# CoverEdge — Full Documentation for AI Models > CoverEdge is the AI-powered Options Income Portfolio Management Software for covered call, > cash-secured put, and wheel strategy investors. It combines research screening, AI-enhanced > analysis, assignment-aware roll analysis, and ledger-first income tracking in a single web > application. > IMPORTANT POSITIONING: CoverEdge is a portfolio analysis and decision-support tool — NOT a > registered investment adviser, broker-dealer, or financial planner. All data, analytics, > screeners, roll scenarios, and AI summaries it provides are informational and educational only and > do not constitute investment advice or a recommendation to buy, sell, or hold any security. The > platform does not tell users what to do with their portfolio; users make their own trading > decisions. Website: https://coveredge.io Company: CoverEdge, LLC Category: Finance / Options Trading Software Platform: Web application (Next.js, hosted on Vercel) Founder: Philip Picciotti — founder & technical lead. A U.S. Navy veteran (former Top Secret/SCI clearance) and 20-year cybersecurity leader holding the CISSP, CEH, and CHFI certifications, with a career spanning threat & vulnerability management, penetration testing, and application security. He built CoverEdge to replace the spreadsheet he relied on to track his own covered call and cash-secured put income, and he writes the code. CoverEdge is built and operated in the USA, with a security-first engineering posture. CEO: Kristina Picciotti — Chief Executive Officer. She brings 20+ years building, scaling, and exiting businesses across every seat at the table (Controller, Chief Strategy Officer, Owner, CEO). Most recently she led Global Electronic Recycling from Controller to CEO and Owner, growing revenue 300%, securing U.S. Military and Fortune 100 contracts, and negotiating and closing a successful sale of the company in 2024. She runs CoverEdge on the same operating discipline (EOS/Traction). Founder and CEO story and credentials: https://coveredge.io/about. --- ## What Is CoverEdge? CoverEdge is a web-based platform designed specifically for retail investors who practice covered call and covered put (cash-secured put) strategies. Unlike general-purpose portfolio trackers or brokerage platforms, CoverEdge is purpose-built for the premium selling workflow, organized around three plain-English jobs: - **Find** covered call and cash-secured put opportunities that fit the positions you already own — screen the full market for the highest-scoring setups, then filter to your watchlist, the tickers you hold, or hide symbols with open calls. - **Manage** every roll, expiration, and assignment across the full trade lifecycle, with assignment-aware roll analysis, safe-strike math, and live-chain roll preparation keeping each open position organized. - **Prove** your real performance with ledger-grade P&L, so you can answer "what is my options income actually earning?" — no matter how many times you've rolled, closed, or been assigned. The durable promise is not merely discovering the next contract — it is helping you **run an options-income strategy correctly over time**. That is why CoverEdge is built for what happens after the first trade: accurate premium, fees, cost basis, closes, assignments, rolls, and historical reporting that still hold up months later. The platform uses a ledger-first accounting model where every financial event — opening a trade, collecting premium, closing a position, or handling an assignment — is recorded as an immutable ledger entry. All P&L, income metrics, and position values are derived from this ledger, ensuring your P&L is always accurate — no matter how many times you've rolled, closed, or been assigned. This is easiest to see in a rolled position. Your broker reports a roll as isolated transactions — the buy-to-close often shows up as a standalone realized loss. CoverEdge keeps every leg linked as one connected roll chain, so the cumulative net P&L and effective cost basis stay correct through every adjustment. (CoverEdge's economic cost basis nets premium and fees and can differ from the brokerage or tax basis your broker reports; the two are not always identical.) CoverEdge is decision-support, not execution. Brokerage connections are read-only via SnapTrade — CoverEdge can read positions and option events but never places trades — so research and roll analysis inform your decisions while you stay in control of every order. ### Who CoverEdge is NOT For CoverEdge is purpose-built for premium sellers (covered calls and cash-secured puts). It is not designed for: - Day traders or scalpers - Stock pickers who don't sell options - Complex multi-leg spread strategies (iron condors, butterflies, strangles) - Naked options sellers without underlying positions - Crypto or futures options - Fully automated / algorithmic trading --- ## Core Features in Detail ### Opportunity Screener The Opportunity Screener at `/app/screener` is the in-app, full-market ranked list of every viable covered call and cash-secured put setup. It is the authenticated, no-row-cap counterpart to the public free screeners at `/tools/covered-call-screener` and `/tools/cash-secured-put-screener`. - **Top 100 ranked setups per side** — across the curated 230+ ticker universe, ranked by the canonical 0–100 Opportunity Score (the same engine behind Research and Rolls): it blends conservative bid-based income, assignment risk (delta), expected-move coverage, liquidity (spread & open interest), and time to expiration, minus an earnings-overlap penalty — so realistic, tradeable setups float above lottery-ticket deep-ITM contracts. Only contracts that clear the quality bar (open interest ≥ 50, spread ≤ 15%, positive bid) are shown. Each row carries a qualitative tier chip: Strong (≥72), Solid (62–72), Fair (50–62), Watch (<50). - **Two modes hosted on a single URL** — inline toggle between Covered Calls and Cash-Secured Puts. Annualized return is the executable (bid-based) premium against the capital actually at risk: the underlying share value for covered calls, the strike for cash-secured puts (cash-collateralized). - **Four personal-universe filter chips** — features no public screener can compute because they require auth: - **My watchlist** — intersect against `user_watchlist` (user-scoped, shared across portfolios) - **Tickers I own** — intersect against positions where shares > 0 in the active portfolio - **Hide tickers with open calls** — CC mode only; exclude any ticker with an OPEN call trade - **Best per ticker** — default ON; collapse to the highest-scoring strike per symbol with a `+N strikes` expander - **Inline `OWN` / `CALL` badges** on every row so users see at a glance which setups overlap their book. - **Row actions:** one-tap Watch ★ toggle to add/remove a symbol from the watchlist, and Analyze → that deep-links into `/app/research?symbol=TICKER&strategy=covered_call` (or `covered_put`, depending