What happens to an assigned put, where the numbers come from, what it costs

No. Assignment is the middle of the trade, not the end, so the cycle stays in the OPEN list with the shares in it. A HOOD $85 put sold on 18 June for $2.05 and assigned on 17 July shows today as 100 shares at an $82.95 adjusted basis — the strike less the premium already collected — badged “Shares held”, with the put that produced it attached to the timeline and the lot linked in your portfolio. Write a covered call against those shares and it joins the same cycle rather than opening a new ticket: an AAPL cycle assigned at $210 has collected $2.00 on a $220 call that expired worthless and $1.65 on a $217.50 call still open, so its basis reads $204.85 and its return annualizes on the capital tied up. A cycle closes when you close it or when the shares leave — called away or sold. Nothing closes because an option leg expired, was assigned or was bought back, and a partial assignment leaves the remaining contracts live.

The builder with all 58 templates on the real chain, the strike ladder, the Greeks, the chance of profit and the P/L matrix — no account, no email box. Share links that pin your entry. The copilot for building, quoting and how-do-I questions, logged out included. 3 saved strategies, which live in your browser before you sign up and move into your account when you do. And with a free account: the wheel, portfolio, watchlist and alert trackers, the optimizer, and the trade-history file import. Premium is the copilot working on your own book — reading your cycles and lots, logging an assignment, costing the next roll — plus the brokerage-screenshot importer and unlimited saves. Premium is $29 a month or $290 a year, coming soon.

No. Build, scrub strikes, read the numbers, ask the copilot to build something for you, and copy the share URL with no session at all. Saving works anonymously too — it goes to your browser's local storage, capped at 3, and migrates into your account the moment you sign up.

Fifteen minutes during market hours, the previous close outside them, on every quote and every option chain, labelled on the screen. That is right for what this is used for: sizing a 30-delta put 30 days out and tracking a basis, where fifteen minutes on an $87.59 stock changes nothing. It is not enough to chase a fill. When you get filled at a different price than the screen showed, you type what you got — the sell-a-put and covered-call dialogs take the premium you were actually filled at, and the cycle folds from that number.

Massive, on a Polygon-compatible API: per-contract snapshots with the last traded price, open interest, implied volatility and Greeks, plus stock quotes, index levels, dividends and news. The plan does not include an NBBO feed, so a contract's mark is its last print rather than a bid-ask midpoint — that is what every screen shows and what every number here is computed from. After the close, that print is the last trade of the session, and a thin strike can be hours old. Every call is proxied through our server with a short cache, so the API key never reaches your browser.

Black-Scholes for pricing and the full Greek set. Implied vol per leg comes from the chain; when the chain is missing an IV we solve for it with Newton's method and fall back to bisection. Payoff at expiry is exact, mark-to-model P/L runs across a price-by-date grid, and breakevens come from a numeric root-find rather than a closed-form guess. Probability of profit is lognormal at the position's aggregate IV, the standard convention, so the number means what you expect it to mean.

On the capital the cycle has committed, over the window it is committed for — not on the premium, and not on unrealized share movement. The HOOD cycle above has banked $205 against the $8,500 the assignment tied up, which is 2.4% of that capital so far, and the card states it as a yearly rate over the days the capital has been committed. Once assignment turns collateral into shares, the capital is those shares at their adjusted basis, so the denominator follows the position instead of resetting. While an option is still working, the window runs to its expiry rather than to today, because a 30-DTE put ties the collateral up for 30 days whether the credit landed on day one or not. Under 30 days nothing is annualized at all: the closed KO cycle states “+1.3% over 25d” instead of multiplying that by 365 into a headline nobody could repeat. And an event you have dated in the future sits out of every figure until it settles.

4.2% risk-free by default and 1.2% dividend yield in the probability model. The risk-free rate is a per-account preference, so if you disagree with our number you can change it instead of mentally adjusting every result.

The working is on the screen and the conventions are stated. SPY 31 Aug 747/752 bull call spread on the same chain you are looking at: $295 net debit, $205 max profit, 48% chance of profit, breakeven $749.95, with the per-leg chain data it priced from — last, IV, delta, open interest — shown beside it. The 742/747 bull put spread on the same chain reads a $198 credit off $10.48 and $8.50 on those two strikes, and the screen labels which session each print came from. One convention moves numbers more than rounding does. Rho is European Black-Scholes on American-style equity options — the one Greek where that choice is visible — so on that same 31 Aug chain the SPY $740 cash-secured put reads ρ 22.2 against an $808 credit. Every formula has unit tests, including $0.00 closes, partial assignment and expiration-day edges.

