How we calculate the 7.25% overlay return.
The complete, step by step calculation for Account 626 (Charles Schwab custody) since inception, May 9, 2025 through August 5, 2026. Disclosed in a manner consistent with SEC Marketing Rule 206(4)-1.
Net premium divided by the average equity that actually carried a covered call ($385,053 average), counted from the first day a call existed on the account, not account inception. This is the strategy's real yield, it measures the overlay against the capital it was actually deployed on.
Same net premium divided by average total account equity ($520,440 average), including holdings that never had a call written. This dilutes the rate with capital the overlay was not applied to, and is shown here as reference context only.
Both bases use the same net premium figure and differ only in the denominator. Full six step calculation, positions included and excluded from each denominator, material risks, and the complete daily dataset (316 weekdays across 453 calendar days since inception) are documented for compliance review. This page is intentionally reference material, not a landing page, which is why it lives in the footer rather than the main navigation.
Daily records below use the Full Account Basis (Method A) denominator. The Eligible Shares Basis (Method B) series begins May 13, 2025, and is available on request.
Preview first 2 of 453 daily records+
| Date | Full Portfolio Equity | Options P&L | Daily Return | Cumulative |
|---|---|---|---|---|
| 2025-05-09 | $408,018.99 | n/a | n/a | 0.00% |
| 2025-05-10 | $408,064.08 | n/a | n/a | 0.00% |
| 420 more rows — download the full dataset below. | ||||