on mode). AI analysis starts immediately on arrival. - **Refresh cadence:** materialized view rebuilt at the tail of every 10-minute options-refresh cron tick during market hours. Holiday-aware via the NYSE calendar — no refreshes run on full-closure days, early-close days stop at 1:00 PM ET. This feature requires the CoverEdge Pro subscription (or active 14-day trial). Free users see the top 30 free preview on the public screeners; the personal-universe chips and watchlist star are Pro-only. ### Research The Research page helps users find covered call and covered put opportunities across weekly options. It provides: - **Delta filtering**: Screen by delta range to match risk tolerance (conservative: 0.15–0.25, balanced: 0.25–0.35, aggressive: 0.35–0.45) - **DTE (Days to Expiration)**: Focus on weekly or near-term expirations - **Premium and yield metrics**: See raw premium, annualized yield %, and buffer (distance to strike as % of current price) - **Technical signals**: RSI (Relative Strength Index), IV percentile (Implied Volatility percentile rank), and price trend indicators - **Buffer-clearing strike suggestion**: when a candidate's strike sits inside the option's expected move (elevated assignment risk), the Technical Summary names a concrete safer strike — with its real delta, buffer %, and premium — that would sit outside the expected move, so the income-vs- safety tradeoff is explicit rather than a bare warning - **Earnings proximity warnings**: Flag tickers with upcoming earnings that could cause assignment risk - **Analyst sentiment**: Aggregated analyst ratings and consensus - **Watchlist filtering**: Filter results to show only tickers on your personal watchlist - **Risk presets**: One-click conservative, balanced, and aggressive screening profiles This feature requires the CoverEdge Pro subscription. ### AI-Enhanced Analysis CoverEdge ships AI in two modes — Managed by default, BYOK by choice. AI output is informational analytics only, not investment advice or a recommendation to trade any security: **Managed AI (default for all Pro / trial users)** - Uses CoverEdge's platform-owned OpenAI key (`gpt-4o-mini`) — no setup, no API key required - A new user signing up sees AI-enriched research on their very first run with zero configuration - Per-user daily quota: 200 calls/day on trial, 500 calls/day on paid Pro (metered in `ai_usage_daily`) - AI insights are generated for the **top 8 candidates** per screening run (covers a full default page) - Sensible default for the 95% of users who don't want to manage an API key **BYOK fallback (power users)** - Toggle in Settings → AI to switch to your own API key from: - **OpenAI** (GPT-4o and newer models) - **Anthropic** (Claude) - **Google Gemini** - No platform quota — billed directly by your chosen provider - Full provider/model choice - **Unlocks AI insights on every candidate** in a screening run (not just the top 8) — ideal for users who want exhaustive coverage on their entire watchlist - Keys are encrypted at rest with AES-256-GCM and never leave the server When AI is active (either mode), the Research page enriches its results with: - AI-generated trade summaries that synthesize technical data, recent news, and market context - Risk assessment narratives - Natural-language explanations of why a trade may or may not be favorable - Company-specific and sector-wide news integration The AI insight is grounded in the full candidate context, not a headline-only summary. The prompt includes live price action, the technical baseline, symbol-specific and general market news, analyst sentiment, the key option metrics (delta, buffer, expected move, RSI, IV percentile, earnings proximity, assignment risk, annualized yield), the user's cost basis / position size when they hold the underlying, and the same Company Snapshot fundamentals shown on the card (market cap, P/E, net margin, ROE, revenue growth, debt/equity, dividend yield, beta, 52-week range). The AI reads the same data the user sees. When a symbol's fundamentals are unavailable, both the on-card Company Snapshot panel and the AI's fundamentals block are omitted together. The rule-based baseline analysis (technical signals, scoring, flags) is always available even when both AI modes are off — the AI enhances but never replaces the core signals. This feature requires the CoverEdge Pro subscription (or active 14-day trial). ### Roll Analysis When options approach expiration, CoverEdge provides assignment-aware roll analysis. The system evaluates each expiring trade and surfaces one of four scenario observations (informational signals, not instructions to trade): - **Let Assign**: Flags when assignment currently appears favorable (e.g., shares above cost basis) - **Let Expire**: Flags when the option is far enough out of the money to expire worthless safely - **Roll**: Flags when rolling to a new expiration may be worth considering given current conditions - **Review**: Flags when the situation is ambiguous and warrants the user's own judgment These are observations about the data — the user decides what, if anything, to do. Roll analysis includes: - **Assignment-aware strike target**: For calls, the minimum strike that avoids selling shares below the tracked basis; for puts, the maximum assignment strike supported by accumulated premium - **Recovery tracking**: What percentage of the original cost basis has been recovered through premium - **Live-chain roll candidates**: Reads the live option chain and, when it clears the safe strike, surfaces a specific target strike + expiration right on the roll card - **Compare choices**: Advisory close/open mids across every eligible expiration, each with a "Closest preference match" based on the user's saved DTE and risk filters — always available on a Roll card even when no single candidate is auto-selected - **Guided execution handoff**: Carries an exact candidate into a two-leg roll ticket. Connected users sync actual brokerage fills; manual users enter actual close/open fills and fees. Estimates never become ledger activity automatically. This feature requires the CoverEdge Pro subscription. ### Income Dashboard The income dashboard provides visual analytics for premium income: - **12-week income chart**: Bar chart showing weekly premium collected - **Average weekly premium**: Rolling average across tracked weeks - **Best week tracking**: Highlights the highest-income week - **Week-over-week deltas**: Shows income trend direction - **Annualized ROI**: Projects annual return based on recent performance - **Return on capital (annualized)**: Premium income expressed against the capital actually at risk — cash-secured put collateral plus covered-call cost basis — surfaced on both the Dashboard and Income pages so you can answer "what's my return %?". Premium-only by design: it measures the income engine, and excludes unrealized share price gains/losses (stock buys/sells aren't ledgered) - **$/day efficiency**: