Wheel on Paper · Rulebook v3.5

Portfolio dashboard

Session 21 · 2 October 2026 · Live-session report · USD

✦ AI-Powered Strategy

Wheel strategy is applied with AI based algorithms.

ℹ Paper Trading

This is a paper trading practice for education purposes only.

● REALTIME quotes verified · FOUR FILLS

Net liquidation value

$1,016,020.65

+$2,967.70 vs 1 Oct

Free cash

$248,115.65

$5,659.26 above buffer floor

Short-put capital reserved

$756,750

74.48% of NAV · 11 open puts

Deployable headroom

$16,814

Buffer permits a new strike of only about $56

Portfolio performance · since inception

+1.60%

$1,000,000 implied starting NAV → $1,016,020.65 ending NAV · gain $16,020.65

The source reports +$16,020.65 (+1.60%) since inception, implying a $1,000,000 starting baseline. The baseline date is not explicitly stated, so no dated performance period is asserted.

Benchmark performance

SPY

+0.76%

763.99 → 769.78

QQQ

+1.08%

742.03 → 750.03

Portfolio

+1.60%

Since-inception; baseline date unspecified

SPY/QQQ daily price changes from 1 Oct to 2 Oct using the prior dashboard's 1 Oct values and this book-state's intraday 2 Oct values. Not a same-period cumulative comparison; excludes dividends.

Market regime

NEUTRAL

Full size · no override

SPY / 50-DMA769.78 / 763.7050 (+0.80%)

SPY / 200-DMA769.78 / 720.4717 (+6.84%)

QQQ / 50-DMA750.03 / 716.8260 (+4.63%)

QQQ / 200-DMA750.03 / 668.6063 (+12.18%)

SPY's margin above its 50-DMA widened from +0.12% to +0.80%; regime verdict is unchanged when the partial bar is excluded.

Volatility & buffer

VIX / VIX* (3-session)15.68 / 16.14

VIX 5-session change+5.4%

VIX9D / VIX3M12.78 / 18.26

Term structureContango +5.48 pts

Buffer floor$242,456.39

Free cash above floor$5,659.26

Deployable headroom$16,814.26

Buffer is the binding constraint. Run §7.1 before pricing any new chain.

Sentiment · verified neutral

NEUTRAL

Trend conditionPASS · +0.80% margin

Volatility conditionPASS

CNN Fear & Greed27 · Fear

S&P breadth above 50-DMA23.0% · FAIL

Breadth dated 1 Oct (one day stale). External breadth/fear-greed condition failed for the fifth consecutive session. Neutral buffer constants and 60% deployment target apply.

Open short puts · management view

11 positions · $756,750 reserved · live midpoint marks

Session gate passed: task fired at 17:03 UTC / 13:03 ET, inside RTH. REALTIME status was re-verified immediately before all four fills. No actions deferred.

Ticker	Expiry	Contract	Qty	Reserved	Credit	Mark	% max profit	Delta	P(assign)	OTM	Spot	Management note
DELL	Oct 16 '26	520P	1	$52,000	13.05	7.550	+42.1%	-0.203	23.6%	8.2%	566.27	Nearest take; 14 DTE, 7.9 pts from 50% take
CBRS	Nov 20 '26	170P	5	$85,000	8.05	18.350	−128.0%	-0.444	55.3%	−0.4% ITM	169.32	ITM; break-even 161.95; no stop-loss rule
SNOW	Nov 20 '26	310P	2	$62,000	12.75	10.700	+16.1%	-0.257	31.9%	9.2%	341.57	Hold
HUM	Nov 20 '26	320P	3	$96,000	11.30	7.950	+29.6%	-0.158	21.5%	17.1%	386.06	Hold; 49.1% spread, soft mark
ANET	Nov 20 '26	180P	5	$90,000	6.50	5.250	+19.2%	-0.206	26.6%	12.7%	206.23	Hold
APH	Nov 20 '26	77.5P	1	$7,750	3.05	2.025	+33.6%	-0.212	26.5%	11.2%	87.24	Hold
APH	Nov 20 '26	80P	4	$32,000	2.67	2.700	−1.1%	-0.267	32.7%	8.3%	87.24	NEW · earnings exception
FTNT	Nov 20 '26	160P	3	$48,000	6.05	6.100	−0.8%	-0.240	31.2%	11.6%	180.93	NEW · earnings exception
NET	Dec 18 '26	300P	3	$90,000	17.00	16.875	+0.7%	-0.236	33.6%	14.9%	352.70	Hold
RBRK	Jan 15 '27	95P	10	$95,000	7.15	5.000	+30.1%	-0.194	29.8%	19.8%	118.51	Hold
VLO	Jan 15 '27	330P	3	$99,000	16.95	11.800	+30.4%	-0.168	24.5%	19.3%	408.68	Hold

