BROS · Wheel

Dutch Bros Inc. Class A Common Stock (BROS) wheel

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

$39.06
Modelled strike
$32.00
Modelled premium
$0.35
Cash required
$3,200.00
Breakeven
$31.65
Downside buffer
19.0%
Period return
1.1%
Annualized return
14.8%
Days to expiration
29
Strategy payoffModelled cash-secured put payoff. Spot $39.06. Expiry maximum profit $35.00 · Expiry maximum loss -$3,165.00 · Expiry breakevens $31.65. 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.

$19.53Expiration P/L -$1,212.00Update time unavailable
Event / reference markers
  • Spot: $39.06
  • Expiry breakeven $31.65: $31.65
  • sell put strike $32.00: $32.00
Exact data table
Strategy payoff · full stored dataset, independent of graph range/toggles
ObservationExpiration P/L (USD)ContextUpdated
-$1,212.00Update time unavailable
-$1,172.94Update time unavailable
-$1,133.88Update time unavailable
-$1,094.82Update time unavailable
-$1,055.76Update time unavailable
-$1,016.70Update time unavailable
-$977.64Update time unavailable
-$938.58Update time unavailable
-$899.52Update time unavailable
-$860.46Update time unavailable
-$821.40Update time unavailable
-$782.34Update time unavailable
-$743.28Update time unavailable
-$704.22Update time unavailable
-$665.16Update time unavailable
-$626.10Update time unavailable
-$587.04Update time unavailable
-$547.98Update time unavailable
-$508.92Update time unavailable
-$469.86Update time unavailable
-$430.80Update time unavailable
-$391.74Update time unavailable
-$352.68Update time unavailable
-$313.62Update time unavailable
-$274.56Update time unavailable
-$235.50Update time unavailable
-$196.44Update time unavailable
-$157.38Update time unavailable
-$118.32Update time unavailable
-$79.26Update time unavailable
-$40.20Update time unavailable
-$1.14Update time unavailable
-$0.00Update time unavailable
$35.00Update time unavailable
$35.00Update time unavailable
$35.00Update time unavailable
$35.00Update time unavailable
$35.00Update time unavailable
$35.00Update time unavailable
$35.00Update time unavailable
$35.00Update time unavailable
$35.00Update time unavailable
$35.00Update time unavailable
$35.00Update time unavailable
$35.00Update time unavailable
$35.00Update time unavailable
$35.00Update time unavailable
$35.00Update time unavailable
$35.00Update time unavailable
$35.00Update time unavailable
$35.00Update time unavailable
$35.00Update time unavailable
$35.00Spot referenceUpdate time unavailable
$35.00Update time unavailable
$35.00Update time unavailable
$35.00Update time unavailable
$35.00Update time unavailable
$35.00Update time unavailable
$35.00Update time unavailable
$35.00Update time unavailable
$35.00Update time unavailable
$35.00Update time unavailable
$35.00Update time unavailable
$35.00Update time unavailable
$35.00Update time unavailable
$35.00Update time unavailable
$35.00Update time unavailable
$35.00Update time unavailable
$35.00Update time unavailable
$35.00Update time unavailable
$35.00Update time unavailable
$35.00Update time unavailable
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$35.00Update time unavailable
$35.00Update time unavailable
$35.00Update time unavailable
$35.00Update time unavailable
$35.00Update time unavailable
$35.00Update time unavailable
$35.00Update time unavailable
$35.00Update time unavailable
$35.00Update time unavailable
$35.00Update time unavailable
$35.00Update time unavailable
$35.00Update time unavailable
$35.00Update time unavailable
$35.00Update time unavailable
$35.00Update time unavailable
$35.00Update time unavailable
$35.00Update time unavailable
$35.00Update time unavailable
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$35.00Update time unavailable
$35.00Update time unavailable
$35.00Update time unavailable
$35.00Update time unavailable
$35.00Update time unavailable
$35.00Update 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 $31.65 per share after premium; the shares can keep falling.

Stage C would sell a $46.00 call for about $0.68, lowering the effective basis further.

Next steps

Data provenance

Figures are from published, reviewed research as of Oct 6, 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.

Dutch Bros Inc. Class A Common Stock (BROS) Wheel | Options Whale