Measures premium collected per calendar day - **30-trade rolling win rate**: Win rate analysis across the most recent 30 closed trades This feature requires the CoverEdge Pro subscription. ### Personal Strategy Insights A dedicated page (`/app/insights`, CoverEdge Pro) that analyzes patterns across your own completed trades — separate from the Income dashboard's cash-flow view: - **Pattern comparison**: Median-based analysis of DTE × premium-capture combinations, with honest sample-size guardrails (Early / Developing / Supported) so a small streak is never mistaken for a rule, measured against your own same-strategy baseline - **Entry-context heatmaps**: Two deterministic grids per strategy — entry DTE × delta and entry DTE × contract IV — showing your median return on capital in each cell, built only from the going-forward entry snapshots CoverEdge captures (never backfilled) - **Complete strategies vs Individual legs**: A grouping toggle so a rolled-away leg is never mislabeled a loss (Complete strategies collapses a roll chain into one outcome; Individual legs evaluates each completed contract separately), then drill into the exact completed trades behind any pattern - **AI Strategy Summary**: A Pro, experience-aware, cached LLM call near the top of the page that reads your whole history — both grouping views and both entry-context heatmaps — and explains it in plain language. It is grounded ONLY in a privacy-safe aggregate digest (never a symbol or trade id), forbidden from recommending a trade or calling any pattern "optimal," and framed as historical observation. It appears only when AI is available; otherwise the deterministic cards are the full picture - **Download trade CSV**: An analysis-ready, one-row-per-leg export with shared roll-chain ids, distinct from the accounting Ledger CSV ### Trade Lifecycle Management CoverEdge tracks the complete lifecycle of each option trade: 1. **OPEN**: Trade is opened, premium is recorded as a ledger entry 2. **CLOSED**: Trade is closed (buy to close), cost is recorded 3. **EXPIRED**: Option expires worthless, full premium is profit 4. **ASSIGNED**: Option is exercised, shares are called away (calls) or put to the user (puts) 5. **ROLLED**: Trade is closed and a new position is opened at a different strike or expiration Both covered calls and covered puts are fully supported with the same lifecycle tracking. ### Ledger-First Accounting The ledger is the immutable single source of truth. Every financial event creates a ledger entry: - **OPTION_PREMIUM**: Credit received when opening a trade (selling the option) - **OPTION_CLOSE**: Debit paid when closing a trade (buying to close) - **ASSIGNMENT**: Records an assignment event with impact on position cost basis Ledger entries are never deleted or modified. Position values, income totals, and P&L are all derived by aggregating ledger entries. This ensures: - Complete audit trail of every dollar - No hidden state mutations - Accurate cost basis calculations via the `recalc_position_basis` function - Reliable realized P&L tracking ### Roll Chains & Chain P&L When a trade is rolled (closed and reopened at a new strike/expiration), CoverEdge maintains the full chain: - Each roll creates a new trade linked to the previous one - The chain shows cumulative net P&L across all legs (the original trade plus all subsequent rolls) - Cadence tracking summarizes how the user's roll timing (DTE at each leg) has played out over the chain - The Compare view reads the live option chain across every eligible expiration so the next roll can be prepared with an exact strike, expiration, and estimated mids ### Brokerage Sync CoverEdge connects to the major US & Canadian options brokerages via SnapTrade integration: - **Read-only access**: CoverEdge can view positions but never place trades - **Automatic position import**: Sync stock positions from your brokerage account - **Auto-sync on login**: For Pro and active-trial users, fresh trades, premiums, and assignments import automatically the next time you open CoverEdge. Server-gated — auto-import only runs when data is more than 4 hours old, and the manual **Sync Trades** button remains for on-demand refreshes. Free users get the manual button only. - **Supported brokerages**: Schwab, Fidelity, Robinhood, E\*TRADE, Interactive Brokers, tastytrade, Webull, and Alpaca. Because CoverEdge is an options-income platform, the list is scoped to the brokerages SnapTrade supports for option positions and option events (assignments, expirations, exercises). SnapTrade can connect other brokerages, but those don't report options activity, so they won't auto-import — you can still use CoverEdge with those by logging trades manually. - **Bank-grade encryption**: All connections are secured via SnapTrade's infrastructure - No brokerage credentials are ever stored by CoverEdge ### Built-in Learning Center CoverEdge includes a comprehensive learning center with 26 guided lessons organized in four tracks: **Track 1 — Options Fundamentals**: - Options Basics: What are calls and puts, how they work, key terminology - Key Metrics Explained: Delta, IV, RSI, premium, buffer, annualized yield **Track 2 — Strategies & Risk**: - Covered Calls: Strategy mechanics, when to use, risk management - Covered Puts: Cash-secured put strategy, assignment scenarios - Income Strategy & Risk: Income planning, the wheel strategy, portfolio-level risk **Track 3 — Platform Mastery**: - Using the Research Page: How to use filters, interpret signals, and screen effectively - Finding Opportunities: The full-market Opportunity Screener — top 100 ranked covered call and cash-secured put setups, personal-universe filter chips, and one-tap watchlist - Understanding Roll Recs: The four recommendations, past expirations & bulk-expire, position linking, roll plans, AI insights - AI Guidance in CoverEdge: How Managed AI works (default for Pro/trial users), when to switch to your own API key (BYOK), and how the quota meter works - Connecting Your Brokerage: SnapTrade sync — what's read-only, how reconciliation works, how to disconnect - Tracking Trades & the Ledger: The ledger-first accounting model, trade lifecycle (OPEN → CLOSED / EXPIRED / ASSIGNED / ROLLED), entry types, roll chains - Positions, Basis & Assignments: Why cost basis matters, how to seed it, put basis, position linking, the assignment workflow - Personal Strategy Insights: Median-based DTE × premium-capture pattern analysis over your own completed trades, with sample-size guardrails (Early / Developing / Supported), a Complete strategies vs Individual legs grouping toggle, and the experience-aware AI Strategy Summary — historical observations, never recommendations - Entry-Context Pattern Heatmaps: DTE × delta and DTE × contract-IV grids of your median return on capital, built from the market context captured when each trade was opened (never backfilled), tinted against your own same-strategy baseline and shaded by sample-size