Beta · looking for testers
ThetaMaxx is a workbench for selling options. Pick a strike on a live chain, see premium, breakeven and assignment at a glance, and keep your positions in one Book. It’s in beta, and we’re looking for people who run the wheel for real.
Live chainsCboeNasdaqEuronextBrokersSaxoIBKR
CELH trades at $29.80. Drag the strike — the price at which buying is acceptable. Illustrative premiums, not quotes.
If it stays above $27.50
+$93 / month
premium kept — sell another
If it dips below
$26.57 per share
you buy 100 sh at $27.50, minus the premium
Cash reserved
$2,750
strike × 100 — the cash securing the put
This one is live. Drag the strike: closer to the price pays more, and you’re more likely to be put the shares.
A $90 call on a $100 stock with 60 days left is worth about $11.30. Ten dollars of that is intrinsic; $1.30 is time value. Press play and watch only the $1.30 melt.
A call on a stock. Drag the three dials and watch which half of the premium moves.
Premium
$11.30/share · $1130/contract
intrinsic $10.00 — exercise value today; changes with the stock
extrinsic $1.30 — time value, zero at expiration
Drag days to 0 — only the yellow half vanishes. Extrinsic here is illustrative; real quotes come from the market.
You hold 100 shares at $29.50 and the $35 call pays $0.45 a share. Drag the strike: closer to the price pays more now and caps you sooner.
You own 100 shares at $29.50. Drag the strike of the call you sell — it pays $0.45/share (illustrative premiums).
just holding the shares, for comparison
Flat at $29.50
+$45 profit
the premium, kept for free
At the $35.00 cap
+$595 profit
gains to the cap, plus premium
Rips to $45
+$595 still
gave up $955 vs holding
Micron at $430, short the $500 call for $30. Add the $600 call for $15 and compare what each does when the stock runs to $1,200. It did.
Shares at $430, short the $500 call for $30. Drag the expiry price — the dashed line adds a $600 call bought for $15. Per 100-share lot.
Plain covered call
+$10,000
capped above $500, forever
With the 600 top leg
+$8,500
upside back on above $600
The difference
−$1,500
the spread trails — the cost of the top leg
You’re long a $110 call that cost $5. Drag where the stock closes: above $110 it gets exercised, below it the $500 is gone. Selling puts means standing on the other side of this.
Apple is at $100. You hold a $110 call that cost $5/share. Drag the expiry-day price — or hover to preview one.
Stock at expiry
$120
Your decision
✓ Exercise
buy at $110, worth $120
Your P/L
+$500 profit
worst case: the $500 premium
Buy a LEAPS carrying $1.20 of extrinsic, sell $0.70 of calls a month, and you’re whole in two. Type your own numbers.
Compare initial time value with an assumed monthly credit. This estimates credit recovery, not total profit; both legs can lose value.
Assumes the same net credit repeats each month, without fees or closing losses.
Initial time-value recovery
2 months
Months remaining
27 months
The full app, free, while it’s in beta.
Every strike and expiry for US and Euronext names, with delta and theta on the row.
Puts, calls, spreads and shares. P/L by price and by date, before you place it.
Log positions, see daily marks and realised P/L. Private, on our server.
You tell us what’s wrong or missing. The next release is built from that.
We reach out when the next batch opens. No newsletter.