MARA · Stable: ATM call + put · At the money, wing 2 %
Stable: ATM call + put
Sell one call and one put at the same nearest available common strike K. Buy a call above K and a put below K, with the same expiry. The result includes all four options together.
Target protective strikes: K × (1 + 2%) and K × (1 − 2%). The closest available outward strikes are used; the grid can make the actual wings unequal.
In the option columns, Call and Put identify the contract type. The strike is shown first; the prices below are entry → exit, per share. The single P&L is for the complete four-option set after commissions.
Historical bid/ask model
Contracts and strikes are selected from the chain available that day. At 09:35 New York, short legs sell at bid and long legs buy at ask using the latest quote within the current regular session. A quote remains current until updated. Positions close at the opposite bid/ask 15 minutes before the stock session ends on expiry day, including shortened sessions.
The model reserves $0.65 per leg for entry and again for exit. This conservative fee estimate includes long options valued at zero with exercise waived; their price is marked with an asterisk.
Published data period: 2026-01-01 to 2026-10-16.
Displayed prices are historical quotes, not confirmed simultaneous fills. Commissions apply on entry and exit. Early assignment, stock delivery, intraday stops, and financing are not simulated. Risk at expiry is theoretical; quoted closing costs can exceed the spread width.
Data coverage: 35 entries; 35 closed; 0 still open; 0 missing an exit quote.
Skipped entry opportunities: 7 for market data or contract checks; 157 without an expiry in the selected window. Counts use the selected ticker, strategy and shape.
For 2 closed trades, exit quote size cannot support the budget-sized position. The scaled total is incomplete; these trades remain in the one-contract results.
Trade by trade
| Timing, ET | Result, $ one option set |
Underlying, $ | Sold options | Bought options | Credit / debit per share; fees in $ |
Risk / contracts risk per set; qty at $1000 |
|---|---|---|---|---|---|---|
| 02 Jan 2026 |
Trade P&L—
Cum.—
| No trade: the strike grid cannot express the wing | ||||
|
Ent.09 Jan 09:35
Out.09 Jan 15:45
Exp.09 Jan · 0 d
|
Trade P&L-22.20
Cum.-22.20
|
Ent.10.3062 Out.10.155 |
Sold optionsBought options
Call 10.50.08 → 0.02 Call 110.03 → 0 *
Put 10.50.27 → 0.4 Put 100.07 → 0 *
|
Cr.0.25
Dr.0.42
Fees, $5.20
|
Risk, $30.20 Contracts20 |
|
|
Ent.16 Jan 09:35
Out.16 Jan 15:45
Exp.16 Jan · 0 d
|
Trade P&L-14.20
Cum.-36.40
|
Ent.10.83 Out.11.305 |