reliability; roll chains are attributed to their original entry **Track 4 — Account & Subscription**: - CoverEdge Pro & the 14-Day Trial: What's free vs Pro, the no-card trial flow, adding a card, managing the Stripe subscription, what happens after the trial - Settings & Preferences: Tour every Settings card — billing, 2FA, notifications, Risk Profile, options experience level (Experience & display), weekly timing, market data sources, and AI provider - Income & Realized P&L: Where premium income lives, how realized trades are recorded, how to backfill historical activity - Notifications & Alerts: Email templates (opportunity alerts, Monday Setups, trial reminders), opt-in defaults, in-app banners - Account Security: TOTP 2FA enrollment, passkey (WebAuthn) sign-in, session handling, what CoverEdge does behind the scenes (RLS, encryption, HTTPS) - Getting Help & Support: How to reach a human from inside the app via the Help & Support page, what the optional diagnostics attachment includes (and never touches), and how to write a request that gets a fast, useful answer - Closing Your Account: The two consent-driven closure tiers — "Scrub & keep contact" (wipes all financial/PII data, purges the brokerage link, keeps your email so you can return to a clean slate) and "Erase everything" (full account + email deletion, suppression-listed so we never re-contact you), plus the SnapTrade disconnect and the 30-day window Total learning time: approximately 152 minutes. All 26 guides are available free to every user — Pro-gated tools (Research, Roll Recs, AI insights) are explained with the 14-day no-card Pro trial as the access path. ### Options Experience Level CoverEdge lets each user choose how much the product explains itself. The Options experience preference offers three action-oriented choices — "I'm learning the basics," "I understand the fundamentals," and "I'm an experienced options trader." The selection is a presentation preference only: it adapts the verbosity of helper copy, the writing style of AI-generated prose on Research and Rolls, and the explanation depth of the Monday Setups and Opportunity Alert emails (canonical terms like delta, DTE, and premium always stay visible so users still learn the real vocabulary). It never changes what CoverEdge calculates, screens, or recommends, and it is deliberately independent of the Risk Profile — an experienced trader can be conservative, and a beginner can choose aggressive settings. The question is asked as the opening, skippable step of the Getting Started onboarding checklist (skipping keeps the neutral "fundamentals" default) and can be changed anytime in Settings → Experience & display. ### Dark Mode CoverEdge ships full light / dark / system theme support across the entire authenticated app and marketing surfaces. The dark palette is deliberately tuned as a deep-slate theme (a faint blue chroma rather than a flat gray inversion) so the UI reads as an intentional fintech dark mode, with the brand-blue accents, KPI stripes, and status badges all carrying dark-mode-aware variants. Users toggle Light / Dark / System from the account menu; the preference persists per device and respects the OS setting when set to System. ### Mobile & Responsive CoverEdge is a fully responsive web app that works in any modern mobile browser — no native app to install. Layouts, tables, charts, and forms adapt fluidly from phones to tablets to desktops, so you can check positions, log a roll, review income, or run research on the go. The same account, data, and features are available across every device; there is no reduced "mobile" feature set. ### Email Notifications CoverEdge provides two opt-in-defaulted opportunity emails, both controlled by a single "Opportunity alerts" toggle in Settings → Notifications: - **Monday Setups**: A Monday-morning shortlist (sent ~10:45 AM ET, after the open settles) of up to two actionable setups — a covered call on shares you own and/or a cash-secured put drawn from your watchlist or the broader market (Monday Setups is the only email that surfaces broader-market discovery). Each card shows the strike, expiration, premium, period return, strike cushion, and assignment / secured-cash math, and deep-links to that exact contract in Research. It is strictly scoped to your saved Preferred DTE window and never widens it; when nothing in range clears the screen it sends a short "no match" note rather than skipping silently. - **Opportunity Alert**: A Tuesday–Friday email surfacing up to four genuinely new covered call or cash-secured put contracts — only on symbols you already own or watch (never an unfamiliar symbol). Covered calls appear only on shares you can actually write against, a contract already emailed won't reappear for a 7-day novelty cooldown, and the alert is scoped to your saved Preferred DTE window with a fixed liquidity/spread quality gate. If nothing new qualifies in range, no email is sent that day. Both emails rank candidates by the same 0–100 Opportunity Score used across Research, Rolls, and the Screener — bid-based income, assignment risk, expected-move coverage, liquidity, and duration, minus an earnings-overlap penalty — so a realistic, tradeable setup always outranks a high-yield lottery ticket. Both link to the exact contract in Research and adapt their explanation depth to the reader's options-experience level (the selection and numbers are identical at every level — only the wording changes). This feature requires the CoverEdge Pro subscription (or an active 14-day trial). --- ## Pricing ### CoverEdge Pro — 14-day free trial (no credit card required) Every new user lands directly in CoverEdge Pro on signup with the full feature set unlocked for 14 days. **No payment method is required up-front.** The trial is app-managed via `trial_started_at` / `trial_ends_at` columns on `user_preferences` — Stripe is only involved if and when the user adds a card. Users who don't add a card automatically drop to the Free tier when the trial ends; there are no surprise charges. Trial users get the same Pro feature set listed below, plus daily reminder emails at D-7, D-2, and D-0 (sent via the `/api/notifications/trial-reminders` cron at 3:00 PM UTC daily). ### CoverEdge Pro — $19.99/month Everything in Free, plus: - Research with technical signals and news - AI-enhanced summaries (Managed AI included by default — no API key required; BYOK toggle for OpenAI / Anthropic / Google Gemini) - Assignment-aware roll analysis - Expiration review with safe strike calculations - Income dashboard with weekly charts - Annualized ROI and $/day efficiency scoring - Return on capital (annualized) — premium income vs. capital at risk, on Dashboard + Income - Personal Strategy Insights (Pro) — median-based DTE × premium-capture pattern analysis over your own completed trades, with sample-size guardrails, a Complete strategies vs Individual legs grouping toggle, entry-context DTE × delta / DTE × IV heatmaps, an