Portfolio — live-active-by-symbol-2026-04-08

Theta Concentration

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

Symbol	Apr 24, 26	May 1, 26	May 8, 26	May 15, 26	May 22, 26	Total
MSFT		5.118				5.118
NOW				2.661		2.661
NFLX		2.208				2.208
ORCL		2.036				2.036
HOOD			1.837			1.837
AAPL					1.790	1.790
PLTR			1.744			1.744
PDD				1.560		1.560
UBER				1.526		1.526
MSTR			1.454			1.454
COIN				1.417		1.417
INTC					1.397	1.397
TSM		1.314				1.314
UNH		1.251				1.251
CRM				1.199		1.199
AMD	1.023					1.023
BA				1.023		1.023
ASTS				0.998		0.998
CSCO				0.858		0.858
CRWV				0.600		0.600
XOM				-0.073		-0.073
TOTAL	1.023	11.927	5.035	11.769	3.188	32.942

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 24, 26	May 1, 26	May 8, 26	May 15, 26	May 22, 26	Total
XOM				12.062		12.062
INTC					6.049	6.049
ORCL		5.563				5.563
CRM				4.930		4.930
CSCO				4.800		4.800
PLTR			4.413			4.413
COIN				2.087		2.087
TSM		-4.549				-4.549
ASTS				-4.690		-4.690
MSTR			-5.029			-5.029
UNH		-6.239				-6.239
NOW				-7.026		-7.026
AAPL					-7.275	-7.275
BA				-7.379		-7.379
CRWV				-7.391		-7.391
AMD	-8.080					-8.080
MSFT		-9.253				-9.253
PDD				-9.648		-9.648
UBER				-11.002		-11.002
HOOD			-12.288			-12.288
NFLX		-15.711				-15.711
TOTAL	-8.080	-30.190	-12.904	-23.256	-1.226	-75.657

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 24, 26	May 1, 26	May 8, 26	May 15, 26	May 22, 26	Total
UBER				-1.222		-1.222
PDD				-0.954		-0.954
NFLX		-0.834				-0.834
CSCO				-0.730		-0.730
INTC					-0.536	-0.536
AMD	-0.477					-0.477
ASTS				-0.477		-0.477
MSFT		-0.477				-0.477
XOM				-0.477		-0.477
NOW				-0.417		-0.417
AAPL					-0.238	-0.238
HOOD			-0.238			-0.238
MSTR			-0.238			-0.238
ORCL		-0.119				-0.119
CRM				0.000		0.000
CRWV				0.000		0.000
PLTR			0.000			0.000
TSM		0.000				0.000
COIN				0.238		0.238
BA				0.477		0.477
UNH		0.477				0.477
TOTAL	-0.477	-0.954	-0.477	-3.561	-0.775	-6.244

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 24, 26	May 1, 26	May 8, 26	May 15, 26	May 22, 26	Total
MSFT		-5.978				-5.978
AAPL					-4.522	-4.522
PDD				-3.253		-3.253
NOW				-2.846		-2.846
CRM				-2.677		-2.677
UBER				-2.669		-2.669
ORCL		-2.135				-2.135
NFLX		-2.009				-2.009
CSCO				-1.902		-1.902
PLTR			-1.883			-1.883
INTC					-1.541	-1.541
COIN				-1.486		-1.486
MSTR			-1.430			-1.430
UNH		-1.333				-1.333
BA				-1.306		-1.306
HOOD			-1.294			-1.294
TSM		-0.983				-0.983
XOM				-0.787		-0.787
ASTS				-0.619		-0.619
CRWV				-0.386		-0.386
AMD	-0.281					-0.281
TOTAL	-0.281	-12.438	-4.607	-17.931	-6.063	-41.320

Theta / |Gamma| Quality

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

Symbol	Expiry	Position	Θ / \|Γ\|
ORCL	May 1, 26	ORCL May 1st 125/130 Bull Put Spread	17.081
MSFT	May 1, 26	MSFT May 1st 400/410 Bear Call Spread	10.734
HOOD	May 8, 26	HOOD May 8th 80/85 Bear Call Spread	7.706
AAPL	May 22, 26	AAPL May 22nd 275/280 Bear Call Spread	7.510
NOW	May 15, 26	NOW May 15th 128/135 Bear Call Spread	6.378
MSTR	May 8, 26	MSTR May 8th 150/155 Bear Call Spread	6.098
COIN	May 15, 26	COIN May 15th 130/135 Bull Put Spread	5.945
NFLX	May 1, 26	NFLX May 1st 103/108 Bear Call Spread	2.646
UNH	May 1, 26	UNH May 1st 315/320 Bear Call Spread	2.623
INTC	May 22, 26	INTC May 22nd 38/43 Bull Put Spread	2.605
AMD	Apr 24, 26	AMD Apr 24th 230/235 Bear Call Spread	2.146
BA	May 15, 26	BA May 15th 225/230 Bear Call Spread	2.146
ASTS	May 15, 26	ASTS May 15th 115/120 Bear Call Spread	2.093
PDD	May 15, 26	PDD May 15th 115/120 Bear Call Spread	1.636
UBER	May 15, 26	UBER May 15th 82.5/87.5 Bear Call Spread	1.249
CSCO	May 15, 26	CSCO May 15th 65/70 Bull Put Spread	1.174
XOM	May 15, 26	XOM May 15th 150/155 Bull Put Spread	-0.154
CRM	May 15, 26	CRM May 15th 160/165 Bull Put Spread	—
CRWV	May 15, 26	CRWV May 15th 95/100 Bear Call Spread	—
PLTR	May 8, 26	PLTR May 8th 120/125 Bull Put 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\|
AMD	Apr 24, 26	AMD Apr 24th 230/235 Bear Call Spread	3.643
ASTS	May 15, 26	ASTS May 15th 115/120 Bear Call Spread	1.611
CRWV	May 15, 26	CRWV May 15th 95/100 Bear Call Spread	1.554
HOOD	May 8, 26	HOOD May 8th 80/85 Bear Call Spread	1.420
TSM	May 1, 26	TSM May 1st 375/380 Bear Call Spread	1.336
NFLX	May 1, 26	NFLX May 1st 103/108 Bear Call Spread	1.099
MSTR	May 8, 26	MSTR May 8th 150/155 Bear Call Spread	1.016
COIN	May 15, 26	COIN May 15th 130/135 Bull Put Spread	0.954
ORCL	May 1, 26	ORCL May 1st 125/130 Bull Put Spread	0.954
UNH	May 1, 26	UNH May 1st 315/320 Bear Call Spread	0.938
NOW	May 15, 26	NOW May 15th 128/135 Bear Call Spread	0.935
PLTR	May 8, 26	PLTR May 8th 120/125 Bull Put Spread	0.926
INTC	May 22, 26	INTC May 22nd 38/43 Bull Put Spread	0.907
MSFT	May 1, 26	MSFT May 1st 400/410 Bear Call Spread	0.856
BA	May 15, 26	BA May 15th 225/230 Bear Call Spread	0.783
UBER	May 15, 26	UBER May 15th 82.5/87.5 Bear Call Spread	0.572
PDD	May 15, 26	PDD May 15th 115/120 Bear Call Spread	0.480
CSCO	May 15, 26	CSCO May 15th 65/70 Bull Put Spread	0.451
CRM	May 15, 26	CRM May 15th 160/165 Bull Put Spread	0.448
AAPL	May 22, 26	AAPL May 22nd 275/280 Bear Call Spread	0.396
XOM	May 15, 26	XOM May 15th 150/155 Bull Put Spread	-0.093

