/ib-collar

Tactical Collar Report - Markdown Template

Format the JSON data into a markdown report saved to sandbox/.

Filename: {YYYYMMDD}_{HHMMSS}_{SYMBOL}_Tactical_Collar_Report.md

JSON Fields

• symbol - Ticker symbol
• current_price - Current stock price
• long_strike, long_expiry, long_qty, long_cost - LEAPS position
• long_value_now - Current market value of long call per share
• short_positions - List of {strike, expiry, qty} for short calls
• is_proper_pmcc - Boolean: price near/above long strike
• short_above_long - Boolean: all shorts above long strike
• earnings_date - Next earnings date or null
• days_to_earnings - Days until earnings or null
• put_analysis - List of put scenarios (see below)
• unprotected_loss_10 - LEAPS loss on 10% gap down (total $)
• unprotected_loss_15 - LEAPS loss on 15% gap down (total $)
• unprotected_gain_10 - LEAPS gain on 10% gap up (total $)
• volatility - Dict with annual_vol, daily_vol, expected moves

Report Sections

1. Position Summary

2. PMCC Health Check

Based on is_proper_pmcc and short_above_long:

• Proper PMCC: Both true. "Structure is healthy."
• Broken PMCC: is_proper_pmcc false. "Price has moved below long strike - position is OTM. Margin implications."
• Short below long: short_above_long false. "Short calls below LEAPS strike require additional margin."

3. Unprotected Risk

Show what happens to the LEAPS without a collar:

4. Put Protection Analysis

Group put_analysis by expiry. For each expiry group:

Header: "{expiry formatted} ({days_out} days, {days_after_earnings} days after earnings)"

For each put in the group:

• Strike: $strike
• OTM%: otm_pct (1 decimal)
• Cost/Contract: $cost_per_contract
• Total Cost: $total_cost
• Scenario columns: Show put_pnl from each scenario. Format as gains/loses.

5. Cost/Benefit Analysis

For each put option, calculate:

• Insurance cost: total_cost
• Protection on 10% drop: scenarios.gap_down_10.put_pnl + unprotected_loss_10 (net protected loss)
• Salvage on gap up: scenarios.gap_up_10.put_pnl (what you recover selling the put)

6. Recommendation

Pick the best put based on:

• Cost vs protection ratio
• Days after earnings (prefer puts expiring shortly after)
• OTM% (prefer 5-10% OTM for balance of cost and protection)

Provide:

• Recommended put strike and expiry
• Order: BUY TO OPEN {qty} {symbol} {expiry} ${strike} PUT @ ${cost_per_contract}
• Timeline: When to buy (before earnings) and when to sell (after event)

Formatting Rules

• Currency: $X.XX for per-share, $X,XXX for totals
• Percentages: 1 decimal
• Expiry dates: "Mon DD, YYYY" for YYYY-MM-DD, parse YYYYMMDD accordingly
• Bold key values in recommendations
• Include horizontal rules between sections
• Color-code P&L: positive = gains, negative = loses
• Footer: *Report generated by Trading Skills on YYYY-MM-DD HH:MM*