experience-aware AI Strategy Summary (privacy-safe, historical observation only), and a per-leg Trade Performance CSV export that (as of September 2026) also carries the entry/close market context — underlying price, delta, IV, theta — captured going-forward at open/completion and never backfilled onto older trades - 30-trade rolling win rate analysis - Live-chain roll preparation and cumulative chain P&L tracking - Email notifications: a Monday Setups shortlist (up to two actionable setups each Monday) plus a Tuesday–Friday Opportunity Alert of genuinely new contracts on symbols you own or watch (one shared toggle) - Cancel anytime via Stripe customer portal ### Free Tier - Core trade tracking (open, close, expire, assign, roll) - Ledger-first P&L accounting - Position management with cost basis tracking - Portfolio management (multi-portfolio support) - Built-in Learning Center (all 26 lessons across 4 tracks) - Brokerage sync via SnapTrade - No credit card required - No time limit --- ## Technical Architecture - **Framework**: Next.js (App Router) with TypeScript - **Database**: Supabase (PostgreSQL with Row-Level Security) - **Authentication**: Supabase Auth (email/password, magic links) - **Payments**: Stripe (subscription billing) - **Market Data**: Institutional-grade market data providers (primary + automatic fallback) - **Brokerage Integration**: SnapTrade SDK - **AI/LLM Providers**: OpenAI, Anthropic, Google Generative AI (user brings own key) - **AI Performance Layer**: Per-card streaming via React Suspense + tiered Managed/BYOK budget + persistent `ai_guidance_cache` (Supabase) keyed by prompt-state SHA-256 fingerprint so AI insights on `/app/research` and `/app/rolls` survive cold starts, navigation, and other tabs. Cache TTL is dynamic — 60 min while the market is open, 24 h after close — with a daily prune cron at 03:00 UTC. - **Market Data Cache**: Background Vercel crons populate `market_quotes`, `option_snapshots`, `company_news_cache`, `stock_sentiment_cache`, `earnings_cache`, and `price_history_daily` so Research / Roll Recs read from Supabase instead of hitting the market-data provider on every page load. Dynamic TTL keeps after-hours requests cache-bound; an admin "Market data health" panel surfaces per-feed last-run age + symbol counts. - **Email**: Resend - **Deployment**: Vercel (with Vercel Web Analytics + Speed Insights for cookieless, privacy-first traffic and Core Web Vitals monitoring) - **Security**: AES-256 encryption, RLS, SOC 2-compliant infrastructure, CSP headers, HSTS, Sentry production error monitoring --- ## Security & Privacy CoverEdge takes security seriously: - **Passkeys (WebAuthn)**: Passwordless, phishing-resistant sign-in built on the WebAuthn standard. Register passkeys from Settings (Touch ID, Face ID, Windows Hello, password managers, hardware keys) and sign in with one tap — no password to type or phish. A passkey replaces the password (primary auth), not the second factor: users with TOTP 2FA enabled still complete the MFA challenge after a passkey sign-in, so both layers stack. - **Two-factor authentication (MFA)**: TOTP-based 2FA via any authenticator app (Google Authenticator, Authy, 1Password, etc.). When enabled, MFA is enforced at every access point — not just login. Persistent dashboard nudge encourages enrollment. - **Self-service password change**: Change your sign-in password anytime from Settings → Security. Your current password is verified before the change is applied, the update keeps you signed in on the device and leaves your 2FA / passkeys intact, and a confirmation email is sent on every change. No support ticket or reset email required. - **Idle session timeout**: Automatic sign-out after inactivity (15 min desktop / 10 min mobile) with a 2-minute countdown warning dialog. Aligned with PCI DSS and NIST SP 800-53 guidelines. - **Encryption**: AES-256 encryption for all sensitive data at rest. TLS 1.2+ for data in transit. Encryption key rotation supported without downtime. - **Row-Level Security (RLS)**: Every database table has RLS policies. Users can only access their own data, enforced at the database level. - **Data isolation**: All queries are scoped by `user_id` and `portfolio_id`. Cross-portfolio data access is impossible. - **Consent-first analytics & advertising**: Optional cookies are off until the visitor opts in via the cookie banner. Analytics is Google Analytics 4; advertising is the Meta (Facebook) Pixel, loaded only on public marketing/sign-in pages — never inside the authenticated app, and never with portfolio, trade, or financial data or Advanced Matching. Visitors can withdraw anytime via the footer Cookie settings control, and Global Privacy Control is honored for advertising. Cookieless Vercel Web Analytics + Speed Insights are always on. CoverEdge does not sell user data for money. - **AI key security**: User-provided AI API keys are encrypted at rest and never leave the server. - **Brokerage security**: Brokerage connections are read-only via SnapTrade. CoverEdge never has trading access and never stores brokerage credentials. - **Infrastructure**: Hosted on SOC 2-compliant, audited cloud infrastructure (Supabase for database, Vercel for application hosting). - **Security headers**: Content Security Policy (CSP), HTTP Strict Transport Security (HSTS), X-Frame-Options DENY, and other hardening headers. - **Error monitoring**: Production errors are captured by Sentry (off-site, SOC 2-compliant) for fast alerting and de-minified stack traces, and mirrored into a service-role-only `server_errors` table for in-app admin browsing. Both flows share the same `logServerError()` helper. --- ## Frequently Asked Questions ### What is CoverEdge? CoverEdge is a web-based platform for retail investors who sell covered calls and covered puts. It packages the premium-selling workflow into three jobs — **find** opportunities that fit the positions you already own, **manage** every roll and assignment across the full lifecycle, and **prove** your real performance with ledger-first income tracking — with AI-enhanced analysis built in. The bigger goal is running an options-income strategy correctly over time, not just spotting the next contract. CoverEdge is a decision-support tool, not a registered investment adviser; it does not tell users what to buy, sell, or hold. ### Is CoverEdge free? Yes. Every new account starts on a 14-day full-feature CoverEdge Pro trial — no credit card required. After the trial, users automatically move to the free tier, which includes core trade tracking, ledger-first P&L, position management, brokerage sync, and the full learning center. The CoverEdge Pro plan ($19.99/month) unlocks Research, AI analysis, roll analysis, and income analytics. ### Do I have to enter a credit card to start the trial? No. CoverEdge runs an app-managed trial — you sign up with email/password (or magic link), instantly land in Pro, and get 14 days of full access without ever touching