Sold optionsBought options
Call 110.09 → 0.34 Call 11.50.03 → 0.01
Put 110.25 → 0.02 Put 10.50.05 → 0 *
|
Cr.0.26
Dr.0.35
Fees, $5.20
|
Risk, $29.20 Contracts20 |
|
|
Ent.23 Jan 09:35
Out.23 Jan 15:45
Exp.23 Jan · 0 d
|
Trade P&L-38.20
Cum.-74.60
|
Ent.10.165 Out.10.495 |
Sold optionsBought options
Call 100.26 → 0.57 Call 10.50.08 → 0.01
Put 100.09 → 0.01 Put 9.50.03 → 0 *
|
Cr.0.24
Dr.0.57
Fees, $5.20
|
Risk, $31.20 Contracts20 |
|
|
Ent.30 Jan 09:35
Out.30 Jan 15:45
Exp.30 Jan · 0 d
|
Trade P&L-36.20
Cum.-110.80
|
Ent.9.795 Out.9.43 |
Sold optionsBought options
Call 100.1 → 0.01 Call 10.50.04 → 0 *
Put 100.28 → 0.63 Put 9.50.08 → 0.07
|
Cr.0.26
Dr.0.57
Fees, $5.20
|
Risk, $29.20 Contracts16 |
|
| 06 Feb 2026 |
Trade P&L—
Cum.—
| No trade: the strike grid cannot express the wing | ||||
| 13 Feb 2026 |
Trade P&L—
Cum.—
| No trade: the strike grid cannot express the wing | ||||
| 20 Feb 2026 |
Trade P&L—
Cum.—
| No trade: the strike grid cannot express the wing | ||||
|
Ent.27 Feb 09:35
Out.27 Feb 15:45
Exp.27 Feb · 0 d
|
Trade P&L-19.20
Cum.-130.00
|
Ent.9.67 Out.9.125 |
Sold optionsBought options
Call 9.50.33 → 0.02 Call 100.14 → 0 *
Put 9.50.18 → 0.43 Put 90.08 → 0.02
|
Cr.0.29
Dr.0.43
Fees, $5.20
|
Risk, $26.20 Contracts1 |
|
|
Ent.06 Mar 09:35
Out.06 Mar 15:45
Exp.06 Mar · 0 d
|
Trade P&L-27.20
Cum.-157.20
|
Ent.8.3987 Out.8.01 |
Sold optionsBought options
Call 8.50.13 → 0.01 Call 90.04 → 0 *
Put 8.50.23 → 0.51 Put 80.07 → 0.05
|
Cr.0.25
Dr.0.47
Fees, $5.20
|
Risk, $30.20 Contracts20 |
|
|
Ent.13 Mar 09:35
Out.13 Mar 15:45
Exp.13 Mar · 0 d
|
Trade P&L-13.20
Cum.-170.40
|
Ent.9.225 Out.9.365 |
Sold optionsBought options
Call 90.32 → 0.38 Call 9.50.08 → 0.01
Put 90.1 → 0.01 Put 8.50.04 → 0 *
|
Cr.0.3
Dr.0.38
Fees, $5.20
|
Risk, $25.20 Contracts20 |
|
|
Ent.20 Mar 09:35
Out.20 Mar 15:45
Exp.20 Mar · 0 d
|
Trade P&L-36.20
Cum.-206.60
|
Ent.8.95 Out.8.465 |
Sold optionsBought options
Call 90.14 → 0.01 Call 9.50.05 → 0 *
Put 90.17 → 0.56 Put 8.50.05 → 0.05
|
Cr.0.21
Dr.0.52
Fees, $5.20
|
Risk, $34.20 Contracts20 |
|
| 27 Mar 2026 |
Trade P&L—
Cum.—
| No trade: the strike grid cannot express the wing | ||||
| 02 Apr 2026 |
Trade P&L—
Cum.—
| No trade: the strike grid cannot express the wing | ||||
|
Ent.10 Apr 09:35
Out.10 Apr 15:45
Exp.10 Apr · 0 d
|
Trade P&L+11.80
Cum.-194.80
|
Ent.9.656 Out.9.5 |
Sold optionsBought options
Call 9.50.24 → 0.04 Call 100.07 → 0 *
Put 9.50.1 → 0.04 Put 90.02 → 0 *
|
Cr.0.25
Dr.0.08
Fees, $5.20
|
Risk, $30.20 Contracts20* |
|
|
Ent.17 Apr 09:35
Out.17 Apr 15:45
Exp.17 Apr · 0 d
|
Trade P&L+7.80
Cum.-187.00
|
Ent.11.68 Out.11.6199 |
