⚠ Event wings = naked short options on names in active vol events. Loss is unbounded and margin grows with the move — size like a lottery ticket, not like income.
DATA STALE — latest update is more than 10 minutes old during market hours.
Naked margin (Reg-T short option, per contract): calls = max(20%·spot − OTM amount, 10%·spot) + premium; puts = max(20%·spot − OTM amount, 10%·strike) + premium (×100). ROC uses BID premium against naked margin; ROC/d divides by DTE. P(ITM) = |dual delta| (risk-neutral prob of finishing through the strike); P(touch) ≈ 2×, capped 99. Repeat→ = the most favorable-to-breach DTE-length move in ~18 months of history applied to the current spot — red when it crosses the strike. Borrow%/yr = implied borrow from ~30d put-call parity (positive = shorts paying through options). Margin@K = the same Reg-T formula evaluated with spot at the strike — what the requirement grows to on the path. Leveraged-ETF margin is scaled by the fund's leverage factor (e.g. 3x fund: 60%/30% bases instead of 20%/10%, capped at 100%); volatility ETPs are excluded (naked shorts broker-restricted).