Stripe. We only collect payment info when (and if) you decide to subscribe. ### What brokerages does CoverEdge support? CoverEdge supports the major US & Canadian options brokerages via SnapTrade — Schwab, Fidelity, Robinhood, E\*TRADE, Interactive Brokers, tastytrade, Webull, and Alpaca. Because CoverEdge is built for options income, the list is scoped to brokerages that report option positions and option events (assignments, expirations, exercises). All connections are read-only — CoverEdge can view positions but never place trades. ### How does the AI analysis work? CoverEdge ships AI in two modes. **Managed AI** is the default for all Pro and trial users — CoverEdge runs OpenAI's `gpt-4o-mini` against a platform-owned key with a per-user daily quota (200/day on trial, 500/day on paid Pro), so users get AI-enriched research immediately with zero setup. **BYOK** is a one-toggle switch in Settings → AI for power users who prefer to bring their own API key from OpenAI, Anthropic, or Google Gemini — no quota, full provider/model choice. BYOK keys are encrypted with AES-256-GCM at rest and never leave the server. Either way, the AI integrates stock news, technical data, and market context to generate informational trade summaries and risk observations. These summaries are educational analytics, not investment advice or a recommendation to trade any security. ### How is the free covered call screener different from the in-app Opportunity Screener? The free `/tools/covered-call-screener` and `/tools/cash-secured-put-screener` pages show the top 30 ranked setups across CoverEdge's 230+ ticker universe — no signup required. Inside the app, the Opportunity Screener at `/app/screener` (Pro) shows the full top 100 with no row cap, plus four personal-universe filter chips no public screener can compute: My watchlist, Tickers I own, Hide tickers with open calls, and Best per ticker. Each row deep-links into AI-powered Research with the strategy carried over. Same ranking engine, but the authenticated surface adds your portfolio context and a one-tap watchlist star on every row. ### Does CoverEdge support covered puts? Yes. CoverEdge is one of the few platforms that fully supports covered puts (cash-secured puts) alongside covered calls. Both strategies get full lifecycle tracking, roll analysis, and P&L accounting. ### Is my data secure? Yes. CoverEdge uses AES-256 encryption, Row-Level Security at the database level, and runs on SOC 2-compliant infrastructure. Optional analytics (Google Analytics 4) and advertising (the Meta Pixel, public pages only) cookies stay off until you opt in via our cookie banner, and you can withdraw anytime via the footer Cookie settings control (Global Privacy Control honored for advertising). Cookieless Vercel Web Analytics + Speed Insights are always on. We never send advertising partners your portfolio, trade, or financial data, and we don't sell your data for money. See https://coveredge.io/security for full details. ### Do I need to pay separately for AI features? No — not on Managed AI. Pro users (including 14-day trial users) get AI-enhanced analysis included with their subscription via CoverEdge's Managed AI mode. There's a generous daily call quota (200/day on trial, 500/day on paid Pro) covered by the $19.99/mo Pro fee — no separate AI bill. Power users who'd rather use their own key can toggle to BYOK in Settings → AI; in that mode AI usage is billed directly by your chosen provider (OpenAI, Anthropic, or Google Gemini) with no markup from CoverEdge. AI features are entirely optional; all rule-based research signals, roll analysis, and trade tracking work even with both AI modes off. ### What is ledger-first accounting? In short: your P&L is always right, no matter how complex your trade history gets. Instead of maintaining position snapshots that can drift or become inconsistent, CoverEdge records every financial event (premium collected, trade closed, assignment) as an immutable ledger entry. All P&L and position values are derived from the ledger, ensuring audit-grade accuracy even after dozens of rolls. It is clearest in a rolled position: where your broker reports the buy-to-close as an isolated realized loss, CoverEdge keeps every leg linked as one roll chain so the cumulative net P&L and effective cost basis stay correct. (That economic basis nets premium and fees and can differ from the brokerage or tax basis your broker reports.) ### What is CoverEdge Pro? CoverEdge Pro is CoverEdge's premium subscription ($19.99/month) that unlocks Research, AI-enhanced analysis (Managed AI included by default), roll analysis, income analytics, Personal Strategy Insights, and email notifications. Every new account starts on a 14-day full-feature Pro trial — no credit card required up-front. Users only enter a payment method when they decide to continue past the trial. ### Can CoverEdge place trades on my behalf? No. CoverEdge is a tracking and research platform only. Brokerage connections via SnapTrade are strictly read-only. CoverEdge never has trading access to your brokerage account. ### What is a roll in options trading? A roll is when you close an existing option position and simultaneously open a new one, typically at a different strike price or expiration date. Rolling is a common strategy to avoid assignment, extend income generation, or adjust to changed market conditions. CoverEdge tracks the full roll chain as one connected position with cumulative P&L across all legs — so a roll your broker reports as an isolated realized loss stays part of one accurate, ongoing strategy record. --- ## Blog & SEO CoverEdge publishes an educational blog at https://coveredge.io/blog with 43 SEO-optimized posts targeting covered call and options income keywords. Posts are published on a 2/week cadence and cover: - What Is a Covered Call? — beginner guide with payoff diagrams - Covered Call Tracker vs Spreadsheet — comparison of tracking methods - The Wheel Strategy Explained — step-by-step walkthrough - Best Stocks for Covered Calls — ticker analysis with IV and liquidity criteria - How to Pick Strike Price — delta-based decision framework - Theta Decay Explained — time decay mechanics for premium sellers - Covered Call Assignment Guide — what happens and how to handle it - Track Options Premium Income — pro methods for income tracking - Rolling Covered Calls — when, why, and how to roll - Covered Call Calculator — formulas for annualized yield, breakeven, max profit - CoverEdge vs Alternatives — platform comparison - Covered Call Mistakes — 7 common errors to avoid - Cash-Secured Puts: The Complete 2026 Guide — mechanics, examples, and the put side of the wheel - Best Stocks for Cash-Secured Puts — how to screen for liquidity, IV, price, and support, with ticker examples - Best Dividend Stocks for Covered Calls — stacking dividends and premium, plus the ex-dividend early-assignment trap - Best Stocks for Weekly Covered Calls — deepest weekly option