Portfolio — live-active-by-symbol-2026-04-09

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		5.323				5.323
NFLX		2.171				2.171
TSM		2.021				2.021
HOOD			1.865			1.865
ORCL		1.845				1.845
UNH		1.680				1.680
AAPL					1.570	1.570
COIN				1.522		1.522
MSTR			1.365			1.365
BA				1.160		1.160
UBER				1.125		1.125
PDD				1.048		1.048
ASTS				0.969		0.969
PLTR			0.829			0.829
XOM				0.807		0.807
CRWV				0.759		0.759
CRM				0.570		0.570
AMD	0.314					0.314
INTC					0.178	0.178
TOTAL	0.314	13.039	4.058	7.960	1.748	27.118

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				10.536		10.536
ORCL		8.551				8.551
CRM				7.436		7.436
PLTR			7.212			7.212
COIN				2.996		2.996
INTC					2.295	2.295
MSTR			-4.183			-4.183
ASTS				-4.518		-4.518
TSM		-4.721				-4.721
PDD				-5.024		-5.024
UNH		-6.483				-6.483
AAPL					-6.653	-6.653
MSFT		-6.732				-6.732
CRWV				-6.804		-6.804
UBER				-7.048		-7.048
BA				-7.229		-7.229
AMD	-8.063					-8.063
HOOD			-9.327			-9.327
NFLX		-16.288				-16.288
TOTAL	-8.063	-25.672	-6.298	-9.655	-4.358	-54.046

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
TSM		-1.907				-1.907
UBER				-0.983		-0.983
CRWV				-0.954		-0.954
NFLX		-0.954				-0.954
ORCL		-0.715				-0.715
PDD				-0.715		-0.715
HOOD			-0.477			-0.477
PLTR			-0.477			-0.477
UNH		-0.477				-0.477
XOM				-0.477		-0.477
INTC					-0.358	-0.358
AAPL					-0.238	-0.238
COIN				-0.238		-0.238
MSFT		-0.238				-0.238
MSTR			-0.238			-0.238
BA				0.000		0.000
ASTS				0.477		0.477
CRM				0.477		0.477
AMD	0.954					0.954
TOTAL	0.954	-4.292	-1.192	-2.414	-0.596	-7.540

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		-5.883				-5.883
AAPL					-4.407	-4.407
XOM				-2.246		-2.246
PDD				-2.183		-2.183
UBER				-1.958		-1.958
ORCL		-1.934				-1.934
NFLX		-1.900				-1.900
CRM				-1.769		-1.769
COIN				-1.591		-1.591
UNH		-1.581				-1.581
BA				-1.514		-1.514
HOOD			-1.454			-1.454
MSTR			-1.325			-1.325
TSM		-1.280				-1.280
PLTR			-1.136			-1.136
INTC					-0.716	-0.716
ASTS				-0.647		-0.647
CRWV				-0.598		-0.598
AMD	0.265					0.265
TOTAL	0.265	-12.579	-3.915	-12.507	-5.123	-33.860

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	22.325
AAPL	May 22, 26	AAPL May 22nd 275/280 Bear Call Spread	6.583
COIN	May 15, 26	COIN May 15th 130/135 Bull Put Spread	6.384
MSTR	May 8, 26	MSTR May 8th 150/155 Bear Call Spread	5.724
HOOD	May 8, 26	HOOD May 8th 80/85 Bear Call Spread	3.911
UNH	May 1, 26	UNH May 1st 315/320 Bear Call Spread	3.523
ORCL	May 1, 26	ORCL May 1st 125/130 Bull Put Spread	2.579
NFLX	May 1, 26	NFLX May 1st 103/108 Bear Call Spread	2.276
ASTS	May 15, 26	ASTS May 15th 115/120 Bear Call Spread	2.033
PLTR	May 8, 26	PLTR May 8th 120/125 Bull Put Spread	1.738
XOM	May 15, 26	XOM May 15th 150/155 Bull Put Spread	1.692
PDD	May 15, 26	PDD May 15th 115/120 Bear Call Spread	1.465
CRM	May 15, 26	CRM May 15th 160/165 Bull Put Spread	1.195
UBER	May 15, 26	UBER May 15th 82.5/87.5 Bear Call Spread	1.144
TSM	May 1, 26	TSM May 1st 375/380 Bear Call Spread	1.060
CRWV	May 15, 26	CRWV May 15th 95/100 Bear Call Spread	0.796
INTC	May 22, 26	INTC May 22nd 38/43 Bull Put Spread	0.498
AMD	Apr 24, 26	AMD Apr 24th 230/235 Bear Call Spread	0.329
BA	May 15, 26	BA May 15th 225/230 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\|
TSM	May 1, 26	TSM May 1st 375/380 Bear Call Spread	1.579
ASTS	May 15, 26	ASTS May 15th 115/120 Bear Call Spread	1.498
HOOD	May 8, 26	HOOD May 8th 80/85 Bear Call Spread	1.283
CRWV	May 15, 26	CRWV May 15th 95/100 Bear Call Spread	1.268
AMD	Apr 24, 26	AMD Apr 24th 230/235 Bear Call Spread	1.185
NFLX	May 1, 26	NFLX May 1st 103/108 Bear Call Spread	1.142
UNH	May 1, 26	UNH May 1st 315/320 Bear Call Spread	1.063
MSTR	May 8, 26	MSTR May 8th 150/155 Bear Call Spread	1.030
COIN	May 15, 26	COIN May 15th 130/135 Bull Put Spread	0.957
ORCL	May 1, 26	ORCL May 1st 125/130 Bull Put Spread	0.954
MSFT	May 1, 26	MSFT May 1st 400/410 Bear Call Spread	0.905
BA	May 15, 26	BA May 15th 225/230 Bear Call Spread	0.767
PLTR	May 8, 26	PLTR May 8th 120/125 Bull Put Spread	0.729
UBER	May 15, 26	UBER May 15th 82.5/87.5 Bear Call Spread	0.574
PDD	May 15, 26	PDD May 15th 115/120 Bear Call Spread	0.480
XOM	May 15, 26	XOM May 15th 150/155 Bull Put Spread	0.359
AAPL	May 22, 26	AAPL May 22nd 275/280 Bear Call Spread	0.356
CRM	May 15, 26	CRM May 15th 160/165 Bull Put Spread	0.322
INTC	May 22, 26	INTC May 22nd 38/43 Bull Put Spread	0.249

