ENVX · Wheel

Enovix Corporation (ENVX) wheel

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

$2.70
Modelled strike
$2.00
Modelled premium
$0.04
Cash required
$200.00
Breakeven
$1.96
Downside buffer
27.5%
Period return
2.1%
Annualized return
29.9%
Days to expiration
29
Strategy payoffModelled cash-secured put payoff. Spot $2.70. Expiry maximum profit $4.00 · Expiry maximum loss -$196.00 · Expiry breakevens $1.96. 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.

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Loading graph — the exact table is available below.

$1.35Expiration P/L -$61.00Update time unavailable
Event / reference markers
  • Spot: $2.70
  • Expiry breakeven $1.96: $1.96
  • sell put strike $2.00: $2.00
Exact data table
Strategy payoff · full stored dataset, independent of graph range/toggles
ObservationExpiration P/L (USD)ContextUpdated
-$61.00Update time unavailable
-$58.30Update time unavailable
-$55.60Update time unavailable
-$52.90Update time unavailable
-$50.20Update time unavailable
-$47.50Update time unavailable
-$44.80Update time unavailable
-$42.10Update time unavailable
-$39.40Update time unavailable
-$36.70Update time unavailable
-$34.00Update time unavailable
-$31.30Update time unavailable
-$28.60Update time unavailable
-$25.90Update time unavailable
-$23.20Update time unavailable
-$20.50Update time unavailable
-$17.80Update time unavailable
-$15.10Update time unavailable
-$12.40Update time unavailable
-$9.70Update time unavailable
-$7.00Update time unavailable
-$4.30Update time unavailable
-$1.60Update time unavailable
-$0.00Update time unavailable
$1.10Update time unavailable
$3.80Update time unavailable
$4.00Update time unavailable
$4.00Update time unavailable
$4.00Update time unavailable
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$4.00Spot referenceUpdate time unavailable
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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 $1.96 per share after premium; the shares can keep falling.

Stage C would sell a $3.50 call for about $0.08, 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.

Enovix Corporation (ENVX) Wheel | Options Whale