Recommendation: HV
Current Price: $30.99
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 | 30.0 | 1.07 | 30.99 | 9 (2025-05-16) E | 62.71% | 3.57% | 1.86x |
| APPN | 27.5 | 0.49 | 30.99 | 9 (2025-05-16) E | 81.45% | 1.78% | 1.50x |
| APPN | 27.5 | 0.9 | 30.99 | 34 (2025-06-20) E | 76.63% | 3.27% | 1.20x |
| APPN | 17.5 | 0.1 | 30.99 | 9 (2025-05-16) E | 98.16% | 0.57% | 1.17x |
| APPN | 27.5 | 2.55 | 30.99 | 119 (2025-10-17) E | 69.98% | 9.27% | 1.14x |
| APPN | 25.0 | 0.48 | 30.99 | 34 (2025-06-20) E | 86.84% | 1.92% | 1.13x |
| APPN | 30.0 | 4.2 | 30.99 | 184 (2026-01-16) E | 61.51% | 14.00% | 1.12x |