Sell OTM put for premium; get assigned if price drops.
๐ฏ Target
67d from today
โ๏ธ Legs
SHORT PUT ยท $86 ยท Jun '26
Qty 1 ยท Premium $1.57 ยท ฮ -0.22
P&L at Expiry
Stock (100 sh)Cash-Secured PutNowTarget
๐ก Stock vs Options at Target
If ORLY hits $98 by Jun 19:
the cash-secured put returns
+$157
(1.9%)
on $-157 credit (max loss $8,443), vs
+$499
(5.4%)
for 100 shares on $9,301.
Options give 0.4ร capital efficiency.
๐ Expiry
Options expire Jun 19, 2026
(67 days out).
P&L shown is the value at expiry if ORLY is at $98.
Use the 30d / 60d / 90d / 180d pills to compare different expiries.
Forward Projection
Reprices legs at (target_price, target_date) via Black-Scholes. Works on existing BS service. Simplest mode โ ship first.
Historical Backtest
Uses our historical options chains to replay this exact strategy over past expirations. Needs: date picker, "rolling every N days", cumulative P&L chart.
Signal Backtest
"Run this strategy on every BUY-rated stock with score โฅ 80 for last 90d." Reuses score_backtest pipeline + strategy overlay.
Solve for Return
Inverse: user says "+50% in 90d", system solves for required price move, shows IV-implied probability. Pure math.
๐ P&L Scenarios โ what happens at different prices and dates
ORLY Price
Today
May 5
May 27
Jun 19 (exp)
$74
(-20%)
-$998
-$986
-$983
-$1,002
$79
(-15%)
-$634
-$594
-$552
-$537
$84
(-10%)
-$344
-$284
-$204
-$72
$88
(-5%)
-$135
-$71
+$14
+$157
$91
(-2%)
-$47
+$13
+$85
+$157
$93
(0%)โ spot
-$0
+$53
+$114
+$157
$95
(+2%)
+$37
+$84
+$133
+$157
$98
(+5%)โ target
+$83
+$118
+$148
+$157
$102
(+10%)
+$121
+$142
+$155
+$157
$107
(+15%)
+$141
+$152
+$157
+$157
$112
(+20%)
+$151
+$156
+$157
+$157
Uses ORLY's current IV for repricing. P&L includes all legs (stock + options). Qty: 1x.