |
| SPY | 731.0 | 0.99 | 738.18 | 2 (2026-05-14) | 79.85% | 0.14% | 1.06x |
| SPY | 730.0 | 0.83 | 738.18 | 2 (2026-05-14) | 82.67% | 0.11% | 1.05x |
| SPY | 710.0 | 0.97 | 738.18 | 7 (2026-05-21) | 90.69% | 0.14% | 1.05x |
| SPY | 729.0 | 0.74 | 738.18 | 2 (2026-05-14) | 84.56% | 0.10% | 1.04x |
| SPY | 705.0 | 0.74 | 738.18 | 7 (2026-05-21) | 92.96% | 0.10% | 1.04x |
| SPY | 700.0 | 0.55 | 738.18 | 7 (2026-05-21) | 94.75% | 0.08% | 1.03x |
| SPY | 695.0 | 0.46 | 738.18 | 7 (2026-05-21) | 95.74% | 0.07% | 1.02x |
| SPY | 731.0 | 0.36 | 738.18 | 1 (2026-05-13) | 88.18% | 0.05% | 1.02x |
| SPY | 730.0 | 0.28 | 738.18 | 1 (2026-05-13) | 90.47% | 0.04% | 1.02x |
| SPY | 690.0 | 0.32 | 738.18 | 7 (2026-05-21) | 96.94% | 0.05% | 1.02x |
| SPY | 729.0 | 0.23 | 738.18 | 1 (2026-05-13) | 92.32% | 0.03% | 1.01x |