Trade Desk · All tiers
Real trades. Real analysis.
Annotated examples showing exactly why each trade scored the way it scored, and what happened at expiration.
NVDA $900 Call
March 2025 · IV Rank elevated after earnings beat. Premium at 52-week highs.
Exp
Apr 18, 2025
DTE
28d
Premium
$14.20
Ann. Yield
36.3%
Delta
0.13
P&L
+$1,420
Why it scored A+
What drove the grade
NVDA's IV was near its 52-week high after a strong earnings reaction. Premium was elevated 40% above normal. The 13 delta meant 87% probability of expiring worthless. Theta efficiency scored 95. The premium was decaying fast relative to its size. No upcoming events. A+ by a wide margin.
What to watch for
Post-earnings IV crush is the best time to sell NVDA covered calls. Wait for the earnings pop, then sell into elevated IV within 1-2 days of the announcement.
AAPL $195 Call
February 2025 · Conservative wheel strategy setup. Accumulating position on weakness.
Exp
Mar 21, 2025
DTE
35d
Premium
$2.80
Ann. Yield
15.4%
Delta
0.22
P&L
+$280
Why it scored A
What drove the grade
AAPL in a conservative wheel setup. IV Rank at 58th percentile, above average but not exceptional. The 22 delta gave 78% POP. The 5.1% OTM buffer provided meaningful downside cushion. Solid A grade. Not the highest yield, but consistent and predictable.
What to watch for
AAPL is a core wheel strategy stock. The steady IV and high liquidity make it reliable. Don't chase yield on AAPL. The conservative A grade is the right profile here.
TSLA $240 Call
January 2025 · Illustrative. Shows why high premium does not equal a good trade.
Exp
Feb 21, 2025
DTE
28d
Premium
$8.50
Ann. Yield
52.3%
Delta
0.38
P&L
-$1,200 (net of premium)
Why it scored C
What drove the grade
The 52% annualized yield looked attractive. But the delta was 0.38, nearly a coin flip. The OTM buffer was only 2.1%. TSLA could gap past the strike on any headline. The Smart Score flagged this correctly as a C grade. The high yield was compensation for genuine assignment risk, not alpha.
What to watch for
TSLA C-grade trades are the most common retail mistake in covered calls. The premium looks amazing. The risk is real. Smart Score sees through it every time.
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