Portfolio — live-active-by-symbol-2026-04-02

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			4.408			4.408
MRNA	3.323					3.323
WFC		3.230				3.230
STZ	2.725					2.725
WMT		2.696				2.696
AAPL	2.407					2.407
AMD		2.256				2.256
TSM			2.160			2.160
UNH			1.943			1.943
ORCL			1.934			1.934
NFLX			1.903			1.903
MSTR				1.693		1.693
INTC			1.676			1.676
RKLB					1.636	1.636
NOW					1.563	1.563
HOOD				1.540		1.540
PLTR				1.473		1.473
AMZN			1.443			1.443
IWM			1.353			1.353
UBER					1.234	1.234
COIN					1.222	1.222
ASTS					1.124	1.124
PDD					1.076	1.076
BA					1.073	1.073
CRM					1.022	1.022
CRWV					0.989	0.989
GOOGL			0.952			0.952
CSCO					0.807	0.807
XOM					0.774	0.774
TOTAL	8.455	8.182	17.771	4.707	12.521	51.636

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
MRNA	16.844					16.844
XOM					8.792	8.792
CSCO					8.081	8.081
INTC			7.307			7.307
RKLB					5.908	5.908
ORCL			5.870			5.870
AAPL	5.229					5.229
AMZN			4.539			4.539
CRM					4.269	4.269
PLTR				4.214		4.214
IWM			4.126			4.126
GOOGL			3.941			3.941
COIN					2.601	2.601
UNH			-3.055			-3.055
TSM			-3.357			-3.357
MSTR				-4.242		-4.242
ASTS					-4.480	-4.480
NOW					-5.420	-5.420
BA					-5.560	-5.560
STZ	-6.029					-6.029
AMD		-6.485				-6.485
PDD					-6.547	-6.547
CRWV					-6.568	-6.568
MSFT			-7.908			-7.908
UBER					-8.997	-8.997
HOOD				-9.365		-9.365
NFLX			-14.949			-14.949
WMT		-21.107				-21.107
WFC		-22.165				-22.165
TOTAL	16.045	-49.757	-3.487	-9.393	-7.922	-54.514

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	-2.593					-2.593
WMT		-2.146				-2.146
WFC		-1.729				-1.729
AMD		-0.954				-0.954
INTC			-0.954			-0.954
CSCO					-0.894	-0.894
UBER					-0.864	-0.864
CRM					-0.715	-0.715
PDD					-0.656	-0.656
NFLX			-0.596			-0.596
STZ	-0.596					-0.596
AAPL	-0.536					-0.536
AMZN			-0.477			-0.477
ASTS					-0.477	-0.477
COIN					-0.477	-0.477
CRWV					-0.477	-0.477
GOOGL			-0.477			-0.477
RKLB					-0.477	-0.477
MSTR				-0.358		-0.358
HOOD				-0.238		-0.238
IWM			-0.238			-0.238
NOW					-0.238	-0.238
ORCL			-0.238			-0.238
PLTR				-0.238		-0.238
UNH			-0.238			-0.238
XOM					-0.238	-0.238
BA					0.000	0.000
MSFT			0.000			0.000
TSM			0.000			0.000
TOTAL	-3.725	-4.828	-3.219	-0.834	-5.513	-18.120

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			-6.610			-6.610
WMT		-4.680				-4.680
WFC		-3.189				-3.189
AAPL	-3.108					-3.108
IWM			-3.054			-3.054
CRM					-2.566	-2.566
PDD					-2.546	-2.546
TSM			-2.509			-2.509
GOOGL			-2.463			-2.463
CSCO					-2.463	-2.463
UBER					-2.385	-2.385
XOM					-2.333	-2.333
NFLX			-2.325			-2.325
UNH			-2.315			-2.315
AMZN			-2.305			-2.305
NOW					-2.286	-2.286
BA					-2.236	-2.236
ORCL			-2.231			-2.231
STZ	-2.119					-2.119
PLTR				-1.926		-1.926
AMD		-1.683				-1.683
MRNA	-1.595					-1.595
COIN					-1.586	-1.586
RKLB					-1.562	-1.562
MSTR				-1.557		-1.557
HOOD				-1.493		-1.493
INTC			-1.408			-1.408
CRWV					-0.773	-0.773
ASTS					-0.761	-0.761
TOTAL	-6.823	-9.552	-25.222	-4.976	-21.497	-68.069

