Trim vs no-trim — every sleeve/CC combo paired
Pairs each non-withdrawal strategy against its `_trim` twin (otherwise identical configuration, only `sleeve.rebalance_mode=trim_only` differs). The trim-only rebalance lets the X3 sleeve drift below target without being refilled from stock — locks in X3 gains during bull regimes and prevents adding to a falling X3 in drawdowns. Hypothesis: trim-only outperforms in choppy/down regimes (no rebalancing into a falling X3) but lags in steady bull regimes (smaller X3 sleeve = less leverage). Deadband variants (`70_30_band_30_*`, `85_15_band_15_05`) test asymmetric trim+refill thresholds.
Reading the absolute numbers: SPEC §9 caveats apply. Costs are modeled (CC premium haircut, X3 trade cost) but real-world frictions like MA10 whipsaw timing, vol-spike spread blowouts, and FX spread are not. Treat differences between runs as much more reliable than absolute returns.
Strategy settings
SPEC §5 fields per strategy. Monthly anchor and X3 timing are controlled by the global toggle in the filter bar — every strategy runs under all 6 timing variants.
| Setting | stockonly | stock_only_collar_05 | 85_15 | 85_15_trim | 85_15_band_15_05 | 85_15_cc05 | 85_15_cc05_trim | 85_15_cc10 | 85_15_cc10_trim | 70_30 | 70_30_trim | 70_30_band_30_20 | 70_30_band_30_15 | 70_30_band_30_10 | 70_30_band_30_05 | 70_30_cc05 | 70_30_cc05_trim | 70_30_cc10 | 70_30_cc10_trim | 0_100 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Start date | 2019-01-01 | 2019-01-01 | 2019-01-01 | 2019-01-01 | 2019-01-01 | 2019-01-01 | 2019-01-01 | 2019-01-01 | 2019-01-01 | 2019-01-01 | 2019-01-01 | 2019-01-01 | 2019-01-01 | 2019-01-01 | 2019-01-01 | 2019-01-01 | 2019-01-01 | 2019-01-01 | 2019-01-01 | 2019-01-01 |
| End date | 2026-04-30 | 2026-04-30 | 2026-04-30 | 2026-04-30 | 2026-04-30 | 2026-04-30 | 2026-04-30 | 2026-04-30 | 2026-04-30 | 2026-04-30 | 2026-04-30 | 2026-04-30 | 2026-04-30 | 2026-04-30 | 2026-04-30 | 2026-04-30 | 2026-04-30 | 2026-04-30 | 2026-04-30 | 2026-04-30 |
| Initial capital (USD) | 500000.0 | 500000.0 | 500000.0 | 500000.0 | 500000.0 | 500000.0 | 500000.0 | 500000.0 | 500000.0 | 500000.0 | 500000.0 | 500000.0 | 500000.0 | 500000.0 | 500000.0 | 500000.0 | 500000.0 | 500000.0 | 500000.0 | 500000.0 |
| Monthly anchor (toggle) | last | last | last | last | last | last | last | last | last | last | last | last | last | last | last | last | last | last | last | last |
| X3 timing (toggle) | close_close | close_close | close_close | close_close | close_close | close_close | close_close | close_close | close_close | close_close | close_close | close_close | close_close | close_close | close_close | close_close | close_close | close_close | close_close | close_close |
| CC enabled | false | true | false | false | false | true | true | true | true | false | false | false | false | false | false | true | true | true | true | false |
| CC OTM % | 10.0 | 5.0 | 13.0 | 13.0 | 13.0 | 5.0 | 5.0 | 10.0 | 10.0 | 13.0 | 13.0 | 13.0 | 13.0 | 13.0 | 13.0 | 5.0 | 5.0 | 10.0 | 10.0 | 13.0 |
| Withdrawal/cycle USD | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
| Stock sleeve % | 100.0 | 100.0 | 85.0 | 85.0 | 85.0 | 85.0 | 85.0 | 85.0 | 85.0 | 70.0 | 70.0 | 70.0 | 70.0 | 70.0 | 70.0 | 70.0 | 70.0 | 70.0 | 70.0 | 0.0 |
| X3 sleeve % | 0.0 | 0.0 | 15.0 | 15.0 | 15.0 | 15.0 | 15.0 | 15.0 | 15.0 | 30.0 | 30.0 | 30.0 | 30.0 | 30.0 | 30.0 | 30.0 | 30.0 | 30.0 | 30.0 | 100.0 |
| X3 drag % | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
| X3 mgmt fee % | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
| X3 funding mult | 2.25 | 2.25 | 2.25 | 2.25 | 2.25 | 2.25 | 2.25 | 2.25 | 2.25 | 2.25 | 2.25 | 2.25 | 2.25 | 2.25 | 2.25 | 2.25 | 2.25 | 2.25 | 2.25 | 2.25 |
| X3 MA window | 10 | 10 | 10 | 10 | 10 | 10 | 10 | 10 | 10 | 10 | 10 | 10 | 10 | 10 | 10 | 10 | 10 | 10 | 10 | 10 |
| HV window | 30 | 30 | 30 | 30 | 30 | 30 | 30 | 30 | 30 | 30 | 30 | 30 | 30 | 30 | 30 | 30 | 30 | 30 | 30 | 30 |
| IV multiplier | 1.12 | 1.12 | 1.12 | 1.12 | 1.12 | 1.12 | 1.12 | 1.12 | 1.12 | 1.12 | 1.12 | 1.12 | 1.12 | 1.12 | 1.12 | 1.12 | 1.12 | 1.12 | 1.12 | 1.12 |
| X3 trade cost % | 0.25 | 0.25 | 0.25 | 0.25 | 0.25 | 0.25 | 0.25 | 0.25 | 0.25 | 0.25 | 0.25 | 0.25 | 0.25 | 0.25 | 0.25 | 0.25 | 0.25 | 0.25 | 0.25 | 0.25 |
| CC haircut % | 3.0 | 3.0 | 3.0 | 3.0 | 3.0 | 3.0 | 3.0 | 3.0 | 3.0 | 3.0 | 3.0 | 3.0 | 3.0 | 3.0 | 3.0 | 3.0 | 3.0 | 3.0 | 3.0 | 3.0 |
| Put enabled | — | true | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Put OTM % | — | 5.0 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Put funding | — | premium_first | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Put max cost % of premium | — | null | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Short put enabled | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Short put moneyness % | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Short put target premium | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Short put collateral mode | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
Summary metrics
NAV is engine state (does not include withdrawn cash). Total wealth = Final NAV + cumulative withdrawn. Cells with two numbers show total above, median per cycle below. The dispersion subline (toggle in filter bar) shows min · median · max of each metric across the timing-variant family.
| Metric | stockonly | stock_only_collar_05 | 85_15 | 85_15_trim | 85_15_band_15_05 | 85_15_cc05 | 85_15_cc05_trim | 85_15_cc10 | 85_15_cc10_trim | 70_30 | 70_30_trim | 70_30_band_30_20 | 70_30_band_30_15 | 70_30_band_30_10 | 70_30_band_30_05 | 70_30_cc05 | 70_30_cc05_trim | 70_30_cc10 | 70_30_cc10_trim | 0_100 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Initial NAV (USD) | 500,000 fan (6): min 500,000 · med 505,081 · max 506,566 | 499,472 fan (6): min 499,472 · med 504,723 · max 506,450 | 500,000 fan (6): min 500,000 · med 504,319 · max 505,581 | 500,000 fan (6): min 500,000 · med 504,319 · max 505,581 | 500,000 fan (6): min 500,000 · med 504,319 · max 505,581 | 499,551 fan (6): min 499,551 · med 504,123 · max 505,529 | 499,551 fan (6): min 499,551 · med 504,123 · max 505,529 | 499,737 fan (6): min 499,737 · med 504,221 · max 505,565 | 499,737 fan (6): min 499,737 · med 504,221 · max 505,565 | 500,000 fan (6): min 500,000 · med 503,557 · max 504,596 | 500,000 fan (6): min 500,000 · med 503,557 · max 504,596 | 500,000 fan (6): min 500,000 · med 503,557 · max 504,596 | 500,000 fan (6): min 500,000 · med 503,557 · max 504,596 | 500,000 fan (6): min 500,000 · med 503,557 · max 504,596 | 500,000 fan (6): min 500,000 · med 503,557 · max 504,596 | 499,630 fan (6): min 499,630 · med 503,395 · max 504,553 | 499,630 fan (6): min 499,630 · med 503,395 · max 504,553 | 499,783 fan (6): min 499,783 · med 503,475 · max 504,583 | 499,783 fan (6): min 499,783 · med 503,475 · max 504,583 | 500,000 fan (6): min 500,000 · med 500,000 · max 500,000 |
| Final NAV (USD, post-tax) | 8,971,315 fan (6): min 8,971,315 · med 9,062,568 · max 9,089,280 | 648,794 fan (6): min 342,694 · med 626,167 · max 896,254 | 24,583,043 fan (6): min 18,053,197 · med 24,651,404 · max 27,858,151 | 19,509,126 fan (6): min 13,285,766 · med 19,514,093 · max 19,790,499 | 19,509,126 fan (6): min 13,321,170 · med 19,575,840 · max 22,196,561 | 11,568,210 fan (6): min 7,378,120 · med 9,245,240 · max 13,056,930 | 8,349,741 fan (6): min 4,617,200 · med 6,099,888 · max 8,349,741 | 12,092,388 fan (6): min 5,896,042 · med 9,221,738 · max 12,943,991 | 8,927,124 fan (6): min 3,822,890 · med 6,531,291 · max 8,927,124 | 58,300,118 fan (6): min 31,098,751 · med 58,390,197 · max 70,893,002 | 40,249,961 fan (6): min 18,982,525 · med 40,250,836 · max 40,843,697 | 51,551,477 fan (6): min 25,744,687 · med 51,709,249 · max 63,429,680 | 44,852,961 fan (6): min 25,925,770 · med 44,811,287 · max 46,782,626 | 40,249,961 fan (6): min 18,982,525 · med 40,250,836 · max 40,843,697 | 40,249,961 fan (6): min 18,982,525 · med 40,250,836 · max 40,843,697 | 37,214,042 fan (6): min 18,303,384 · med 32,056,367 · max 46,985,525 | 22,306,093 fan (6): min 8,802,751 · med 17,259,905 · max 22,306,093 | 37,392,953 fan (6): min 14,731,491 · med 30,956,647 · max 45,260,991 | 23,112,479 fan (6): min 7,452,825 · med 17,492,377 · max 23,112,479 | 671,881,345 fan (6): min 74,166,964 · med 671,881,345 · max 671,881,345 |
