Portfolio — live-active-by-symbol-2026-05-07

Theta Concentration

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

Symbol	May 29, 26	Jun 5, 26	Jun 12, 26	Jun 18, 26	Total
CRM	2.568				2.568
AA	2.458				2.458
RDDT		2.306			2.306
TEAM		2.144			2.144
NEM		2.121			2.121
WFC	1.914				1.914
HOOD			1.801		1.801
ZS	1.701				1.701
GLW				1.609	1.609
BA		1.468			1.468
UPS				1.262	1.262
NOW		1.258			1.258
NFLX			1.183		1.183
JPM			1.179		1.179
DAL				0.779	0.779
BKNG				0.546	0.546
TOTAL	8.641	9.297	4.163	4.196	26.298

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	May 29, 26	Jun 5, 26	Jun 12, 26	Jun 18, 26	Total
NFLX			17.316		17.316
WFC	15.709				15.709
AA	10.305				10.305
DAL				8.661	8.661
UPS				8.401	8.401
HOOD			8.356		8.356
NEM		6.989			6.989
TEAM		6.063			6.063
RDDT		5.535			5.535
JPM			5.314		5.314
BA		4.179			4.179
CRM	3.666				3.666
BKNG				3.246	3.246
GLW				2.842	2.842
ZS	-4.256				-4.256
NOW		-5.331			-5.331
TOTAL	25.424	17.435	30.986	23.151	96.996

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	May 29, 26	Jun 5, 26	Jun 12, 26	Jun 18, 26	Total
WFC	-3.353				-3.353
NFLX			-1.848		-1.848
AA	-1.743				-1.743
DAL				-1.013	-1.013
UPS				-0.983	-0.983
NEM		-0.656			-0.656
HOOD			-0.536		-0.536
GLW				-0.477	-0.477
JPM			-0.477		-0.477
ZS	-0.477				-0.477
BA		-0.358			-0.358
NOW		-0.358			-0.358
TEAM		-0.358			-0.358
BKNG				-0.238	-0.238
CRM	-0.238				-0.238
RDDT		-0.238			-0.238
TOTAL	-5.811	-1.967	-2.861	-2.712	-13.351

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	May 29, 26	Jun 5, 26	Jun 12, 26	Jun 18, 26	Total
JPM			-4.413		-4.413
NFLX			-3.551		-3.551
UPS				-3.518	-3.518
WFC	-3.351				-3.351
BA		-3.056			-3.056
NEM		-2.871			-2.871
HOOD			-2.258		-2.258
RDDT		-2.257			-2.257
DAL				-2.195	-2.195
BKNG				-2.174	-2.174
AA	-2.119				-2.119
CRM	-2.066				-2.066
GLW				-2.013	-2.013
TEAM		-1.821			-1.821
NOW		-1.486			-1.486
ZS	-1.058				-1.058
TOTAL	-8.593	-11.491	-10.221	-9.901	-40.206

Theta / |Gamma| Quality

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

Symbol	Expiry	Position	Θ / \|Γ\|
CRM	May 29, 26	CRM May 29th 155/160 Bull Put Spread	10.772
RDDT	Jun 5, 26	RDDT Jun 5th 140/145 Bull Put Spread	9.672
TEAM	Jun 5, 26	TEAM Jun 5th 72/77 Bull Put Spread	5.995
BA	Jun 5, 26	BA Jun 5th 205/210 Bull Put Spread	4.105
ZS	May 29, 26	ZS May 29th 175/180 Bear Call Spread	3.566
NOW	Jun 5, 26	NOW Jun 5th 110/115 Bear Call Spread	3.518
GLW	Jun 18, 26	GLW Jun 18th 140/145 Bull Put Spread	3.374
HOOD	Jun 12, 26	HOOD Jun 12th 60/65 Bull Put Spread	3.358
NEM	Jun 5, 26	NEM Jun 5th 95/100 Bull Put Spread	3.235
JPM	Jun 12, 26	JPM Jun 12th 285/290 Bull Put Spread	2.473
BKNG	Jun 18, 26	BKNG Jun 18th 145/150 Bull Put Spread	2.292
AA	May 29, 26	AA May 29th 50/55 Bull Put Spread	1.410
UPS	Jun 18, 26	UPS Jun 18th 85/90 Bull Put Spread	1.283
DAL	Jun 18, 26	DAL Jun 18th 60/65 Bull Put Spread	0.769
NFLX	Jun 12, 26	NFLX Jun 12th 80/85 Bull Put Spread	0.640
WFC	May 29, 26	WFC May 29th 70/75 Bull Put Spread	0.571

