Portfolio — live-active-by-symbol-2026-03-30

Theta Concentration

Daily time decay accrual by underlying and expiration. Sorted by row total descending. Grand total = portfolio theta.

Symbol	Apr 17, 26	Apr 24, 26	May 1, 26	May 8, 26	Total
MSFT			3.620		3.620
STZ	2.723				2.723
WMT		2.703			2.703
MRNA	2.592				2.592
WFC		2.276			2.276
C	2.176				2.176
AMD		2.006			2.006
PLTR				1.853	1.853
NFLX			1.852		1.852
TSM			1.696		1.696
FCX			1.681		1.681
BABA			1.421		1.421
NVDA	1.378				1.378
UNH			1.292		1.292
INTC			1.113		1.113
AAPL	1.047				1.047
ORCL			1.044		1.044
IWM			0.799		0.799
AMZN			0.763		0.763
GOOGL			-0.378		-0.378
TOTAL	9.915	6.985	14.904	1.853	33.657

Delta Concentration — Directional Exposure

Net directional exposure by underlying and expiration. Bull Put spreads are positive delta, Bear Call spreads are negative. Sorted most positive first.

Symbol	Apr 17, 26	Apr 24, 26	May 1, 26	May 8, 26	Total
INTC			20.600		20.600
MRNA	18.483				18.483
FCX			13.117		13.117
C	10.317				10.317
NVDA	10.244				10.244
AAPL	8.848				8.848
ORCL			6.921		6.921
IWM			6.411		6.411
GOOGL			6.194		6.194
AMZN			5.698		5.698
PLTR				3.420	3.420
UNH			-1.754		-1.754
TSM			-1.928		-1.928
AMD		-3.009			-3.009
BABA			-5.333		-5.333
MSFT			-5.385		-5.385
STZ	-6.906				-6.906
NFLX			-10.105		-10.105
WFC		-12.754			-12.754
WMT		-17.318			-17.318
TOTAL	40.985	-33.081	34.437	3.420	45.761

Gamma Concentration — Convexity Risk

All values are negative (credit spreads are short gamma). More red = more exposure to large moves in either direction. Sorted by row total ascending (most exposed first).

Symbol	Apr 17, 26	Apr 24, 26	May 1, 26	May 8, 26	Total
MRNA	-2.146				-2.146
WFC		-1.639			-1.639
INTC			-1.550		-1.550
WMT		-1.431			-1.431
FCX			-1.192		-1.192
NFLX			-0.834		-0.834
NVDA	-0.715				-0.715
PLTR				-0.715	-0.715
C	-0.596				-0.596
AAPL	-0.477				-0.477
STZ	-0.477				-0.477
BABA			-0.298		-0.298
AMD		-0.238			-0.238
TSM			-0.238		-0.238
UNH			-0.119		-0.119
AMZN			0.000		0.000
MSFT			0.238		0.238
IWM			0.477		0.477
ORCL			0.477		0.477
GOOGL			0.954		0.954
TOTAL	-4.411	-3.308	-2.086	-0.715	-10.520

Vega Concentration — Short Volatility Risk

All values are negative (short premium = short vega). Sorted by row total ascending (most exposed first). Grand total = how much the book loses per 1% rise in IV across all positions.

Symbol	Apr 17, 26	Apr 24, 26	May 1, 26	May 8, 26	Total
MSFT			-5.865		-5.865
WMT		-4.487			-4.487
PLTR				-2.815	-2.815
WFC		-2.734			-2.734
NFLX			-2.605		-2.605
IWM			-2.468		-2.468
AAPL	-2.440				-2.440
STZ	-2.338				-2.338
BABA			-2.185		-2.185
TSM			-2.179		-2.179
C	-1.970				-1.970
NVDA	-1.907				-1.907
FCX			-1.901		-1.901
AMZN			-1.818		-1.818
AMD		-1.810			-1.810
UNH			-1.783		-1.783
ORCL			-1.520		-1.520
MRNA	-1.502				-1.502
INTC			-1.248		-1.248
GOOGL			-0.401		-0.401
TOTAL	-10.157	-9.030	-23.973	-2.815	-45.976

Theta / |Gamma| Quality

Daily time decay collected per unit of convexity risk. Higher = better compensated. Sorted best → worst.