| Increased NAV (USD, post-tax) | +8,471,315avg: +96,579/mo fan (6): min 8,471,315 · med 8,557,487 · max 8,582,714 | +149,322avg: +1,702/mo fan (6): min -161,785 · med 126,469 · max 390,299 | +24,083,043avg: +274,562/mo fan (6): min 17,547,616 · med 24,149,244 · max 27,353,832 | +19,009,126avg: +216,716/mo fan (6): min 12,780,184 · med 19,014,093 · max 19,286,180 | +19,009,126avg: +216,716/mo fan (6): min 12,815,589 · med 19,073,681 · max 21,692,242 | +11,068,659avg: +126,190/mo fan (6): min 6,872,591 · med 8,742,624 · max 12,552,672 | +7,850,189avg: +89,497/mo fan (6): min 4,111,671 · med 5,597,927 · max 7,850,189 | +11,592,651avg: +132,164/mo fan (6): min 5,390,477 · med 8,716,969 · max 12,439,689 | +8,427,388avg: +96,078/mo fan (6): min 3,317,324 · med 6,026,522 · max 8,427,388 | +57,800,118avg: +658,959/mo fan (6): min 30,594,155 · med 57,888,418 · max 70,389,446 | +39,749,961avg: +453,175/mo fan (6): min 18,477,928 · med 39,750,836 · max 40,340,141 | +51,051,477avg: +582,020/mo fan (6): min 25,240,091 · med 51,207,471 · max 62,926,124 | +44,352,961avg: +505,653/mo fan (6): min 25,421,173 · med 44,309,508 · max 46,279,069 | +39,749,961avg: +453,175/mo fan (6): min 18,477,928 · med 39,750,836 · max 40,340,141 | +39,749,961avg: +453,175/mo fan (6): min 18,477,928 · med 39,750,836 · max 40,340,141 | +36,714,412avg: +418,568/mo fan (6): min 17,798,831 · med 31,554,752 · max 46,482,019 | +21,806,463avg: +248,608/mo fan (6): min 8,298,198 · med 16,758,291 · max 21,806,463 | +36,893,170avg: +420,606/mo fan (6): min 14,226,908 · med 30,454,957 · max 44,757,449 | +22,612,696avg: +257,799/mo fan (6): min 6,948,242 · med 16,990,687 · max 22,612,696 | +671,381,345avg: +7,654,185/mo fan (6): min 73,666,964 · med 671,381,345 · max 671,381,345 |
| Withdrawn cash (USD) | 0 fan (6): min 0 · med 0 · max 0 | 0 fan (6): min 0 · med 0 · max 0 | 0 fan (6): min 0 · med 0 · max 0 | 0 fan (6): min 0 · med 0 · max 0 | 0 fan (6): min 0 · med 0 · max 0 | 0 fan (6): min 0 · med 0 · max 0 | 0 fan (6): min 0 · med 0 · max 0 | 0 fan (6): min 0 · med 0 · max 0 | 0 fan (6): min 0 · med 0 · max 0 | 0 fan (6): min 0 · med 0 · max 0 | 0 fan (6): min 0 · med 0 · max 0 | 0 fan (6): min 0 · med 0 · max 0 | 0 fan (6): min 0 · med 0 · max 0 | 0 fan (6): min 0 · med 0 · max 0 | 0 fan (6): min 0 · med 0 · max 0 | 0 fan (6): min 0 · med 0 · max 0 | 0 fan (6): min 0 · med 0 · max 0 | 0 fan (6): min 0 · med 0 · max 0 | 0 fan (6): min 0 · med 0 · max 0 | 0 fan (6): min 0 · med 0 · max 0 |
| Total wealth (NAV + withdrawn, USD post-tax) | 8,971,315+1694.3% of initial fan (6): min 8,971,315 · med 9,062,568 · max 9,089,280 | 648,794+29.9% of initial fan (6): min 342,694 · med 626,167 · max 896,254 | 24,583,043+4816.6% of initial fan (6): min 18,053,197 · med 24,651,404 · max 27,858,151 | 19,509,126+3801.8% of initial fan (6): min 13,285,766 · med 19,514,093 · max 19,790,499 | 19,509,126+3801.8% of initial fan (6): min 13,321,170 · med 19,575,840 · max 22,196,561 | 11,568,210+2215.7% of initial fan (6): min 7,378,120 · med 9,245,240 · max 13,056,930 | 8,349,741+1571.4% of initial fan (6): min 4,617,200 · med 6,099,888 · max 8,349,741 | 12,092,388+2319.8% of initial fan (6): min 5,896,042 · med 9,221,738 · max 12,943,991 | 8,927,124+1686.4% of initial fan (6): min 3,822,890 · med 6,531,291 · max 8,927,124 | 58,300,118+11560.0% of initial fan (6): min 31,098,751 · med 58,390,197 · max 70,893,002 | 40,249,961+7950.0% of initial fan (6): min 18,982,525 · med 40,250,836 · max 40,843,697 | 51,551,477+10210.3% of initial fan (6): min 25,744,687 · med 51,709,249 · max 63,429,680 | 44,852,961+8870.6% of initial fan (6): min 25,925,770 · med 44,811,287 · max 46,782,626 | 40,249,961+7950.0% of initial fan (6): min 18,982,525 · med 40,250,836 · max 40,843,697 | 40,249,961+7950.0% of initial fan (6): min 18,982,525 · med 40,250,836 · max 40,843,697 | 37,214,042+7348.3% of initial fan (6): min 18,303,384 · med 32,056,367 · max 46,985,525 | 22,306,093+4364.5% of initial fan (6): min 8,802,751 · med 17,259,905 · max 22,306,093 | 37,392,953+7381.8% of initial fan (6): min 14,731,491 · med 30,956,647 · max 45,260,991 | 23,112,479+4524.5% of initial fan (6): min 7,452,825 · med 17,492,377 · max 23,112,479 | 671,881,345+134276.3% of initial fan (6): min 74,166,964 · med 671,881,345 · max 671,881,345 |
| CAGR USD | 49.01% fan (6): min 49.0% · med 49.0% · max 49.0% | 4.23% fan (6): min -4.5% · med 3.7% · max 8.8% | 70.98% fan (6): min 63.7% · med 70.9% · max 73.7% | 65.67% fan (6): min 57.0% · med 65.7% · max 65.8% | 65.67% fan (6): min 57.0% · med 65.7% · max 68.4% | 54.18% fan (6): min 44.7% · med 49.4% · max 56.5% | 47.47% fan (6): min 35.8% · med 41.2% · max 47.5% | 55.12% fan (6): min 40.4% · med 49.3% · max 56.4% | 48.83% fan (6): min 32.4% · med 42.4% · max 48.8% | 92.37% fan (6): min 76.3% · med 92.3% · max 97.4% | 82.90% fan (6): min 64.9% · med 82.9% · max 83.1% | 89.17% fan (6): min 71.9% · med 89.2% · max 94.4% | 85.62% fan (6): min 72.0% · med 85.5% · max 86.5% | 82.90% fan (6): min 64.9% · med 82.9% · max 83.1% | 82.90% fan (6): min 64.9% · med 82.9% · max 83.1% | 80.86% fan (6): min 63.9% · med 77.0% · max 86.5% | 68.66% fan (6): min 48.3% · med 62.8% · max 68.7% | 80.99% fan (6): min 59.2% · med 76.3% · max 85.6% | 69.48% fan (6): min 45.1% · med 63.0% · max 69.5% | 168.79% fan (6): min 99.0% · med 168.8% · max 168.8% |
| Max drawdown | -73.6%9,914,718 → 2,614,2942021-11-04 → 2023-01-03 fan (6): min -73.6% · med -73.6% · max -73.6% | -45.3%785,247 → 429,5782021-10-25 → 2023-01-03 fan (6): min -54.3% · med -44.0% · max -34.9% | -75.2%20,898,123 → 5,181,3712021-11-04 → 2023-01-03 fan (6): min -75.4% · med -75.0% · max -73.8% | -75.7%18,146,187 → 4,413,4352021-11-04 → 2023-01-03 fan (6): min -75.7% · med -75.5% · max -75.2% | -75.7%18,146,187 → 4,413,4352021-11-04 → 2023-01-03 fan (6): min -75.7% · med -74.8% · max -73.3% | -66.0%7,673,131 → 2,612,5922022-01-03 → 2022-12-27 fan (6): min -72.0% · med -65.3% · max -63.9% | -65.6%6,171,783 → 2,122,8772022-01-03 → 2022-12-27 fan (6): min -71.5% · med -65.6% · max -64.6% | -69.0%8,336,864 → 2,583,3262021-11-04 → 2022-12-27 fan (6): min -74.2% · med -68.9% · max -68.0% | -69.3%6,832,660 → 2,096,5752021-11-04 → 2022-12-27 fan (6): min -73.9% · med -69.9% · max -68.3% | -76.9%40,120,387 → 9,268,4102021-11-04 → 2023-01-03 fan (6): min -77.2% · med -76.6% · max -74.8% | -77.6%32,029,860 → 7,169,2582021-11-04 → 2023-01-03 fan (6): min -77.7% · med -77.4% · max -76.9% | -77.1%36,318,099 → 8,330,2662021-11-04 → 2023-01-03 fan (6): min -77.5% · med -76.5% · max -74.6% | -76.0%32,029,860 → 7,691,7432021-11-04 → 2023-01-03 fan (6): min -76.1% · med -75.7% · max -75.0% | -77.6%32,029,860 → 7,169,2582021-11-04 → 2023-01-03 fan (6): min -77.7% · med -77.4% · max -76.9% | -77.6%32,029,860 → 7,169,2582021-11-04 → 2023-01-03 fan (6): min -77.7% · med -77.4% · max -76.9% | -68.7%19,209,429 → 6,008,4452021-11-04 → 2022-12-27 fan (6): min -74.7% · med -68.7% · max -66.2% | -68.7%13,873,341 → 4,343,1162021-11-04 → 2022-12-27 fan (6): min -74.0% · med -68.7% · max -68.1% | -72.2%20,999,364 → 5,840,6832021-11-04 → 2022-12-27 fan (6): min -76.4% · med -71.7% · max -69.7% | -72.6%15,345,856 → 4,205,2302021-11-04 → 2022-12-27 fan (6): min -76.0% · med -72.7% · max -71.5% | -86.5%314,609,896 → 42,444,8142021-11-04 → 2022-07-13 fan (6): min -86.8% · med -86.5% · max -86.5% |
