Reg T minimum branches for one uncovered AAPL call, by strike (dollars per share)

Name: Reg T minimum branches for one uncovered AAPL call, by strike (dollars per share)
Creator: Strasmore
Published: 2026-08-22
License: https://www.strasmore.com/terms/

Answered against 22 years of US equities and 12 years of US options data and published with the query that produced it. This result is stored as of 2026-08-22, from Margin for Selling Naked Options: Reg T Math.

as of 2026-08-22 ranking 12×4read in context →

Reg T minimum branches for one uncovered AAPL call, by strike (dollars per share) — 12 rows by 4 columns, computed 2026-08-22 from US exchange, SIP and OPRA data.
strike	main_branch	floor_branch	branch_gap
285	57.8	28.9	28.9
290	56.81	28.9	27.91
295	51.81	28.9	22.91
300	46.81	28.9	17.91
305	41.81	28.9	12.91
310	36.81	28.9	7.91
315	31.81	28.9	2.91
320	26.81	28.9	-2.09
325	21.81	28.9	-7.09
330	16.81	28.9	-12.09
335	11.81	28.9	-17.09
340	6.81	28.9	-22.09

Rows × columns: 12 × 4
Computed: 2026-08-22
Completeness: No missing values
Source: US exchange, SIP and OPRA market data
Licence: Strasmore terms · free, no signup
Formats: JSON · CSV · the SQL below

What each column holds

Column definitions for Reg T minimum branches for one uncovered AAPL call, by strike (dollars per share), derived from the stored result.
Column	Type	Range	Notes
`strike`	number	285 to 340	US dollars
`main_branch`	number	6.81 to 57.8
`floor_branch`	number	every row is 28.9
`branch_gap`	number	-22.09 to 28.9

Computed from Strasmore's warehouse of US exchange, SIP and OPRA market data. Equity prices are delayed; options greeks and implied volatility are end-of-day. This result is stored, not recomputed on load — it is exactly the numbers that were returned on 2026-08-22, and the query below is what returned them.

the exact SQL behind every number

SELECT
    round(toFloat64(strike_price), 2)                                          AS strike,
    round(0.20 * max(toFloat64(underlying_close))
          - greatest(toFloat64(strike_price) - max(toFloat64(underlying_close)), 0.0), 2) AS main_branch,
    round(0.10 * max(toFloat64(underlying_close)), 2)                          AS floor_branch,
    round(0.20 * max(toFloat64(underlying_close))
          - greatest(toFloat64(strike_price) - max(toFloat64(underlying_close)), 0.0)
          - 0.10 * max(toFloat64(underlying_close)), 2)                        AS branch_gap
FROM global_markets.options_greeks
WHERE underlying_symbol = 'AAPL'
  AND date = (
      SELECT max(date)
      FROM global_markets.options_greeks
      WHERE underlying_symbol = 'AAPL'
        AND date BETWEEN '2026-06-01' AND '2026-06-30'
  )
  AND days_to_expiry BETWEEN 20 AND 45
  AND iv_converged = 1
  AND volume > 0
  AND toFloat64(strike_price) BETWEEN 0.98 * toFloat64(underlying_close)
                                  AND 1.18 * toFloat64(underlying_close)
GROUP BY strike_price
ORDER BY strike

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