Recommendation: NO
Current Price: $225.33
Total Wheels: 3
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 |
|---|---|---|---|---|---|---|---|
| SPXL | 222.5 | 6.9 | 225.33 | 14 (2026-02-20) | 57.41% | 3.10% | 1.37x |
| SPXL | 217.5 | 1.8 | 225.33 | 4 (2026-02-06) | 75.61% | 0.83% | 1.37x |
| SPXL | 210.0 | 4.0 | 225.33 | 14 (2026-02-20) | 75.31% | 1.90% | 1.29x |
| SPXL | 225.0 | 13.3 | 225.33 | 34 (2026-03-20) | 53.64% | 5.91% | 1.26x |
| SPXL | 202.5 | 3.9 | 225.33 | 19 (2026-02-27) | 79.66% | 1.93% | 1.22x |
| SPXL | 205.0 | 0.65 | 225.33 | 4 (2026-02-06) | 91.43% | 0.32% | 1.16x |
| SPXL | 197.0 | 16.7 | 225.33 | 119 (2026-07-17) | 71.60% | 8.48% | 1.13x |