Sold optionsBought options
Call 11.50.3 → 0.14 Call 120.11 → 0 *
Put 11.50.13 → 0.02 Put 110.04 → 0.01
|
Cr.0.28
Dr.0.15
Fees, $5.20
|
Risk, $27.20 Contracts20 |
|
|
Ent.24 Apr 09:35
Out.24 Apr 15:45
Exp.24 Apr · 0 d
|
Trade P&L-24.20
Cum.-211.20
|
Ent.12.08 Out.11.61 |
Sold optionsBought options
Call 120.22 → 0.01 Call 12.50.08 → 0.01
Put 120.16 → 0.44 Put 11.50.05 → 0 *
|
Cr.0.25
Dr.0.44
Fees, $5.20
|
Risk, $30.20 Contracts20 |
|
|
Ent.01 May 09:35
Out.01 May 15:45
Exp.01 May · 0 d
|
Trade P&L-34.20
Cum.-245.40
|
Ent.12.295 Out.11.425 |
Sold optionsBought options
Call 12.50.12 → 0.01 Call 130.03 → 0 *
Put 12.50.31 → 1.1 Put 120.12 → 0.54
|
Cr.0.28
Dr.0.57
Fees, $5.20
|
Risk, $27.20 Contracts20 |
|
|
Ent.08 May 09:35
Out.08 May 15:45
Exp.08 May · 0 d
|
Trade P&L-10.20
Cum.-255.60
|
Ent.12.61 Out.12.755 |
Sold optionsBought options
Call 12.50.24 → 0.31 Call 130.08 → 0.01
Put 12.50.15 → 0.01 Put 120.05 → 0 *
|
Cr.0.26
Dr.0.31
Fees, $5.20
|
Risk, $29.20 Contracts5 |
|
|
Ent.15 May 09:35
Out.15 May 15:45
Exp.15 May · 0 d
|
Trade P&L+4.80
Cum.-250.80
|
Ent.12.525 Out.12.52 |
Sold optionsBought options
Call 12.50.23 → 0.1 Call 130.09 → 0 *
Put 12.50.21 → 0.07 Put 120.08 → 0 *
|
Cr.0.27
Dr.0.17
Fees, $5.20
|
Risk, $28.20 Contracts20* |
|
|
Ent.22 May 09:35
Out.22 May 15:45
Exp.22 May · 0 d
|
Trade P&L-13.20
Cum.-264.00
|
Ent.13.44 Out.13.81 |
Sold optionsBought options
Call 13.50.18 → 0.35 Call 140.05 → 0 *
Put 13.50.22 → 0.01 Put 130.07 → 0 *
|
Cr.0.28
Dr.0.36
Fees, $5.20
|
Risk, $27.20 Contracts20 |
|
|
Ent.29 May 09:35
Out.29 May 15:45
Exp.29 May · 0 d
|
Trade P&L-32.20
Cum.-296.20
|
Ent.13.99 Out.14.51 |
Sold optionsBought options
Call 140.18 → 0.6 Call 14.50.06 → 0.07
Put 140.2 → 0.01 Put 13.50.06 → 0.01
|
Cr.0.26
Dr.0.53
Fees, $5.20
|
Risk, $29.20 Contracts10 |
|
|
Ent.05 Jun 09:35
Out.05 Jun 15:45
Exp.05 Jun · 0 d
|
Trade P&L-40.20
Cum.-336.40
|
Ent.13.0798 Out.12.275 |
Sold optionsBought options
Call 130.27 → 0.01 Call 13.50.11 → 0 *
Put 130.17 → 0.8 Put 12.50.06 → 0.19
|
Cr.0.27
Dr.0.62
Fees, $5.20
|
Risk, $28.20 Contracts2 |
|
|
Ent.12 Jun 09:35
Out.12 Jun 15:45
Exp.12 Jun · 0 d
|
Trade P&L+7.80
Cum.-328.60
|
Ent.13.87 Out.14.11 |
Sold optionsBought options
Call 140.19 → 0.15 Call 14.50.07 → 0 *
Put 140.32 → 0.02 Put 13.50.14 → 0 *
|
Cr.0.3
Dr.0.17
Fees, $5.20
|
Risk, $25.20 Contracts20 |
|
|
Ent.18 Jun 09:35
Out.18 Jun 15:45
Exp.18 Jun · 0 d
|
Trade P&L+3.80
Cum.-324.80
|
Ent.13.925 Out.14.165 |
Sold optionsBought options
Call 140.18 → 0.17 Call 14.50.07 → 0 *
Put 140.25 → 0.01 Put 13.50.09 → 0 *
|
Cr.0.27
Dr.0.18
Fees, $5.20
|
Risk, $28.20 Contracts20 |
