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Covered Combination

A covered combination option strategy involves owning the underlying asset, selling a call option, and selling a put option at the same time. This strategy is used when an investor has a neutral to slightly bullish outlook on the market.

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Options

Action Qty Expiration Date Strike Type Price Delta IV
GBTC GBTC Leg 1
Action
Qty
Expiration Date
Strike
Type
Price
Delta
IV
%
GBTC GBTC Leg 2
Action
Qty
Expiration Date
Strike
Type
Price
Delta
IV
%
±100%
to
       

Trade Information

Covered Combination

SELL -1 GBTC Dec 11, 2026 59.00 call @$0.88

SELL -1 GBTC Dec 11, 2026 53.00 put @$1.48

Stock

GBTC Current Price

$54.17 USD

GBTC Breakeven Price

Between $50.64 and $61.36

Trade Details

Cost of Trade

-$236.00 USD

Maximum Profit

$236.00

Maximum Loss

Unlimited

CVaR

Probability Analysis

Probability of Profit (PoP)

Probability of Max Profit

Probability of Max Loss

Risk Reward Analysis

Expected Value (EV)

Expected Return (EV/risk)

Reward/Risk

Position Greeks

Delta (Δ)

Gamma (Γ)

Theta (Θ)

Vega (ν)