| Sharpe USD | 0.88 fan (6): min 0.88 · med 0.88 · max 0.88 | 0.19 fan (6): min -0.01 · med 0.18 · max 0.31 | 1.06 fan (6): min 1.00 · med 1.06 · max 1.08 | 1.02 fan (6): min 0.94 · med 1.02 · max 1.02 | 1.02 fan (6): min 0.94 · med 1.02 · max 1.04 | 0.97 fan (6): min 0.86 · med 0.91 · max 0.99 | 0.90 fan (6): min 0.75 · med 0.82 · max 0.90 | 0.97 fan (6): min 0.80 · med 0.90 · max 0.98 | 0.90 fan (6): min 0.70 · med 0.83 · max 0.90 | 1.18 fan (6): min 1.06 · med 1.18 · max 1.21 | 1.13 fan (6): min 0.99 · med 1.12 · max 1.13 | 1.16 fan (6): min 1.03 · med 1.16 · max 1.19 | 1.14 fan (6): min 1.04 · med 1.14 · max 1.14 | 1.13 fan (6): min 0.99 · med 1.12 · max 1.13 | 1.13 fan (6): min 0.99 · med 1.12 · max 1.13 | 1.16 fan (6): min 1.00 · med 1.12 · max 1.19 | 1.08 fan (6): min 0.87 · med 1.01 · max 1.08 | 1.15 fan (6): min 0.96 · med 1.10 · max 1.17 | 1.07 fan (6): min 0.83 · med 1.00 · max 1.07 | 1.37 fan (6): min 1.14 · med 1.37 · max 1.37 |
| Premium collected (USD) | 0 fan (6): min 0 · med 0 · max 0 | 2,324,916median: 24,390/cycle(n=88) fan (6): min 1,662,193 · med 2,378,000 · max 3,208,768 | 0 fan (6): min 0 · med 0 · max 0 | 0 fan (6): min 0 · med 0 · max 0 | 0 fan (6): min 0 · med 0 · max 0 | 16,236,235median: 170,518/cycle(n=88) fan (6): min 10,821,420 · med 14,301,600 · max 18,710,158 | 13,201,209median: 141,428/cycle(n=88) fan (6): min 8,070,045 · med 11,030,316 · max 13,802,122 | 11,456,149median: 108,560/cycle(n=88) fan (6): min 6,773,860 · med 9,686,531 · max 13,625,931 | 9,420,402median: 96,713/cycle(n=88) fan (6): min 5,234,343 · med 7,734,746 · max 10,288,514 | 0 fan (6): min 0 · med 0 · max 0 | 0 fan (6): min 0 · med 0 · max 0 | 0 fan (6): min 0 · med 0 · max 0 | 0 fan (6): min 0 · med 0 · max 0 | 0 fan (6): min 0 · med 0 · max 0 | 0 fan (6): min 0 · med 0 · max 0 | 37,272,426median: 342,668/cycle(n=88) fan (6): min 19,550,572 · med 32,043,595 · max 46,369,078 | 26,678,035median: 276,178/cycle(n=88) fan (6): min 12,105,294 · med 21,935,911 · max 27,925,327 | 25,413,698median: 228,025/cycle(n=88) fan (6): min 11,934,307 · med 21,872,549 · max 32,398,429 | 18,528,852median: 178,368/cycle(n=88) fan (6): min 7,747,327 · med 15,464,991 · max 20,180,915 | 0 fan (6): min 0 · med 0 · max 0 |
| Upside lost to assignments (USD) Σ over assigned cycles of (spot at expiry − strike) × shares assigned: gains the CC capped away. | — | -3,565,207 | — | — | — | -18,773,230 | -15,768,845 | -13,727,386 | -11,693,839 | — | — | — | — | — | — | -39,709,267 | -29,681,491 | -27,634,314 | -21,158,960 | — |
| Net (premium − upside lost) USD Total CC premium collected minus upside lost to assignments. Positive = the CC overlay paid for itself; negative = assignments cost more than the premium earned. | — | -1,240,291 | — | — | — | -2,536,995 | -2,567,635 | -2,271,237 | -2,273,437 | — | — | — | — | — | — | -2,436,841 | -3,003,456 | -2,220,616 | -2,630,107 | — |
| X3 P&L on assigned cycles (USD) X3 sleeve P&L during the cycles where the CC was assigned — the rallies that capped the call usually lifted X3 too. | — | +0 | — | — | — | +9,429,325 | +5,723,776 | +9,161,888 | +5,819,959 | — | — | — | — | — | — | +46,792,452 | +25,262,496 | +43,905,288 | +24,997,529 | — |
| Net + X3 offset on assigned (USD) Net (premium − upside lost) plus the X3 sleeve's P&L during assigned cycles — credits X3 for cushioning the same rallies that capped the call. | — | -1,240,291 | — | — | — | +6,892,330 | +3,156,141 | +6,890,651 | +3,546,522 | — | — | — | — | — | — | +44,355,611 | +22,259,040 | +41,684,672 | +22,367,421 | — |
| Median premium % of NAV/cycle | — fan (6): min 0.00% · med 0.00% · max 0.00% | 3.96% fan (6): min 3.74% · med 3.94% · max 4.44% | — fan (6): min 0.00% · med 0.00% · max 0.00% | — fan (6): min 0.00% · med 0.00% · max 0.00% | — fan (6): min 0.00% · med 0.00% · max 0.00% | 3.46% fan (6): min 3.25% · med 3.44% · max 3.85% | 3.65% fan (6): min 3.38% · med 3.72% · max 3.96% | 2.15% fan (6): min 2.13% · med 2.29% · max 2.43% | 2.30% fan (6): min 2.22% · med 2.38% · max 2.52% | — fan (6): min 0.00% · med 0.00% · max 0.00% | — fan (6): min 0.00% · med 0.00% · max 0.00% | — fan (6): min 0.00% · med 0.00% · max 0.00% | — fan (6): min 0.00% · med 0.00% · max 0.00% | — fan (6): min 0.00% · med 0.00% · max 0.00% | — fan (6): min 0.00% · med 0.00% · max 0.00% | 2.85% fan (6): min 2.68% · med 2.84% · max 3.18% | 3.13% fan (6): min 3.03% · med 3.19% · max 3.40% | 1.77% fan (6): min 1.76% · med 1.89% · max 2.00% | 2.01% fan (6): min 1.97% · med 2.08% · max 2.16% | — fan (6): min 0.00% · med 0.00% · max 0.00% |
| # CC cycles | 0 fan (6): min 0 · med 0 · max 0 | 88 fan (6): min 88 · med 88 · max 88 | 0 fan (6): min 0 · med 0 · max 0 | 0 fan (6): min 0 · med 0 · max 0 | 0 fan (6): min 0 · med 0 · max 0 | 88 fan (6): min 88 · med 88 · max 88 | 88 fan (6): min 88 · med 88 · max 88 | 88 fan (6): min 88 · med 88 · max 88 | 88 fan (6): min 88 · med 88 · max 88 | 0 fan (6): min 0 · med 0 · max 0 | 0 fan (6): min 0 · med 0 · max 0 | 0 fan (6): min 0 · med 0 · max 0 | 0 fan (6): min 0 · med 0 · max 0 | 0 fan (6): min 0 · med 0 · max 0 | 0 fan (6): min 0 · med 0 · max 0 | 88 fan (6): min 88 · med 88 · max 88 | 88 fan (6): min 88 · med 88 · max 88 | 88 fan (6): min 88 · med 88 · max 88 | 88 fan (6): min 88 · med 88 · max 88 | 0 fan (6): min 0 · med 0 · max 0 |
| # CC assigned | 0 (0.0%) fan (6): min 0 · med 0 · max 0 | 34 (38.6%) fan (6): min 32 · med 34 · max 36 | 0 (0.0%) fan (6): min 0 · med 0 · max 0 | 0 (0.0%) fan (6): min 0 · med 0 · max 0 | 0 (0.0%) fan (6): min 0 · med 0 · max 0 | 34 (38.6%) fan (6): min 32 · med 34 · max 36 | 34 (38.6%) fan (6): min 32 · med 34 · max 36 | 26 (29.5%) fan (6): min 23 · med 26 · max 26 | 26 (29.5%) fan (6): min 23 · med 26 · max 26 | 0 (0.0%) fan (6): min 0 · med 0 · max 0 | 0 (0.0%) fan (6): min 0 · med 0 · max 0 | 0 (0.0%) fan (6): min 0 · med 0 · max 0 | 0 (0.0%) fan (6): min 0 · med 0 · max 0 | 0 (0.0%) fan (6): min 0 · med 0 · max 0 | 0 (0.0%) fan (6): min 0 · med 0 · max 0 | 34 (38.6%) fan (6): min 32 · med 34 · max 36 | 34 (38.6%) fan (6): min 32 · med 34 · max 36 | 26 (29.5%) fan (6): min 23 · med 26 · max 26 | 26 (29.5%) fan (6): min 23 · med 26 · max 26 | 0 (0.0%) fan (6): min 0 · med 0 · max 0 |
| # X3 entries / exits | 0 / 0 | 0 / 0 | 135 / 132 | 135 / 132 | 135 / 132 | 135 / 132 | 135 / 132 | 135 / 132 | 135 / 132 | 135 / 132 | 135 / 132 | 135 / 132 | 135 / 132 | 135 / 132 | 135 / 132 | 135 / 132 | 135 / 132 | 135 / 132 | 135 / 132 | 135 / 132 |
| Avg X3 cycle win / loss | +0.0% / +0.0% | +0.0% / +0.0% | +50.4% / -16.5% | +50.4% / -16.5% | +50.4% / -16.5% | +50.4% / -16.5% | +50.4% / -16.5% | +50.4% / -16.5% | +50.4% / -16.5% | +50.4% / -16.5% | +50.4% / -16.5% | +50.4% / -16.5% | +50.4% / -16.5% | +50.4% / -16.5% | +50.4% / -16.5% | +50.4% / -16.5% | +50.4% / -16.5% | +50.4% / -16.5% | +50.4% / -16.5% | +50.4% / -16.5% |
| Schablonskatt (USD) | 258,029 | 27,200 | 630,530 | 518,592 | 518,592 | 260,524 | 197,207 | 278,820 | 214,523 | 1,397,894 | 1,013,026 | 1,250,592 | 1,112,181 | 1,013,026 | 1,013,026 | 782,655 | 495,701 | 807,683 | 524,779 | 16,394,326 |
Robustness across timing variants
Strategy response to TSLA cycle moves (per-cycle returns by TSLA-bucket, SPEC §6.3 + §6.4)
Per CC cycle, bucketed by TSLA's window return. X3 sleeve columns isolate X3 behavior (identical across strategies sharing schedule + sleeve weight). Per-strategy columns show median % / mean % of total cycle return for cycles in that bucket.