An account is for storage, and for the two screens that read a whole chain or a whole file at once. That is what needs one: saved strategies past the local 3, the wheel and portfolio trackers, watchlists, alerts, the optimizer and file import — all of it free. Everything that prices a single trade is open with no account at all — 58 templates, the real chain, chance of profit, the full Greek set, the strike ladder, the P/L matrix, share URLs with their payoff cards, and the copilot's build tools, which will structure a 30-delta cash-secured put for an anonymous visitor and hand back a working builder URL. Premium is the copilot acting on your own positions, the brokerage-screenshot importer and unlimited saves. Premium is $29 a month or $290 a year, coming soon.

Two paths, and it is worth knowing which one your file needs before you upload it. One, free: a trade-history spreadsheet in the single layout the file importer reads — .xlsx or .csv, two header rows (a trade-level row beginning Name, then a leg-level row beginning Symbol: Quantity, Entry Price, Current Price, Close Price), then one row per trade with its legs beneath it, and option legs written as .TICKERYYMMDD[C|P]STRIKE — .SPY260831C747, for instance. Historical and active together. That is a strategy-tracker export format: a positions or transactions CSV straight from your brokerage is a different shape, and the importer says so rather than guessing at your columns and mis-booking a year of trades. Two, Premium: a screenshot of your brokerage positions screen — thinkorswim, Schwab, Robinhood, Fidelity, anything with a positions table — read by an AI vision pass, which is the path for everything the file reader does not take. Both land in the same preview, where you see every trade, every leg, and our recomputed P/L next to the source's, with discrepancies highlighted. A put-assign-call sequence on one ticker is rebuilt as a linked cycle with its stock lot. Nothing is written until you confirm, and re-importing the same file will not duplicate anything.

Because a short option that expired worthless closed at zero, and recording it at a penny is a small lie that compounds. It shaves real dollars off every cycle, it drags your win rate, and it quietly reframes “I kept the entire premium” as “I paid to get out”. Take KO's 4 September $85 put, $1.08 on the chain: sell it for $108, let it expire worthless, and the close is $0.00, so the full $108 is realized. Record that same expiry at $0.01 and it books +$107 — a dollar of debit that never left your account, once per contract, every expiry, for the life of the record. The closed KO cycle on the wheel screen is the honest version: +$110.00 realized against a $0.00 cost basis, the whole credit. The bigger cost is structural — a record that requires a closing price cannot represent an assignment at all, so the share leg and the cost basis behind it never happen. Some trade histories arrive with every expired leg force-closed at $0.01; the importer flags every one, normalizes them to zero in one tap, and lets you override per trade if you genuinely did pay a penny to get out.

Yes, as one campaign rather than a pile of unrelated trades. One cycle holds the cash-secured put, the assignment, the shares, every covered call written against them, dividends, and the call-away. Cost basis adjusts for each premium collected — a PLTR cycle assigned 1,000 shares at $140 has banked $9,460 across three calls and a buy-back, so it reads $130.54 rather than $140. The annualized return is computed on the capital the cycle tied up rather than on premium, and assignment at any price, including $0.00, is a first-class event.

Only you, and yes. Every table carries Postgres row-level security keyed to your user id, on every operation, and that is verified by a test that logs in as a second user and confirms it sees nothing. Anonymous saves never leave your browser until you create an account, and the market API key stays on our server. Your account page exports everything to JSON in one click — strategies, cycles, lots, realized trades, watchlists, alerts and chat history, with the row counts listed before you download — lists every signed-in device with one button to end all of them, and states the exact number of rows deletion will remove before you confirm it.

It was built for one at 390px, one-handed, before it was tuned for a desktop. The strike ladder drags under your thumb with a magnified strike readout above your finger, the payoff chart and the price-by-date matrix are both full-fidelity and scrollable, and the summary keeps all six figures — credit, collateral, max loss, max profit, chance of profit and breakeven — without a horizontal scroll. The trackers, the copilot and the importers are the same at that width.

The Save button returns an upgrade prompt instead of a save. Nothing already saved is deleted, hidden or downgraded, and everything else keeps working: the builder, the chain, the strike ladder, the share link, the trackers. The cap counts saved strategies open and closed together, so closing one does not free a slot — delete one to make room, or take Premium, which lifts the cap. Anonymous saves work the same way against the same 3, in your browser, and migrate into your account when you make one.