Theta / |Gamma| Quality

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

Symbol	Expiry	Position	Θ / \|Γ\|
UNH	May 1, 26	UNH May 1st 315/320 Bear Call Spread	8.148
ORCL	May 1, 26	ORCL May 1st 125/130 Bull Put Spread	8.111
NOW	May 15, 26	NOW May 15th 128/135 Bear Call Spread	6.556
HOOD	May 8, 26	HOOD May 8th 80/85 Bear Call Spread	6.461
PLTR	May 8, 26	PLTR May 8th 120/125 Bull Put Spread	6.180
IWM	May 1, 26	IWM May 1st 225/230 Bull Put Spread	5.675
MSTR	May 8, 26	MSTR May 8th 150/155 Bear Call Spread	4.734
STZ	Apr 17, 26	STZ Apr 17th 165/170 Bear Call Spread	4.571
AAPL	Apr 17, 26	AAPL Apr 17th 235/240 Bull Put Spread	4.488
RKLB	May 15, 26	RKLB May 15th 45/50 Bull Put Spread	3.431
XOM	May 15, 26	XOM May 15th 150/155 Bull Put Spread	3.247
NFLX	May 1, 26	NFLX May 1st 103/108 Bear Call Spread	3.193
AMZN	May 1, 26	AMZN May 1st 185/190 Bull Put Spread	3.025
COIN	May 15, 26	COIN May 15th 130/135 Bull Put Spread	2.563
AMD	Apr 24, 26	AMD Apr 24th 230/235 Bear Call Spread	2.365
ASTS	May 15, 26	ASTS May 15th 115/120 Bear Call Spread	2.357
CRWV	May 15, 26	CRWV May 15th 95/100 Bear Call Spread	2.074
GOOGL	May 1, 26	GOOGL May 1st 270/275 Bull Put Spread	1.997
WFC	Apr 24, 26	WFC Apr 24th 84/89 Bear Call Spread	1.869
INTC	May 1, 26	INTC May 1st 35/40 Bull Put Spread	1.758
PDD	May 15, 26	PDD May 15th 115/120 Bear Call Spread	1.641
CRM	May 15, 26	CRM May 15th 160/165 Bull Put Spread	1.429
UBER	May 15, 26	UBER May 15th 82.5/87.5 Bear Call Spread	1.428
MRNA	Apr 17, 26	MRNA Apr 17th 40/45 Bull Put Spread	1.282
WMT	Apr 24, 26	WMT Apr 24th 129/135 Bear Call Spread	1.257
CSCO	May 15, 26	CSCO May 15th 65/70 Bull Put Spread	0.903
BA	May 15, 26	BA May 15th 225/230 Bear Call Spread	—
MSFT	May 1, 26	MSFT May 1st 400/410 Bear Call Spread	—
TSM	May 1, 26	TSM May 1st 375/380 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	2.083
ASTS	May 15, 26	ASTS May 15th 115/120 Bear Call Spread	1.478
AMD	Apr 24, 26	AMD Apr 24th 230/235 Bear Call Spread	1.340
STZ	Apr 17, 26	STZ Apr 17th 165/170 Bear Call Spread	1.286
CRWV	May 15, 26	CRWV May 15th 95/100 Bear Call Spread	1.280
INTC	May 1, 26	INTC May 1st 35/40 Bull Put Spread	1.190
MSTR	May 8, 26	MSTR May 8th 150/155 Bear Call Spread	1.088
RKLB	May 15, 26	RKLB May 15th 45/50 Bull Put Spread	1.047
HOOD	May 8, 26	HOOD May 8th 80/85 Bear Call Spread	1.032
WFC	Apr 24, 26	WFC Apr 24th 84/89 Bear Call Spread	1.013
ORCL	May 1, 26	ORCL May 1st 125/130 Bull Put Spread	0.867
TSM	May 1, 26	TSM May 1st 375/380 Bear Call Spread	0.861
UNH	May 1, 26	UNH May 1st 315/320 Bear Call Spread	0.839
NFLX	May 1, 26	NFLX May 1st 103/108 Bear Call Spread	0.819
AAPL	Apr 17, 26	AAPL Apr 17th 235/240 Bull Put Spread	0.774
COIN	May 15, 26	COIN May 15th 130/135 Bull Put Spread	0.771
PLTR	May 8, 26	PLTR May 8th 120/125 Bull Put Spread	0.765
NOW	May 15, 26	NOW May 15th 128/135 Bear Call Spread	0.684
MSFT	May 1, 26	MSFT May 1st 400/410 Bear Call Spread	0.667
AMZN	May 1, 26	AMZN May 1st 185/190 Bull Put Spread	0.626
WMT	Apr 24, 26	WMT Apr 24th 129/135 Bear Call Spread	0.576
UBER	May 15, 26	UBER May 15th 82.5/87.5 Bear Call Spread	0.517
BA	May 15, 26	BA May 15th 225/230 Bear Call Spread	0.480
IWM	May 1, 26	IWM May 1st 225/230 Bull Put Spread	0.443
PDD	May 15, 26	PDD May 15th 115/120 Bear Call Spread	0.423
CRM	May 15, 26	CRM May 15th 160/165 Bull Put Spread	0.398
GOOGL	May 1, 26	GOOGL May 1st 270/275 Bull Put Spread	0.387
XOM	May 15, 26	XOM May 15th 150/155 Bull Put Spread	0.332
CSCO	May 15, 26	CSCO May 15th 65/70 Bull Put Spread	0.328