Symbol	Expiry	Position	Θ / \|Γ\|
MSFT	May 1, 26	MSFT May 1st 400/410 Bear Call Spread	15.185
UNH	May 1, 26	UNH May 1st 315/320 Bear Call Spread	10.841
AMD	Apr 24, 26	AMD Apr 24th 230/235 Bear Call Spread	8.416
TSM	May 1, 26	TSM May 1st 375/380 Bear Call Spread	7.114
STZ	Apr 17, 26	STZ Apr 17th 165/170 Bear Call Spread	5.710
BABA	May 1, 26	BABA May 1st 140/145 Bear Call Spread	4.770
PLTR	May 8, 26	PLTR May 8th 180/185 Bear Call Spread	3.902
C	Apr 17, 26	C Apr 17th 95/100 Bull Put Spread	3.650
NFLX	May 1, 26	NFLX May 1st 103/108 Bear Call Spread	2.220
AAPL	Apr 17, 26	AAPL Apr 17th 235/240 Bull Put Spread	2.195
ORCL	May 1, 26	ORCL May 1st 125/130 Bull Put Spread	2.189
PLTR	May 8, 26	PLTR May 8th 120/125 Bull Put Spread	1.934
NVDA	Apr 17, 26	NVDA Apr 17th 155/160 Bull Put Spread	1.926
WMT	Apr 24, 26	WMT Apr 24th 129/135 Bear Call Spread	1.889
IWM	May 1, 26	IWM May 1st 225/230 Bull Put Spread	1.675
FCX	May 1, 26	FCX May 1st 44/49 Bull Put Spread	1.410
WFC	Apr 24, 26	WFC Apr 24th 84/89 Bear Call Spread	1.389
MRNA	Apr 17, 26	MRNA Apr 17th 40/45 Bull Put Spread	1.208
INTC	May 1, 26	INTC May 1st 35/40 Bull Put Spread	0.718
GOOGL	May 1, 26	GOOGL May 1st 270/275 Bull Put Spread	-0.396
AMZN	May 1, 26	AMZN May 1st 185/190 Bull Put Spread	—

Theta / |Vega| Quality

Daily time decay collected per unit of volatility exposure. Higher = better compensated for a vol spike. Sorted best → worst.

Symbol	Expiry	Position	Θ / \|V\|
MRNA	Apr 17, 26	MRNA Apr 17th 40/45 Bull Put Spread	1.725
STZ	Apr 17, 26	STZ Apr 17th 165/170 Bear Call Spread	1.165
AMD	Apr 24, 26	AMD Apr 24th 230/235 Bear Call Spread	1.109
C	Apr 17, 26	C Apr 17th 95/100 Bull Put Spread	1.104
INTC	May 1, 26	INTC May 1st 35/40 Bull Put Spread	0.892
FCX	May 1, 26	FCX May 1st 44/49 Bull Put Spread	0.884
WFC	Apr 24, 26	WFC Apr 24th 84/89 Bear Call Spread	0.833
TSM	May 1, 26	TSM May 1st 375/380 Bear Call Spread	0.778
PLTR	May 8, 26	PLTR May 8th 180/185 Bear Call Spread	0.739
UNH	May 1, 26	UNH May 1st 315/320 Bear Call Spread	0.725
NVDA	Apr 17, 26	NVDA Apr 17th 155/160 Bull Put Spread	0.723
NFLX	May 1, 26	NFLX May 1st 103/108 Bear Call Spread	0.711
ORCL	May 1, 26	ORCL May 1st 125/130 Bull Put Spread	0.687
BABA	May 1, 26	BABA May 1st 140/145 Bear Call Spread	0.651
MSFT	May 1, 26	MSFT May 1st 400/410 Bear Call Spread	0.617
WMT	Apr 24, 26	WMT Apr 24th 129/135 Bear Call Spread	0.602
PLTR	May 8, 26	PLTR May 8th 120/125 Bull Put Spread	0.592
AAPL	Apr 17, 26	AAPL Apr 17th 235/240 Bull Put Spread	0.429
AMZN	May 1, 26	AMZN May 1st 185/190 Bull Put Spread	0.420
IWM	May 1, 26	IWM May 1st 225/230 Bull Put Spread	0.324
GOOGL	May 1, 26	GOOGL May 1st 270/275 Bull Put Spread	-0.942

Position Scorecard

Each column normalized independently. Grouped by expiration, sorted by Theta within each group.

Symbol	Type	Expiry	Chance	Credit	Max Profit	Max Loss	EV	Θ Theta	Vega	Γ Gamma	IV	Θ/\|Γ\|	Θ/\|V\|	Return
STZ	Bear Call	Apr 17, 26	85.3%	$60	$60	$440	-$13	2.723	-2.338	-0.4768	43.1%	5.71	1.16	0.0%
MRNA	Bull Put	Apr 17, 26	68.3%	$65	$65	$435	-$93	2.592	-1.502	-2.1458	77.0%	1.21	1.73	-77.7%
C	Bull Put	Apr 17, 26	73.3%	$72	$72	$428	-$62	2.176	-1.970	-0.5960	56.1%	3.65	1.10	-31.3%
NVDA	Bull Put	Apr 17, 26	63.5%	$73	$73	$427	-$109	1.378	-1.907	-0.7153	45.4%	1.93	0.72	-89.7%
AAPL	Bull Put	Apr 17, 26	63.9%	$61	$61	$439	-$120	1.047	-2.440	-0.4768	34.2%	2.19	0.43	-109.0%

WMT	Bear Call	Apr 24, 26	74.5%	$66	$66	$534	-$87	2.703	-4.487	-1.4305	28.0%	1.89	0.60	-66.7%
WFC	Bear Call	Apr 24, 26	83.6%	$60	$60	$440	-$22	2.276	-2.734	-1.6391	38.9%	1.39	0.83	-1.7%
AMD	Bear Call	Apr 24, 26	88.7%	$65	$65	$436	$8	2.006	-1.810	-0.2384	53.9%	8.42	1.11	28.7%

