Recommendation: ST
Current Price: $653.18
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 | 653.0 | 8.03 | 653.18 | 5 (2026-03-30) | 51.15% | 1.23% | 1.37x |
| SPY | 652.0 | 7.64 | 653.18 | 5 (2026-03-30) | 53.08% | 1.17% | 1.37x |
| SPY | 651.0 | 7.21 | 653.18 | 5 (2026-03-30) | 54.98% | 1.11% | 1.36x |
| SPY | 650.0 | 6.87 | 653.18 | 5 (2026-03-30) | 56.80% | 1.06% | 1.35x |
| SPY | 653.0 | 8.96 | 653.18 | 6 (2026-03-31) | 51.20% | 1.37% | 1.34x |
| SPY | 649.0 | 6.46 | 653.18 | 5 (2026-03-30) | 58.64% | 1.00% | 1.34x |
| SPY | 652.0 | 8.55 | 653.18 | 6 (2026-03-31) | 52.93% | 1.31% | 1.34x |
| SPY | 651.0 | 8.18 | 653.18 | 6 (2026-03-31) | 54.62% | 1.26% | 1.33x |
| SPY | 648.0 | 6.12 | 653.18 | 5 (2026-03-30) | 60.41% | 0.94% | 1.33x |
| SPY | 650.0 | 7.79 | 653.18 | 6 (2026-03-31) | 56.29% | 1.20% | 1.33x |
| SPY | 647.0 | 5.8 | 653.18 | 5 (2026-03-30) | 62.08% | 0.90% | 1.32x |
| SPY | 649.0 | 7.42 | 653.18 | 6 (2026-03-31) | 57.92% | 1.14% | 1.32x |
| SPY | 646.0 | 5.49 | 653.18 | 5 (2026-03-30) | 63.76% | 0.85% | 1.31x |
| SPY | 648.0 | 7.05 | 653.18 | 6 (2026-03-31) | 59.53% | 1.09% | 1.31x |
| SPY | 653.0 | 9.55 | 653.18 | 7 (2026-04-01) | 51.24% | 1.46% | 1.31x |
| SPY | 652.0 | 9.15 | 653.18 | 7 (2026-04-01) | 52.87% | 1.40% | 1.30x |
| SPY | 647.0 | 6.72 | 653.18 | 6 (2026-03-31) | 61.08% | 1.04% | 1.30x |
| SPY | 645.0 | 5.16 | 653.18 | 5 (2026-03-30) | 65.43% | 0.80% | 1.30x |
| SPY | 651.0 | 8.74 | 653.18 | 7 (2026-04-01) | 54.47% | 1.34% | 1.30x |
| SPY | 646.0 | 6.42 | 653.18 | 6 (2026-03-31) | 62.57% | 0.99% | 1.30x |
| SPY | 650.0 | 8.38 | 653.18 | 7 (2026-04-01) | 56.03% | 1.29% | 1.30x |
| SPY | 644.0 | 4.87 | 653.18 | 5 (2026-03-30) | 67.01% | 0.76% | 1.29x |
| SPY | 649.0 | 8.0 | 653.18 | 7 (2026-04-01) | 57.57% | 1.23% | 1.29x |
| SPY | 645.0 | 6.11 | 653.18 | 6 (2026-03-31) | 64.05% | 0.95% | 1.29x |
| SPY | 648.0 | 7.69 | 653.18 | 7 (2026-04-01) | 59.04% | 1.19% | 1.29x |
| SPY | 653.0 | 10.08 | 653.18 | 8 (2026-04-02) | 51.29% | 1.54% | 1.28x |
| SPY | 644.0 | 5.8 | 653.18 | 6 (2026-03-31) | 65.54% | 0.90% | 1.28x |
| SPY | 652.0 | 9.68 | 653.18 | 8 (2026-04-02) | 52.83% | 1.48% | 1.28x |
| SPY | 647.0 | 7.32 | 653.18 | 7 (2026-04-01) | 60.53% | 1.13% | 1.28x |
| SPY | 651.0 | 9.29 | 653.18 | 8 (2026-04-02) | 54.34% | 1.43% | 1.28x |
| SPY | 646.0 | 7.0 | 653.18 | 7 (2026-04-01) | 61.95% | 1.08% | 1.27x |
| SPY | 650.0 | 8.93 | 653.18 | 8 (2026-04-02) | 55.82% | 1.37% | 1.27x |
| SPY | 649.0 | 8.58 | 653.18 | 8 (2026-04-02) | 57.26% | 1.32% | 1.27x |
| SPY | 652.0 | 5.69 | 653.18 | 4 (2026-03-27) | 53.64% | 0.87% | 1.27x |
| SPY | 645.0 | 6.67 | 653.18 | 7 (2026-04-01) | 63.37% | 1.03% | 1.27x |
| SPY | 648.0 | 8.24 | 653.18 | 8 (2026-04-02) | 58.67% | 1.27% | 1.26x |
| SPY | 644.0 | 6.4 | 653.18 | 7 (2026-04-01) | 64.68% | 0.99% | 1.26x |
| SPY | 647.0 | 7.89 | 653.18 | 8 (2026-04-02) | 60.07% | 1.22% | 1.26x |
| SPY | 651.0 | 5.26 | 653.18 | 4 (2026-03-27) | 56.13% | 0.81% | 1.26x |
| SPY | 646.0 | 7.56 | 653.18 | 8 (2026-04-02) | 61.43% | 1.17% | 1.25x |
| SPY | 645.0 | 7.25 | 653.18 | 8 (2026-04-02) | 62.75% | 1.12% | 1.25x |
| SPY | 650.0 | 4.85 | 653.18 | 4 (2026-03-27) | 58.58% | 0.75% | 1.25x |
