Portfolio — live-active-by-symbol-2026-06-26

Theta Concentration

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

Symbol	Jul 17, 26	Jul 24, 26	Jul 31, 26	Total
NBIS		1.527	1.746	3.273
CRWV	1.573		1.092	2.665
IONQ			2.529	2.529
MRVL			2.258	2.258
IBM	2.007			2.007
FCX	1.971			1.971
AAPL			1.884	1.884
DRAM			1.827	1.827
HOOD		1.616		1.616
GOOGL	1.532			1.532
PLTR			1.354	1.354
CSCO	1.097			1.097
IWM			1.044	1.044
TOTAL	8.180	3.143	13.735	25.058

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 17, 26	Jul 24, 26	Jul 31, 26	Total
CSCO	18.839			18.839
FCX	18.668			18.668
IONQ			11.889	11.889
HOOD		9.050		9.050
GOOGL	6.585			6.585
IBM	6.025			6.025
DRAM			5.806	5.806
IWM			4.606	4.606
NBIS		2.098	1.454	3.552
MRVL			1.712	1.712
AAPL			-4.703	-4.703
CRWV	-2.680		-2.818	-5.498
PLTR			-7.331	-7.331
TOTAL	47.437	11.148	10.616	69.201

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 17, 26	Jul 24, 26	Jul 31, 26	Total
NBIS		-1.907	-0.954	-2.861
FCX	-1.788			-1.788
IONQ			-0.596	-0.596
PLTR			-0.596	-0.596
CSCO	-0.477			-0.477
HOOD		-0.477		-0.477
IWM			-0.477	-0.477
CRWV	-0.179		0.000	-0.179
AAPL			-0.119	-0.119
DRAM			-0.119	-0.119
GOOGL	0.000			0.000
IBM	0.000			0.000
MRVL			0.000	0.000
TOTAL	-2.444	-2.384	-2.861	-7.689

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 17, 26	Jul 24, 26	Jul 31, 26	Total
AAPL			-4.132	-4.132
IWM			-3.956	-3.956
GOOGL	-2.806			-2.806
IBM	-2.583			-2.583
NBIS		-1.034	-1.204	-2.239
FCX	-1.835			-1.835
PLTR			-1.767	-1.767
CSCO	-1.747			-1.747
CRWV	-0.825		-0.897	-1.722
MRVL			-1.638	-1.638
IONQ			-1.543	-1.543
HOOD		-1.537		-1.537
DRAM			-1.429	-1.429
TOTAL	-9.796	-2.571	-16.565	-28.933

Theta / |Gamma| Quality

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

Symbol	Expiry	Position	Θ / \|Γ\|
AAPL	Jul 31, 26	AAPL Jul 31st 305/310 Bear Call Spread	15.806
DRAM	Jul 31, 26	DRAM Jul 31st 52/57 Bull Put Spread	15.329
CRWV	Jul 17, 26	CRWV Jul 17th 125/130 Bear Call Spread	8.795
IONQ	Jul 31, 26	IONQ Jul 31st 40/45 Bull Put Spread	4.243
HOOD	Jul 24, 26	HOOD Jul 24th 84/89 Bull Put Spread	3.389
CSCO	Jul 17, 26	CSCO Jul 17th 110/115 Bull Put Spread	2.301
PLTR	Jul 31, 26	PLTR Jul 31st 125/130 Bear Call Spread	2.272
IWM	Jul 31, 26	IWM Jul 31st 275/280 Bull Put Spread	2.189
NBIS	Jul 31, 26	NBIS Jul 31st 170/175 Bull Put Spread	1.831
FCX	Jul 17, 26	FCX Jul 17th 55/60 Bull Put Spread	1.102
NBIS	Jul 24, 26	NBIS Jul 24th 200/205 Bull Put Spread	0.800
CRWV	Jul 31, 26	CRWV Jul 31st 130/135 Bear Call Spread	—
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	—