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\|
ZS	May 29, 26	ZS May 29th 175/180 Bear Call Spread	1.607
CRM	May 29, 26	CRM May 29th 155/160 Bull Put Spread	1.243
TEAM	Jun 5, 26	TEAM Jun 5th 72/77 Bull Put Spread	1.177
AA	May 29, 26	AA May 29th 50/55 Bull Put Spread	1.160
RDDT	Jun 5, 26	RDDT Jun 5th 140/145 Bull Put Spread	1.022
NOW	Jun 5, 26	NOW Jun 5th 110/115 Bear Call Spread	0.847
GLW	Jun 18, 26	GLW Jun 18th 140/145 Bull Put Spread	0.799
HOOD	Jun 12, 26	HOOD Jun 12th 60/65 Bull Put Spread	0.798
NEM	Jun 5, 26	NEM Jun 5th 95/100 Bull Put Spread	0.739
WFC	May 29, 26	WFC May 29th 70/75 Bull Put Spread	0.571
BA	Jun 5, 26	BA Jun 5th 205/210 Bull Put Spread	0.480
UPS	Jun 18, 26	UPS Jun 18th 85/90 Bull Put Spread	0.359
DAL	Jun 18, 26	DAL Jun 18th 60/65 Bull Put Spread	0.355
NFLX	Jun 12, 26	NFLX Jun 12th 80/85 Bull Put Spread	0.333
JPM	Jun 12, 26	JPM Jun 12th 285/290 Bull Put Spread	0.267
BKNG	Jun 18, 26	BKNG Jun 18th 145/150 Bull Put Spread	0.251

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
CRM	Bull Put	May 29, 26	86.0%	$57	$57	$443	-$13	2.568	-2.066	-0.2384	60.4%	10.77	1.24	-7.0%
AA	Bull Put	May 29, 26	82.6%	$55	$55	$445	-$32	2.458	-2.119	-1.7434	54.7%	1.41	1.16	9.1%
WFC	Bull Put	May 29, 26	83.3%	$50	$50	$450	-$34	1.914	-3.351	-3.3528	31.5%	0.57	0.57	-13.0%
ZS	Bear Call	May 29, 26	75.8%	$56	$56	$444	-$65	1.701	-1.058	-0.4768	79.6%	3.57	1.61	-51.8%

RDDT	Bull Put	Jun 5, 26	76.2%	$77	$77	$423	-$42	2.306	-2.257	-0.2384	60.9%	9.67	1.02	-55.8%
TEAM	Bull Put	Jun 5, 26	82.3%	$91	$91	$409	$2	2.144	-1.821	-0.3576	75.1%	6.00	1.18	14.8%
NEM	Bull Put	Jun 5, 26	82.9%	$70	$70	$430	-$16	2.121	-2.871	-0.6557	44.7%	3.23	0.74	13.6%
BA	Bull Put	Jun 5, 26	82.6%	$74	$74	$426	-$13	1.468	-3.056	-0.3576	36.1%	4.10	0.48	23.0%
NOW	Bear Call	Jun 5, 26	85.7%	$52	$52	$448	-$19	1.258	-1.486	-0.3576	55.9%	3.52	0.85	18.3%

HOOD	Bull Put	Jun 12, 26	81.0%	$78	$78	$422	-$17	1.801	-2.258	-0.5364	61.5%	3.36	0.80	-5.1%
NFLX	Bull Put	Jun 12, 26	67.3%	$71	$71	$429	-$92	1.183	-3.551	-1.8477	31.2%	0.64	0.33	-58.5%
JPM	Bull Put	Jun 12, 26	75.7%	$75	$75	$425	-$46	1.179	-4.413	-0.4768	26.0%	2.47	0.27	-20.0%

GLW	Bull Put	Jun 18, 26	84.1%	$76	$76	$424	-$4	1.609	-2.013	-0.4768	72.4%	3.37	0.80	-13.2%
UPS	Bull Put	Jun 18, 26	89.9%	$50	$50	$450	-$1	1.262	-3.518	-0.9835	34.1%	1.28	0.36	-16.0%
DAL	Bull Put	Jun 18, 26	79.8%	$72	$72	$428	-$29	0.779	-2.195	-1.0133	48.9%	0.77	0.35	17.4%
BKNG	Bull Put	Jun 18, 26	82.7%	$69	$69	$431	-$18	0.546	-2.174	-0.2384	41.7%	2.29	0.25	45.6%

TOTAL / AVG			81.1% avg	$1073	$1073	$6927	-$438	26.298	-40.206	-13.3514	50.9% avg	1.97	12.01	-98.6%

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.