Recommendation: ST
Current Price: $731.20
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 | 727.0 | 3.74 | 731.20 | 4 (2026-07-02) | 62.30% | 0.51% | 1.18x |
| SPY | 726.0 | 3.46 | 731.20 | 4 (2026-07-02) | 64.73% | 0.48% | 1.17x |
| SPY | 725.0 | 3.19 | 731.20 | 4 (2026-07-02) | 67.07% | 0.44% | 1.16x |
| SPY | 724.0 | 2.94 | 731.20 | 4 (2026-07-02) | 69.29% | 0.41% | 1.15x |
| SPY | 731.0 | 7.61 | 731.20 | 10 (2026-07-10) | 51.35% | 1.04% | 1.14x |
| SPY | 723.0 | 2.7 | 731.20 | 4 (2026-07-02) | 71.47% | 0.37% | 1.14x |
| SPY | 730.0 | 7.26 | 731.20 | 10 (2026-07-10) | 53.35% | 0.99% | 1.14x |
| SPY | 729.0 | 6.89 | 731.20 | 10 (2026-07-10) | 55.29% | 0.95% | 1.14x |
| SPY | 726.0 | 2.82 | 731.20 | 3 (2026-07-01) | 66.53% | 0.39% | 1.14x |
| SPY | 728.0 | 6.55 | 731.20 | 10 (2026-07-10) | 57.17% | 0.90% | 1.14x |
| SPY | 727.0 | 6.23 | 731.20 | 10 (2026-07-10) | 58.98% | 0.86% | 1.14x |
| SPY | 722.0 | 2.48 | 731.20 | 4 (2026-07-02) | 73.42% | 0.34% | 1.14x |
| SPY | 726.0 | 5.92 | 731.20 | 10 (2026-07-10) | 60.74% | 0.82% | 1.13x |
| SPY | 725.0 | 2.57 | 731.20 | 3 (2026-07-01) | 69.08% | 0.35% | 1.13x |
| SPY | 725.0 | 5.63 | 731.20 | 10 (2026-07-10) | 62.42% | 0.78% | 1.13x |
| SPY | 724.0 | 5.35 | 731.20 | 10 (2026-07-10) | 64.06% | 0.74% | 1.13x |
| SPY | 724.0 | 2.34 | 731.20 | 3 (2026-07-01) | 71.50% | 0.32% | 1.12x |
| SPY | 723.0 | 5.08 | 731.20 | 10 (2026-07-10) | 65.65% | 0.70% | 1.12x |
| SPY | 731.0 | 9.59 | 731.20 | 15 (2026-07-17) | 51.48% | 1.31% | 1.12x |
| SPY | 722.0 | 4.82 | 731.20 | 10 (2026-07-10) | 67.18% | 0.67% | 1.12x |
| SPY | 730.0 | 9.22 | 731.20 | 15 (2026-07-17) | 53.08% | 1.26% | 1.12x |
| SPY | 729.0 | 8.87 | 731.20 | 15 (2026-07-17) | 54.63% | 1.22% | 1.12x |
| SPY | 728.0 | 8.53 | 731.20 | 15 (2026-07-17) | 56.14% | 1.17% | 1.12x |
| SPY | 727.0 | 8.2 | 731.20 | 15 (2026-07-17) | 57.62% | 1.13% | 1.11x |
| SPY | 726.0 | 7.89 | 731.20 | 15 (2026-07-17) | 59.04% | 1.09% | 1.11x |
| SPY | 725.0 | 7.58 | 731.20 | 15 (2026-07-17) | 60.44% | 1.05% | 1.11x |
| SPY | 724.0 | 7.29 | 731.20 | 15 (2026-07-17) | 61.79% | 1.01% | 1.11x |
| SPY | 726.0 | 2.14 | 731.20 | 2 (2026-06-30) | 69.10% | 0.29% | 1.11x |
| SPY | 723.0 | 7.01 | 731.20 | 15 (2026-07-17) | 63.10% | 0.97% | 1.11x |
| SPY | 722.0 | 1.92 | 731.20 | 3 (2026-07-01) | 75.93% | 0.27% | 1.11x |
| SPY | 722.0 | 6.74 | 731.20 | 15 (2026-07-17) | 64.38% | 0.93% | 1.11x |
| SPY | 731.0 | 11.02 | 731.20 | 20 (2026-07-24) | 51.62% | 1.51% | 1.10x |
| SPY | 730.0 | 10.65 | 731.20 | 20 (2026-07-24) | 53.01% | 1.46% | 1.10x |
| SPY | 729.0 | 10.3 | 731.20 | 20 (2026-07-24) | 54.36% | 1.41% | 1.10x |
| SPY | 728.0 | 9.96 | 731.20 | 20 (2026-07-24) | 55.69% | 1.37% | 1.10x |
| SPY | 725.0 | 1.91 | 731.20 | 2 (2026-06-30) | 71.98% | 0.26% | 1.10x |
| SPY | 727.0 | 9.63 | 731.20 | 20 (2026-07-24) | 56.98% | 1.32% | 1.10x |
