Rolling Repair Assistant

Rolling a position - closing one contract and opening another at a different strike, a different expiration, or both - is a judgement call with a lot of moving parts. The Rolling Repair Assistant does the arithmetic for you: it reads the live options chain around your position, builds every roll it can price, scores them, and shows you the best candidates side by side.

It is informational only. It does not place a roll, and it does not create trades. See Recording the roll below.

Opening it

From the Positions page, open a position's row actions menu and pick Repair.

The action appears only for a position that can actually be rolled:

• Closed positions don't show it. There's nothing left to roll.
• Expired positions don't show it, for the same reason.
• A position the assistant has already analyzed and found no candidates for doesn't show it either, rather than offering an action that opens to an empty list.

Analysis runs the moment the modal opens. Results are cached for five minutes, so reopening the same position inside that window is instant; after it, the assistant re-reads the chain and you'll see "Analyzing roll options..." again while it works.

Reading the header

Above the candidates, the assistant summarizes the position it just looked at:

• Losing Reason - the health assessment behind the analysis, for example ITM short put (4.2% ITM), Short position underwater (63% loss), or OTM long with 9 days left (time decay). A plain-language Explanation sits beneath it describing what that state means and which direction of roll typically addresses it. A healthy position simply has no reason to show.
• Underlying - the underlying's current price, from the same market data as the rest of the app.
• Current Mid - the mid price of the contract you hold right now, for reference. Note that the candidates' credits and debits are not computed from this number - see Net Credit / Net Debit below.

Reading a candidate

Candidates are listed best-first, up to ten of them, and the top card is outlined and badged Best Option.

Roll type

A colored badge names the shape of the roll:

Which of these you actually see depends on the position. Candidates that keep your strike and shorten the expiration are never built, so there is no same-strike "roll in". On a short position the assistant also only looks in the repair direction: a short put considers your strike and lower ones, so its candidates are the Down and Out variants; a short call considers your strike and higher ones, so its candidates are the Up and Out variants. A long position is searched in both directions.

Score

Each candidate carries a Score from 0 to 100, color-coded green at 70 and above, yellow from 50, and red below that. Hover (or tap) the badge for the short reason string behind it - a compressed list of the factors that moved the score, such as +$1.35 cr, BE +2.1%, +28d.

The score blends up to six factors. Two apply to every position:

• Credit vs debit (weighted most heavily) - taking in premium scores well, paying out is penalized.
• Time added - extra time scores well, peaking around two weeks; rolling in (shortening time) is penalized unless it comes with a credit.

The other four are scored only for short positions, where the assistant is repairing premium you sold:

• Breakeven movement - a breakeven that moves in your favor scores well (lower for a short put, higher for a short call).
• Theta change - more decay working for you scores well.
• Delta change - reducing absolute delta scores well.
• Moneyness - moving further out of the money scores well.

So a long position's candidates are ranked on credit and time alone. That's a real limitation of the ranking, not just of this description: two long rolls with very different risk consequences can score the same, so read the numbers on the cards rather than trusting the order.

The raw result is normalized onto the 0-100 scale, so a score is only meaningful relative to the other candidates in the same list. It is a ranking aid, not a verdict, and it knows nothing about your thesis, your position sizing, or your tax situation.

Numbers on the card

• Current → Roll To - the strike and expiration you hold now, and the strike and expiration the candidate would put you in.
• Net Credit / Net Debit - the cash the roll would take in (green) or cost (red). It is priced against the side of the market you'd actually trade on, not off midpoints. Rolling a short buys your contract back at its ask and sells the target at its bid; rolling a long sells your contract at its bid and buys the target at its ask. That makes the figure deliberately conservative - it crosses the spread on both legs - so a real fill nearer the midpoints would come out better than the card shows.
• New Breakeven - the breakeven after the roll, with the change from today's breakeven beside it, green when it moves in your favor.
• Time Added - days between your current expiration and the target's. A roll-in candidate, which shortens the position, shows a negative number here.
• Delta and Theta - each shown as current → target so you can see what the roll does to your exposure and your decay. Gamma and vega aren't part of this comparison.

When there are no candidates

The assistant shows "No roll suggestions available for this position" when the chain produced nothing worth ranking. A candidate is dropped outright when it scores below 30 and wouldn't bring in a credit, so a position with no attractive roll available can legitimately come back empty. The usual causes:

• The position is healthy, so nothing scored well enough to surface.
• The chain has no priced contracts around your strike and expiration - a thin underlying, or a contract our provider has no data for.
• Market data for the position hasn't arrived yet. The header reports No market data available in that case - see When a price is missing.

Once a position has come back empty, the Repair action is hidden on that row rather than offering a dead end.

What it is not

• Not an order. OptionsPro cannot place, cancel, or modify orders - see the read-only guarantee.
• Not a recommendation. The score ranks candidates against each other on the factors above, nothing more.
• Not a fill price. Credits and debits are built from cached bid/ask quotes, not from a live book you can trade against. They assume you cross the spread on both legs, and the quotes themselves are delayed.
• Not assignment-aware. Early-assignment risk on an in-the-money short leg is not modeled. Weigh it yourself before rolling one.

Recording the roll

If you place the roll at your broker, nothing further is needed - the closing fill and the new opening fill arrive on the next sync and strategy detection relinks the new leg on its next pass.

For a manual position, record the two halves yourself:

1. Close the existing leg with Close Position.
2. Add the new leg with Add Trade.

Related

• Closing Trades - how closes are matched to openers, and how a roll is modeled as two independent trades.
• Positions - where the Repair action lives.
• Profit Calculator - model the post-roll structure's full payoff before you commit to it.