FIG · Wheel

Figma, Inc. Class A Common Stock (FIG) wheel

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

$23.21
Modelled strike
$19.50
Modelled premium
$0.26
Cash required
$1,950.00
Breakeven
$19.24
Downside buffer
17.1%
Period return
1.3%
Annualized return
98.3%
Days to expiration
7
Strategy payoffModelled cash-secured put payoff. Spot $23.21. Expiry maximum profit $26.00 · Expiry maximum loss -$1,924.00 · Expiry breakevens $19.24. 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.

$11.605: Expiration P/L: -$763.50 Update time unavailable
Event / reference markers
  • Spot: $23.21
  • Expiry breakeven $19.24: $19.24
  • sell put strike $19.50: $19.50
Exact data table

Strategy payoff · full stored dataset, independent of graph range/toggles

ObservationExpiration P/L (USD)ContextUpdated
-$763.50Update time unavailable
-$740.29Update time unavailable
-$717.08Update time unavailable
-$693.87Update time unavailable
-$670.66Update time unavailable
-$647.45Update time unavailable
-$624.24Update time unavailable
-$601.03Update time unavailable
-$577.82Update time unavailable
-$554.61Update time unavailable
-$531.40Update time unavailable
-$508.19Update time unavailable
-$484.98Update time unavailable
-$461.77Update time unavailable
-$438.56Update time unavailable
-$415.35Update time unavailable
-$392.14Update time unavailable
-$368.93Update time unavailable
-$345.72Update time unavailable
-$322.51Update time unavailable
-$299.30Update time unavailable
-$276.09Update time unavailable
-$252.88Update time unavailable
-$229.67Update time unavailable
-$206.46Update time unavailable
-$183.25Update time unavailable
-$160.04Update time unavailable
-$136.83Update time unavailable
-$113.62Update time unavailable
-$90.41Update time unavailable
-$67.20Update time unavailable
-$43.99Update time unavailable
-$20.78Update time unavailable
$0.00Update time unavailable
$2.43Update time unavailable
$25.64Update time unavailable
$26.00Update time unavailable
$26.00Update time unavailable
$26.00Update time unavailable
$26.00Update time unavailable
$26.00Update time unavailable
$26.00Update time unavailable
$26.00Update time unavailable
$26.00Update time unavailable
$26.00Update time unavailable
$26.00Update time unavailable
$26.00Update time unavailable
$26.00Update time unavailable
$26.00Update time unavailable
$26.00Update time unavailable
$26.00Update time unavailable
$26.00Update time unavailable
$26.00Update time unavailable
$26.00Spot referenceUpdate time unavailable
$26.00Update time unavailable
$26.00Update time unavailable
$26.00Update time unavailable
$26.00Update time unavailable
$26.00Update time unavailable
$26.00Update time unavailable
$26.00Update time unavailable
$26.00Update time unavailable
$26.00Update time unavailable
$26.00Update time unavailable
$26.00Update time unavailable
$26.00Update time unavailable
$26.00Update time unavailable
$26.00Update time unavailable
$26.00Update time unavailable
$26.00Update time unavailable
$26.00Update time unavailable
$26.00Update time unavailable
$26.00Update time unavailable
$26.00Update time unavailable
$26.00Update time unavailable
$26.00Update time unavailable
$26.00Update time unavailable
$26.00Update time unavailable
$26.00Update time unavailable
$26.00Update time unavailable
$26.00Update time unavailable
$26.00Update time unavailable
$26.00Update time unavailable
$26.00Update time unavailable
$26.00Update time unavailable
$26.00Update time unavailable
$26.00Update time unavailable
$26.00Update time unavailable
$26.00Update time unavailable
$26.00Update time unavailable
$26.00Update time unavailable
$26.00Update time unavailable
$26.00Update time unavailable
$26.00Update time unavailable
$26.00Update time unavailable
$26.00Update time unavailable
$26.00Update time unavailable
$26.00Update time unavailable
$26.00Update time unavailable
$26.00Update time unavailable
$26.00Update time unavailable
$26.00Update time unavailable
$26.00Update time unavailable
$26.00Update 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 $19.24 per share after premium; the shares can keep falling.

Stage C would sell a $27.00 call for about $0.40, lowering the effective basis further.

Next steps

Data provenance

Figures are from published, reviewed research as of Oct 28, 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.