| TSLA bucket | Sample count | Avg TSLA return % | X3 sleeve return % (med / mean) | stockonly | stock_only_collar_05 | 85_15 | 85_15_trim | 85_15_band_15_05 | 85_15_cc05 | 85_15_cc05_trim | 85_15_cc10 | 85_15_cc10_trim | 70_30 | 70_30_trim | 70_30_band_30_20 | 70_30_band_30_15 | 70_30_band_30_10 | 70_30_band_30_05 | 70_30_cc05 | 70_30_cc05_trim | 70_30_cc10 | 70_30_cc10_trim | 0_100 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| -37.5% to -32.5% | 1 | -32.6% | -22.6% / -22.6% fan (4): min -22.6% · med -21.0% · max -5.4% | -32.6% / -32.6% fan (4): min -37.2% · med -34.7% · max -32.6% | -6.6% / -6.6% fan (4): min -8.2% · med -6.6% · max -2.8% | -31.1% / -31.1% fan (4): min -34.5% · med -31.8% · max -30.7% | -31.8% / -31.8% fan (4): min -36.1% · med -33.4% · max -31.8% | -31.8% / -31.8% fan (4): min -34.5% · med -32.5% · max -31.3% | -28.4% / -28.4% fan (4): min -31.5% · med -28.7% · max -28.1% | -29.0% / -29.0% fan (4): min -33.0% · med -30.4% · max -29.0% | -29.4% / -29.4% fan (4): min -32.6% · med -29.8% · max -29.0% | -30.0% / -30.0% fan (4): min -34.1% · med -31.4% · max -30.0% | -29.6% / -29.6% fan (4): min -31.8% · med -30.2% · max -26.2% | -30.9% / -30.9% fan (4): min -34.7% · med -31.9% · max -30.9% | -29.7% / -29.7% fan (4): min -31.8% · med -30.2% · max -27.3% | -29.6% / -29.6% fan (4): min -32.6% · med -30.2% · max -27.3% | -30.9% / -30.9% fan (4): min -34.7% · med -31.9% · max -30.9% | -30.9% / -30.9% fan (4): min -34.7% · med -31.9% · max -30.9% | -27.4% / -27.4% fan (4): min -29.3% · med -27.7% · max -24.1% | -28.5% / -28.5% fan (4): min -32.2% · med -29.3% · max -28.5% | -28.2% / -28.2% fan (4): min -30.2% · med -28.5% · max -24.9% | -29.3% / -29.3% fan (4): min -33.1% · med -30.2% · max -29.3% | -22.6% / -22.6% fan (4): min -22.6% · med -21.0% · max -5.4% |
| -32.5% to -27.5% | 1 | -27.6% | -18.9% / -18.9% fan (6): min -20.1% · med -19.3% · max +3.8% | -27.6% / -27.6% fan (6): min -30.8% · med -30.0% · max -27.6% | -5.6% / -5.6% fan (6): min -11.4% · med -6.8% · max -5.6% | -26.3% / -26.3% fan (6): min -29.0% · med -28.5% · max -23.4% | -26.6% / -26.6% fan (6): min -29.3% · med -28.8% · max -23.4% | -26.6% / -26.6% fan (6): min -29.3% · med -28.8% · max -23.4% | -23.7% / -23.7% fan (6): min -26.7% · med -25.9% · max -20.8% | -23.9% / -23.9% fan (6): min -27.1% · med -26.1% · max -20.8% | -24.9% / -24.9% fan (6): min -27.4% · med -26.8% · max -21.9% | -25.1% / -25.1% fan (6): min -27.8% · med -27.0% · max -21.9% | -25.0% / -25.0% fan (6): min -27.3% · med -26.9% · max -18.6% | -25.6% / -25.6% fan (6): min -28.1% · med -27.4% · max -18.6% | -25.5% / -25.5% fan (6): min -28.1% · med -27.3% · max -18.6% | -25.6% / -25.6% fan (6): min -28.1% · med -27.4% · max -18.6% | -25.6% / -25.6% fan (6): min -28.1% · med -27.4% · max -18.6% | -25.6% / -25.6% fan (6): min -28.1% · med -27.4% · max -18.6% | -22.9% / -22.9% fan (6): min -25.5% · med -24.8% · max -16.4% | -23.1% / -23.1% fan (6): min -26.2% · med -25.0% · max -16.4% | -23.8% / -23.8% fan (6): min -26.1% · med -25.5% · max -17.4% | -24.3% / -24.3% fan (6): min -26.8% · med -25.7% · max -17.4% | -18.9% / -18.9% fan (6): min -20.1% · med -19.3% · max +3.8% |
| -27.5% to -22.5% | 2 | -24.6% | +1.9% / +1.9% fan (6): min -25.0% · med -11.0% · max +1.9% | -24.6% / -24.6% fan (6): min -27.4% · med -25.9% · max -24.3% | -6.5% / -6.5% fan (6): min -13.3% · med -5.9% · max -1.1% | -20.6% / -20.6% fan (6): min -26.1% · med -23.5% · max -20.6% | -21.0% / -21.0% fan (6): min -26.3% · med -23.9% · max -21.0% | -21.0% / -21.0% fan (6): min -26.3% · med -23.9% · max -21.0% | -17.6% / -17.6% fan (6): min -23.6% · med -20.9% · max -17.6% | -17.9% / -17.9% fan (6): min -23.8% · med -21.2% · max -17.9% | -18.7% / -18.7% fan (6): min -24.6% · med -21.7% · max -18.7% | -19.0% / -19.0% fan (6): min -24.8% · med -22.2% · max -19.0% | -16.7% / -16.7% fan (6): min -25.7% · med -21.3% · max -16.7% | -17.2% / -17.2% fan (6): min -25.9% · med -22.1% · max -17.2% | -17.2% / -17.2% fan (6): min -25.9% · med -21.7% · max -17.2% | -17.2% / -17.2% fan (6): min -25.9% · med -21.7% · max -17.2% | -17.2% / -17.2% fan (6): min -25.9% · med -22.1% · max -17.2% | -17.2% / -17.2% fan (6): min -25.9% · med -22.1% · max -17.2% | -14.2% / -14.2% fan (6): min -22.8% · med -19.2% · max -14.2% | -14.7% / -14.7% fan (6): min -23.1% · med -19.9% · max -14.7% | -15.0% / -15.0% fan (6): min -23.6% · med -19.8% · max -15.0% | -15.6% / -15.6% fan (6): min -23.9% · med -20.6% · max -15.6% | +1.9% / +1.9% fan (6): min -25.0% · med -11.0% · max +1.9% |
| -22.5% to -17.5% | 4 | -20.7% | -19.7% / -20.0% fan (6): min -24.0% · med -13.6% · max +8.1% | -20.9% / -20.7% fan (6): min -20.9% · med -19.8% · max -18.0% | -5.6% / -5.9% fan (6): min -7.0% · med -5.6% · max -4.7% | -20.7% / -20.6% fan (6): min -20.7% · med -18.8% · max -15.7% | -20.9% / -20.8% fan (6): min -20.9% · med -18.9% · max -17.8% | -20.9% / -20.8% fan (6): min -20.9% · med -19.0% · max -16.1% | -17.4% / -17.7% fan (6): min -17.4% · med -16.0% · max -13.1% | -17.3% / -17.7% fan (6): min -17.5% · med -16.3% · max -15.2% | -18.7% / -18.9% fan (6): min -18.7% · med -17.0% · max -13.9% | -18.7% / -19.0% fan (6): min -18.7% · med -17.0% · max -16.0% | -20.3% / -20.5% fan (6): min -20.3% · med -17.8% · max -11.5% | -20.6% / -20.7% fan (6): min -20.6% · med -18.3% · max -15.3% | -20.3% / -20.5% fan (6): min -20.3% · med -17.9% · max -12.1% | -20.6% / -20.7% fan (6): min -20.6% · med -17.9% · max -13.7% | -20.6% / -20.7% fan (6): min -20.6% · med -18.3% · max -15.3% | -20.6% / -20.7% fan (6): min -20.6% · med -18.3% · max -15.3% | -17.8% / -18.1% fan (6): min -17.8% · med -15.4% · max -9.3% | -17.5% / -18.0% fan (6): min -17.5% · med -15.8% · max -13.2% | -18.8% / -19.1% fan (6): min -18.8% · med -16.2% · max -10.1% | -18.8% / -19.2% fan (6): min -18.8% · med -16.5% · max -13.9% | -19.7% / -20.0% fan (6): min -24.0% · med -13.6% · max +8.1% |
| -17.5% to -12.5% | 6 | -14.7% | -21.8% / -16.8% fan (6): min -21.8% · med -15.7% · max -7.9% | -14.4% / -14.7% fan (6): min -17.2% · med -15.5% · max -14.4% | -5.8% / -5.2% fan (6): min -6.0% · med -5.5% · max -3.3% | -16.4% / -15.1% fan (6): min -16.4% · med -15.8% · max -14.1% | -15.9% / -15.2% fan (6): min -16.4% · med -15.9% · max -14.6% | -15.9% / -15.2% fan (6): min -16.0% · med -15.9% · max -14.6% | -12.5% / -11.5% fan (6): min -13.0% · med -12.5% · max -10.6% | -11.8% / -11.3% fan (6): min -13.0% · med -12.4% · max -11.4% | -13.5% / -12.6% fan (6): min -14.0% · med -13.5% · max -11.7% | -12.9% / -12.6% fan (6): min -14.0% · med -13.4% · max -12.5% | -17.9% / -15.4% fan (6): min -17.9% · med -15.7% · max -13.2% | -17.0% / -15.6% fan (6): min -17.0% · med -15.7% · max -14.1% | -17.7% / -15.4% fan (6): min -17.7% · med -15.7% · max -13.4% | -17.0% / -15.0% fan (6): min -17.0% · med -15.7% · max -13.2% | -17.0% / -15.6% fan (6): min -17.0% · med -15.7% · max -14.1% | -17.0% / -15.6% fan (6): min -17.0% · med -15.7% · max -14.1% | -15.0% / -12.4% fan (6): min -15.0% · med -13.1% · max -10.3% | -13.9% / -12.2% fan (6): min -14.1% · med -13.1% · max -10.9% | -15.9% / -13.4% fan (6): min -15.9% · med -13.9% · max -11.2% | -15.0% / -13.3% fan (6): min -15.1% · med -13.9% · max -11.9% | -21.8% / -16.8% fan (6): min -21.8% · med -15.7% · max -7.9% |
