Case Studies

One account. 287 days.
Every trade included.

4.80% overlay return (6.10% annualized). One account. May 13, 2025 to Feb 23, 2026. Every trade included, nothing excluded. The overlay ran continuously across all positions for 287 calendar days (196 real trading days). $152,516 in premiums collected. $127,662 in buyback costs. Net $24,853 retained. No shares were called away. No manual intervention required. This is what set and forget looks like in practice.

Performance Overlay · Options Income Only
Overlay Return1
4.80%ACTUAL — ONE ACCOUNT · 6.10% ANNUALIZED
$24,853 net options P&L ÷ $540,535 avg portfolio equity (Method A) · May 2025 – Feb 2026
Net Options P&L1
$24,853
134 covered calls written · $152,516 collected
Verified Orders
134 options orders
59 rolls · 75 standard expirations · 4 active
1099 ST Losses3 · Offsets Gains
−$127,6621099 TAX LOSS — NOT CASH
Realized short-term losses from options activity · stocks never sold · deductible against other ST gains
Why Software Makes a Difference

With 1,000 shares of a position, you can write 10 covered calls. A human advisor typically sells all 10 at the same strike and expiration, treating them as one block. AcuBooth optimizes each contract individually: each set of 100 shares is evaluated separately, with its own strike selection, expiration, and timing based on current market conditions.

This means no two contracts are identical. The risk of assignment is spread across different strikes and dates. That is the software-level precision a human simply cannot execute at scale.

Options Performance · Verified2
Premiums collected (134 covered call orders)+$152,516
Roll/close costs (59 rolls)−$127,662
Net options P&L+$24,853
Commissions of $492.36 are already netted into the gross and roll figures above (not a separate subtraction step) · AcuBooth management fees and taxes not deducted · Pre-fee gross figures
1099 Tax Illustration · Same Account (Schwab)4
Roll losses reported on 1099 can offset short-term capital gains elsewhere in the account
1099 roll losses (gross option losses)−$127,662
Est. tax savings at 24% marginal rate$30,639 (illustrative)
As % of avg portfolio equity ($540,535)5.7% (illustrative)
Illustrative: $127,662 in 1099 roll losses × 24% marginal rate = $30,639 estimated tax savings (5.7% of avg portfolio equity). Per-symbol breakdown not verified for this period. Not tax advice — consult a qualified tax professional.
AVGO — Covered Call Overlay on an Existing Client Position
PE ON • NO SHARES ASSIGNED
The Position
COST BASIS • 704 SHARES
CURRENT PRICE • APR 14, 2026
$82.01
~$381
Purchased before AcuBooth enrolled
Total cost: $57,743+364% unrealized
Current value: $268,105
What’s At Stake If Assigned
Unrealized gain
704 shares • not yet taxed
$210,362
Cost basis total
avg $82.01/share
$57,743
Open contracts
100 shares each • PE On mode
7
PE On keeps strikes conservative and closes proactively as AVGO approaches them, protecting the unrealized gain at every cycle. How PE On works →
What AcuBooth Did • 285 Days
Premiums collected
73 profitable closes • avg $270/close • 7.4% yield
+$19,730
Roll costs to avoid assignment
32 buy-to-close legs • Sep–Nov 2025 heaviest ($18,682)
−$32,028
Net options P/L on AVGO
Reported on 1099 • offsets ST capital gains account-wide
−$12,298
Unrealized gain kept intact
Shares never assigned • gain not yet taxed • position open
$210K
AcuBooth spent $32K rolling to protect a $210K unrealized gain and collected $19,730 in premium income along the way. The −$12,298 net on the 1099 is a byproduct of that protection. It offsets short-term gains elsewhere in the account.
MSFT — Equity Declined. Covered Calls Offset the Loss.
PE ON • 25 TRADES • 24 WINNERS
The Position • Net Impact
AVG COST • 100.9 SHARES
CURRENT • APR 14, 2026
$420.51
~$393
tax lot avg cost basis
−7% from cost basis
Unrealized equity loss
100.9 shares • market value $39,682
−$2,369
Covered call income
25 closed trades • 24 winners • 1 loser
+$2,333
Combined net position
Shares still held • call still open
−$36
What AcuBooth Did
Closed Trades
25
Jul 2025 – Apr 2026
Win Rate
96%
24 of 25 profitable
Net Call Income
+$2,333
realized • confirmed 1099
Effective Loss
−$36
vs. −$2,369 without calls
MSFT fell −7% from cost basis. AcuBooth collected $2,333 in net option income, reducing the effective loss from −$2,369 to just −$36. Shares retained. Position still open.
Currently Open
MSFT $425C • Jun 18, 2026 • 8% OTM
Active
Per-Symbol Breakdown
Per-symbol breakdown available in the full Returns Methodology