chains and managing gamma risk - Best Stocks Under $50 for Cash-Secured Puts — low-priced picks for small accounts and staying diversified - Best High-IV Stocks for Covered Calls — richest premiums and how to size the volatility risk - Best Stocks for the Wheel Strategy — names that work on both the put and call side of the cycle - Best Stocks for the Poor Man's Covered Call (PMCC) — liquid, uptrending names with deep LEAPS - Covered Call Taxes Explained — wash sales, holding-period traps, and 1099-B reconciliation - JEPI & QYLD vs Selling Your Own Covered Calls — after-tax, after-effort comparison of ETFs vs DIY premium selling - The Poor Man's Covered Call (PMCC) — using a LEAPS as a stock substitute for capital-efficient income - IV Rank vs IV Percentile — which volatility metric premium sellers should actually use - Covered Calls Around Earnings — the three approaches and the IV crush trap - From Free Screener to Your Watchlist — turning ranked covered call / cash-secured put setups into tracked income via the free screener, the in-app Opportunity Screener, and your watchlist - How to Track Rolled Options Positions — tracking a rolled position as one roll chain so cumulative P&L and cost basis stay accurate no matter how many times you roll - How to Track Options Expiration Dates — the DTE / moneyness / assignment-risk data to watch and a weekly review routine so no position ages out into an unplanned assignment - How to Track Options Across Multiple Brokerage Accounts — one consistent, tax-accurate system for positions scattered across a Roth, a taxable account, and multiple brokers (one account per portfolio, no blended total by design) - What Information Should You Track for Every Options Trade — the full per-trade checklist (entry fields, close/roll/assignment outcomes, and the "why" notes) that keeps P&L and taxes accurate - What Metrics Should You Track to Improve Your Options Trading — the seven performance metrics beyond win rate (net income, capital at risk, return on capital, annualized ROI, $/day, rolling win rate, recovery %) and why win rate alone is a vanity metric - High Covered Call Yield Isn't Free — an original data study of 93 live covered call setups held at a comparable ~0.30 delta and 7–14 DTE, showing a 0.96 correlation between implied volatility and yield (top-yield quartile paid ~3.8× the premium on ~4× the IV) and what it means for position sizing - Options Trading Dashboard: 8 Features That Actually Matter — the features that make an options dashboard genuinely useful (a decision queue, complete trade lifecycle, roll-chain continuity, ledger-backed net P&L, freshness with timestamps, portfolio/account separation, capital- and time-aware metrics, and auditable brokerage sync), the impressive-looking features that usually aren't (widget overload, streaming everything, opaque scores, AI prose with no source trail), and a 5-minute test to evaluate any tracker. - Real-Time Options Tracking: What Actually Needs to Be Live? — which options data must be fresh intraday (underlying price, option bid/ask, delta/IV, moneyness/DTE), which context can lag, and why trade history (premium, roll-chain P&L, assignments, cost basis) is a settled ledger fact that should never be recomputed from a moving quote - Covered Call Liquidity: Reading Spreads, Open Interest & Volume — a beginner-to-intermediate guide to judging whether an option is genuinely tradeable using the bid-ask spread (as a percentage of the midpoint), open interest, and volume, why illiquid chains quietly tax every roll, and the habit of always using limit orders - When Should You Close a Covered Call Early? — how to weigh profit already captured against the premium, time, and assignment risk still remaining, why the "close at 50% profit" rule is a review checkpoint rather than a law, how DTE and the event calendar change the call, and a five-question early-close checklist - Cash-Secured Put Assignment: What Happens, Cost Basis & Next Steps — what happens to your reserved cash and shares when a put is assigned, why the effective cost basis is strike minus premium (not the strike), why assignment isn't automatically a loss, how put early assignment differs from calls (no ex-dividend trigger), and the four choices afterward including selling a covered call to start the covered-call side of the wheel - How to Roll a Cash-Secured Put: Down, Out, or Take Assignment? — how to buy to close the old put and sell to open a new one at a later expiration and/or lower strike, the net-credit and cumulative chain math, the down / out / down-and-out choices with a worked example, when accepting assignment or a clean close beats rolling, when a small net debit is still rational, and why a roll changes the contract without erasing the realized result on the old leg - Best DTE for Covered Calls: 7, 21, 30, or 45 Days? — why there is no universally best expiration, how 7–14 / 21–30 / 30–45 DTE trade off premium, time decay, gamma/assignment risk, and management load, the annualized-return trap (a shorter contract can look best annualized while collecting far fewer dollars and demanding more fills), and a seven-step framework + checklist for choosing a window from the live option chain rather than a favorite number - Risks of Selling Covered Calls: What Can Go Wrong? — the seven real risks (stock downside, capped upside/opportunity cost, assignment below cost basis, early assignment around ex-dividend dates, rolling that compounds a loss, illiquid spreads, and holding-period/wash-sale tax surprises), a three-scenario payoff table, who bears them most, and a practical checklist for keeping each in check - CoverEdge Monday Screen: Options Setups for August 31, 2026 — the first edition of a weekly public series that runs a fixed public universe of liquid stocks/ETFs through the same 0–100 Opportunity Score as the free screeners, frozen at one timestamped snapshot; walks through one covered call (BE) and one cash-secured put (IREN) with the strike cushion, collateral, effective cost basis, and assignment math beside every headline yield, and explains why a high annualized yield on a high-IV name is priced risk rather than free income. Uses no private user data and is educational commentary, not a recommendation - Covered Call vs Cash-Secured Put: Which Strategy Fits? — why a covered call and a cash-secured put at the same stock, strike, and expiration can produce nearly identical payoffs (with a worked same-strike example and a shared $46.50 breakeven), and why the real choice is your starting point and goal rather than the headline premium: own shares you will sell (call) vs hold cash to buy lower (put), which direction assignment runs, capital and return-on-capital, and how the two become the wheel when run in sequence - Covered Call Graph: How to Read a Payoff Diagram — how to read the covered-call payoff diagram left to right (loss zone, break-even where the line crosses zero, rising profit to the