Your call is up $1,140.
Hold it and you lose $1,840.
Both are true of the same contract, at the same moment. One is what you would bank by closing it now. The other is what happens if the stock sits exactly where it is until expiration. You get both figures, and the date they change places.
Four things you know before you type anything.
Strike, expiration, contract count and days remaining are read off the legs of the trade itself, so the position identifies itself the moment it imports. What it cost you and the price it has to reach follow from that, with no contract price and no subscription involved.
Bought contracts are kept apart from your wheel results, so a hedge or a directional bet never quietly flatters the income you are actually tracking.
Your breakeven is not a number.
It is a deadline.
Everyone quotes breakeven as strike plus what you paid, $133.20 here. That is only true on the last day. Before it, the contract still carries time value, so the price you actually need is lower. As that time value burns off, the price you need climbs.
We ask what the contract is trading at. Not what volatility is.
Almost nobody can eyeball a volatility figure. Everybody can read a contract price off their broker in two seconds. Give us the price and we work backwards to the volatility that explains it, which means every figure here is anchored to something you observed rather than something we assumed.
Per share, the way it is quoted. With a supported broker connected we read it off your position and you never type it at all.
Every price, every date, one screen.
Pick any stock price down the side and any date across the top. The cell is what the whole position is worth against what you paid. Amber is profit, red is loss.
| Stock | today | +10d | +21d | +31d | +42d | +52d |
|---|---|---|---|---|---|---|
| $162.01 | $12,078 | $11,918 | $11,766 | $11,658 | $11,580 | $11,525 |
| $150.88 | $7,980 | $7,741 | $7,490 | $7,288 | $7,134 | $7,070 |
| $139.74 | $4,254 | $3,928 | $3,548 | $3,184 | $2,792 | $2,615 |
| $128.60 now | $1,140 | $765 | $300 | -$193 | -$883 | -$1,840 |
| $117.46 | -$1,133 | -$1,469 | -$1,877 | -$2,297 | -$2,841 | -$3,280 |
| $106.32 | -$2,484 | -$2,696 | -$2,924 | -$3,113 | -$3,258 | -$3,280 |
| $95.19 | -$3,079 | -$3,162 | -$3,232 | -$3,269 | -$3,280 | -$3,280 |
Follow the bottom rows right and the loss stops at $3,280. That is what you paid, and a bought option cannot lose more than it cost. The map shows that ceiling on risk rather than asking you to take it on trust.
At today's $128.60, the row runs +$1,140 today to -$1,840 at expiration. That single row is the whole argument for having a deadline instead of a breakeven.
Priced in dollars a day, not in Greek letters.
The sensitivities matter, but not in the form a textbook gives them. Scaled to the contracts you actually hold, they turn into plain sentences about your money.
Bleeds out of the position each day the stock stands still. Theta -35.80 per share, per day.
What the position gains or loses for every dollar the stock moves. Delta 0.612, and it grows as you go further in the money.
Gained or lost if implied volatility shifts one point. The reason a correct directional call can still lose money.
How fast delta itself moves, which is why the last two weeks feel nothing like the first four.
Shallow at first, then a cliff. Two thirds of what you are holding is gone by expiration without the stock doing anything wrong, and most of that goes in the final stretch.
Puts run the same, with the arithmetic mirrored.
A long put breaks even at the strike minus what you paid, and its requirement falls over time instead of climbing. Everything else is identical: value from the contract price, a profit map across price and date, a loss capped at the debit, and the same deadline logic pointing the other way. Whether you bought protection or bought direction, the position gets read the same way.
See how the wheel side works on the wheel tracker, or read the methodology for the pricing model itself.
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