Portfolio — live-active-by-symbol-2026-03-31

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	May 15, 26	Total
MSFT			3.771			3.771
STZ	3.629					3.629
MRNA	2.958					2.958
WFC		2.689				2.689
WMT		2.572				2.572
NVDA	2.369					2.369
C	2.271					2.271
AMD		2.146				2.146
TSM			2.141			2.141
FCX			2.017			2.017
NFLX			1.947			1.947
BABA			1.810			1.810
AAPL	1.707					1.707
UNH			1.545			1.545
INTC			1.517			1.517
ORCL			1.195			1.195
IWM			1.178			1.178
AMZN			1.113			1.113
PLTR				1.111		1.111
CRWV					1.089	1.089
GOOGL			0.968			0.968
TOTAL	12.935	7.408	19.202	1.111	1.089	41.745

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	May 15, 26	Total
INTC			19.041			19.041
MRNA	15.484					15.484
FCX			10.224			10.224
AAPL	8.281					8.281
NVDA	7.837					7.837
C	7.100					7.100
ORCL			6.050			6.050
GOOGL			5.860			5.860
IWM			5.606			5.606
PLTR				4.933		4.933
AMZN			4.909			4.909
UNH			-2.117			-2.117
TSM			-2.737			-2.737
AMD		-3.731				-3.731
CRWV					-5.511	-5.511
BABA			-6.205			-6.205
MSFT			-6.506			-6.506
STZ	-7.430					-7.430
NFLX			-11.823			-11.823
WFC		-16.288				-16.288
WMT		-16.909				-16.909
TOTAL	31.273	-36.928	22.301	4.933	-5.511	16.068

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	May 15, 26	Total
MRNA	-1.937					-1.937
WMT		-1.937				-1.937
WFC		-1.788				-1.788
INTC			-1.669			-1.669
FCX			-1.073			-1.073
NFLX			-1.013			-1.013
AMZN			-0.954			-0.954
C	-0.596					-0.596
NVDA	-0.596					-0.596
STZ	-0.596					-0.596
BABA			-0.536			-0.536
TSM			-0.477			-0.477
AAPL	-0.238					-0.238
CRWV					-0.238	-0.238
IWM			-0.238			-0.238
AMD		-0.119				-0.119
PLTR				0.000		0.000
UNH			0.000			0.000
ORCL			0.238			0.238
MSFT			0.477			0.477
GOOGL			0.954			0.954
TOTAL	-3.964	-3.844	-4.292	0.000	-0.238	-12.338

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	May 15, 26	Total
MSFT			-6.178			-6.178
WMT		-4.653				-4.653
AAPL	-3.102					-3.102
WFC		-3.034				-3.034
IWM			-3.005			-3.005
NFLX			-2.676			-2.676
TSM			-2.659			-2.659
BABA			-2.657			-2.657
STZ	-2.568					-2.568
NVDA	-2.480					-2.480
AMZN			-2.183			-2.183
AMD		-2.026				-2.026
UNH			-1.988			-1.988
FCX			-1.988			-1.988
C	-1.910					-1.910
ORCL			-1.803			-1.803
PLTR				-1.777		-1.777
GOOGL			-1.586			-1.586
MRNA	-1.585					-1.585
INTC			-1.572			-1.572
CRWV					-0.968	-0.968
TOTAL	-11.645	-9.713	-28.295	-1.777	-0.968	-52.397

Theta / |Gamma| Quality

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

Symbol	Expiry	Position	Θ / \|Γ\|
AMD	Apr 24, 26	AMD Apr 24th 230/235 Bear Call Spread	18.005
MSFT	May 1, 26	MSFT May 1st 400/410 Bear Call Spread	7.908
AAPL	Apr 17, 26	AAPL Apr 17th 235/240 Bull Put Spread	7.162
STZ	Apr 17, 26	STZ Apr 17th 165/170 Bear Call Spread	6.089
ORCL	May 1, 26	ORCL May 1st 125/130 Bull Put Spread	5.011
IWM	May 1, 26	IWM May 1st 225/230 Bull Put Spread	4.939
CRWV	May 15, 26	CRWV May 15th 95/100 Bear Call Spread	4.570
TSM	May 1, 26	TSM May 1st 375/380 Bear Call Spread	4.490
NVDA	Apr 17, 26	NVDA Apr 17th 155/160 Bull Put Spread	3.974
C	Apr 17, 26	C Apr 17th 95/100 Bull Put Spread	3.810
BABA	May 1, 26	BABA May 1st 140/145 Bear Call Spread	3.375
NFLX	May 1, 26	NFLX May 1st 103/108 Bear Call Spread	1.921
FCX	May 1, 26	FCX May 1st 44/49 Bull Put Spread	1.880
MRNA	Apr 17, 26	MRNA Apr 17th 40/45 Bull Put Spread	1.527
WFC	Apr 24, 26	WFC Apr 24th 84/89 Bear Call Spread	1.504
WMT	Apr 24, 26	WMT Apr 24th 129/135 Bear Call Spread	1.328
AMZN	May 1, 26	AMZN May 1st 185/190 Bull Put Spread	1.167
GOOGL	May 1, 26	GOOGL May 1st 270/275 Bull Put Spread	1.015
INTC	May 1, 26	INTC May 1st 35/40 Bull Put Spread	0.909
PLTR	May 8, 26	PLTR May 8th 120/125 Bull Put Spread	—
UNH	May 1, 26	UNH May 1st 315/320 Bear Call 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	1.866
STZ	Apr 17, 26	STZ Apr 17th 165/170 Bear Call Spread	1.413
C	Apr 17, 26	C Apr 17th 95/100 Bull Put Spread	1.189
CRWV	May 15, 26	CRWV May 15th 95/100 Bear Call Spread	1.126
AMD	Apr 24, 26	AMD Apr 24th 230/235 Bear Call Spread	1.059
FCX	May 1, 26	FCX May 1st 44/49 Bull Put Spread	1.014
INTC	May 1, 26	INTC May 1st 35/40 Bull Put Spread	0.965
NVDA	Apr 17, 26	NVDA Apr 17th 155/160 Bull Put Spread	0.955
WFC	Apr 24, 26	WFC Apr 24th 84/89 Bear Call Spread	0.886
TSM	May 1, 26	TSM May 1st 375/380 Bear Call Spread	0.805
UNH	May 1, 26	UNH May 1st 315/320 Bear Call Spread	0.777
NFLX	May 1, 26	NFLX May 1st 103/108 Bear Call Spread	0.728
BABA	May 1, 26	BABA May 1st 140/145 Bear Call Spread	0.681
ORCL	May 1, 26	ORCL May 1st 125/130 Bull Put Spread	0.663
PLTR	May 8, 26	PLTR May 8th 120/125 Bull Put Spread	0.625
GOOGL	May 1, 26	GOOGL May 1st 270/275 Bull Put Spread	0.611
MSFT	May 1, 26	MSFT May 1st 400/410 Bear Call Spread	0.610
WMT	Apr 24, 26	WMT Apr 24th 129/135 Bear Call Spread	0.553
AAPL	Apr 17, 26	AAPL Apr 17th 235/240 Bull Put Spread	0.550
AMZN	May 1, 26	AMZN May 1st 185/190 Bull Put Spread	0.510
IWM	May 1, 26	IWM May 1st 225/230 Bull Put Spread	0.392

