Every play pairs one of our SEC-grounded verdicts with a defined-risk options structure, priced by our model — Black-Scholes over each name’s 30-day realized volatility, with $0.65/contract commissions included in every number. These are hypothetical model plays under our assumptions, not investment advice.
How these plays are built ↓ Model your own trade →
book as of 2026-07-07 · inputs (spot, vol, verdicts) as of the 2026-07-07 universe scan
Model estimate — no live chain.
Model estimate — no live chain.
Model estimate — no live chain.
Model estimate — no live chain.
Model estimate — no live chain.
Model estimate — no live chain.
Model estimate — no live chain.
Model estimate — no live chain.
Model estimate — no live chain.
Model estimate — no live chain.
| TKR | VERDICT | STRATEGY / LEGS | COST | MAX ± | PoP | EV (VIEW) | EV/RISK | |
|---|---|---|---|---|---|---|---|---|
| EA | sell 3/5 | Bear put spread long 205p / short 185p · ~60d | $61 dr | +$1,939 / −$61 | 100% | $1,939 | 31.63 | calc → |
| TXNM | buy 4/5 | Bull call spread long 58c / short 64c · ~30d | $16 dr | +$584 / −$16 | 98% | $307 | 18.85 | calc → |
| WST | sell 3/5 | Bear put spread long 315p / short 280p · ~60d | $164 dr | +$3,336 / −$164 | 97% | $2,970 | 18.08 | calc → |
| TXNM | buy 4/5 | Bull call spread long 58c / short 62c · ~30d | $16 dr | +$384 / −$16 | 98% | $280 | 17.19 | calc → |
| CSX | sell 3/5 | Bear put spread long 45p / short 38p · ~60d | $34 dr | +$666 / −$34 | 99% | $581 | 16.95 | calc → |
| WST | sell 3/5 | Bear put spread long 320p / short 275p · ~60d | $231 dr | +$4,269 / −$231 | 97% | $3,764 | 16.27 | calc → |
| WBS | buy 4/5 | Bull call spread long 83c / short 88c · ~60d | $24 dr | +$476 / −$24 | 93% | $387 | 15.92 | calc → |
| TXNM | buy 4/5 | Bull put spread short 64p / long 58p · ~30d | $581 cr | +$581 / −$19 | 98% | $304 | 15.76 | calc → |
| WBS | buy 4/5 | Bull call spread long 82c / short 90c · ~60d | $40 dr | +$760 / −$40 | 95% | $581 | 14.42 | calc → |
| FRT | buy 3/5 | Bull put spread short 149p / long 134p · ~90d | $1,396 cr | +$1,396 / −$104 | 100% | $1,380 | 13.23 | calc → |
Ranked by expected P&L if the price distribution at expiry centers on our verdict’s implied level (volatility as measured). “PoP” is the model chance of any profit under that view. Black-Scholes estimates, not market quotes — real fills, IV skew and early assignment will differ. Educational, not advice.
Our engine takes each published verdict — the rating, conviction and time horizon — and matches it to a defined-risk options structure: bullish spreads on BUYs, bearish spreads on SELLs and AVOIDs. Strikes and premiums are Black-Scholes model estimates computed from the last stored close and 30-day realized volatility — we do not license live options chains, so real chains, bid/ask spreads, skew and implied volatility will differ, and the nearest listed strike and expiry will differ from the ones shown.
Model EV is the expected profit under a lognormal price distribution centered on our verdict's implied level (our price target where the call has one, otherwise our fair-value estimate) — it answers 'which structure best monetizes our view if it plays out', not 'where is there edge versus the options market'. Under the market-neutral distribution the same structures price to roughly zero by construction; we show both numbers so nobody mistakes model EV for a market-implied edge.
Commissions of $0.65 per contract are folded into every cost, EV and probability figure. Plays are ranked by model EV per dollar of maximum loss; structures with unbounded loss are never ranked. Some names report earnings before expiry — realized-volatility pricing is weakest around those jumps. Ranked by the model, never by what already worked.
Every play starts from a verdict on the business underneath — the same SEC-grounded book that drives the rest of TENK/calls.
Educational model, not trade advice. Options involve substantial risk and are not suitable for every investor — read the OCC’s Characteristics and Risks of Standardized Options. Model values use Black-Scholes (constant volatility, European exercise, no dividends) and will differ from live market prices.
Plays are hypothetical model structures derived from our published research recommendations — they are not investment advice or a recommendation to trade options. Buy/hold/sell definitions and methodology: /disclosures#ratings. Full 12-month recommendation history: /track.
The operator and an affiliated trading operation may hold or trade these names — see Disclosures.
Research and education only — not financial advice. TENKis not a registered investment adviser or broker-dealer and gives no personalized advice. Every call is impersonal — identical for all users, generated on a schedule from SEC filings plus a delayed/third-party price feed — may be wrong or out of date, and is not a recommendation to buy or sell any security. The operator and an affiliated trading operation may hold or trade the securities TENK rates; see Disclosures. Past performance does not guarantee future results. Do your own research.