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
AMD	Bear Call	Apr 24, 26	52.7%	$65	$65	$436	-$172	1.023	-0.281	-0.4768	50.7%	2.15	3.64	-252.7%

MSFT	Bear Call	May 1, 26	74.0%	$130	$130	$870	-$130	5.118	-5.978	-0.4768	34.6%	10.73	0.86	-80.8%
NFLX	Bear Call	May 1, 26	66.1%	$64	$64	$436	-$105	2.208	-2.009	-0.8345	42.9%	2.65	1.10	-121.9%
ORCL	Bull Put	May 1, 26	82.2%	$84	$84	$416	-$5	2.036	-2.135	-0.1192	55.6%	17.08	0.95	15.5%
TSM	Bear Call	May 1, 26	61.3%	$75	$75	$425	-$119	1.314	-0.983	0.0000	45.5%	—	1.34	-153.3%
UNH	Bear Call	May 1, 26	62.3%	$59	$59	$441	-$130	1.251	-1.333	0.4768	38.3%	2.62	0.94	-196.6%

HOOD	Bear Call	May 8, 26	69.3%	$70	$70	$430	-$84	1.837	-1.294	-0.2384	65.7%	7.71	1.42	-105.0%
PLTR	Bull Put	May 8, 26	80.1%	$84	$84	$416	-$15	1.744	-1.883	0.0000	68.2%	—	0.93	0.0%
MSTR	Bear Call	May 8, 26	78.4%	$72	$72	$428	-$36	1.454	-1.430	-0.2384	63.8%	6.10	1.02	-9.0%

NOW	Bear Call	May 15, 26	100.0%	$84	$84	$616	$84	2.661	-2.846	-0.4172	58.8%	6.38	0.94	7.7%
PDD	Bear Call	May 15, 26	81.4%	$55	$55	$446	-$39	1.560	-3.253	-0.9537	33.0%	1.64	0.48	-21.1%
UBER	Bear Call	May 15, 26	83.7%	$56	$56	$445	-$26	1.526	-2.669	-1.2219	39.4%	1.25	0.57	-12.6%
COIN	Bull Put	May 15, 26	85.5%	$83	$83	$417	$11	1.417	-1.486	0.2384	87.3%	5.94	0.95	24.7%
CRM	Bull Put	May 15, 26	78.5%	$86	$86	$414	-$21	1.199	-2.677	0.0000	44.4%	—	0.45	1.7%
BA	Bear Call	May 15, 26	60.9%	$56	$56	$444	-$140	1.023	-1.306	0.4768	37.1%	2.15	0.78	-243.8%
ASTS	Bear Call	May 15, 26	71.5%	$66	$66	$434	-$77	0.998	-0.619	-0.4768	106.2%	2.09	1.61	-74.2%
CSCO	Bull Put	May 15, 26	89.9%	$56	$56	$444	$6	0.858	-1.902	-0.7302	43.6%	1.17	0.45	53.6%
CRWV	Bear Call	May 15, 26	60.4%	$60	$60	$440	-$138	0.600	-0.386	0.0000	86.7%	—	1.55	-179.2%
XOM	Bull Put	May 15, 26	47.7%	$68	$68	$432	-$193	-0.073	-0.787	-0.4768	33.8%	-0.15	-0.09	-227.2%

AAPL	Bear Call	May 22, 26	76.4%	$60	$60	$440	-$58	1.790	-4.522	-0.2384	25.4%	7.51	0.40	-124.2%
INTC	Bull Put	May 22, 26	89.9%	$75	$75	$425	$25	1.397	-1.541	-0.5364	91.9%	2.60	0.91	6.7%

TOTAL / AVG			73.9% avg	$1507	$1507	$9694	-$1362	32.942	-41.320	-6.2436	54.9% avg	5.28	21.19	-1691.7%

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.