# Cushion Call Ledger

Daily LOPJLB research ledger for long-dated bull call spreads (call debit spreads).

Canonical URL: https://www.lopjlb.com/bull-call-spreads

Live API (no auth):
- `GET https://www.lopjlb.com/bff/api/hold-spreads/summary`
- `GET https://www.lopjlb.com/bff/api/hold-spreads/opportunities`
- `GET https://www.lopjlb.com/bff/api/hold-spreads/runs`
- `GET https://www.lopjlb.com/bff/api/hold-spreads/outcomes`

## Research status

- Status: INSUFFICIENT_DATA
- As of: No canonical noon record yet
- Methodology: hold-spread-v1
- Qualifying candidates: 0
- Published board rows: 0
- Unique episodes: 0
- Matured episodes: 0

Reference midpoint and natural debit are quote-derived research values, not observed fills. The full debit can be lost and upside is capped. HIT and typical return describe underlying-price history, not an options backtest or probability forecast.

## Latest opportunities

No complete fresh regular-session snapshot has been published yet.

## Paper outcomes

No declared forward horizon or expiry outcomes have matured yet.

## Methodology

- Calls only; one lower-strike long call and one higher-strike short call with the same expiration.
- 90–400 DTE, grouped into DEEP, MID, NEAR, and ATM sleeves.
- HOLD separates seasoned paths from OCTANE or immature path histories.
- MIDPOINT_WATCH rows are discovery only and excluded from executable-looking aggregates.
- Only complete, fresh, regular-session timer runs become canonical records.
- Research only. Not investment advice. No order is submitted or tracked.