Recommendation: NO
Current Price: $225.80
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 | 225.0 | 4.5 | 225.80 | 6 (2026-02-13) | 53.78% | 2.00% | 1.57x |
| SPXL | 217.5 | 2.4 | 225.80 | 6 (2026-02-13) | 73.27% | 1.10% | 1.40x |
| SPXL | 225.0 | 6.2 | 225.80 | 11 (2026-02-20) | 53.55% | 2.76% | 1.40x |
| SPXL | 215.0 | 33.5 | 225.80 | 246 (2027-01-15) | 63.67% | 15.58% | 1.10x |