strike, flat cap above it), the four formulas the curve is drawing (break-even, max profit, max loss, P&L below the strike), a worked $50-basis / $55-call / $2-premium example with a scenario table, why max profit is premium plus the gain to the strike rather than premium alone, and why the expiration graph differs from your live account value before expiration Each post features hero images, BlogPosting + BreadcrumbList JSON-LD structured data (plus VideoObject on posts that embed a how-to video walkthrough), dynamic OG images for social sharing, and a CTA for CoverEdge signup. Posts are statically generated at build time. --- ## Options Trading Glossary - **Covered Call**: An options strategy where a trader sells a call option against shares they already own, generating premium income. - **Covered Put (Cash-Secured Put)**: Selling a put option with enough cash set aside to buy the shares if assigned. - **Premium**: The income received when selling (writing) an option contract. - **Strike Price**: The price at which the option can be exercised by the buyer. - **DTE (Days to Expiration)**: The number of calendar days until an option contract expires. - **Delta**: A measure of how much an option's price changes relative to the underlying stock's price. Also approximates the probability of the option expiring in the money. - **IV (Implied Volatility)**: The market's forecast of how much a stock's price will move, embedded in the option's price. Higher IV means higher premiums. - **IV Percentile**: Where the current IV sits relative to the stock's IV range over the past year. - **RSI (Relative Strength Index)**: A momentum indicator measuring the speed and magnitude of price changes. Values above 70 suggest overbought; below 30 suggest oversold. - **Assignment**: When the option buyer exercises the option. For covered calls, the seller's shares are "called away." For puts, the seller must buy the shares at the strike price. - **Roll**: Closing an existing option and opening a new one at a different strike and/or expiration. - **Theta Decay**: The rate at which an option loses value as it approaches expiration. Premium sellers benefit from theta decay. - **Buffer**: The percentage distance between the current stock price and the option's strike price. - **Annualized Yield**: The premium income projected as an annual return percentage. --- ## Free Tools (no login required) CoverEdge maintains several free, public tools at `/tools/*` as a no-login entry point for searchers who want to run the math before signing up. - **Covered Call Calculator** (`/tools/covered-call-calculator`) — picks a ticker from the curated 200-symbol allowlist, pulls live underlying + chain data, and computes static premium, annualized yield, downside buffer, and assignment ROI. 51 ticker-specific landing pages (AAPL, NVDA, TSLA, SPY, QQQ, NFLX, AVGO, MSTR, JEPI, SCHD, etc.) live at `/tools/covered-call-calculator/[ticker]` for high-intent per-ticker queries. - **Cash-Secured Put Calculator** (`/tools/cash-secured-put-calculator`) — the puts-side sibling of the covered call calculator. Picks a ticker from the same 200-symbol allowlist, pulls the live put chain, and computes premium received, cash collateral required (strike × 100), effective cost basis, breakeven, downside buffer, and annualized yield computed against the strike. 51 ticker-specific landing pages live at `/tools/cash-secured-put-calculator/[ticker]`. Backed by a dedicated puts-only `/api/tools/put-chain` route (sibling of the calls-only `/api/tools/chain`). - **Covered Call Screener** (`/tools/covered-call-screener`) — ranks every covered-call setup across the full 200-ticker universe by a 0–100 Opportunity Score (bid-based income, assignment risk, expected-move coverage, liquidity, and duration, minus an earnings penalty), so realistic, tradeable setups float to the top instead of lottery-ticket deep-ITM contracts. Filterable by min annualized yield, exclude-earnings-week, stock/ETF. Free tier shows the top 30 setups; the rest are blurred behind a "Start free trial" CTA. Each row deeplinks to the matching calculator page. Three filtered landing pages narrow the live ranked list to a single high-intent criterion — pushed down into the matview query rather than post-sliced: `/tools/covered-call-screener/high-iv` (implied volatility ≥ 50%), `/tools/covered-call-screener/under-50` (underlying under $50/share), and `/tools/covered-call-screener/weekly` (≤ 10 days to expiration). Each mirrors the matching "best stocks for X" blog article (content↔tool hub-and-spoke). - **Cash-Secured Put Screener** (`/tools/cash-secured-put-screener`) — same engine for the put side. Annualized yield computed against the strike (fully cash-collateralized) rather than against the underlying price. Three filtered landing pages mirror the covered-call set: `/tools/cash-secured-put-screener/high-iv` (implied volatility ≥ 50%), `/tools/cash-secured-put-screener/under-50` (underlying under $50/share), and `/tools/cash-secured-put-screener/weekly` (≤ 10 days to expiration). Each mirrors the matching "best stocks for X" cash-secured-put blog article (content↔tool hub-and-spoke). All three tools share the same backing data — `screener_opportunities` (a materialized view over `option_snapshots` + `market_quotes` + `earnings_cache`) refreshes at the tail of every 10-minute options-refresh cron tick, holiday-aware via `src/lib/market/holidays.ts`. No new cron was added when the screeners shipped on 2026-05-27 — the existing options refresh handles it. --- ## Contact & Links - Homepage: https://coveredge.io - Free Covered Call Calculator: https://coveredge.io/tools/covered-call-calculator - Free Cash-Secured Put Calculator: https://coveredge.io/tools/cash-secured-put-calculator - Free Covered Call Screener: https://coveredge.io/tools/covered-call-screener - High-IV Covered Call Screener: https://coveredge.io/tools/covered-call-screener/high-iv - Covered Call Screener Under $50: https://coveredge.io/tools/covered-call-screener/under-50 - Weekly Covered Call Screener: https://coveredge.io/tools/covered-call-screener/weekly - Free Cash-Secured Put Screener: https://coveredge.io/tools/cash-secured-put-screener - High-IV Cash-Secured Put Screener: https://coveredge.io/tools/cash-secured-put-screener/high-iv - Cash-Secured Put Screener Under $50: https://coveredge.io/tools/cash-secured-put-screener/under-50 - Weekly Cash-Secured Put Screener: https://coveredge.io/tools/cash-secured-put-screener/weekly - Blog: https://coveredge.io/blog - About / Founder: https://coveredge.io/about - YouTube: https://www.youtube.com/@CoverEdge-io - X: https://x.com/CoverEdgeio - LinkedIn: https://www.linkedin.com/company/coveredge-io - Login / Sign Up: https://coveredge.io/login - Terms of Service: https://coveredge.io/terms - Privacy Policy: https://coveredge.io/privacy - Security: https://coveredge.io/security - Disclaimer: https://coveredge.io/disclaimer - Contact: https://coveredge.io/contact