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	47.0%	$65	$65	$436	-$201	0.314	0.265	0.9537	52.0%	0.33	1.19	-303.1%

MSFT	Bear Call	May 1, 26	83.2%	$130	$130	$870	-$38	5.323	-5.883	-0.2384	37.7%	22.32	0.90	-13.5%
NFLX	Bear Call	May 1, 26	65.1%	$64	$64	$436	-$110	2.171	-1.900	-0.9537	42.8%	2.28	1.14	-130.5%
TSM	Bear Call	May 1, 26	63.3%	$75	$75	$425	-$109	2.021	-1.280	-1.9073	45.7%	1.06	1.58	-156.7%
ORCL	Bull Put	May 1, 26	68.6%	$84	$84	$416	-$73	1.845	-1.934	-0.7153	55.6%	2.58	0.95	-53.0%
UNH	Bear Call	May 1, 26	62.9%	$59	$59	$441	-$127	1.680	-1.581	-0.4768	37.8%	3.52	1.06	-196.6%

HOOD	Bear Call	May 8, 26	80.8%	$70	$70	$430	-$26	1.865	-1.454	-0.4768	69.0%	3.91	1.28	-20.7%
MSTR	Bear Call	May 8, 26	83.2%	$72	$72	$428	-$12	1.365	-1.325	-0.2384	66.4%	5.72	1.03	18.1%
PLTR	Bull Put	May 8, 26	59.9%	$84	$84	$416	-$116	0.829	-1.136	-0.4768	70.5%	1.74	0.73	-111.3%

COIN	Bull Put	May 15, 26	79.4%	$83	$83	$417	-$20	1.522	-1.591	-0.2384	85.5%	6.38	0.96	-11.4%
BA	Bear Call	May 15, 26	63.0%	$56	$56	$444	-$129	1.160	-1.514	0.0000	38.0%	—	0.77	-225.9%
UBER	Bear Call	May 15, 26	100.0%	$56	$56	$445	$56	1.125	-1.958	-0.9835	42.7%	1.14	0.57	36.9%
PDD	Bear Call	May 15, 26	100.0%	$55	$55	$446	$55	1.048	-2.183	-0.7153	35.4%	1.46	0.48	49.5%
ASTS	Bear Call	May 15, 26	73.1%	$66	$66	$434	-$69	0.969	-0.647	0.4768	105.6%	2.03	1.50	-55.3%
XOM	Bull Put	May 15, 26	59.9%	$68	$68	$432	-$133	0.807	-2.246	-0.4768	35.5%	1.69	0.36	-161.0%
CRWV	Bear Call	May 15, 26	66.1%	$60	$60	$440	-$110	0.759	-0.598	-0.9537	89.6%	0.80	1.27	-120.8%
CRM	Bull Put	May 15, 26	61.3%	$86	$86	$414	-$108	0.570	-1.769	0.4768	45.3%	1.20	0.32	-86.0%

AAPL	Bear Call	May 22, 26	77.4%	$60	$60	$440	-$53	1.570	-4.407	-0.2384	25.1%	6.58	0.36	-84.2%
INTC	Bull Put	May 22, 26	91.3%	$75	$75	$425	$32	0.178	-0.716	-0.3576	88.0%	0.50	0.25	84.7%

TOTAL / AVG			72.9% avg	$1367	$1367	$8634	-$1290	27.118	-33.860	-7.5400	56.2% avg	3.60	16.70	-1540.8%

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.