Portfolio — live-active-by-symbol-2026-06-24

Theta Concentration

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

Symbol	Jul 10, 26	Jul 17, 26	Jul 24, 26	Jul 31, 26	Total
NVDA	1.934		1.334		3.268
NBIS			2.362		2.362
IONQ				2.141	2.141
CSCO		2.076			2.076
CRWV		1.886			1.886
MRVL				1.674	1.674
GOOGL		1.651			1.651
IBM		1.617			1.617
FCX		1.533			1.533
MSFT			1.330		1.330
HOOD			1.254		1.254
AAPL				0.956	0.956
NOW		0.643			0.643
AMZN	-2.481				-2.481
TOTAL	-0.547	9.405	6.279	4.771	19.909

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	Jul 10, 26	Jul 17, 26	Jul 24, 26	Jul 31, 26	Total
FCX		18.619			18.619
NOW		14.814			14.814
CSCO		13.527			13.527
AMZN	10.715				10.715
IONQ				10.151	10.151
NVDA	11.425		-2.821		8.604
HOOD			8.135		8.135
IBM		6.657			6.657
GOOGL		5.183			5.183
AAPL				4.610	4.610
NBIS			1.802		1.802
MRVL				1.326	1.326
MSFT			-1.900		-1.900
CRWV		-4.301			-4.301
TOTAL	22.140	54.499	5.217	16.087	97.942

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	Jul 10, 26	Jul 17, 26	Jul 24, 26	Jul 31, 26	Total
FCX		-1.192			-1.192
NVDA	-0.954		-0.179		-1.132
AMZN	-0.954				-0.954
CSCO		-0.715			-0.715
IONQ				-0.596	-0.596
HOOD			-0.477		-0.477
MSFT			-0.358		-0.358
CRWV		-0.238			-0.238
NOW		-0.238			-0.238
GOOGL		0.000			0.000
IBM		0.000			0.000
MRVL				0.000	0.000
NBIS			0.000		0.000
AAPL				0.238	0.238
TOTAL	-1.907	-2.384	-1.013	-0.358	-5.662

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	Jul 10, 26	Jul 17, 26	Jul 24, 26	Jul 31, 26	Total
NVDA	-2.245		-2.151		-4.396
AAPL				-3.767	-3.767
GOOGL		-3.034			-3.034
CSCO		-2.793			-2.793
MSFT			-2.353		-2.353
IBM		-1.978			-1.978
FCX		-1.614			-1.614
IONQ				-1.569	-1.569
HOOD			-1.537		-1.537
MRVL				-1.383	-1.383
NBIS			-1.156		-1.156
CRWV		-1.027			-1.027
NOW		-0.639			-0.639
AMZN	2.288				2.288
TOTAL	0.042	-11.085	-7.196	-6.719	-24.958

Theta / |Gamma| Quality

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

Symbol	Expiry	Position	Θ / \|Γ\|
CRWV	Jul 17, 26	CRWV Jul 17th 125/130 Bear Call Spread	7.909
NVDA	Jul 24, 26	NVDA Jul 24th 230/235 Bear Call Spread	7.458
AAPL	Jul 31, 26	AAPL Jul 31st 270/275 Bull Put Spread	4.010
MSFT	Jul 24, 26	MSFT Jul 24th 415/420 Bear Call Spread	3.719
IONQ	Jul 31, 26	IONQ Jul 31st 40/45 Bull Put Spread	3.592
CSCO	Jul 17, 26	CSCO Jul 17th 110/115 Bull Put Spread	2.902
NOW	Jul 17, 26	NOW Jul 17th 90/95 Bull Put Spread	2.695
HOOD	Jul 24, 26	HOOD Jul 24th 84/89 Bull Put Spread	2.629
NVDA	Jul 10, 26	NVDA Jul 10th 190/195 Bull Put Spread	2.028
FCX	Jul 17, 26	FCX Jul 17th 55/60 Bull Put Spread	1.286
AMZN	Jul 10, 26	AMZN Jul 10th 240/245 Bull Put Spread	-2.602
GOOGL	Jul 17, 26	GOOGL Jul 17th 325/330 Bull Put Spread	—
IBM	Jul 17, 26	IBM Jul 17th 250/255 Bull Put Spread	—
MRVL	Jul 31, 26	MRVL Jul 31st 195/200 Bull Put Spread	—
NBIS	Jul 24, 26	NBIS Jul 24th 200/205 Bull Put 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\|
NBIS	Jul 24, 26	NBIS Jul 24th 200/205 Bull Put Spread	2.043
CRWV	Jul 17, 26	CRWV Jul 17th 125/130 Bear Call Spread	1.836
IONQ	Jul 31, 26	IONQ Jul 31st 40/45 Bull Put Spread	1.365
MRVL	Jul 31, 26	MRVL Jul 31st 195/200 Bull Put Spread	1.211
NOW	Jul 17, 26	NOW Jul 17th 90/95 Bull Put Spread	1.005
FCX	Jul 17, 26	FCX Jul 17th 55/60 Bull Put Spread	0.950
NVDA	Jul 10, 26	NVDA Jul 10th 190/195 Bull Put Spread	0.861
IBM	Jul 17, 26	IBM Jul 17th 250/255 Bull Put Spread	0.817
HOOD	Jul 24, 26	HOOD Jul 24th 84/89 Bull Put Spread	0.816
CSCO	Jul 17, 26	CSCO Jul 17th 110/115 Bull Put Spread	0.743
NVDA	Jul 24, 26	NVDA Jul 24th 230/235 Bear Call Spread	0.620
MSFT	Jul 24, 26	MSFT Jul 24th 415/420 Bear Call Spread	0.565
GOOGL	Jul 17, 26	GOOGL Jul 17th 325/330 Bull Put Spread	0.544
AAPL	Jul 31, 26	AAPL Jul 31st 270/275 Bull Put Spread	0.254
AMZN	Jul 10, 26	AMZN Jul 10th 240/245 Bull Put Spread	-1.085