The per-symbol figures shown previously were from a later data extract (through April 14, 2026) and cannot be verified for the authoritative period ending February 23, 2026. Account-wide verified totals for May 13, 2025 – Feb 23, 2026:

Gross Premiums
$152,516
Roll Costs
−$127,662
Net Retained
$24,853
View Returns Methodology →

Source: Charles Schwab account records via TollBooth, May 13, 2025 – Feb 23, 2026. All account-wide totals verified from real position and trade records. Not a recommendation to buy, sell, or hold any security.

FOOTNOTES

1 Overlay Return of 4.80% (6.10% annualized) is calculated as net options P&L ($24,853.28) divided by average total portfolio equity ($540,535.45) — Method A, the full account value each day (excluding cash/money-market positions), not just positions with an active covered call — compounded daily across the 196 real trading days in the period May 13, 2025 – Feb 23, 2026 (287 calendar days, 205 weekdays including 9 NYSE holidays). Annualized using calendar days: 4.7961% × (365/287) = 6.0996%. Source data is real daily position and price history from Charles Schwab via TollBooth, not a reconstruction.

2 Options Performance panel shows verified account-wide totals: $152,515.72 gross premiums collected from 134 covered call orders, $127,662.44 in roll/close costs across 59 rolls. Commissions of $492.36 are already netted into these trade-level figures (not a separate subtraction step). Net options P&L: $24,853.28. Figures are from verified real trade records for the period May 13, 2025 – Feb 23, 2026.

3 The −$127,662.44 represents gross roll losses reported on the 1099 — not a cash loss. These are losses on options contracts (buy-to-close orders when rolling strikes higher). The underlying stock positions were never sold and remain intact with unrealized gains. The 1099 separately reports +$152,515.72 in premiums collected. Gross 1099 losses ($127,662.44) can be used to offset short-term equity gains; the net options figure after wins is +$24,853.28. Equity appreciation, unrealized gains, dividends, and closed equity positions are excluded from all realized income figures.

4 Tax illustration is based on account-wide verified 1099 roll losses of $127,662.44 for the period through February 23, 2026. The 24% marginal rate and resulting $30,639 estimated savings are illustrative only. Actual tax treatment depends on individual tax situation, bracket, loss utilization, wash sale rules, and other factors. Not tax advice — consult a qualified tax professional.

5 The 5.7% tax alpha figure is illustrative only. It is calculated as 24% × $127,662.44 gross option losses divided by average total portfolio equity ($540,535.45). This is not verified tax savings and is not tax advice.

6 Past performance is not indicative of future results. This case study reflects one account during a specific 287-day period. Results will vary significantly based on portfolio composition, market conditions, strategy settings, and other factors.

* This case study presents a real individual taxable brokerage account enrolled in the AcuBooth covered call overlay program. Data collection covers the full 287-day period through February 23, 2026. All positions and all strategy activity across the full period are included — nothing excluded. Data reflects verified real position and trade records (Charles Schwab via TollBooth) and is fixed as of the dates shown. Results are specific to this account’s holdings, market conditions, and strategy parameters and are not representative of results for any other account. Figures shown are net of commissions ($492.36, already netted into trade-level figures) but gross of AcuBooth management fees and taxes. Not investment advice.