Recommendation: HV
Current Price: $25.85
Total Wheels: 5
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 |
|---|---|---|---|---|---|---|---|
| APPN | 25.0 | 1.45 | 25.85 | 13 (2026-02-20) | 60.89% | 5.80% | 1.96x |
| APPN | 22.5 | 0.67 | 25.85 | 13 (2026-02-20) | 78.94% | 2.98% | 1.57x |
| APPN | 25.0 | 1.78 | 25.85 | 33 (2026-03-20) | 60.53% | 7.12% | 1.38x |
| APPN | 22.5 | 0.87 | 25.85 | 33 (2026-03-20) | 76.96% | 3.87% | 1.25x |
| APPN | 25.0 | 2.76 | 25.85 | 73 (2026-05-15) | 60.65% | 11.04% | 1.25x |
| APPN | 25.0 | 3.8 | 25.85 | 143 (2026-08-21) | 61.84% | 15.20% | 1.17x |