| SPY | 726.0 | 9.31 | 731.20 | 20 (2026-07-24) | 58.24% | 1.28% | 1.10x |
| SPY | 725.0 | 9.0 | 731.20 | 20 (2026-07-24) | 59.46% | 1.24% | 1.10x |
| SPY | 724.0 | 8.7 | 731.20 | 20 (2026-07-24) | 60.69% | 1.20% | 1.10x |
| SPY | 723.0 | 8.41 | 731.20 | 20 (2026-07-24) | 61.85% | 1.16% | 1.09x |
| SPY | 722.0 | 8.13 | 731.20 | 20 (2026-07-24) | 62.99% | 1.13% | 1.09x |
| SPY | 731.0 | 12.51 | 731.20 | 25 (2026-07-31) | 51.75% | 1.71% | 1.09x |
| SPY | 730.0 | 12.15 | 731.20 | 25 (2026-07-31) | 52.97% | 1.66% | 1.09x |
| SPY | 724.0 | 1.7 | 731.20 | 2 (2026-06-30) | 74.64% | 0.23% | 1.09x |
| SPY | 729.0 | 11.8 | 731.20 | 25 (2026-07-31) | 54.17% | 1.62% | 1.09x |
| SPY | 728.0 | 11.45 | 731.20 | 25 (2026-07-31) | 55.34% | 1.57% | 1.09x |
| SPY | 727.0 | 11.12 | 731.20 | 25 (2026-07-31) | 56.49% | 1.53% | 1.09x |
| SPY | 726.0 | 10.8 | 731.20 | 25 (2026-07-31) | 57.61% | 1.49% | 1.09x |
| SPY | 725.0 | 10.49 | 731.20 | 25 (2026-07-31) | 58.71% | 1.45% | 1.09x |
| SPY | 724.0 | 10.18 | 731.20 | 25 (2026-07-31) | 59.79% | 1.41% | 1.09x |
| SPY | 723.0 | 9.89 | 731.20 | 25 (2026-07-31) | 60.84% | 1.37% | 1.09x |
| SPY | 722.0 | 9.6 | 731.20 | 25 (2026-07-31) | 61.89% | 1.33% | 1.09x |
| SPY | 723.0 | 1.52 | 731.20 | 2 (2026-06-30) | 77.07% | 0.21% | 1.09x |
| SPY | 722.0 | 1.35 | 731.20 | 2 (2026-06-30) | 79.30% | 0.19% | 1.08x |
| SPY | 731.0 | 15.56 | 731.20 | 40 (2026-08-21) | 52.09% | 2.13% | 1.07x |
| SPY | 730.0 | 15.2 | 731.20 | 40 (2026-08-21) | 53.07% | 2.08% | 1.07x |
| SPY | 729.0 | 14.85 | 731.20 | 40 (2026-08-21) | 54.04% | 2.04% | 1.07x |
| SPY | 728.0 | 14.51 | 731.20 | 40 (2026-08-21) | 54.99% | 1.99% | 1.07x |
| SPY | 727.0 | 14.18 | 731.20 | 40 (2026-08-21) | 55.92% | 1.95% | 1.07x |
| SPY | 726.0 | 13.85 | 731.20 | 40 (2026-08-21) | 56.83% | 1.91% | 1.07x |
| SPY | 725.0 | 13.53 | 731.20 | 40 (2026-08-21) | 57.73% | 1.87% | 1.07x |
| SPY | 724.0 | 13.22 | 731.20 | 40 (2026-08-21) | 58.61% | 1.83% | 1.07x |
| SPY | 723.0 | 12.92 | 731.20 | 40 (2026-08-21) | 59.48% | 1.79% | 1.07x |
| SPY | 722.0 | 12.62 | 731.20 | 40 (2026-08-21) | 60.33% | 1.75% | 1.07x |
| SPY | 730.0 | 16.4 | 731.20 | 46 (2026-08-31) | 53.13% | 2.25% | 1.07x |
| SPY | 729.0 | 16.05 | 731.20 | 46 (2026-08-31) | 54.02% | 2.20% | 1.07x |
| SPY | 728.0 | 15.7 | 731.20 | 46 (2026-08-31) | 54.91% | 2.16% | 1.07x |
| SPY | 727.0 | 15.37 | 731.20 | 46 (2026-08-31) | 55.77% | 2.11% | 1.07x |
| SPY | 726.0 | 15.05 | 731.20 | 46 (2026-08-31) | 56.62% | 2.07% | 1.07x |
| SPY | 725.0 | 14.73 | 731.20 | 46 (2026-08-31) | 57.46% | 2.03% | 1.07x |
| SPY | 722.0 | 13.82 | 731.20 | 46 (2026-08-31) | 59.89% | 1.91% | 1.06x |
| SPY | 724.0 | 0.8 | 731.20 | 1 (2026-06-29) | 81.28% | 0.11% | 1.05x |
| SPY | 723.0 | 0.68 | 731.20 | 1 (2026-06-29) | 84.33% | 0.09% | 1.04x |
| SPY | 722.0 | 0.58 | 731.20 | 1 (2026-06-29) | 86.50% | 0.08% | 1.04x |