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	87.0%	$60	$60	$440	-$5	3.629	-2.568	-0.5960	44.7%	6.09	1.41	-12.5%
MRNA	Bull Put	Apr 17, 26	74.0%	$65	$65	$435	-$65	2.958	-1.585	-1.9372	77.1%	1.53	1.87	-33.9%
NVDA	Bull Put	Apr 17, 26	75.8%	$73	$73	$427	-$48	2.369	-2.480	-0.5960	44.8%	3.97	0.96	-18.5%
C	Bull Put	Apr 17, 26	81.4%	$72	$72	$428	-$21	2.271	-1.910	-0.5960	55.6%	3.81	1.19	25.7%
AAPL	Bull Put	Apr 17, 26	70.6%	$61	$61	$439	-$86	1.707	-3.102	-0.2384	31.9%	7.16	0.55	-62.3%

WFC	Bear Call	Apr 24, 26	79.7%	$60	$60	$440	-$42	2.689	-3.034	-1.7881	37.8%	1.50	0.89	-40.8%
WMT	Bear Call	Apr 24, 26	76.8%	$66	$66	$534	-$73	2.572	-4.653	-1.9372	26.3%	1.33	0.55	-41.7%
AMD	Bear Call	Apr 24, 26	85.8%	$65	$65	$436	-$6	2.146	-2.026	-0.1192	50.3%	18.00	1.06	10.8%

MSFT	Bear Call	May 1, 26	81.9%	$130	$130	$870	-$51	3.771	-6.178	0.4768	35.2%	7.91	0.61	-25.0%
TSM	Bear Call	May 1, 26	85.0%	$75	$75	$425	$0	2.141	-2.659	-0.4768	44.1%	4.49	0.81	2.0%
FCX	Bull Put	May 1, 26	86.8%	$75	$75	$425	$9	2.017	-1.988	-1.0729	68.4%	1.88	1.01	-2.7%
NFLX	Bear Call	May 1, 26	78.2%	$64	$64	$436	-$45	1.947	-2.676	-1.0133	40.5%	1.92	0.73	-44.5%
BABA	Bear Call	May 1, 26	86.0%	$67	$67	$433	-$3	1.810	-2.657	-0.5364	39.4%	3.37	0.68	24.6%
UNH	Bear Call	May 1, 26	89.5%	$59	$59	$441	$7	1.545	-1.988	0.0000	47.4%	—	0.78	28.0%
INTC	Bull Put	May 1, 26	64.3%	$72	$72	$428	-$106	1.517	-1.572	-1.6689	72.0%	0.91	0.96	-102.1%
ORCL	Bull Put	May 1, 26	72.1%	$84	$84	$416	-$56	1.195	-1.803	0.2384	61.7%	5.01	0.66	-38.1%
IWM	Bull Put	May 1, 26	72.9%	$74	$74	$426	-$61	1.178	-3.005	-0.2384	36.1%	4.94	0.39	-39.2%
AMZN	Bull Put	May 1, 26	72.4%	$81	$81	$420	-$57	1.113	-2.183	-0.9537	49.8%	1.17	0.51	-30.4%
GOOGL	Bull Put	May 1, 26	57.9%	$86	$86	$414	-$124	0.968	-1.586	0.9537	40.9%	1.02	0.61	-147.1%

PLTR	Bull Put	May 8, 26	72.7%	$84	$84	$416	-$52	1.111	-1.777	0.0000	67.4%	—	0.63	-33.9%

CRWV	Bear Call	May 15, 26	78.3%	$60	$60	$440	-$48	1.089	-0.968	-0.2384	89.9%	4.57	1.13	-48.3%

TOTAL / AVG			77.6% avg	$1532	$1532	$9568	-$935	41.745	-52.397	-12.3382	50.5% avg	3.38	17.98	-629.9%

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.