| -12.5% to -7.5% | 9 | -9.4% | -9.9% / -9.2% fan (6): min -23.9% · med -12.3% · max -9.2% | -9.4% / -9.4% fan (6): min -11.7% · med -9.9% · max -9.3% | -5.5% / -5.4% fan (6): min -8.3% · med -6.0% · max -5.1% | -9.7% / -9.4% fan (6): min -14.2% · med -10.5% · max -9.0% | -9.7% / -9.7% fan (6): min -14.0% · med -10.3% · max -9.2% | -9.7% / -9.7% fan (6): min -14.0% · med -10.3% · max -9.1% | -7.3% / -5.9% fan (6): min -11.2% · med -7.8% · max -5.3% | -7.2% / -6.2% fan (6): min -10.8% · med -7.2% · max -4.6% | -8.4% / -7.2% fan (6): min -12.3% · med -9.0% · max -6.5% | -8.3% / -7.5% fan (6): min -12.0% · med -8.4% · max -6.0% | -9.6% / -9.3% fan (6): min -15.9% · med -11.0% · max -9.6% | -9.5% / -10.0% fan (6): min -15.7% · med -10.7% · max -9.5% | -9.5% / -9.7% fan (6): min -15.7% · med -11.0% · max -9.5% | -9.5% / -9.6% fan (6): min -15.7% · med -10.8% · max -9.5% | -9.5% / -10.0% fan (6): min -15.7% · med -10.7% · max -9.5% | -9.5% / -10.0% fan (6): min -15.7% · med -10.7% · max -9.5% | -7.4% / -6.5% fan (6): min -13.4% · med -8.5% · max -5.7% | -7.4% / -6.9% fan (6): min -12.7% · med -7.9% · max -5.0% | -8.1% / -7.5% fan (6): min -14.3% · med -9.3% · max -7.0% | -8.1% / -8.1% fan (6): min -13.9% · med -8.9% · max -6.5% | -9.9% / -9.2% fan (6): min -23.9% · med -12.3% · max -9.2% |
| -7.5% to -2.5% | 13 | -4.6% | -17.9% / -19.5% fan (6): min -17.9% · med -14.9% · max -10.6% | -4.3% / -4.6% fan (6): min -5.8% · med -5.1% · max -4.3% | -5.0% / -4.5% fan (6): min -6.5% · med -4.8% · max -3.4% | -6.7% / -6.8% fan (6): min -7.4% · med -6.4% · max -5.2% | -6.5% / -6.3% fan (6): min -7.1% · med -6.2% · max -5.2% | -6.5% / -6.3% fan (6): min -7.1% · med -6.2% · max -5.2% | -3.5% / -3.2% fan (6): min -4.3% · med -3.3% · max -1.7% | -2.5% / -2.4% fan (6): min -4.3% · med -2.3% · max -1.4% | -4.6% / -4.3% fan (6): min -5.6% · med -4.4% · max -3.0% | -3.6% / -3.7% fan (6): min -5.4% · med -3.6% · max -2.8% | -9.1% / -9.0% fan (6): min -10.1% · med -8.0% · max -6.6% | -8.6% / -8.2% fan (6): min -8.7% · med -7.4% · max -6.3% | -8.8% / -8.6% fan (6): min -9.7% · med -7.6% · max -6.3% | -8.6% / -8.4% fan (6): min -9.5% · med -7.7% · max -6.3% | -8.6% / -8.2% fan (6): min -8.7% · med -7.4% · max -6.3% | -8.6% / -8.2% fan (6): min -8.7% · med -7.4% · max -6.3% | -6.6% / -6.1% fan (6): min -7.1% · med -4.9% · max -3.3% | -4.3% / -4.7% fan (6): min -6.2% · med -4.0% · max -2.2% | -7.6% / -7.0% fan (6): min -7.8% · med -5.8% · max -4.2% | -5.4% / -5.8% fan (6): min -6.8% · med -5.1% · max -3.7% | -17.9% / -19.5% fan (6): min -17.9% · med -14.9% · max -10.6% |
| -2.5% to +2.5% | 8 | +0.2% | +2.5% / +11.3% fan (6): min -7.7% · med -1.0% · max +2.5% | -0.1% / +0.2% fan (6): min -0.4% · med -0.0% · max +0.2% | -0.9% / +0.1% fan (6): min -1.3% · med +0.1% · max +0.6% | +0.3% / +1.8% fan (6): min -0.6% · med +0.1% · max +1.6% | +0.4% / +1.5% fan (6): min -0.6% · med +0.1% · max +1.7% | +0.4% / +1.5% fan (6): min -0.6% · med +0.1% · max +1.7% | +4.9% / +5.6% fan (6): min +2.4% · med +4.2% · max +5.0% | +5.0% / +5.4% fan (6): min +2.5% · med +4.3% · max +5.0% | +3.6% / +4.3% fan (6): min +2.1% · med +2.9% · max +3.7% | +3.5% / +4.0% fan (6): min +2.1% · med +3.0% · max +3.8% | +0.6% / +3.5% fan (6): min -1.8% · med -0.0% · max +1.3% | +0.4% / +2.9% fan (6): min -1.0% · med -0.1% · max +1.4% | +0.4% / +3.4% fan (6): min -1.8% · med -0.1% · max +1.4% | +0.4% / +2.9% fan (6): min -1.8% · med -0.1% · max +1.4% | +0.4% / +2.9% fan (6): min -1.0% · med -0.1% · max +1.4% | +0.4% / +2.9% fan (6): min -1.0% · med -0.1% · max +1.4% | +3.9% / +6.6% fan (6): min +1.0% · med +2.4% · max +4.0% | +4.1% / +6.1% fan (6): min +1.2% · med +2.8% · max +4.3% | +2.7% / +5.5% fan (6): min +0.2% · med +1.4% · max +3.0% | +2.7% / +5.0% fan (6): min +0.2% · med +1.8% · max +3.2% | +2.5% / +11.3% fan (6): min -7.7% · med -1.0% · max +2.5% |
| +2.5% to +7.5% | 13 | +5.0% | -2.3% / +2.0% fan (6): min -5.0% · med -2.0% · max +6.1% | +5.4% / +5.0% fan (6): min +4.3% · med +5.1% · max +5.5% | +4.7% / +4.6% fan (6): min +4.2% · med +4.7% · max +5.4% | +4.3% / +4.6% fan (6): min +3.4% · med +4.2% · max +5.2% | +4.6% / +4.7% fan (6): min +3.9% · med +4.4% · max +5.2% | +4.6% / +4.7% fan (6): min +3.9% · med +4.4% · max +5.2% | +7.0% / +7.5% fan (6): min +6.8% · med +7.4% · max +8.8% | +7.2% / +7.7% fan (6): min +7.1% · med +7.6% · max +8.7% | +6.7% / +6.7% fan (6): min +5.7% · med +6.6% · max +7.5% | +7.2% / +6.8% fan (6): min +6.0% · med +6.9% · max +7.7% | +3.2% / +4.1% fan (6): min +1.8% · med +3.1% · max +5.3% | +3.7% / +4.2% fan (6): min +2.1% · med +3.5% · max +5.2% | +3.7% / +4.3% fan (6): min +2.1% · med +3.4% · max +5.3% | +3.7% / +4.2% fan (6): min +2.1% · med +3.5% · max +5.2% | +3.7% / +4.2% fan (6): min +2.1% · med +3.5% · max +5.2% | +3.7% / +4.2% fan (6): min +2.1% · med +3.5% · max +5.2% | +5.6% / +6.5% fan (6): min +4.6% · med +5.6% · max +8.3% | +5.9% / +6.8% fan (6): min +5.0% · med +5.9% · max +8.7% | +5.1% / +5.8% fan (6): min +3.8% · med +5.0% · max +7.0% | +5.2% / +6.1% fan (6): min +4.2% · med +5.2% · max +7.1% | -2.3% / +2.0% fan (6): min -5.0% · med -2.0% · max +6.1% |
| +7.5% to +12.5% | 7 | +10.4% | +24.9% / +31.4% fan (6): min -4.3% · med +7.9% · max +24.9% | +10.7% / +10.4% fan (6): min +8.2% · med +9.3% · max +10.9% | +5.2% / +5.7% fan (6): min +5.2% · med +5.8% · max +7.1% | +13.2% / +13.5% fan (6): min +6.2% · med +8.8% · max +13.2% | +12.5% / +12.5% fan (6): min +6.7% · med +9.0% · max +12.5% | +12.5% / +12.5% fan (6): min +6.7% · med +9.0% · max +12.5% | +11.9% / +13.3% fan (6): min +8.3% · med +10.1% · max +11.9% | +11.3% / +12.2% fan (6): min +8.9% · med +10.1% · max +11.3% | +15.1% / +15.7% fan (6): min +7.7% · med +11.8% · max +15.1% | +14.5% / +14.8% fan (6): min +8.6% · med +12.0% · max +14.5% | +15.3% / +16.7% fan (6): min +4.1% · med +8.1% · max +15.3% | +14.5% / +15.0% fan (6): min +5.5% · med +8.2% · max +14.5% | +14.8% / +16.5% fan (6): min +4.1% · med +8.0% · max +14.8% | +14.8% / +15.0% fan (6): min +5.5% · med +8.0% · max +14.8% | +14.5% / +15.0% fan (6): min +5.5% · med +8.2% · max +14.5% | +14.5% / +15.0% fan (6): min +5.5% · med +8.2% · max +14.5% | +14.2% / +16.5% fan (6): min +5.7% · med +9.1% · max +14.2% | +13.2% / +14.6% fan (6): min +7.6% · med +9.5% · max +13.2% | +16.7% / +18.5% fan (6): min +5.6% · med +9.5% · max +16.7% | +16.4% / +16.9% fan (6): min +7.3% · med +9.8% · max +16.4% | +24.9% / +31.4% fan (6): min -4.3% · med +7.9% · max +24.9% |
