AAPL · Wheel

Apple Inc. (AAPL) wheel

The cash-secured put → assigned shares → covered call cycle for this ticker.

$336.67
Modelled strike
$320.00
Modelled premium
$1.74
Cash required
$32,000.00
Breakeven
$318.26
Downside buffer
5.5%
Period return
0.5%
Annualized return
9.4%
Days to expiration
22
Strategy payoffModelled cash-secured put payoff. Spot $336.67. Expiry maximum profit $174.00 · Expiry maximum loss -$31,826.00 · Expiry breakevens $318.26. Total position fees $0.00 deducted once. Intrinsic at the common expiration; IV/time never alters expiry P/L. No early exercise, assignment, slippage, dividends or taxes modeled.

Update time unavailable

Loading graph — the exact table is available below.

$168.335Expiration P/L -$14,992.50Update time unavailable
Event / reference markers
  • Spot: $336.67
  • Expiry breakeven $318.26: $318.26
  • sell put strike $320.00: $320.00
Exact data table
Strategy payoff · full stored dataset, independent of graph range/toggles
ObservationExpiration P/L (USD)ContextUpdated
-$14,992.50Update time unavailable
-$14,655.83Update time unavailable
-$14,319.16Update time unavailable
-$13,982.49Update time unavailable
-$13,645.82Update time unavailable
-$13,309.15Update time unavailable
-$12,972.48Update time unavailable
-$12,635.81Update time unavailable
-$12,299.14Update time unavailable
-$11,962.47Update time unavailable
-$11,625.80Update time unavailable
-$11,289.13Update time unavailable
-$10,952.46Update time unavailable
-$10,615.79Update time unavailable
-$10,279.12Update time unavailable
-$9,942.45Update time unavailable
-$9,605.78Update time unavailable
-$9,269.11Update time unavailable
-$8,932.44Update time unavailable
-$8,595.77Update time unavailable
-$8,259.10Update time unavailable
-$7,922.43Update time unavailable
-$7,585.76Update time unavailable
-$7,249.09Update time unavailable
-$6,912.42Update time unavailable
-$6,575.75Update time unavailable
-$6,239.08Update time unavailable
-$5,902.41Update time unavailable
-$5,565.74Update time unavailable
-$5,229.07Update time unavailable
-$4,892.40Update time unavailable
-$4,555.73Update time unavailable
-$4,219.06Update time unavailable
-$3,882.39Update time unavailable
-$3,545.72Update time unavailable
-$3,209.05Update time unavailable
-$2,872.38Update time unavailable
-$2,535.71Update time unavailable
-$2,199.04Update time unavailable
-$1,862.37Update time unavailable
-$1,525.70Update time unavailable
-$1,189.03Update time unavailable
-$852.36Update time unavailable
-$515.69Update time unavailable
-$179.02Update time unavailable
-$0.00Update time unavailable
$157.65Update time unavailable
$174.00Update time unavailable
$174.00Update time unavailable
$174.00Update time unavailable
$174.00Update time unavailable
$174.00Update time unavailable
$174.00Update time unavailable
$174.00Spot referenceUpdate time unavailable
$174.00Update time unavailable
$174.00Update time unavailable
$174.00Update time unavailable
$174.00Update time unavailable
$174.00Update time unavailable
$174.00Update time unavailable
$174.00Update time unavailable
$174.00Update time unavailable
$174.00Update time unavailable
$174.00Update time unavailable
$174.00Update time unavailable
$174.00Update time unavailable
$174.00Update time unavailable
$174.00Update time unavailable
$174.00Update time unavailable
$174.00Update time unavailable
$174.00Update time unavailable
$174.00Update time unavailable
$174.00Update time unavailable
$174.00Update time unavailable
$174.00Update time unavailable
$174.00Update time unavailable
$174.00Update time unavailable
$174.00Update time unavailable
$174.00Update time unavailable
$174.00Update time unavailable
$174.00Update time unavailable
$174.00Update time unavailable
$174.00Update time unavailable
$174.00Update time unavailable
$174.00Update time unavailable
$174.00Update time unavailable
$174.00Update time unavailable
$174.00Update time unavailable
$174.00Update time unavailable
$174.00Update time unavailable
$174.00Update time unavailable
$174.00Update time unavailable
$174.00Update time unavailable
$174.00Update time unavailable
$174.00Update time unavailable
$174.00Update time unavailable
$174.00Update time unavailable
$174.00Update time unavailable
$174.00Update time unavailable
$174.00Update time unavailable
$174.00Update time unavailable
$174.00Update time unavailable
$174.00Update time unavailable
$174.00Update time unavailable

Black-Scholes from the published at-the-money implied volatility (one expected move out of the money). If assigned you buy 100 shares at the strike, an effective $318.26 per share after premium; the shares can keep falling.

Stage C would sell a $355.00 call for about $1.99, lowering the effective basis further.

Next steps

Data provenance

Figures are from published, reviewed research as of Oct 7, 2026, 4:00 PM EDT. Modelled option premiums use Black-Scholes with the published at-the-money implied volatility and are labelled as modelled, not as live quotes.