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Documented · Anonymized case study

Inside two professionals' premium-selling books.

Two professional money managers run their entire options-income strategy inside Remora — sourcing and managing every position on the platform. Here is what roughly six months of that looks like, drawn from their real account activity.

Identities and individual client accounts are withheld at the managers' request. Premium selling is structurally high-probability; these are individual professionals' results — not typical, and not a guarantee of future performance. See the note at the foot of this page.

$305K
Realized P&L
closed trades only
99.4%
Win rate
788 of 793 closed
918
Trades placed
793 closed · 125 open
$418K
Premium sold
covered calls + puts
Two operators, two risk dials
Manager A diversified · aggressive
High-IV, short-dated put selling across a diversified set of names.
$200K
realized P&L
99.1%
win rate
678
trades
559 wins5 losses
Manager B concentrated · conservative
Lower-delta, longer-dated put selling on a tighter set of names.
$105K
realized P&L
100%
win rate
240
trades
229 wins0 losses
The compounding curve

Realized P&L, month by month.

Both books accelerate as the wheel keeps turning — premium collected, assignments managed, calls written.

remora · performance
Cumulative realized P&L
by month, both books
Monthly take
realized P&L booked each month
How the wins are made
remora · analytics
P&L by strategy
cash-secured puts vs covered calls (realized)
Win / loss
793 closed trades, both books
The losses tell the strategy. Across 793 closed trades there were just five losers — every one a short call where the stock rallied through the strike, −$3,177 in total. Every single cash-secured put closed a winner. That's the structural signature of disciplined premium selling: win often and small, lose rarely and larger — exactly the trade-off Remora's scoring is built to surface.
The entry discipline

Probability first, yield second.

Both managers sell out-of-the-money premium with a strong probability cushion, then let time decay do the work. Manager A runs the dial hotter — selling closer-dated, higher-IV options for a richer annualized yield. Manager B runs it cooler — further out-of-the-money and longer-dated. Same engine, two risk settings.

Today these managers read that edge by hand — name by name, contract by contract. Saber, Remora's upcoming top tier, turns exactly that discipline into a one-screen signal: it quotes every option's premium as an annualized yield on the cash it reserves — the Theta Yield Equivalent — surfaces the high-probability, rich-premium setups these pros hunt for, and shows the downside next to the upside on every line. See how Saber works

Typical entry profile
rounded ranges — not trade advice
~0.15–0.20Δ
Manager A · short puts
~0.10Δ
Manager B · short puts
2–3 wks
A · typical expiry
~7 wks
B · typical expiry
~30–40%
A · annualized yield
~10%
B · annualized yield
Every losing trade
all 5 of them, out of 793 closed — all short calls
Short call · stock rallied−$1,410
Short call · stock rallied−$570
Short call · stock rallied−$522
Short call · stock rallied−$513
Short call · stock rallied−$162
Total−$3,177
Still working
open positions, not yet realized
$102K
premium in flight
125
open contracts
$1.75M
assigned-stock capital
~6 mo
track record

Premium in flight is collected on still-open positions and not yet booked. Mark-to-market on assigned stock isn't reflected here.

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Methodology & disclaimers. Figures reflect two professional money managers' documented, historical account results, used with permission; identities and individual client accounts are withheld. "Win" = a closed trade with positive realized P&L. Premium sold = premium collected across all short options. "In flight" = premium on still-open positions, not yet realized; mark-to-market on open stock requires live quotes and is not reflected. Entry-profile figures are rounded ranges, not trade recommendations. These are individual professionals' results — they are not typical, are not a projection, and are not a guarantee of future performance. Options trading involves substantial risk and is not suitable for all investors. Past performance does not guarantee future results. Remora is a research tool, not a broker-dealer or investment adviser; its scores are informational rankings, not recommendations or investment advice.