What makes a long call fairly priced here?

It is near the money, the ask-based breakeven is a smaller fraction of the same-expiry ATM straddle, and the contract does not pay a large IV premium versus that expiry’s ATM IV.

Why are far out-of-the-money calls missing?

They are a different product. Ranking them by cheap ask would promote lottery tickets, not fairly priced directional contracts.

What is the maximum loss?

The debit paid, before fees, if the call expires worthless.

Are the displayed option prices actual fills?

No. ASK is the executable-side quote a buyer would lift. MID is shown only to expose the quote gap. A real order may fill at a different price or not fill at all.

Is this a Black-Scholes fair-value screen?

No. Fairness is measured against the listed book: the same-expiry ATM straddle and that expiry’s ATM IV. The page does not invent a model price, treat delta as probability, or compute expected value.

Are these recommendations?

No. Each row is contract-quality evidence for an existing thesis or hedge. LOPJLB does not forecast direction or place the trades.

Is this the paid Options Workbench?

No. These are public research ledgers. Proprietary workbench configurations are not published here.

[LONG CALL LEDGER]

Long calls

No scan posted yet0 setups · 0 selectedINSUFFICIENT DATA

Daily 21–60 DTE quote-based directional calls. Fair means the ask-based breakeven is a smaller slice of the same-expiry ATM straddle, near the money, without a rich IV premium. Cheap far-OTM calls are rejected.

Debit: ASK is the executable-side quote; MID is the midpoint. Neither is a fill.
BE / IM: Ask-based move-to-breakeven divided by the same-expiry ATM-straddle dollars. Lower is closer to the priced move.
IV premium: Contract IV minus that expiry’s ATM IV. Positive means the call is rich versus the ATM book.
Sleeves: ATM is −2% to +2% versus spot. Near is 2–6% OTM. Far OTM calls are not scored.

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ASK and MID are quote estimates, not fills. Long calls can expire worthless. General research for an existing upside thesis, not personalized advice.

How long calls are scored

Ask debit, ATM-straddle implied move, and the evidence shown in each row.

What a fairly priced long call is

A long call pays a defined debit for the right to buy 100 shares at the strike. This ledger ranks contract quality for an existing upside thesis. It does not pick direction.

Fair is not cheap. Ranking by the lowest ask selects weeklies and 10-delta lottos. Ranking by closeness to 50-delta is also rejected. The primary key is ask breakeven versus the same-expiry ATM straddle.

How to read the ledger

ATM and cheapest same-expiry asks are controls so a lottery contract cannot hide. Theta/ask is carry on the debit. Open interest and quote age describe whether the book is usable.

None of these facts is probability of profit, expected value, or a fill.

Quick FAQ

Put the option quote in stock context.

Screen the underlying, inspect its nightly signal evidence, and treat every option row as a research starting point—not an order.

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