Position Scorecard

Each column normalized independently. Grouped by expiration, sorted by Theta within each group.

Symbol	Type	Expiry	DTE	Chance	Credit	Max Profit	Max Loss	EV	Θ Theta	Vega	Γ Gamma	IV	Θ/\|Γ\|	Θ/\|V\|	Return	Loss/Risk
NVDA	Bull Put	Jul 10, 26	15	61.4%	$60	$60	$440	-$133	1.934	-2.245	-0.9537	37.4%	2.03	0.86	-162.5%	-22.2%
AMZN	Bull Put	Jul 10, 26	15	27.7%	$60	$60	$440	-$302	-2.481	2.288	-0.9537	33.8%	-2.60	-1.08	-479.2%	-65.3%

CSCO	Bull Put	Jul 17, 26	22	69.3%	$74	$74	$426	-$80	2.076	-2.793	-0.7153	39.7%	2.90	0.74	-75.7%	-13.1%
CRWV	Bear Call	Jul 17, 26	22	83.5%	$54	$54	$446	-$29	1.886	-1.027	-0.2384	87.3%	7.91	1.84	-3.7%	-0.4%
GOOGL	Bull Put	Jul 17, 26	22	70.9%	$70	$70	$430	-$76	1.651	-3.034	0.0000	34.6%	—	0.54	-67.9%	-11.0%
IBM	Bull Put	Jul 17, 26	22	62.3%	$67	$67	$433	-$121	1.617	-1.978	0.0000	42.7%	—	0.82	-168.7%	-26.1%
FCX	Bull Put	Jul 17, 26	22	61.9%	$80	$80	$420	-$111	1.533	-1.614	-1.1921	59.5%	1.29	0.95	-84.4%	-16.1%
NOW	Bull Put	Jul 17, 26	22	48.2%	$57	$57	$443	-$202	0.643	-0.639	-0.2384	56.9%	2.70	1.01	-321.1%	-41.3%

NBIS	Bull Put	Jul 24, 26	29	74.4%	$100	$100	$400	-$28	2.362	-1.156	0.0000	129.2%	—	2.04	-50.0%	-12.5%
NVDA	Bear Call	Jul 24, 26	29	91.7%	$70	$70	$430	$28	1.334	-2.151	-0.1788	38.1%	7.46	0.62	55.7%	—
MSFT	Bear Call	Jul 24, 26	29	89.4%	$62	$62	$438	$9	1.330	-2.353	-0.3576	36.6%	3.72	0.57	37.9%	—
HOOD	Bull Put	Jul 24, 26	29	68.5%	$74	$74	$426	-$83	1.254	-1.537	-0.4768	71.9%	2.63	0.82	-72.3%	-12.6%

IONQ	Bull Put	Jul 31, 26	36	73.9%	$99	$99	$401	-$32	2.141	-1.569	-0.5960	98.3%	3.59	1.36	-47.5%	-11.7%
MRVL	Bull Put	Jul 31, 26	36	84.1%	$72	$72	$428	-$8	1.674	-1.383	0.0000	105.0%	—	1.21	-11.1%	-1.9%
AAPL	Bull Put	Jul 31, 26	36	76.5%	$66	$66	$434	-$51	0.956	-3.767	0.2384	28.9%	4.01	0.25	-20.4%	-3.1%

TOTAL / AVG			—	69.6% avg	$1065	$1065	$6435	-$1217	19.909	-24.958	-5.6624	60.0% avg	3.52	12.55	-1470.7%	-15.0%

Column guide — EV & Greeks

DTE: Days to expiration as of when this report was generated. Highlighted in amber when ≤ 21 — the target window to close or roll positions to avoid gamma risk and assignment complications near expiry.
Loss/Risk: Current loss expressed as a percentage of maximum possible loss (i.e. the capital at risk). Only shown for losing positions — blank for positions currently at a gain. Formula: (current P&L / max loss) × 100. Highlighted in red when ≤ −25%, which is the stop-loss close-out threshold. Unlike Return (which is % of max profit), this metric uses the same denominator as the actual risk taken.
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. Highlighted in green when ≥ 50%, the take-profit close-out threshold. Colour is diverging: green for positive return, red for negative.
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.