MSFT	Bear Call	May 1, 26	84.7%	$130	$130	$870	-$23	3.620	-5.865	0.2384	36.9%	15.18	0.62	0.4%
NFLX	Bear Call	May 1, 26	81.3%	$64	$64	$436	-$29	1.852	-2.605	-0.8345	41.7%	2.22	0.71	-17.2%
TSM	Bear Call	May 1, 26	89.2%	$75	$75	$425	$21	1.696	-2.179	-0.2384	46.6%	7.11	0.78	37.3%
FCX	Bull Put	May 1, 26	74.5%	$75	$75	$425	-$53	1.681	-1.901	-1.1921	67.3%	1.41	0.88	-38.0%
BABA	Bear Call	May 1, 26	86.9%	$67	$67	$433	$1	1.421	-2.185	-0.2980	42.4%	4.77	0.65	32.1%
UNH	Bear Call	May 1, 26	89.2%	$59	$59	$441	$5	1.292	-1.783	-0.1192	46.8%	10.84	0.72	44.9%
INTC	Bull Put	May 1, 26	57.3%	$72	$72	$428	-$141	1.113	-1.248	-1.5497	73.8%	0.72	0.89	-144.4%
ORCL	Bull Put	May 1, 26	65.2%	$84	$84	$416	-$90	1.044	-1.520	0.4768	63.1%	2.19	0.69	-87.5%
IWM	Bull Put	May 1, 26	65.6%	$74	$74	$426	-$98	0.799	-2.468	0.4768	37.0%	1.68	0.32	-81.8%
AMZN	Bull Put	May 1, 26	65.2%	$81	$81	$420	-$93	0.763	-1.818	0.0000	50.5%	—	0.42	-70.8%
GOOGL	Bull Put	May 1, 26	48.1%	$86	$86	$414	-$174	-0.378	-0.401	0.9537	40.4%	-0.40	-0.94	-161.6%

PLTR	Bear Call	May 8, 26	88.9%	$65	$65	$435	$9	0.930	-1.258	-0.2384	58.6%	3.90	0.74	59.2%
PLTR	Bull Put	May 8, 26	67.5%	$84	$84	$416	-$79	0.922	-1.557	-0.4768	69.4%	1.93	0.59	-66.7%

TOTAL / AVG			74.5% avg	$1537	$1537	$9563	-$1243	33.657	-45.976	-10.5202	50.0% avg	3.20	14.77	-841.4%

Column guide — EV & Greeks

EV: Binary-outcome expected value: Chance × Max Profit − (1 − Chance) × Max Loss. Treats the trade as either expiring fully worthless (max profit) or reaching max loss — nothing in between. Negative EV is normal and expected for credit spreads: max loss is typically 4–10× max profit, so even an 80% winner produces a negative number. Use EV as a relative ranking across positions, not as an absolute signal. A less-negative EV means the risk/reward ratio is better for a given probability.
Θ Theta: Daily time decay in dollars. Positive means the position earns money each day that passes with everything else held constant. Credit spreads are short premium, so theta is always positive — you are the one collecting the decay. The Theta Concentration section at the top of this page shows how this is distributed across underlyings and expirations.
Vega: Dollar change in position value per 1% rise in implied volatility (IV). Negative for all credit spreads — you sold premium, so a spike in IV increases the value of what you owe and hurts you. The magnitude tells you how exposed a position is to a volatility event. The Vega Concentration section shows this aggregated across the book.
Γ Gamma: Rate of change of delta per $1 move in the underlying. Negative for credit spreads — a large move in either direction increases your directional exposure in the wrong direction (losses accelerate as the underlying moves against you). Near-expiry, at-the-money positions carry the most gamma risk.
IV: Implied volatility of the underlying at the time the position was entered. Higher IV at entry means you collected more premium relative to the width of the spread — generally a more favourable entry environment for credit strategies. Not updated in real time; it reflects the entry conditions.
Θ / |Γ|: Quality ratio: how much daily theta you earn per unit of gamma risk. Higher is better — the position is well compensated for the convexity exposure it carries. Useful for comparing two positions with similar probability profiles but different risk/reward dynamics. Positions with gamma = 0 (deep in- or out-of-the-money, no convexity) are excluded from ranking.
Θ / |V|: How much daily theta you earn per dollar lost if implied volatility rises by 1%. Higher is better — the position is well compensated for its volatility exposure. Low values identify positions that are cheapest to close into a vol spike: you are earning little time decay relative to how much a sustained IV expansion would hurt you. Complements Θ/|Γ| — gamma risk is acute and move-driven, vega risk is broader and regime-driven. A position can score well on one and poorly on the other.
Return: Current mark-to-market return on the position as a percentage of max profit. 100% means the spread has expired worthless and you kept all the premium. Negative means the position is currently at a loss relative to entry. Colour is diverging: green for positive return, red for negative.