Recommendation: NO
Current Price: $188.56
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 | 187.5 | 4.6 | 188.56 | 4 (2026-03-27) | 54.70% | 2.45% | 1.96x |
| SPXL | 185.0 | 3.6 | 188.56 | 4 (2026-03-27) | 62.19% | 1.95% | 1.83x |
| SPXL | 160.0 | 1.65 | 188.56 | 8 (2026-04-02) | 88.48% | 1.03% | 1.33x |
| SPXL | 160.0 | 14.2 | 188.56 | 84 (2026-07-17) | 73.52% | 8.87% | 1.21x |
| SPXL | 179.0 | 28.0 | 188.56 | 214 (2027-01-15) | 63.87% | 15.64% | 1.12x |
| SPXL | 183.0 | 26.0 | 188.56 | 214 (2027-01-15) | 61.37% | 14.21% | 1.10x |