CBRS: $0.68 in the money, delta −0.444 and −128.0% of maximum profit (−$5,150). Break-even is $161.95; spot remains 4.4% above break-even. The 21-DTE date is 30 Oct; the roll-down trigger is |δ| > 0.45 then. No stop-loss is defined.

DELL: +42.1% of max profit and 14 DTE; it is 7.9 percentage points from the 50% take. Closing would free $52,000.

New earnings-exception exposure: FTNT ×3 and APH ×4 reserve $80,000 (7.87% NAV). FTNT reports 29 Oct and APH 28 Oct, both before their 20 Nov expiry.

Cash & deployment

Total cash$1,004,865.65

Reserved$756,750.00

Free cash$248,115.65

Buffer floor$242,456.39

Deployable amount$773,564.26

60% target of NAV$609,612.39

Reserved above target14.48 pts / $147,137.61

Sector cap$464,138.55

Per-name cap$101,602.07

Max deployable$896,750 · 88.26% NAV

Sector concentration

Software · SNOW, RBRK, NET, FTNT$295,000 · 29.04% NAV

AI infra / Power · DELL, ANET$142,000 · 13.98% NAV

Semis / Components · CBRS, APH ×2$124,750 · 12.28% NAV

Energy · VLO + COP LEAPS$123,750 · 12.18% NAV

Healthcare · HUM$96,000 · 9.45% NAV

Financials · MET LEAPS$23,850 · 2.35% NAV

No sector is near the 60% cap; Software is the largest.

LEAPS · COP Dec 17, 2027 120 Call ×10

−$3,425.00

−13.84% unrealised · mark 21.325 vs entry premium 24.75

Current spot$126.76

Fixed take / stop$142.274 / $116.406

Days held8 of 14

14-day time-exit date08 Oct 2026

Time exit statusHOLD_NOT_YET

From 8 Oct, if neither fixed level has been reached and option mid is strictly above 24.75, sell to close. Current mark needs +16.0%; today it is still underwater.

LEAPS · MET Dec 17, 2027 87.5 Call ×15

−$225.00

Entry 2 Oct · mark 15.750 vs paid 15.90 · entry slippage only

Current spot$94.82 intraday

Take / stop (provisional)$104.302 / $85.338

DTE / days held441 / 0

14-day mark16 Oct 2026

Required next run: re-strike ±10% levels from MET's final 2 Oct closing price. Current levels are provisional and must then remain fixed.

Universe funnel · 50-name owner list

Supplied50

Pass attrition36

Fail test 1 only7

Fail test 2 only6

Fail both1

Unknown / errors0 / 0

Full 50-name pass; 0 skipped, 0 unknown. REGN flipped FAIL → PASS on the partial bar only and fails when that bar is excluded.