|
|
Ent.26 Jun 09:35
Out.26 Jun 15:45
Exp.26 Jun · 0 d
|
Trade P&L-42.20
Cum.-367.00
|
Ent.13.56 Out.14.25 |
Sold optionsBought options
Call 13.50.24 → 0.88 Call 140.1 → 0.24
Put 13.50.23 → 0.01 Put 130.09 → 0 *
|
Cr.0.28
Dr.0.65
Fees, $5.20
|
Risk, $27.20 Contracts11 |
|
|
Ent.02 Jul 09:35
Out.02 Jul 15:45
Exp.02 Jul · 0 d
|
Trade P&L-38.20
Cum.-405.20
|
Ent.13.895 Out.12.215 |
Sold optionsBought options
Call 140.2 → 0.01 Call 14.50.08 → 0 *
Put 140.28 → 1.83 Put 13.50.13 → 1.24
|
Cr.0.27
Dr.0.6
Fees, $5.20
|
Risk, $28.20 Contracts20 |
|
|
Ent.10 Jul 09:35
Out.10 Jul 15:45
Exp.10 Jul · 0 d
|
Trade P&L-39.20
Cum.-444.40
|
Ent.13.5686 Out.12.535 |
Sold optionsBought options
Call 13.50.25 → 0.01 Call 140.1 → 0 *
Put 13.50.18 → 1 Put 130.09 → 0.43
|
Cr.0.24
Dr.0.58
Fees, $5.20
|
Risk, $31.20 Contracts20 |
|
|
Ent.17 Jul 09:35
Out.17 Jul 15:45
Exp.17 Jul · 0 d
|
Trade P&L+1.80
Cum.-442.60
|
Ent.10.7 Out.10.64 |
Sold optionsBought options
Call 10.50.32 → 0.2 Call 110.12 → 0 *
Put 10.50.11 → 0.01 Put 100.03 → 0 *
|
Cr.0.28
Dr.0.21
Fees, $5.20
|
Risk, $27.20 Contracts20 |
|
|
Ent.24 Jul 09:35
Out.24 Jul 15:45
Exp.24 Jul · 0 d
|
Trade P&L-16.20
Cum.-458.80
|
Ent.12.635 Out.12.1793 |
Sold optionsBought options
Call 12.50.25 → 0.01 Call 130.09 → 0 *
Put 12.50.13 → 0.35 Put 120.04 → 0 *
|
Cr.0.25
Dr.0.36
Fees, $5.20
|
Risk, $30.20 Contracts20 |
|
|
Ent.31 Jul 09:35
Out.31 Jul 15:45
Exp.31 Jul · 0 d
|
Trade P&L-42.20
Cum.-501.00
|
Ent.12.005 Out.11.4 |
Sold optionsBought options
Call 120.26 → 0.01 Call 12.50.11 → 0 *
Put 120.22 → 0.75 Put 11.50.08 → 0.1
|
Cr.0.29
Dr.0.66
Fees, $5.20
|
Risk, $26.20 Contracts20 |
|
|
Ent.07 Aug 09:35
Out.07 Aug 15:45
Exp.07 Aug · 0 d
|
Trade P&L-28.20
Cum.-529.20
|
Ent.10.45 Out.9.9 |
Sold optionsBought options
Call 10.50.2 → 0.02 Call 110.08 → 0 *
Put 10.50.26 → 0.61 Put 100.09 → 0.11
|
Cr.0.29
Dr.0.52
Fees, $5.20
|
Risk, $26.20 Contracts12 |
|
|
Ent.14 Aug 09:35
Out.14 Aug 15:45
Exp.14 Aug · 0 d
|
Trade P&L-8.20
Cum.-537.40
|
Ent.9.215 Out.9.205 |
Sold optionsBought options
Call 90.24 → 0.22 Call 9.50.06 → 0.01
Put 90.05 → 0.02 Put 8.50.03 → 0 *
|
Cr.0.2
Dr.0.23
Fees, $5.20
|
Risk, $35.20 Contracts10 |
|
|
Ent.21 Aug 09:35
Out.21 Aug 15:45
Exp.21 Aug · 0 d
|
Trade P&L-35.20
Cum.-572.60
|
Ent.12.075 Out.11.11 |
Sold optionsBought options
Call 120.29 → 0.01 Call 12.50.13 → 0 *
Put 120.22 → 0.94 Put 11.50.07 → 0.34
|
Cr.0.31
Dr.0.61
Fees, $5.20
|
Risk, $24.20 Contracts9 |
|
|
Ent.28 Aug 09:35
Out.28 Aug 15:45
Exp.28 Aug · 0 d
|
Trade P&L-37.20
Cum.-609.80
|
Ent.11.42 Out.10.675 |
Sold optionsBought options
Call 11.50.17 → 0.01 Call 120.05 → 0 *
