JPM · Wheel
JP Morgan Chase & Co. Common Stock (JPM) wheel
The cash-secured put → assigned shares → covered call cycle for this ticker.
- Modelled strike
- $315.00
- Modelled premium
- $1.41
- Cash required
- $31,500.00
- Breakeven
- $313.59
- Downside buffer
- 6.4%
- Period return
- 0.4%
- Annualized return
- 12.4%
- Days to expiration
- 14
Profit LossMax profit $141.00 · Max loss -$31,359.00
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 $313.59 per share after premium; the shares can keep falling.
Stage C would sell a $355.00 call for about $1.85, lowering the effective basis further.
Next steps
Data provenance
Figures are from published, reviewed research as of Sep 29, 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.