Live LEAPS triggersMET, REGN, MPLX, ELV

New entriesFTNT 160P ×3 · APH 80P ×4

Blocked from new entriesCBRS, SNOW, DELL, NET, RBRK

P&L summary

Realised gross$18,666.00

Realised net (closed cycles)$18,468.20

Unrealised−$2,402.00

Premium received / paid back$90,745 / $37,036

LEAPS premium paid$48,600.00

Commissions$243.35

Total P&L+$16,020.65

Closed cycles19 · +$18,468.20 net · none assigned

AMD Oct-16 560P ×1 closed at 80.9% of max profit: +$1,090 gross, +$1,088 net; $56,000 capital freed. MET LEAPS opened.

Operational flags

Next-session must-do: re-strike MET LEAPS take/stop from 2 Oct final close; current levels are provisional.
Buffer extremely tight: only $5,659.26 free cash above floor and $16,814.26 deployable headroom.
DELL nearest take: +42.1% at 14 DTE; a close frees $52,000.
CBRS: ITM for second session; delta −0.444, only 0.006 below the 0.45 roll-down trigger at 21 DTE on 30 Oct. No stop-loss.
Earnings exception: FTNT reports 29 Oct and APH 28 Oct; $80,000 reserved through the earnings cluster.
Trade log: authoritative file is claude/trade-log-part6.md; parts 1–5 frozen. Rotate to part 7 past ~60 KB.
Schedule: task fired at 17:03 UTC against 17:02 UTC slot; only one minute late. Question 48 remains unresolved.
VIX history: use exchange: "CBOE" on index history calls.

Next-session priorities · Mon 5 Oct 2026

No deferred actions

1 · Re-strike MET LEAPS levels

Pull MET's final 2 Oct close. Recompute fixed ±10% take/stop from that close and replace provisional 104.302 / 85.338.

2 · Run management gates

Check DELL for §6 take; watch CBRS delta and break-even. COP is day 8/14; time exit becomes active 8 Oct.

3 · Buffer before any chain

Free cash is only $5,659.26 above its floor. Current deployable headroom is $16,814.26; a new strike is capped at roughly $56. No new chain before the buffer test.

4 · Fresh session calculations

Recompute regime, VIX, sentiment, attrition and all entry gates from scratch. Keep the earnings-exception count and $80,000 reserved visible.

Next-session checklist · Monday 5 Oct 2026

First: MET LEAPS. Retrieve the final 2 Oct MET close and re-strike the ±10% levels; record final levels and the change from provisional values.
Run §6 management on open short puts. DELL is nearest to the 50% take (+42.1%, 14 DTE); CBRS is ITM and |δ| is 0.006 below the 0.45 threshold that matters at 21 DTE on 30 Oct.
Run the §7.1 buffer test before pricing any chain. Free cash is $5,659.26 above the floor; deployable headroom is $16,814.26.
Recompute regime, buffer and §7.1B sentiment fresh. Neutral sentiment remains in force because trend and volatility pass but external breadth/fear-greed fails.
Monitor both earnings-exception puts: APH ×4 reports 28 Oct; FTNT ×3 reports 29 Oct; $80,000 reserved through those reports.
Check COP LEAPS: day 8 of 14, time-exit active 8 Oct; mark 21.325 vs 24.75 paid.
Run the universe/entry funnel from scratch. Do not carry forward partial-bar-dependent REGN verdicts or prior chain results.
Keep trade-log writes in claude/trade-log-part6.md; parts 1–5 are frozen. Rotate to part 7 past ~60 KB.
Verify the task fires on time and all fill quotes show REALTIME; today's one-minute-late run does not resolve the recurring schedule question.

Generated from wheel-book-state-2026-10-02.md (Rulebook v3.5, session 21). Four fills were completed during RTH with REALTIME quotes: AMD take, MET LEAPS entry, FTNT 160P ×3 and APH 80P ×4. Market readings are intraday/partial-bar where noted. Portfolio performance uses the source-implied $1,000,000 baseline; its date is unspecified. Benchmark figures show one-session price changes using prior-dashboard 1 Oct values and current intraday values, not an audited cumulative comparison. Informational dashboard only; it does not execute trades.