Put 11.50.2 → 0.87 Put 110.06 → 0.3
|
Cr.0.26
Dr.0.58
Fees, $5.20
|
Risk, $29.20 Contracts20 |
|
|
Ent.04 Sep 09:35
Out.04 Sep 15:45
Exp.04 Sep · 0 d
|
Trade P&L-7.20
Cum.-617.00
|
Ent.11.31 Out.11.235 |
Sold optionsBought options
Call 11.50.1 → 0.01 Call 120.03 → 0 *
Put 11.50.29 → 0.3 Put 110.07 → 0 *
|
Cr.0.29
Dr.0.31
Fees, $5.20
|
Risk, $26.20 Contracts20 |
|
|
Ent.11 Sep 09:35
Out.11 Sep 15:45
Exp.11 Sep · 0 d
|
Trade P&L-16.20
Cum.-633.20
|
Ent.11.685 Out.11.875 |
Sold optionsBought options
Call 11.50.3 → 0.38 Call 120.1 → 0 *
Put 11.50.11 → 0.01 Put 110.03 → 0 *
|
Cr.0.28
Dr.0.39
Fees, $5.20
|
Risk, $27.20 Contracts20 |
|
|
Ent.18 Sep 09:35
Out.18 Sep 15:45
Exp.18 Sep · 0 d
|
Trade P&L-32.20
Cum.-665.40
|
Ent.12.1901 Out.13.225 |
Sold optionsBought options
Call 120.32 → 1.25 Call 12.50.12 → 0.69
Put 120.13 → 0.01 Put 11.50.03 → 0 *
|
Cr.0.3
Dr.0.57
Fees, $5.20
|
Risk, $25.20 Contracts20 |
|
|
Ent.25 Sep 09:35
Out.25 Sep 15:45
Exp.25 Sep · 0 d
|
Trade P&L+10.80
Cum.-654.60
|
Ent.12.625 Out.12.53 |
Sold optionsBought options
Call 12.50.24 → 0.06 Call 130.08 → 0 *
Put 12.50.13 → 0.04 Put 120.03 → 0 *
|
Cr.0.26
Dr.0.1
Fees, $5.20
|
Risk, $29.20 Contracts20 |
|
|
Ent.02 Oct 09:35
Out.02 Oct 15:45
Exp.02 Oct · 0 d
|
Trade P&L-33.20
Cum.-687.80
|
Ent.11.85 Out.11.245 |
Sold optionsBought options
Call 120.14 → 0.01 Call 12.50.04 → 0 *
Put 120.27 → 0.8 Put 11.50.08 → 0.24
|
Cr.0.29
Dr.0.57
Fees, $5.20
|
Risk, $26.20 Contracts20 |
|
|
Ent.09 Oct 09:35
Out.09 Oct 15:45
Exp.09 Oct · 0 d
|
Trade P&L+2.80
Cum.-685.00
|
Ent.9.655 Out.9.625 |
Sold optionsBought options
Call 9.50.24 → 0.15 Call 100.05 → 0 *
Put 9.50.07 → 0.02 Put 90.01 → 0 *
|
Cr.0.25
Dr.0.17
Fees, $5.20
|
Risk, $30.20 Contracts20 |
|
| 16 Oct 2026 |
Trade P&L—
Cum.—
| No trade: the strike grid cannot express the wing | ||||
| Total P&L | -685.00 | Closed trades: 35, 8 profitable (22.9%) · Return on expiry risk: -68.8% | ||||
Closed-trade check: entry credit $937.00 − exit debit $1,440.00 − round-trip fees $182.00 = $-685.00
Sessions without an expiry in the selected window: 157.
How to read the table
Legs show strike and quoted entry → exit prices per share. Multiply net credit and debit by 100 for one contract. P&L subtracts commissions for both opening and closing every leg. The stress case reduces only the net entry credit; displayed leg quotes remain unchanged.
The cumulative column is measured through the exit date, including all trades closed that day. Rows sharing an exit date therefore share the same cumulative result. Open positions and missing exits have no known final P&L.