The same short put as a five-point credit spread in a margin account (June 12, 2026 close, July 17 expiry)

Run it yourself

This is the exact query behind the result above. Change a ticker, a date or a column and run it against the warehouse — no account, no key. The no-signup tier is smaller than the one this page was computed on; a query that reaches past it comes back saying which plan runs it.

SELECT
    s.strike                                                          AS short_strike,
    l.strike                                                          AS long_strike,
    s.put_price                                                       AS short_put_price,
    l.put_price                                                       AS long_put_price,
    toInt32(round((s.put_price - l.put_price) * 100))                 AS net_credit_dollars,
    toInt32(round((s.strike - l.strike) * 100)) - net_credit_dollars  AS margin_requirement_dollars,
    round(net_credit_dollars / margin_requirement_dollars * 100, 1)   AS credit_pct_of_requirement,
    round(s.strike * 100 / margin_requirement_dollars, 1)             AS cash_vs_margin_ratio,
    s.spy_close                                                       AS spy_close
FROM
(
    SELECT
        toInt32(round(toFloat64(strike_price)))               AS strike,
        strike - 5                                            AS long_strike,
        round(any(toFloat64(option_close)), 2)                AS put_price,
        toString(round(any(toFloat64(underlying_close)), 2))  AS spy_close
    FROM global_markets.options_greeks
    WHERE underlying_symbol = 'SPY'
      AND toDate(date) = toDate('2026-06-12')
      AND toDate(expiration_date) = toDate('2026-07-17')
      AND lower(toString(option_type)) LIKE 'p%'
      AND iv_converged = 1
      AND volume > 0
      AND toFloat64(underlying_close) > 0
      AND toFloat64(strike_price) < toFloat64(underlying_close)
      AND toFloat64(strike_price) >= toFloat64(underlying_close) * 0.94
      AND toInt32(round(toFloat64(strike_price))) % 5 = 0
      AND abs(toFloat64(strike_price) - round(toFloat64(strike_price))) < 0.001
    GROUP BY strike_price
) AS s
INNER JOIN
(
    SELECT
        toInt32(round(toFloat64(strike_price)))               AS strike,
        round(any(toFloat64(option_close)), 2)                AS put_price
    FROM global_markets.options_greeks
    WHERE underlying_symbol = 'SPY'
      AND toDate(date) = toDate('2026-06-12')
      AND toDate(expiration_date) = toDate('2026-07-17')
      AND lower(toString(option_type)) LIKE 'p%'
      AND iv_converged = 1
      AND volume > 0
      AND toFloat64(underlying_close) > 0
      AND toFloat64(strike_price) < toFloat64(underlying_close)
      AND toFloat64(strike_price) >= toFloat64(underlying_close) * 0.90
      AND toInt32(round(toFloat64(strike_price))) % 5 = 0
      AND abs(toFloat64(strike_price) - round(toFloat64(strike_price))) < 0.001
    GROUP BY strike_price
) AS l ON l.strike = s.long_strike
ORDER BY short_strike DESC