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In short: you want to protect your coins or earn income with options, and you are not sure which setup to pick. This tool prices all nine option setups in one call, from a protective put to a collar (a put paid for by selling a call), so you can compare them side by side. Compare the cover per roll column, which counts every part of each setup: negative means you pay, positive means you are paid. Tool: compare_options Ask this before price_options when somebody wants to know what their options are. Pricing nine structures one at a time costs nine model turns and about a tenth of a second of work. This returns the comparison in one call, measured at 295ms for all nine.

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What it answers

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Cover/roll is the number to compare

It nets every leg, as a share of the position: negative is premium paid out, positive is premium taken in. Reading only the first leg made the collar rank as the most expensive protection on the board. A collar is a long put paid for by a short call, and it is the one structure whose selling point is costing nothing. Ignoring which legs are short reported the four premium-selling structures as costs. The collar reading near zero is the answer somebody asking for cheap protection usually wants, and it is invisible if you price the structures one at a time and stop at the first.

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Total is not comparable down the column

A structure that only buys premium exhausts its budget and stops early: the protective put runs 3 years where the rest run 5. The table says so, and prints the hold figure only when every row shares a window. Cover/roll is per-roll and is comparable, which is why it sorts the table.