| +12.5% to +17.5% | 4 | +14.6% | +15.0% / +8.8% fan (6): min +15.0% · med +23.1% · max +30.6% | +14.8% / +14.6% fan (6): min +13.3% · med +14.4% · max +15.3% | +5.6% / +5.6% fan (6): min +4.9% · med +5.5% · max +6.0% | +14.3% / +13.7% fan (6): min +14.3% · med +15.6% · max +17.5% | +14.2% / +13.6% fan (6): min +14.2% · med +15.4% · max +17.1% | +14.2% / +13.6% fan (6): min +14.2% · med +15.4% · max +17.1% | +11.1% / +11.6% fan (6): min +11.1% · med +12.2% · max +12.5% | +10.7% / +11.3% fan (6): min +10.7% · med +11.5% · max +12.3% | +14.4% / +14.6% fan (6): min +14.4% · med +15.2% · max +15.9% | +14.4% / +14.4% fan (6): min +14.3% · med +14.6% · max +15.3% | +14.4% / +12.8% fan (6): min +14.4% · med +17.2% · max +19.8% | +14.3% / +12.6% fan (6): min +14.3% · med +16.8% · max +19.2% | +14.3% / +12.6% fan (6): min +14.3% · med +17.1% · max +19.2% | +14.3% / +12.6% fan (6): min +14.3% · med +17.2% · max +19.2% | +14.3% / +12.6% fan (6): min +14.3% · med +16.8% · max +19.2% | +14.3% / +12.6% fan (6): min +14.3% · med +16.8% · max +19.2% | +12.7% / +11.1% fan (6): min +12.7% · med +14.1% · max +15.7% | +11.9% / +10.6% fan (6): min +11.9% · med +13.2% · max +14.2% | +14.5% / +13.6% fan (6): min +14.5% · med +16.8% · max +18.5% | +14.5% / +13.3% fan (6): min +14.5% · med +16.0% · max +17.2% | +15.0% / +8.8% fan (6): min +15.0% · med +23.1% · max +30.6% |
| +17.5% to +22.5% | 6 | +20.5% | +42.4% / +38.1% fan (5): min -27.5% · med +33.8% · max +45.5% | +20.8% / +20.5% fan (5): min +18.4% · med +19.5% · max +20.8% | +5.2% / +5.2% fan (5): min +4.7% · med +7.0% · max +12.5% | +22.9% / +23.1% fan (5): min +11.5% · med +22.4% · max +22.9% | +22.3% / +22.4% fan (5): min +11.6% · med +21.3% · max +22.3% | +22.3% / +22.4% fan (5): min +11.6% · med +21.3% · max +22.3% | +14.8% / +15.6% fan (5): min +14.2% · med +14.8% · max +18.7% | +13.4% / +14.3% fan (5): min +12.8% · med +14.5% · max +17.0% | +18.2% / +18.8% fan (5): min +17.4% · med +19.5% · max +21.1% | +17.3% / +17.8% fan (5): min +15.9% · med +17.9% · max +20.2% | +26.3% / +25.8% fan (5): min +4.6% · med +24.2% · max +26.7% | +25.1% / +24.6% fan (5): min +4.8% · med +22.6% · max +25.1% | +26.1% / +25.6% fan (5): min +4.8% · med +24.2% · max +26.1% | +25.1% / +24.5% fan (5): min +4.8% · med +24.2% · max +25.1% | +25.1% / +24.6% fan (5): min +4.8% · med +22.6% · max +25.1% | +25.1% / +24.6% fan (5): min +4.8% · med +22.6% · max +25.1% | +19.2% / +19.6% fan (5): min +6.8% · med +19.2% · max +23.4% | +16.4% / +17.4% fan (5): min +7.3% · med +16.7% · max +20.4% | +22.3% / +22.2% fan (5): min +11.5% · med +21.7% · max +25.4% | +19.4% / +20.5% fan (5): min +12.0% · med +19.4% · max +22.8% | +42.4% / +38.1% fan (5): min -27.5% · med +33.8% · max +45.5% |
| +22.5% to +27.5% | 2 | +24.9% | +27.4% / +27.4% fan (6): min +27.4% · med +39.6% · max +73.1% | +24.9% / +24.9% fan (6): min +23.3% · med +25.5% · max +27.3% | +5.1% / +5.1% fan (6): min +3.8% · med +4.9% · max +5.6% | +25.3% / +25.3% fan (6): min +23.7% · med +27.5% · max +32.8% | +25.3% / +25.3% fan (6): min +23.4% · med +27.0% · max +31.2% | +25.3% / +25.3% fan (6): min +23.4% · med +27.0% · max +31.3% | +12.6% / +12.6% fan (6): min +12.6% · med +14.7% · max +19.1% | +11.8% / +11.8% fan (6): min +11.8% · med +13.2% · max +17.2% | +15.3% / +15.3% fan (6): min +15.3% · med +17.2% · max +21.9% | +14.7% / +14.7% fan (6): min +14.7% · med +16.0% · max +20.8% | +25.7% / +25.7% fan (6): min +24.4% · med +29.6% · max +39.8% | +25.6% / +25.6% fan (6): min +24.0% · med +28.7% · max +37.8% | +25.5% / +25.5% fan (6): min +24.4% · med +29.2% · max +38.6% | +25.6% / +25.6% fan (6): min +24.4% · med +28.7% · max +38.6% | +25.6% / +25.6% fan (6): min +24.0% · med +28.7% · max +37.8% | +25.6% / +25.6% fan (6): min +24.0% · med +28.7% · max +37.8% | +15.2% / +15.2% fan (6): min +15.2% · med +19.1% · max +28.5% | +13.8% / +13.8% fan (6): min +13.8% · med +16.3% · max +24.5% | +17.5% / +17.5% fan (6): min +17.5% · med +21.2% · max +30.8% | +16.3% / +16.3% fan (6): min +16.3% · med +18.9% · max +27.9% | +27.4% / +27.4% fan (6): min +27.4% · med +39.6% · max +73.1% |
| +27.5% to +32.5% | 3 | +30.2% | +86.8% / +64.0% fan (6): min +21.1% · med +64.9% · max +86.8% | +30.4% / +30.2% fan (6): min +29.4% · med +30.8% · max +31.5% | +5.0% / +4.8% fan (6): min +5.0% · med +6.4% · max +7.6% | +40.1% / +35.3% fan (6): min +29.2% · med +35.9% · max +40.1% | +39.5% / +34.9% fan (6): min +29.9% · med +35.0% · max +39.5% | +39.5% / +34.9% fan (6): min +29.9% · med +35.0% · max +39.5% | +21.3% / +17.5% fan (6): min +12.0% · med +20.6% · max +21.7% | +20.0% / +17.1% fan (6): min +11.2% · med +17.9% · max +21.6% | +24.0% / +20.6% fan (6): min +14.7% · med +23.2% · max +25.9% | +22.9% / +20.3% fan (6): min +14.1% · med +21.3% · max +25.9% | +48.4% / +40.3% fan (6): min +27.8% · med +41.8% · max +48.4% | +47.3% / +39.7% fan (6): min +28.9% · med +39.3% · max +47.3% | +47.3% / +39.5% fan (6): min +27.8% · med +41.5% · max +47.3% | +47.3% / +39.7% fan (6): min +28.9% · med +41.5% · max +47.3% | +47.3% / +39.7% fan (6): min +28.9% · med +39.3% · max +47.3% | +47.3% / +39.7% fan (6): min +28.9% · med +39.3% · max +47.3% | +32.9% / +25.7% fan (6): min +13.5% · med +27.4% · max +32.9% | +30.7% / +25.0% fan (6): min +12.1% · med +24.0% · max +32.9% | +35.1% / +28.2% fan (6): min +15.8% · med +29.8% · max +36.4% | +33.1% / +27.7% fan (6): min +14.8% · med +27.1% · max +36.5% | +86.8% / +64.0% fan (6): min +21.1% · med +64.9% · max +86.8% |
| +32.5% to +37.5% | 2 | +35.5% | +79.6% / +79.6% fan (6): min +28.1% · med +55.2% · max +79.6% | +35.5% / +35.5% fan (6): min +34.9% · med +35.5% · max +37.1% | +5.2% / +5.2% fan (6): min +3.2% · med +4.9% · max +7.8% | +42.1% / +42.1% fan (6): min +32.9% · med +39.1% · max +42.1% | +42.1% / +42.1% fan (6): min +33.0% · med +38.9% · max +42.1% | +42.1% / +42.1% fan (6): min +33.0% · med +38.9% · max +42.1% | +21.2% / +21.2% fan (6): min +15.0% · med +18.0% · max +21.2% | +20.7% / +20.7% fan (6): min +15.0% · med +17.0% · max +20.7% | +23.9% / +23.9% fan (6): min +17.4% · med +20.6% · max +23.9% | +23.7% / +23.7% fan (6): min +17.4% · med +19.8% · max +23.7% | +48.7% / +48.7% fan (6): min +32.0% · med +41.8% · max +48.7% | +48.7% / +48.7% fan (6): min +32.2% · med +41.8% · max +48.7% | +48.7% / +48.7% fan (6): min +32.2% · med +41.8% · max +48.7% | +48.7% / +48.7% fan (6): min +32.2% · med +41.8% · max +48.7% | +48.7% / +48.7% fan (6): min +32.2% · med +41.8% · max +48.7% | +48.7% / +48.7% fan (6): min +32.2% · med +41.8% · max +48.7% | +31.5% / +31.5% fan (6): min +15.9% · med +24.3% · max +31.5% | +30.8% / +30.8% fan (6): min +15.9% · med +22.9% · max +30.8% | +33.7% / +33.7% fan (6): min +17.9% · med +26.5% · max +33.7% | +33.4% / +33.4% fan (6): min +17.8% · med +25.5% · max +33.4% | +79.6% / +79.6% fan (6): min +28.1% · med +55.2% · max +79.6% |