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\|
CRWV	Jul 17, 26	CRWV Jul 17th 125/130 Bear Call Spread	1.906
IONQ	Jul 31, 26	IONQ Jul 31st 40/45 Bull Put Spread	1.639
NBIS	Jul 24, 26	NBIS Jul 24th 200/205 Bull Put Spread	1.476
NBIS	Jul 31, 26	NBIS Jul 31st 170/175 Bull Put Spread	1.450
MRVL	Jul 31, 26	MRVL Jul 31st 195/200 Bull Put Spread	1.378
DRAM	Jul 31, 26	DRAM Jul 31st 52/57 Bull Put Spread	1.279
CRWV	Jul 31, 26	CRWV Jul 31st 130/135 Bear Call Spread	1.218
FCX	Jul 17, 26	FCX Jul 17th 55/60 Bull Put Spread	1.074
HOOD	Jul 24, 26	HOOD Jul 24th 84/89 Bull Put Spread	1.052
IBM	Jul 17, 26	IBM Jul 17th 250/255 Bull Put Spread	0.777
PLTR	Jul 31, 26	PLTR Jul 31st 125/130 Bear Call Spread	0.766
CSCO	Jul 17, 26	CSCO Jul 17th 110/115 Bull Put Spread	0.628
GOOGL	Jul 17, 26	GOOGL Jul 17th 325/330 Bull Put Spread	0.546
AAPL	Jul 31, 26	AAPL Jul 31st 305/310 Bear Call Spread	0.456
IWM	Jul 31, 26	IWM Jul 31st 275/280 Bull Put Spread	0.264

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
IBM	Bull Put	Jul 17, 26	20	70.3%	$67	$67	$433	-$82	2.007	-2.583	0.0000	41.5%	—	0.78	-90.3%	-14.0%
FCX	Bull Put	Jul 17, 26	20	65.0%	$80	$80	$420	-$95	1.971	-1.835	-1.7881	57.7%	1.10	1.07	-64.4%	-12.3%
CRWV	Bear Call	Jul 17, 26	20	100.0%	$54	$54	$446	$54	1.573	-0.825	-0.1788	85.0%	8.80	1.91	53.7%	—
GOOGL	Bull Put	Jul 17, 26	20	64.9%	$70	$70	$430	-$106	1.532	-2.806	0.0000	32.3%	—	0.55	-110.7%	-18.0%
CSCO	Bull Put	Jul 17, 26	20	54.2%	$74	$74	$426	-$155	1.097	-1.747	-0.4768	36.3%	2.30	0.63	-158.8%	-27.6%

HOOD	Bull Put	Jul 24, 26	27	67.4%	$74	$74	$426	-$89	1.616	-1.537	-0.4768	72.0%	3.39	1.05	-103.4%	-18.0%
NBIS	Bull Put	Jul 24, 26	27	70.4%	$100	$100	$400	-$48	1.527	-1.034	-1.9073	119.6%	0.80	1.48	-37.5%	-9.4%

IONQ	Bull Put	Jul 31, 26	34	69.7%	$99	$99	$401	-$53	2.529	-1.543	-0.5960	98.8%	4.24	1.64	-86.4%	-21.3%
MRVL	Bull Put	Jul 31, 26	34	82.6%	$72	$72	$428	-$15	2.258	-1.638	0.0000	98.5%	—	1.38	-38.9%	-6.5%
AAPL	Bear Call	Jul 31, 26	34	85.7%	$66	$66	$434	-$6	1.884	-4.132	-0.1192	28.2%	15.81	0.46	-11.4%	-1.7%
DRAM	Bull Put	Jul 31, 26	34	78.5%	$76	$76	$424	-$31	1.827	-1.429	-0.1192	103.1%	15.33	1.28	-25.0%	-4.5%
NBIS	Bull Put	Jul 31, 26	34	80.7%	$78	$78	$422	-$19	1.746	-1.204	-0.9537	124.6%	1.83	1.45	-21.8%	-4.0%
PLTR	Bear Call	Jul 31, 26	34	77.2%	$64	$64	$436	-$50	1.354	-1.767	-0.5960	52.6%	2.27	0.77	-46.1%	-6.8%
CRWV	Bear Call	Jul 31, 26	34	89.1%	$57	$57	$443	$2	1.092	-0.897	0.0000	88.3%	—	1.22	31.6%	—
IWM	Bull Put	Jul 31, 26	34	78.6%	$73	$73	$427	-$34	1.044	-3.956	-0.4768	27.7%	2.19	0.26	-0.7%	-0.1%

TOTAL / AVG			—	75.6% avg	$1104	$1104	$6396	-$725	25.058	-28.933	-7.6890	71.1% avg	3.26	15.91	-709.9%	-8.8%

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.