| SPY | 644.0 | 6.95 | 653.18 | 8 (2026-04-02) | 64.05% | 1.08% | 1.24x |
| SPY | 649.0 | 4.52 | 653.18 | 4 (2026-03-27) | 60.89% | 0.70% | 1.24x |
| SPY | 648.0 | 4.19 | 653.18 | 4 (2026-03-27) | 63.14% | 0.65% | 1.23x |
| SPY | 647.0 | 3.88 | 653.18 | 4 (2026-03-27) | 65.32% | 0.60% | 1.22x |
| SPY | 646.0 | 3.58 | 653.18 | 4 (2026-03-27) | 67.44% | 0.55% | 1.21x |
| SPY | 653.0 | 12.66 | 653.18 | 14 (2026-04-10) | 51.52% | 1.94% | 1.20x |
| SPY | 645.0 | 3.29 | 653.18 | 4 (2026-03-27) | 69.50% | 0.51% | 1.20x |
| SPY | 652.0 | 12.3 | 653.18 | 14 (2026-04-10) | 52.74% | 1.89% | 1.20x |
| SPY | 651.0 | 11.92 | 653.18 | 14 (2026-04-10) | 53.95% | 1.83% | 1.19x |
| SPY | 650.0 | 11.54 | 653.18 | 14 (2026-04-10) | 55.14% | 1.78% | 1.19x |
| SPY | 649.0 | 11.2 | 653.18 | 14 (2026-04-10) | 56.30% | 1.73% | 1.19x |
| SPY | 648.0 | 10.88 | 653.18 | 14 (2026-04-10) | 57.42% | 1.68% | 1.19x |
| SPY | 647.0 | 10.55 | 653.18 | 14 (2026-04-10) | 58.54% | 1.63% | 1.19x |
| SPY | 644.0 | 3.04 | 653.18 | 4 (2026-03-27) | 71.44% | 0.47% | 1.18x |
| SPY | 646.0 | 10.22 | 653.18 | 14 (2026-04-10) | 59.64% | 1.58% | 1.18x |
| SPY | 650.0 | 3.58 | 653.18 | 3 (2026-03-26) | 60.49% | 0.55% | 1.18x |
| SPY | 645.0 | 9.88 | 653.18 | 14 (2026-04-10) | 60.72% | 1.53% | 1.18x |
| SPY | 644.0 | 9.62 | 653.18 | 14 (2026-04-10) | 61.74% | 1.49% | 1.18x |
| SPY | 649.0 | 3.26 | 653.18 | 3 (2026-03-26) | 63.34% | 0.50% | 1.17x |
| SPY | 653.0 | 14.43 | 653.18 | 19 (2026-04-17) | 51.69% | 2.21% | 1.16x |
| SPY | 648.0 | 2.93 | 653.18 | 3 (2026-03-26) | 66.17% | 0.45% | 1.16x |
| SPY | 652.0 | 14.06 | 653.18 | 19 (2026-04-17) | 52.77% | 2.16% | 1.16x |
| SPY | 651.0 | 13.74 | 653.18 | 19 (2026-04-17) | 53.82% | 2.11% | 1.16x |
| SPY | 650.0 | 13.37 | 653.18 | 19 (2026-04-17) | 54.86% | 2.06% | 1.16x |
| SPY | 649.0 | 13.01 | 653.18 | 19 (2026-04-17) | 55.89% | 2.00% | 1.16x |
| SPY | 648.0 | 12.69 | 653.18 | 19 (2026-04-17) | 56.88% | 1.96% | 1.16x |
| SPY | 647.0 | 12.36 | 653.18 | 19 (2026-04-17) | 57.87% | 1.91% | 1.16x |
| SPY | 646.0 | 12.04 | 653.18 | 19 (2026-04-17) | 58.83% | 1.86% | 1.16x |
| SPY | 645.0 | 11.74 | 653.18 | 19 (2026-04-17) | 59.78% | 1.82% | 1.15x |
| SPY | 644.0 | 11.44 | 653.18 | 19 (2026-04-17) | 60.70% | 1.78% | 1.15x |
| SPY | 647.0 | 2.64 | 653.18 | 3 (2026-03-26) | 68.84% | 0.41% | 1.15x |
| SPY | 646.0 | 2.38 | 653.18 | 3 (2026-03-26) | 71.33% | 0.37% | 1.14x |
| SPY | 645.0 | 2.11 | 653.18 | 3 (2026-03-26) | 73.83% | 0.33% | 1.13x |
| SPY | 644.0 | 1.89 | 653.18 | 3 (2026-03-26) | 76.09% | 0.29% | 1.12x |
| SPY | 648.0 | 1.44 | 653.18 | 2 (2026-03-25) | 72.98% | 0.22% | 1.09x |
| SPY | 647.0 | 1.23 | 653.18 | 2 (2026-03-25) | 76.33% | 0.19% | 1.08x |
| SPY | 646.0 | 1.02 | 653.18 | 2 (2026-03-25) | 79.57% | 0.16% | 1.07x |
| SPY | 645.0 | 0.84 | 653.18 | 2 (2026-03-25) | 82.58% | 0.13% | 1.06x |
| SPY | 644.0 | 0.71 | 653.18 | 2 (2026-03-25) | 84.96% | 0.11% | 1.05x |
| SPY | 645.0 | 0.01 | 653.18 | 1 (2026-03-24) | 99.33% | 0.00% | 1.00x |
| SPY | 644.0 | 0.01 | 653.18 | 1 (2026-03-24) | 98.97% | 0.00% | 1.00x |
| SPY | 646.0 | 0.01 | 653.18 | 1 (2026-03-24) | 99.20% | 0.00% | 1.00x |