| +37.5% to +42.5% | 1 | +41.0% | +94.4% / +94.4% fan (6): min +94.4% · med +119.9% · max +125.6% | +41.0% / +41.0% fan (6): min +38.2% · med +40.5% · max +41.0% | +4.6% / +4.6% fan (6): min +4.5% · med +5.7% · max +6.9% | +49.0% / +49.0% fan (6): min +49.0% · med +50.9% · max +53.2% | +49.0% / +49.0% fan (6): min +47.6% · med +48.8% · max +50.5% | +49.0% / +49.0% fan (6): min +47.6% · med +49.1% · max +50.5% | +30.7% / +30.7% fan (6): min +26.7% · med +28.1% · max +30.7% | +30.7% / +30.7% fan (6): min +19.2% · med +24.1% · max +30.7% | +32.5% / +32.5% fan (6): min +29.6% · med +30.6% · max +32.5% | +32.4% / +32.4% fan (6): min +22.7% · med +26.9% · max +32.4% | +57.0% / +57.0% fan (6): min +57.0% · med +63.1% · max +66.0% | +57.0% / +57.0% fan (6): min +55.7% · med +56.8% · max +62.8% | +57.0% / +57.0% fan (6): min +57.0% · med +62.9% · max +64.3% | +57.0% / +57.0% fan (6): min +55.7% · med +57.8% · max +62.8% | +57.0% / +57.0% fan (6): min +55.7% · med +56.8% · max +62.8% | +57.0% / +57.0% fan (6): min +55.7% · med +56.8% · max +62.8% | +42.0% / +42.0% fan (6): min +41.9% · med +43.4% · max +45.3% | +42.0% / +42.0% fan (6): min +29.1% · med +35.6% · max +44.3% | +43.4% / +43.4% fan (6): min +43.4% · med +45.8% · max +47.5% | +43.4% / +43.4% fan (6): min +32.5% · med +38.1% · max +46.3% | +94.4% / +94.4% fan (6): min +94.4% · med +119.9% · max +125.6% |
| +42.5% to +47.5% | 2 | +44.1% | +155.4% / +155.4% fan (6): min +91.5% · med +131.1% · max +271.3% | +44.1% / +44.1% fan (6): min +44.1% · med +44.7% · max +46.1% | +4.4% / +4.4% fan (6): min +2.2% · med +4.7% · max +7.4% | +60.8% / +60.8% fan (6): min +51.1% · med +58.7% · max +78.4% | +56.3% / +56.3% fan (6): min +51.1% · med +54.9% · max +71.0% | +56.3% / +56.3% fan (6): min +51.1% · med +54.9% · max +71.0% | +33.4% / +33.4% fan (6): min +25.3% · med +32.0% · max +48.3% | +24.6% / +24.6% fan (6): min +23.8% · med +27.1% · max +35.3% | +37.0% / +37.0% fan (6): min +27.6% · med +34.9% · max +51.2% | +29.3% / +29.3% fan (6): min +26.4% · med +30.6% · max +37.9% | +77.5% / +77.5% fan (6): min +58.2% · med +71.5% · max +112.4% | +69.6% / +69.6% fan (6): min +58.2% · med +66.1% · max +99.8% | +73.6% / +73.6% fan (6): min +58.2% · med +71.5% · max +99.8% | +73.6% / +73.6% fan (6): min +58.2% · med +66.1% · max +99.8% | +69.6% / +69.6% fan (6): min +58.2% · med +66.1% · max +99.8% | +69.6% / +69.6% fan (6): min +58.2% · med +66.1% · max +99.8% | +54.9% / +54.9% fan (6): min +36.7% · med +49.3% · max +87.6% | +39.2% / +39.2% fan (6): min +36.6% · med +40.5% · max +64.9% | +57.9% / +57.9% fan (6): min +38.3% · med +51.4% · max +90.1% | +44.1% / +44.1% fan (6): min +38.4% · med +43.9% · max +66.4% | +155.4% / +155.4% fan (6): min +91.5% · med +131.1% · max +271.3% |
| +47.5% to +52.5% | 3 | +50.4% | +146.8% / +144.2% fan (4): min +67.4% · med +127.3% · max +188.4% | +51.0% / +50.4% fan (4): min +49.0% · med +50.3% · max +51.9% | +6.4% / +6.4% fan (4): min +3.0% · med +4.8% · max +6.4% | +65.5% / +64.5% fan (4): min +51.7% · med +62.9% · max +69.1% | +65.5% / +61.8% fan (4): min +51.5% · med +61.7% · max +65.5% | +65.5% / +61.8% fan (4): min +51.5% · med +61.7% · max +65.5% | +32.3% / +33.4% fan (4): min +21.4% · med +30.0% · max +35.7% | +32.3% / +29.6% fan (4): min +20.6% · med +27.2% · max +32.3% | +34.6% / +35.5% fan (4): min +24.4% · med +32.0% · max +39.0% | +34.6% / +31.3% fan (4): min +23.8% · med +29.8% · max +34.6% | +79.8% / +78.5% fan (4): min +54.5% · med +74.3% · max +90.2% | +79.8% / +73.9% fan (4): min +54.1% · med +72.9% · max +82.7% | +79.8% / +75.3% fan (4): min +54.5% · med +72.9% · max +82.7% | +79.8% / +73.9% fan (4): min +54.1% · med +72.9% · max +82.7% | +79.8% / +73.9% fan (4): min +54.1% · med +72.9% · max +82.7% | +79.8% / +73.9% fan (4): min +54.1% · med +72.9% · max +82.7% | +52.5% / +53.0% fan (4): min +29.5% · med +47.2% · max +62.7% | +52.4% / +46.0% fan (4): min +28.0% · med +44.4% · max +52.4% | +54.5% / +54.7% fan (4): min +31.9% · med +48.8% · max +65.4% | +54.5% / +47.1% fan (4): min +31.1% · med +46.7% · max +54.5% | +146.8% / +144.2% fan (4): min +67.4% · med +127.3% · max +188.4% |
| +52.5% to +57.5% | 1 | +54.7% | +150.5% / +150.5% fan (3): min +80.9% · med +146.8% · max +150.5% | +54.7% / +54.7% fan (3): min +53.4% · med +54.7% · max +56.3% | +7.8% / +7.8% fan (3): min +6.8% · med +7.8% · max +7.8% | +69.1% / +69.1% fan (3): min +60.0% · med +68.0% · max +69.1% | +69.1% / +69.1% fan (3): min +59.3% · med +68.0% · max +69.1% | +69.1% / +69.1% fan (3): min +59.3% · med +68.0% · max +69.1% | +35.6% / +35.6% fan (3): min +23.0% · med +32.8% · max +35.6% | +35.6% / +35.6% fan (3): min +20.9% · med +33.0% · max +35.6% | +37.8% / +37.8% fan (3): min +25.0% · med +35.1% · max +37.8% | +37.9% / +37.9% fan (3): min +22.8% · med +35.2% · max +37.9% | +83.4% / +83.4% fan (3): min +63.7% · med +82.5% · max +83.4% | +83.4% / +83.4% fan (3): min +62.6% · med +82.5% · max +83.4% | +83.4% / +83.4% fan (3): min +62.6% · med +82.5% · max +83.4% | +83.4% / +83.4% fan (3): min +62.6% · med +82.5% · max +83.4% | +83.4% / +83.4% fan (3): min +62.6% · med +82.5% · max +83.4% | +83.4% / +83.4% fan (3): min +62.6% · med +82.5% · max +83.4% | +55.8% / +55.8% fan (3): min +33.2% · med +53.0% · max +55.8% | +55.8% / +55.8% fan (3): min +29.4% · med +53.0% · max +55.8% | +57.7% / +57.7% fan (3): min +34.8% · med +54.9% · max +57.7% | +57.8% / +57.8% fan (3): min +31.3% · med +54.9% · max +57.8% | +150.5% / +150.5% fan (3): min +80.9% · med +146.8% · max +150.5% |
| Overall | 88 | +1745.9% | +137555.1% | +1694.3% | +29.9% | +4816.6% | +3801.8% | +3801.8% | +2215.7% | +1571.4% | +2319.8% | +1686.4% | +11560.0% | +7950.0% | +10210.3% | +8870.6% | +7950.0% | +7950.0% | +7348.3% | +4364.5% | +7381.8% | +4524.5% | +134276.3% |
Premium yield per cycle (SPEC §6.8)
For each CC cycle: premium received ÷ value of the stock being covered (n_contracts × 100 × spot_at_sale) × 100. Strike-comparable yield, scale-invariant — depends only on strike distance, DTE and IV, not on portfolio size or year. With a monthly schedule this is a per-month yield; multiply by 12 for a rough annualized read (ignores compounding and assignment losses). The bottom row shows realized cashflow extremes in USD (in target_cashflow mode integer-contract rounding can push a single cycle past the cited target on high-IV days). Histograms below the table show the per-cycle USD distribution for each strategy side-by-side.
