{"slug":"how-much-money-do-you-need-to-trade-options","qid":"call_ladder","label":"call_ladder","post_title":"how-much-money-do-you-need-to-trade-options","post_url":"/blog/how-much-money-do-you-need-to-trade-options#q-call_ladder","columns":["strike","pct_above_close","call_delta","cash_to_buy_usd","stock_close"],"rows":[{"strike":"210","pct_above_close":0.5,"call_delta":0.51,"cash_to_buy_usd":632,"stock_close":"208.9"},{"strike":"212.5","pct_above_close":1.7,"call_delta":0.45,"cash_to_buy_usd":515,"stock_close":"208.9"},{"strike":"215","pct_above_close":2.9,"call_delta":0.38,"cash_to_buy_usd":405,"stock_close":"208.9"},{"strike":"217.5","pct_above_close":4.1,"call_delta":0.33,"cash_to_buy_usd":325,"stock_close":"208.9"},{"strike":"220","pct_above_close":5.3,"call_delta":0.27,"cash_to_buy_usd":253,"stock_close":"208.9"},{"strike":"222.5","pct_above_close":6.5,"call_delta":0.22,"cash_to_buy_usd":190,"stock_close":"208.9"},{"strike":"225","pct_above_close":7.7,"call_delta":0.18,"cash_to_buy_usd":143,"stock_close":"208.9"},{"strike":"227.5","pct_above_close":8.9,"call_delta":0.14,"cash_to_buy_usd":111,"stock_close":"208.9"}],"shape":"table","sql":"SELECT\n    toString(toFloat64(strike_price))                                                 AS strike,\n    round((toFloat64(strike_price) / toFloat64(max(underlying_close)) - 1) * 100, 1)  AS pct_above_close,\n    round(toFloat64(max(delta)), 2)                                                   AS call_delta,\n    toUInt32(round(toFloat64(max(option_close)) * 100))                               AS cash_to_buy_usd,\n    toString(round(toFloat64(max(underlying_close)), 2))                              AS stock_close\nFROM global_markets.options_greeks\nWHERE underlying_symbol = 'AAPL'\n  AND toDate(date) = '2025-05-19'\n  AND toDate(expiration_date) = '2025-06-20'\n  AND lower(toString(option_type)) IN ('c', 'call')\n  AND iv_converged = 1\n  AND volume > 0\n  AND toFloat64(strike_price) >= toFloat64(underlying_close)\n  AND toFloat64(option_close) >= 0.90\nGROUP BY strike_price\nORDER BY strike_price","computed_at":"2026-09-18T15:22:56.563256+00:00","elapsed":0.003127517}