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
MRNA	Bull Put	Apr 17, 26	74.8%	$65	$65	$435	-$61	3.323	-1.595	-2.5928	75.0%	1.28	2.08	-29.2%
STZ	Bear Call	Apr 17, 26	88.0%	$60	$60	$440	-$0	2.725	-2.119	-0.5960	42.4%	4.57	1.29	29.2%
AAPL	Bull Put	Apr 17, 26	84.6%	$61	$61	$439	-$16	2.407	-3.108	-0.5364	31.7%	4.49	0.77	23.8%

WFC	Bear Call	Apr 24, 26	70.7%	$60	$60	$440	-$86	3.230	-3.189	-1.7285	35.5%	1.87	1.01	-106.7%
WMT	Bear Call	Apr 24, 26	70.8%	$66	$66	$534	-$109	2.696	-4.680	-2.1458	24.9%	1.26	0.58	-75.8%
AMD	Bear Call	Apr 24, 26	69.2%	$65	$65	$436	-$90	2.256	-1.683	-0.9537	49.5%	2.37	1.34	-124.8%

MSFT	Bear Call	May 1, 26	78.5%	$130	$130	$870	-$85	4.408	-6.610	0.0000	33.7%	—	0.67	-53.9%
TSM	Bear Call	May 1, 26	79.9%	$75	$75	$425	-$25	2.160	-2.509	0.0000	43.7%	—	0.86	-33.3%
UNH	Bear Call	May 1, 26	86.1%	$59	$59	$441	-$10	1.943	-2.315	-0.2384	46.0%	8.15	0.84	-16.1%
ORCL	Bull Put	May 1, 26	79.2%	$84	$84	$416	-$20	1.934	-2.231	-0.2384	57.9%	8.11	0.87	-18.4%
NFLX	Bear Call	May 1, 26	68.4%	$64	$64	$436	-$94	1.903	-2.325	-0.5960	39.5%	3.19	0.82	-109.4%
INTC	Bull Put	May 1, 26	88.0%	$72	$72	$428	$12	1.676	-1.408	-0.9537	82.0%	1.76	1.19	34.7%
AMZN	Bull Put	May 1, 26	76.5%	$81	$81	$420	-$37	1.443	-2.305	-0.4768	50.2%	3.03	0.63	-13.0%
IWM	Bull Put	May 1, 26	82.2%	$74	$74	$426	-$15	1.353	-3.054	-0.2384	35.7%	5.67	0.44	16.9%
GOOGL	Bull Put	May 1, 26	74.0%	$86	$86	$414	-$44	0.952	-2.463	-0.4768	41.8%	2.00	0.39	-4.7%

MSTR	Bear Call	May 8, 26	84.2%	$72	$72	$428	-$7	1.693	-1.557	-0.3576	69.1%	4.73	1.09	4.2%
HOOD	Bear Call	May 8, 26	77.0%	$70	$70	$430	-$45	1.540	-1.493	-0.2384	66.0%	6.46	1.03	-33.6%
PLTR	Bull Put	May 8, 26	79.1%	$84	$84	$416	-$21	1.473	-1.926	-0.2384	67.6%	6.18	0.76	-6.5%

RKLB	Bull Put	May 15, 26	83.3%	$104	$104	$396	$20	1.636	-1.562	-0.4768	98.6%	3.43	1.05	11.5%
NOW	Bear Call	May 15, 26	87.8%	$84	$84	$616	-$1	1.563	-2.286	-0.2384	55.9%	6.56	0.68	31.6%
UBER	Bear Call	May 15, 26	85.5%	$56	$56	$445	-$17	1.234	-2.385	-0.8643	42.0%	1.43	0.52	1.8%
COIN	Bull Put	May 15, 26	80.2%	$83	$83	$417	-$16	1.222	-1.586	-0.4768	85.6%	2.56	0.77	-5.4%
ASTS	Bear Call	May 15, 26	75.4%	$66	$66	$434	-$57	1.124	-0.761	-0.4768	104.3%	2.36	1.48	-59.1%
PDD	Bear Call	May 15, 26	86.0%	$55	$55	$446	-$15	1.076	-2.546	-0.6557	36.4%	1.64	0.42	15.6%
BA	Bear Call	May 15, 26	72.3%	$56	$56	$444	-$83	1.073	-2.236	0.0000	38.5%	—	0.48	-109.8%
CRM	Bull Put	May 15, 26	79.6%	$86	$86	$414	-$16	1.022	-2.566	-0.7153	46.7%	1.43	0.40	2.9%
CRWV	Bear Call	May 15, 26	69.8%	$60	$60	$440	-$91	0.989	-0.773	-0.4768	88.1%	2.07	1.28	-116.7%
CSCO	Bull Put	May 15, 26	84.0%	$56	$56	$444	-$24	0.807	-2.463	-0.8941	42.3%	0.90	0.33	9.8%
XOM	Bull Put	May 15, 26	62.1%	$68	$68	$432	-$122	0.774	-2.333	-0.2384	38.0%	3.25	0.33	-150.0%

TOTAL / AVG			78.5% avg	$2100	$2100	$13200	-$1176	51.636	-68.069	-18.1198	54.1% avg	2.85	24.39	-884.5%

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.