| Stat | stockonly full coverage | stock_only_collar_05 full coverage | 85_15 full coverage | 85_15_trim full coverage | 85_15_band_15_05 full coverage | 85_15_cc05 full coverage | 85_15_cc05_trim full coverage | 85_15_cc10 full coverage | 85_15_cc10_trim full coverage | 70_30 full coverage | 70_30_trim full coverage | 70_30_band_30_20 full coverage | 70_30_band_30_15 full coverage | 70_30_band_30_10 full coverage | 70_30_band_30_05 full coverage | 70_30_cc05 full coverage | 70_30_cc05_trim full coverage | 70_30_cc10 full coverage | 70_30_cc10_trim full coverage | 0_100 full coverage |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Median % | — | 4.08 | — | — | — | 4.08 | 4.08 | 2.53 | 2.53 | — | — | — | — | — | — | 4.08 | 4.08 | 2.53 | 2.53 | — |
| Mean % | — | 4.47 | — | — | — | 4.47 | 4.47 | 2.95 | 2.95 | — | — | — | — | — | — | 4.47 | 4.47 | 2.95 | 2.95 | — |
| p25 / p75 % | — | 3.29 / 5.33 | — | — | — | 3.29 / 5.33 | 3.29 / 5.33 | 1.89 / 3.41 | 1.89 / 3.41 | — | — | — | — | — | — | 3.29 / 5.33 | 3.29 / 5.33 | 1.89 / 3.41 | 1.89 / 3.41 | — |
| Min / Max % | — | 1.62 / 9.55 | — | — | — | 1.62 / 9.55 | 1.62 / 9.55 | 0.67 / 7.55 | 0.67 / 7.55 | — | — | — | — | — | — | 1.62 / 9.55 | 1.62 / 9.55 | 0.67 / 7.55 | 0.67 / 7.55 | — |
| Min / Max premium USD | — | 7,362 / 59,677 | — | — | — | 7,611 / 666,982 | 7,362 / 491,460 | 2,973 / 604,851 | 2,871 / 460,027 | — | — | — | — | — | — | 6,402 / 1,779,788 | 6,082 / 1,095,254 | 2,519 / 1,533,424 | 2,387 / 1,002,405 | — |
| Net premium after put cost USD | — | -50,984 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| # CC cycles | 0 | 88 | 0 | 0 | 0 | 88 | 88 | 88 | 88 | 0 | 0 | 0 | 0 | 0 | 0 | 88 | 88 | 88 | 88 | 0 |
CC premium per cycle (full period — does not respond to the period selector).
stockonly
no CC cycles
85_15
no CC cycles
85_15_trim
no CC cycles
85_15_band_15_05
no CC cycles
70_30
no CC cycles
70_30_trim
no CC cycles
70_30_band_30_20
no CC cycles
70_30_band_30_15
no CC cycles
70_30_band_30_10
no CC cycles
70_30_band_30_05
no CC cycles
0_100
no CC cycles
Equity curves
Log-scale USD NAV. Green shading marks days TSLA closed above its 10-day MA — the X3 sleeve is leveraged during these regimes.
·Resolution:
Regime behavior (SPEC §6.10)
Aggregates each strategy's annualized return across all windows of the same regime tag (see config/periods.yaml). Each (strategy × period) is its own fresh-start backtest from $500k. Cell format: median CAGR % / mean CAGR % across the n windows in that tag.
| Regime tag | stockonly | stock_only_collar_05 | 85_15 | 85_15_trim | 85_15_band_15_05 | 85_15_cc05 | 85_15_cc05_trim | 85_15_cc10 | 85_15_cc10_trim | 70_30 | 70_30_trim | 70_30_band_30_20 | 70_30_band_30_15 | 70_30_band_30_10 | 70_30_band_30_05 | 70_30_cc05 | 70_30_cc05_trim | 70_30_cc10 | 70_30_cc10_trim | 0_100 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Full real-options window (n=1) | +48.3% / +48.3% | +3.9% / +3.9% | +74.0% / +74.0% | +67.7% / +67.7% | +67.7% / +67.7% | +50.8% / +50.8% | +42.9% / +42.9% | +51.6% / +51.6% | +44.1% / +44.1% | +99.8% / +99.8% | +88.4% / +88.4% | +96.1% / +96.1% | +92.3% / +92.3% | +88.4% / +88.4% | +88.4% / +88.4% | +82.1% / +82.1% | +67.3% / +67.3% | +82.2% / +82.2% | +68.2% / +68.2% | +201.3% / +201.3% |
| Flat (sideways with structure) (n=2) | -0.3% / -0.3% | -2.9% / -2.9% | +14.3% / +14.3% | +11.4% / +11.4% | +11.4% / +11.4% | +14.1% / +14.1% | +9.8% / +9.8% | +12.4% / +12.4% | +8.4% / +8.4% | +29.1% / +29.1% | +23.9% / +23.9% | +27.1% / +27.1% | +27.7% / +27.7% | +23.9% / +23.9% | +23.9% / +23.9% | +30.9% / +30.9% | +23.4% / +23.4% | +29.0% / +29.0% | +22.1% / +22.1% | +94.1% / +94.1% |
| Round-trip up (peak in middle, ends near start) (n=2) | +1.5% / +1.5% | -0.4% / -0.4% | +15.1% / +15.1% | +15.0% / +15.0% | +15.0% / +15.0% | +19.8% / +19.8% | +19.7% / +19.7% | +16.7% / +16.7% | +16.3% / +16.3% | +30.2% / +30.2% | +30.2% / +30.2% | +28.7% / +28.7% | +30.2% / +30.2% | +30.2% / +30.2% | +30.2% / +30.2% | +37.3% / +37.3% | +37.1% / +37.1% | +34.0% / +34.0% | +33.5% / +33.5% | +134.5% / +134.5% |
| Round-trip down / V-shape (trough in middle, ends near start) (n=3) | +1.4% / +2.9% | -3.0% / +4.9% | +19.4% / +21.7% | +17.9% / +20.0% | +17.9% / +20.0% | +26.0% / +26.0% | +25.6% / +23.9% | +22.7% / +25.9% | +22.4% / +23.8% | +29.3% / +44.1% | +26.7% / +41.2% | +26.7% / +43.5% | +26.7% / +41.2% | +26.7% / +41.2% | +26.7% / +41.2% | +43.6% / +48.3% | +40.7% / +44.7% | +42.9% / +47.3% | +39.8% / +43.8% | +67.5% / +224.9% |
| Up strong (>+60% sustained rally) (n=2) | +113.8% / +113.8% | +17.5% / +17.5% | +160.3% / +160.3% | +151.4% / +151.4% | +151.4% / +151.4% | +102.9% / +102.9% | +93.6% / +93.6% | +108.0% / +108.0% | +98.6% / +98.6% | +209.6% / +209.6% | +192.7% / +192.7% | +200.2% / +200.2% | +192.7% / +192.7% | +192.7% / +192.7% | +192.7% / +192.7% | +158.9% / +158.9% | +140.1% / +140.1% | +163.3% / +163.3% | +144.6% / +144.6% | +430.8% / +430.8% |
| Down strong (<-35% sustained drop) (n=2) | -50.0% / -50.0% | -22.4% / -22.4% | -39.0% / -39.0% | -39.7% / -39.7% | -39.7% / -39.7% | -34.7% / -34.7% | -35.4% / -35.4% | -37.5% / -37.5% | -38.3% / -38.3% | -25.8% / -25.8% | -27.1% / -27.1% | -26.6% / -26.6% | -27.1% / -27.1% | -27.1% / -27.1% | -27.1% / -27.1% | -21.2% / -21.2% | -22.8% / -22.8% | -24.2% / -24.2% | -25.4% / -25.4% | +73.1% / +73.1% |
| Ends higher (+20% to +60%) (n=5) | +32.7% / +35.3% | +8.0% / +4.9% | +50.8% / +50.4% | +46.5% / +48.8% | +46.5% / +48.8% | +36.1% / +38.0% | +31.8% / +35.6% | +40.0% / +38.9% | +36.5% / +37.3% | +62.1% / +67.2% | +54.8% / +64.6% | +63.7% / +66.9% | +54.8% / +64.6% | +54.8% / +64.6% | +54.8% / +64.6% | +48.4% / +57.0% | +40.3% / +54.2% | +46.2% / +58.0% | +39.2% / +55.0% | +95.1% / +186.9% |
| Ends lower (-10% to -35%) (n=2) | -18.8% / -18.8% | +0.8% / +0.8% | -9.1% / -9.1% | -11.0% / -11.0% | -11.0% / -11.0% | +1.7% / +1.7% | -1.0% / -1.0% | -0.2% / -0.2% | -2.8% / -2.8% | +0.6% / +0.6% | -2.6% / -2.6% | +2.1% / +2.1% | -2.6% / -2.6% | -2.6% / -2.6% | -2.6% / -2.6% | +10.6% / +10.6% | +6.2% / +6.2% | +8.6% / +8.6% | +4.2% / +4.2% | +45.8% / +45.8% |
| Multi-oscillation (≥4 sign flips, ends near start) (n=1) | +5.3% / +5.3% | +8.2% / +8.2% | +11.3% / +11.3% | +8.7% / +8.7% | +8.7% / +8.7% | +17.1% / +17.1% | +14.4% / +14.4% | +18.9% / +18.9% | +16.2% / +16.2% | +16.5% / +16.5% | +12.2% / +12.2% | +15.8% / +15.8% | +12.2% / +12.2% | +12.2% / +12.2% | +12.2% / +12.2% | +22.1% / +22.1% | +16.7% / +16.7% | +23.1% / +23.1% | +18.4% / +18.4% | +28.7% / +28.7% |
| Low drawdown (smooth rallies, max DD ≤25%) (n=3) | +180.7% / +310.7% | +29.2% / +25.5% | +245.0% / +419.3% | +230.5% / +410.2% | +230.5% / +410.2% | +177.6% / +183.7% | +155.4% / +174.0% | +184.2% / +201.8% | +162.0% / +192.0% | +312.9% / +547.3% | +286.5% / +529.9% | +286.5% / +529.9% | +286.5% / +529.9% | +286.5% / +529.9% | +286.5% / +529.9% | +261.1% / +297.0% | +213.7% / +274.7% | +266.7% / +316.7% | +227.0% / +298.4% | +643.6% / +1441.0% |
| Really bad x3 periods (x3 peak-DD ≥85%, asymmetric to stock) (n=4) | -14.8% / -4.8% | -9.8% / -7.1% | -7.3% / +4.2% | -9.3% / +1.6% | -9.3% / +1.6% | +9.2% / +9.0% | +6.6% / +5.5% | +8.8% / +7.2% | +6.7% / +4.6% | -0.2% / +12.6% | -3.7% / +8.1% | +0.9% / +13.2% | -1.8% / +9.7% | -3.7% / +8.1% | -3.7% / +8.1% | +14.6% / +17.9% | +9.7% / +11.6% | +14.2% / +16.3% | +9.9% / +11.1% | +27.4% / +41.0% |